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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 37,553 $ 26,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,062 18,874
Amortization of deferred loan costs 685 238
Stock-based compensation 2,185 2,527
Stock Based Compensation - Restricted Stock 80  
Provision for bad debts 24 24
Gain on disposition of assets (139) (14)
Non-cash operating lease expense   (9)
Deferred income taxes   1
Changes in operating assets and liabilities:    
Receivables 1,429 (4,960)
Income taxes receivable (1,323) (169)
Inventories (536) 1,746
Prepaid expenses 1,261 1,310
Accounts payable (1,780) 2,135
Accrued expenses 110 7,197
Net cash provided by operating activities 60,611 55,203
Cash flows from investing activities:    
Proceeds from sale of assets 131 13
Change in construction accounts payable (8,669) 285
Acquisition of property and equipment (26,694) (12,205)
Net cash used in investing activities (35,232) (11,907)
Cash flows from financing activities:    
Payroll taxes from net exercise of stock options (2,468) (403)
Proceeds from exercise of stock options 5,643 4,593
Line-of-credit borrowings 3,000  
Line-of-credit payments (3,000)  
Principal payments on long-term debt (25,000) (47,500)
Loan issuance cost (6,500)  
Net cash (used in) provided by financing activities (28,325) (43,310)
Change in cash and cash equivalents (2,946) (14)
Cash and cash equivalents at beginning of period 33,526 28,310
Cash and cash equivalents at end of period 30,580 28,296
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 665 2,207
Cash paid for income taxes $ 9,430 $ 6,005