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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net earnings $ 3,487 $ 11,888 $ 995
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:      
Depreciation and amortization 22,707 19,797 18,573
Gains on sales of property (2,512) (733) (1,859)
Provision for doubtful accounts (20) (6) (27)
Stock-based compensation expense 1,022 854 643
Deferred income taxes (2,136) (1,401) 6,389
Net change in fair value contracts 353 (14) (9)
Changes in assets and liabilities:      
Accounts receivable (46,577) (37,984) (5,162)
Accounts receivable/payable, affiliates 33 (2) (5)
Inventories (7,334) 394 4,751
Income tax receivable 6,424 6,864 (10,719)
Prepayments and other current assets (592) 575 (1,401)
Accounts payable 34,762 82,170 (61,116)
Accrued liabilities 4,327 (692) 5,052
Other (167) (684) (104)
Net cash provided by (used in) operating activities 13,777 81,026 (43,999)
Investing activities:      
Property and equipment additions (7,491) (12,382) (5,008)
Acquisition of Firebird and Phoenix, net of cash acquired (33,147) 0 0
Asset acquisitions 0 0 (20,200)
Proceeds from property sales 3,102 2,286 4,515
Insurance and state collateral refunds 1,533 0 1,030
Net cash used in investing activities (36,003) (10,096) (19,663)
Financing activities:      
Borrowings under Credit Agreement 117,000 8,000 0
Repayments under Credit Agreement (92,625) (8,000) 0
Principal repayments of finance lease obligations (4,741) (4,367) (2,336)
Cash paid for debt issuance costs (1,679) 0 0
Payment for financed portion of VEX acquisition 0 (10,000) 0
Repurchase of common shares from KSA (69,928) 0 0
Net proceeds from sale of equity 1,724 2,830 0
Payment of contingent consideration liability 0 0 (111)
Dividends paid on common stock (3,775) (4,141) (4,081)
Net cash used in financing activities (54,024) (15,678) (6,528)
(Decrease) Increase in cash and cash equivalents, including restricted cash (76,250) 55,252 (70,190)
Cash and cash equivalents, including restricted cash, at beginning of period 107,317 52,065 122,255
Cash and cash equivalents, including restricted cash, at end of period $ 31,067 $ 107,317 $ 52,065