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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 314,969 $ (119,423) $ (346,883)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Depreciation and amortization 229,259 184,164 302,051
Amortization of deferred financing fees 2,189 2,066 2,217
Gain on disposal of assets (16,616) (28,898) (14,461)
Stock-based compensation 33,117 24,677 25,826
Unrealized gain (loss) on derivative recognized in other comprehensive income (loss) 0 1,703 (6,422)
(Gain) loss on financial instrument and derivatives, net (6,388) 1,799 (2,815)
Gain on insurance proceeds recognized in other income (8,564) (10,409) 0
Loss on impairment of assets 0 0 37,008
Payment of contingent consideration (27,014) 0 0
Changes in operating assets and liabilities      
(Increase) decrease in trade and other accounts receivable, net (95,477) (128,535) 183,083
(Increase) decrease in inventories (36,253) (9,978) 19,167
Decrease (increase) in prepaid and other current assets 23,769 (10,894) 5,160
(Increase) decrease in other assets (8,962) 24,807 25,306
(Decrease) increase in accounts payable (34,260) 18,693 (61,658)
(Decrease) increase in customer contract liabilities (4,352) (6,537) 206
Increase (decrease) in accrued expenses 99,667 34,860 (84,129)
Decrease in other liabilities (10,693) (28,882) (14,771)
Net cash provided by (used in) operating activities 454,391 (50,787) 68,885
Cash flows from investing activities      
Asset and business acquisitions (26,694) (95,082) 53,666
Purchase of property and equipment (215,418) (184,496) (113,506)
Advances of deposit on equipment (4,854) (961) (1,908)
Implementation of software (4,846) (3,021) (8,813)
Proceeds from disposal of assets 50,227 70,432 32,659
Proceeds from insurance recoveries 15,351 22,947 58
Proceeds from settlement of WSS Notes and make-whole derivative 0 34,350 0
Payment of consideration liability 0 (7,370) 0
Net cash used in investing activities (186,234) (163,201) (37,844)
Cash flows from financing activities:      
Proceeds from the asset-based revolver and equipment loan 0 43,329 175,000
Payments on the asset-based revolver, term loan facilities, and equipment loan (14,738) (4,976) (178,500)
Payments on finance leases (13,872) (4,155) (3,752)
Payment of debt issuance costs (110) (277) 0
Payment of contingent consideration (6,343) 0 0
Shares repurchased and retired related to share repurchase program (111,365) 0 0
Shares repurchased and retired related to stock-based compensation (7,500) (2,699) (2,573)
Proceeds from financing liabilities 0 17,759 0
Payments for financing liabilities (7,566) (695) 0
Net cash (used in) provided by financing activities (161,494) 48,286 (9,825)
Non-cash effect of foreign translation adjustments 1,118 407 (241)
Net increase (decrease) in cash, cash equivalents and restricted cash 107,781 (165,295) 20,975
Cash, cash equivalents and restricted cash, beginning 110,695 275,990 255,015
Cash, cash equivalents and restricted cash, ending 218,476 110,695 275,990
Supplemental disclosure of cash flow information:      
Interest 26,332 23,242 21,114
Income taxes 1,716 217 1,206
Non-cash investing and financing activities:      
Change in accrued capital expenditures (46,268) (71,897) (13,812)
Non-cash additions to equity security investment 0 0 5,263
Non-cash additions to finance right-of use assets 7,115 42,592 0
Non-cash additions to finance lease liabilities, including current maturities (6,874) (42,592) 0
Non-cash additions to operating right-of-use assets 8,088 9,047 9,057
Non-cash additions to operating lease liabilities, including current maturities (8,004) (7,416) (8,898)
500,000 shares of NexTier common stock issued for CIG Acquisition (4,207) 0 0
26,000,000 shares of NexTier common stock issued in exchange for Alamo ownership 0 (82,323) 0
Total contingent consideration 0 (45,944) 0
Non contingent consideration $ 0 $ (7,370) $ 0