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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net earnings $ 10,756 $ 9,063
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 16,109 14,703
Gains on sales of property (1,709) (532)
Provision for doubtful accounts (20) (3)
Stock-based compensation expense 712 641
Deferred income taxes (1,761) (1,664)
Net change in fair value contracts (1,884) (32)
Changes in assets and liabilities:    
Accounts receivable (56,060) (30,367)
Accounts receivable/payable, affiliates 17 (5)
Inventories (10,259) (5,026)
Income tax receivable 6,424 7,099
Prepayments and other current assets 468 1,455
Accounts payable 46,925 68,766
Accrued liabilities 6,489 770
Other (375) (636)
Net cash provided by operating activities 15,832 64,232
Investing activities:    
Property and equipment additions (6,797) (9,929)
Acquisition of Firebird and Phoenix, net of cash acquired (33,590) 0
Proceeds from property sales 2,209 1,886
Insurance and state collateral refunds 331 0
Net cash used in investing activities (37,847) (8,043)
Financing activities:    
Borrowings under Credit Agreement 45,000 8,000
Repayments under Credit Agreement (30,000) 0
Principal repayments of finance lease obligations (3,491) (3,240)
Payment for financed portion of VEX acquisition 0 (10,000)
Net proceeds from sale of equity 283 2,504
Dividends paid on common stock (3,180) (3,096)
Net cash provided by (used in) financing activities 8,612 (5,832)
(Decrease) Increase in cash and cash equivalents, including restricted cash (13,403) 50,357
Cash and cash equivalents, including restricted cash, at beginning of period 107,317 52,065
Cash and cash equivalents, including restricted cash, at end of period $ 93,914 $ 102,422