XML 20 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net earnings $ 212 $ 3,487 $ 11,888
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:      
Depreciation and amortization 27,863 22,707 19,797
Gains on sales of property (4,036) (2,512) (733)
Provision for doubtful accounts 29 (20) (6)
Stock-based compensation expense 1,193 1,022 854
Change in contingent consideration liability (2,566) 0 0
Deferred income taxes (2,416) (2,136) (1,401)
Net change in fair value contracts (330) 353 (14)
Changes in assets and liabilities:      
Accounts receivable 24,715 (46,577) (37,984)
Accounts receivable/payable, affiliates (31) 33 (2)
Inventories 7,092 (7,334) 394
Income tax receivable 0 6,424 6,864
Prepayments and other current assets 15 (592) 575
Accounts payable (21,270) 34,762 82,170
Accrued liabilities (415) 4,327 (692)
Other 220 (167) (684)
Net cash provided by operating activities 30,275 13,777 81,026
Investing activities:      
Property and equipment additions (11,897) (7,491) (12,382)
Acquisition of Firebird and Phoenix, net of cash acquired 0 (33,147) 0
Proceeds from property sales 8,785 3,102 2,286
Insurance and state collateral refunds 0 1,533 0
Net cash used in investing activities (3,112) (36,003) (10,096)
Financing activities:      
Borrowings under Credit Agreement 76,000 117,000 8,000
Repayments under Credit Agreement (78,500) (92,625) (8,000)
Principal repayments of finance lease obligations (8,516) (4,741) (4,367)
Cash paid for debt issuance costs 0 (1,679) 0
Payment for financed portion of VEX acquisition 0 0 (10,000)
Repurchase of common shares from KSA 0 (69,928) 0
Net proceeds from sale of equity 549 1,724 2,830
Dividends paid on common stock (2,517) (3,775) (4,141)
Net cash used in financing activities (12,984) (54,024) (15,678)
Increase (Decrease) in cash and cash equivalents, including restricted cash 14,179 (76,250) 55,252
Cash and cash equivalents, including restricted cash, at beginning of period 31,067 107,317 52,065
Cash and cash equivalents, including restricted cash, at end of period $ 45,246 $ 31,067 $ 107,317