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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities        
Net income $ 241,216 $ 14,003 $ 265,128 $ 71,289
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 22,213 24,286 67,175 75,894
Non-cash lease expense (10) (298) 14 113
Share-based compensation     10,012 9,718
Amortization of debt issuance costs and discounts on debt     3,113 3,150
(Gain) loss on disposal of assets (5) 266 (125) 935
Gain on sale of business (305,829) 0 (305,829) 0
Provision for credit losses     750 627
Deferred income taxes     (2,990) (19,446)
Loss on debt extinguishment and modification 0 158 405 1,412
Changes in operating assets and liabilities:        
Accounts receivable     126 (4,781)
Prepaid expenses, inventories and other current assets     16,494 (10,032)
Other assets     71 (4,046)
Accounts payable and other accrued expenses     74,326 3,659
Other liabilities     (345) (1,197)
Net cash provided by operating activities     128,325 127,295
Cash flows from investing activities        
Purchase of property and equipment, net of change in accounts payable     (71,745) (33,506)
Proceeds from disposal of property and equipment     296 118
Proceeds from sale of business, net of cash sold     365,046 0
Net cash provided by (used in) investing activities     293,597 (33,388)
Cash flows from financing activities        
Repayments of term loan     (576,000) (50,000)
Issuance of new term loan     400,000 0
Repurchase of senior notes     0 (37,539)
Repayments of notes payable     (1,205) (488)
Principal payments under finance leases     (409) (404)
Payment for debt extinguishment and modification costs     (8,011) (12)
Tax withholding on share-based payments     (15,622) (10,680)
Cash dividend paid     (57,727) 0
Proceeds from issuance of common stock, net of costs     7 4
Repurchases of common stock     (9,134) (37,670)
Net cash used in financing activities     (268,101) (136,789)
Change in cash and cash equivalents     153,821 (42,882)
Balance, beginning of period     142,034 220,540
Balance, end of period 295,855 177,658 295,855 177,658
Cash and cash equivalents        
Cash and cash equivalents 261,161 170,486 261,161 170,486
Cash and cash equivalents included in assets held for sale 34,694 7,172 34,694 7,172
Balance, end of period $ 295,855 $ 177,658 295,855 177,658
Supplemental cash flow disclosures        
Cash paid for interest     45,337 35,612
Cash paid for income taxes, net     9,000 13,709
Non-cash investing and financing activities        
Payables incurred for capital expenditures     4,157 1,066
Notes payable incurred for capital expenditures     3,571 0
Loss on debt extinguishment and modification     405 1,412
Operating lease right-of-use assets obtained in exchange for lease obligations     $ 1,069 $ 19,671