XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.3
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net income $ 8,660 $ 27,210
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 168,549 116,095
Interest accretion on landfill and environmental remediation liabilities 8,758 7,470
Amortization of debt issuance costs 2,224 2,221
Stock-based compensation 7,433 6,699
Operating lease right-of-use assets expense 13,119 10,956
Disposition of assets, other items and charges, net 12,459 279
Loss from termination of bridge financing 0 8,191
Deferred income taxes 3,424 5,233
Changes in assets and liabilities, net of effects of acquisitions and divestitures:    
Accounts receivable (8,865) (23,298)
Landfill operating lease contract expenditures (3,486) (3,336)
Accounts payable (20,532) 24,568
Prepaid expenses, inventories and other assets (6,086) (10,112)
Accrued expenses, contract liabilities and other liabilities (14,063) (14,351)
Net cash provided by operating activities 171,594 157,825
Cash Flows from Investing Activities:    
Acquisitions, net of cash acquired (259,196) (847,763)
Additions to intangible assets (265) 0
Additions to property and equipment (126,361) (90,364)
Proceeds from sale of property and equipment 1,047 971
Proceeds from property insurance settlement 146 0
Net cash used in investing activities (384,629) (937,156)
Cash Flows from Financing Activities:    
Proceeds from debt borrowings 801,750 465,000
Principal payments on debt (780,771) (18,563)
Payments of debt issuance costs (6,448) (12,759)
Proceeds from the exercise of share based awards 0 89
Proceeds from the public offering of Class A common stock 496,569 496,231
Net cash provided by financing activities 511,100 929,998
Net increase in cash, cash equivalents and restricted cash 298,065 150,667
Cash, cash equivalents and restricted cash, beginning of period 220,912 71,152
Cash, cash equivalents and restricted cash, end of period 518,977 221,819
Cash paid during the period for:    
Cash interest payments 45,685 28,626
Cash income tax payments 5,135 9,689
Supplemental Disclosure of Non-Cash Activities:    
Non-current assets obtained through long-term financing obligations 23,679 8,053
Right-of-use assets obtained in exchange for operating lease obligations $ 10,776 $ 18,558