XML 20 R7.htm IDEA: XBRL DOCUMENT v3.23.2
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net income $ 9,038 $ 21,986
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 68,359 60,579
Interest accretion on landfill and environmental remediation liabilities 5,001 4,015
Amortization of debt issuance costs 1,505 924
Stock-based compensation 4,341 3,178
Operating lease right-of-use assets expense 6,872 6,824
Disposition of assets, other items and charges, net (300) 376
Loss from termination of bridge financing 8,198 0
Deferred income taxes 1,952 7,156
Changes in assets and liabilities, net of effects of acquisitions and divestitures:    
Accounts receivable (3,958) (14,667)
Landfill operating lease contract expenditures (1,318) (1,308)
Accounts payable 8,898 10,142
Prepaid expenses, inventories and other assets (5,845) (6,099)
Accrued expenses, contract liabilities and other liabilities (19,547) (855)
Net cash provided by operating activities 83,196 92,251
Cash Flows from Investing Activities:    
Acquisitions, net of cash acquired (547,587) (56,250)
Additions to property, plant and equipment (50,415) (54,868)
Proceeds from sale of property and equipment 776 507
Net cash used in investing activities (597,226) (110,611)
Cash Flows from Financing Activities:    
Proceeds from debt borrowings 430,000 82,200
Principal payments on debt (10,625) (55,297)
Payments of debt issuance costs (7,185) (1,229)
Payments of contingent consideration 0 (1,000)
Proceeds from the exercise of share based awards 0 192
Proceeds from the public offering of Class A common stock 496,403 0
Net cash provided by financing activities 908,593 24,866
Net increase in cash and cash equivalents 394,563 6,506
Cash and cash equivalents, beginning of period 71,152 33,809
Cash and cash equivalents, end of period 465,715 40,315
Supplemental Disclosure of Cash Flow Information:    
Cash interest payments 14,196 9,648
Cash income tax payments 7,913 2,092
Non-current assets obtained through long-term financing obligations 4,715 4,190
Right-of-use assets obtained in exchange for operating lease obligations $ 17,756 $ 5,194