v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income (loss) from continuing operations $ 45,188 $ (152,415)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities from continuing operations:    
Depreciation and amortization 148,006 146,985
Share-based compensation 34,179 23,395
Non-cash interest expense 8,497 7,034
Amortization of operating lease right-of-use assets 15,129 14,391
Loss on impairment 13 3,334
Loss (gain) on debt extinguishment and third party debt issuance costs 4,266 (1,685)
Deferred taxes (81,950) (17,258)
Other adjustments, net (752) 3,602
Foreign exchange loss (gain) 4,353 (3,764)
Changes in operating assets and liabilities:    
Accounts receivable, net (10,008) (2,953)
Inventories (10,789) (4,866)
Prepaid expenses and other current assets 13,599 1,942
Income tax receivable 2,288 4,305
Net assets held for sale and discontinued operations 375 0
Other assets - net of current 719 1,094
Accounts payable (10,116) (25,963)
Accrued expenses and other liabilities (13,503) 11,212
Income tax payable (62,676) 114,253
Lease liabilities, operating (14,516) (13,210)
Net cash provided by operating activities from continuing operations 72,302 109,433
Net cash used in operating activities from discontinued operations (959) (14,752)
Net cash provided by operating activities 71,343 94,681
Cash flows from investing activities:    
Purchases of property, plant and equipment (49,982) (46,909)
Disposals of property, plant and equipment 0 696
Acquisition-related cash payments, net of cash acquired (480) (542)
Purchases of intangibles (3,482) (420)
Purchase of investments 0 (287)
Issuance of notes receivable (1,217) (3,371)
Payments received on notes receivables 2,600 584
Dividend received on investments 20 165
Net cash used in investing activities from continuing operations (52,541) (50,084)
Net cash used in investing activities from discontinued operations 0 (951)
Net cash used in investing activities (52,541) (51,035)
Cash flows from financing activities:    
Proceeds from notes payable [1] 481,302 39,529
Principal payments on notes payable (404,848) (58,900)
Acquisition of non-controlling interest (50,875) 0
Payments of debt issuance costs (7,620) (950)
Principal payments on finance lease liabilities (9,595) (7,557)
Principal payments on financial obligations (7,289) (4,252)
Exercise of stock options 2,032 213
Remittances of statutory withholdings on share-based payment awards [2] (6,459) 0
Payments to repurchase SVS (2,000) 0
Payments of deferred consideration (9,625) (9,398)
Payments of contingent consideration 0 (3,236)
Net cash used in financing activities from continuing operations (14,977) (44,551)
Net cash used in financing activities from discontinued operations 0 0
Net cash used in financing activities (14,977) (44,551)
Net increase (decrease) in cash and cash equivalents (including restricted cash) 3,825 (905)
Cash and cash equivalents (including restricted cash), beginning of period 101,573 107,225
Effect of exchange rate changes on cash and cash equivalents (including restricted cash) (465) 1,168
Cash and cash equivalents (including restricted cash), end of period 104,933 107,488
Non-cash investing & financing activities:    
Purchases of property, plant and equipment within accounts payable and accrued expenses 2,676 1,936
Exchanged portion of Senior Secured Notes - 2026 for Senior Secured Notes - 2029 [1],[3] 142,202 0
Seller note issued in connection with business acquisition 6,450 0
Consideration payable for business acquisition 5,907 0
Non-cash proceeds from Note Exchange [3] 0 7,000
Extinguishment of convertible notes by issuance of SVS [3] 0 16,500
Issuance of SVS in connection with acquisitions [3] 0 574
Deferred consideration incurred in connection with acquisitions 0 985
Issuance of SVS for settlement of liability [3] 0 77
Non-cash activity related to failed sale leaseback arrangements 0 7,087
Issuance of SVS to purchase non-controlling interest [3] 36,676 5,418
Non-cash reduction to deferred sale proceeds 0 120
Non-cash activity related to obtaining finance right-of-use assets 11,713 2,708
Non-cash activity related to obtaining operating right-of-use assets 25,793 10,040
Other non-cash activity related to finance right-of-use assets 7,636 1,118
Other non-cash activity related to operating right-of-use assets (2,909) 680
Excess redemption value attributable to non-controlling interest (18,891) 32,267
Supplemental disclosure of cash flow information:    
Cash paid for taxes 13,862 27,427
Cash paid for interest $ 72,654 $ 68,873
[1]
(1) The remaining outstanding balance of the Senior Secured Notes – 2026* of $142.2 million was exchanged on a non-cash basis for Senior Secured Notes – 2029*.
[2]
(2) In connection with the Company’s net share settlement (withhold-to-cover) of PSUs* and RSUs* that vested during the six months ended June 30, 2026. See Note 17 — Shareholders’ equity for further details.
[3]
*as defined herein