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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 25,620 $ 26,839
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,984 11,081
Amortization of deferred loan costs 403 403
Stock-based compensation 5,892 4,197
Provisions for bad debts 44 27
Loss on disposition of assets   12
Changes in operating assets and liabilities:    
Receivables (67) (35)
Income taxes 4,415 2,099
Inventories (848) 11
Prepaid expenses (80) 1
Right of use asset, net 10  
Accounts payable (33) 691
Accrued expenses 1,629 (335)
Net cash provided by operating activities 47,969 44,991
Cash flows from investing activities:    
Change in construction payable (4,348) 19,178
Acquisition of property and equipment (106,345) (101,696)
Net cash used in investing activities (110,693) (82,518)
Cash flows from financing activities:    
Long-term debt borrowings 61,350 43,070
Net cash provided by financing activities 61,350 43,070
Change in cash and cash equivalents (1,374) 5,543
Cash and cash equivalents at beginning of period 30,462 29,151
Cash and cash equivalents at end of period 29,088 34,694
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized   186
Cash paid for income taxes $ 1,842 4,650
Accrued expenses - adjustment to beginning retained earnings for accounting changes in accordance with the new revenue recognition standard   $ 4,858