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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 184,014 $ 54,561
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion, amortization and impairment 452,629 360,641
Deferred income tax expense 22,323 930
Stock-based compensation 33,338 15,460
Net loss (gain) on asset disposals 427 (10,558)
Gain on early debt extinguishment (1,112) 0
Other (76) 745
Changes in operating assets and liabilities:    
Accounts receivable 45,207 (190,142)
Inventory (29,355) (18,061)
Other current assets (30,053) (2,214)
Other assets 16,460 7,877
Accounts payable (29,388) 59,469
Accrued liabilities (71,689) (50,067)
Other liabilities (39,443) 34,606
Net cash provided by operating activities 553,282 263,247
Cash flows from investing activities:    
Acquisitions, net of cash acquired - NexTier (65,185) 0
Acquisitions, net of cash acquired - Ulterra (357,314) 0
Purchases of property and equipment (410,417) (317,553)
Proceeds from disposal of assets 19,566 20,305
Other (286) (2,404)
Net cash used in investing activities (813,636) (299,652)
Cash flows from financing activities:    
Purchases of treasury stock (124,286) (12,897)
Dividends paid (66,724) (25,936)
Proceeds from borrowings under revolving credit facility 420,000 90,000
Repayment of borrowings under revolving credit facility (420,000) (90,000)
Debt issuance costs (1,953) 0
Proceeds from issuance of senior notes 396,412 0
Repayment of senior notes (7,837) 0
Other (7,301) 0
Net cash provided by (used in) financing activities 188,311 (38,833)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 1,538 449
Net decrease in cash, cash equivalents and restricted cash (70,505) (74,789)
Cash, cash equivalents and restricted cash at beginning of period 137,553 117,524
Cash, cash equivalents and restricted cash at end of period 67,048 42,735
Net cash received (paid) during the period for:    
Interest, net of capitalized interest of $1,350 in 2023 and $689 in 2022 (29,269) (31,332)
Income taxes (27,454) (1,166)
Non-cash investing and financing activities:    
Net (decrease) increase in payables for purchases of property and equipment (10,083) 14,175
Net decrease (increase) in deposits on equipment purchases 7,214 (7,556)
Cashless exercise of stock options 0 10,368
Purchases of property and equipment through exchange of lease right of use asset 3,241 0
Derecognition of right of use asset (3,241) 0
Issuance of common stock for business combinations $ 3,161,691 $ 0