XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities:      
Net income $ 53,079 $ 41,100 $ 91,106
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 126,351 103,590 90,782
Interest accretion on landfill and environmental remediation liabilities 8,008 7,324 7,090
Amortization of debt issuance costs 1,903 2,288 2,169
Stock-based compensation 8,155 11,551 8,219
Operating lease right-of-use assets expense 13,804 13,827 16,257
Disposition of assets, other items and charges, net 737 1,055 1,753
Deferred income taxes 16,527 15,073 (52,288)
Changes in assets and liabilities, net of effects of acquisitions and divestitures:      
Accounts receivable (7,101) (7,422) 5,815
Landfill operating lease contract expenditures (5,486) (5,655) (5,386)
Accounts payable 11,075 13,888 (15,226)
Prepaid expenses, inventories and other assets (11,054) (6,343) (1,211)
Accrued expenses, contract liabilities and other liabilities 1,316 (7,539) (9,158)
Net cash provided by operating activities 217,314 182,737 139,922
Cash Flows from Investing Activities:      
Acquisitions, net of cash acquired (78,197) (170,647) (32,457)
Additions to property, plant and equipment (130,960) (123,295) (108,108)
Proceeds from sale of cost method investment 1,637 0 0
Proceeds from sale of property and equipment 600 788 533
Net cash used in investing activities (206,920) (293,154) (140,032)
Cash Flows from Financing Activities:      
Proceeds from debt borrowings 88,200 3,701 157,000
Principal payments on debt (59,211) (10,305) (149,378)
Payments of debt issuance costs (1,232) (3,684) (1,531)
Payments of contingent consideration (1,000) 0 0
Proceeds from the exercise of share based awards 192 172 100
Proceeds from the public offering of Class A Common Stock 0 0 144,790
Net cash provided by (used in) financing activities 26,949 (10,116) 150,981
Net increase (decrease) in cash and cash equivalents 37,343 (120,533) 150,871
Cash and cash equivalents, beginning of period 33,809 154,342 3,471
Cash and cash equivalents, end of period 71,152 33,809 154,342
Supplemental Disclosures of Cash Flow Information:      
Interest 21,003 19,025 20,117
Income tax payments (refunds), net 2,798 1,438 (1,534)
Supplemental Disclosures of Non-Cash Investing and Financing Activities:      
Non-current assets acquired through long-term financing obligations $ 11,919 $ 20,753 $ 18,069