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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 29,650 $ 9,700
Reconciliation of net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion 25,705 24,061
Impairment and other charges 777 2,262
Loss on investments 157 159
Equity-based compensation expense 4,199 3,361
Provision for credit losses 190 31
Amortization and expense of financing costs 2,707 2,378
Insurance recoveries associated with damaged equipment (2,850) (3,750)
Gain on sale of assets (432) (980)
Provision (benefit) for deferred taxes (805) (66)
Other non-cash credits (916) (359)
Changes in operating assets and liabilities:    
Accounts receivable 7,600 (16,661)
Inventories (19,990) (5,707)
Prepaid expenses and other current assets 1,313 (3,782)
Trade accounts payable and accrued expenses 2,893 17,069
Other 1,133 (1,768)
Net cash provided by (used in) operating activities 51,331 25,948
Investing activities:    
Purchases of property, plant, and equipment, net (30,240) (32,678)
Proceeds from sale of property, plant, and equipment 658 1,489
Proceeds from insurance recoveries associated with damaged equipment 2,850 3,750
Purchase of investments (350) 0
Other investing activities (1,836) (841)
Net cash used in investing activities (28,918) (28,280)
Financing activities:    
Proceeds from credit agreements and long-term debt 97,384 1,695
Principal payments on credit agreements and long-term debt (98,441) (3,292)
Payments on financing lease obligations (837) (1,174)
Net cash used in financing activities (1,894) (2,771)
Effect of exchange rate changes on cash (285) (1,201)
Increase (decrease) in cash and cash equivalents 20,234 (6,304)
Cash and cash equivalents at beginning of period 13,592 31,551
Cash and cash equivalents at beginning of period $ 33,826 $ 25,247