v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 67,844 $ 25,592
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,885 71,912
Share-based compensation expense 5,172 3,578
(Gain) on disposal of assets (2,360) (886)
Non-cash interest expense 192 531
Deferred tax expense (benefit) 4,880 (431)
Allowance for doubtful receivables and unbilled revenue 1,784 (782)
Charges on obsolete service inventories 1,283 920
Impairments and other charges 1,492
Other operating activities, net 71 354
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (32,046) (53,001)
(Increase) decrease in unbilled revenue (52,140) (2,901)
(Increase) decrease in retention withholdings (8,243) 15,162
(Increase) decrease in inventories (32,827) (3,040)
(Increase) decrease in prepaid assets (8,475) (6,815)
(Increase) decrease in other current assets (2,582) (5,102)
(Increase) decrease in other long-term assets and liabilities (1,581) 2,764
Increase (decrease) in accounts payable and accrued expenses 181,504 64,509
Increase (decrease) in other current liabilities 12,397 5,115
Net cash provided by operating activities 204,758 118,971
Cash flows from investing activities:    
Capital expenditures (110,108) (59,867)
IPM investments (Note 2)
Proceeds from disposal of assets 1,881 1,438
Other investing activities (1,333) (4,000)
Net cash used in investing activities (109,560) (62,429)
Cash flows from financing activities:    
Proceeds from long-term debt
Repayments of long-term debt (32,250) (35,073)
Proceeds from short-term borrowings 42,242 53,464
Repayments of short-term borrowings (46,086) (47,031)
Payments on capital leases (3,638) (1,427)
Payments on seller-provided financing for capital expenditures (3,820) (1,203)
Other financing activities, net (1,426)
Net cash used in financing activities (43,552) (32,696)
Effect of exchange rate changes on cash
Net increase (decrease) in cash, cash equivalents, and restricted cash 51,646 23,846
Cash and cash equivalents, beginning of period 132,696 107,956
Cash, cash equivalents, and restricted cash, end of period (Note 2) $ 184,342 $ 131,802