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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ 245,952 $ 154,658 $ (654,545)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion, amortization and impairment 731,416 483,945 849,178
Deferred income tax expense (benefit) 51,866 6,998 (62,980)
Stock-based compensation expense 46,750 21,099 21,558
Net gain on asset disposals (1,798) (12,075) (1,426)
Gain on early debt extinguishment (1,112) (2,461) 0
Other 59 954 (483)
Changes in operating assets and liabilities:      
Accounts receivable 84,544 (209,226) (147,356)
Inventory (30,793) (23,154) (2,609)
Other current assets (10,360) (1,975) (4,126)
Other assets 24,686 10,643 5,260
Accounts payable (69,729) 38,986 50,941
Accrued liabilities (23,484) 67,380 48,540
Other liabilities (42,083) 30,416 (5,940)
Net cash used in operating activities of discontinued operations 0 0 (516)
Net cash provided by operating activities 1,005,914 566,188 95,496
Cash flows from investing activities:      
Acquisitions, net of cash acquired - Pioneer 0 0 (29,358)
Acquisitions, net of cash acquired - NexTier (65,185) 0 0
Acquisitions, net of cash acquired - Ulterra (357,314) 0 0
Purchases of property and equipment (615,690) (436,797) (166,320)
Proceeds from disposal of assets and insurance claims 26,494 26,074 23,339
Other (5,895) (2,504) (522)
Net cash provided by investing activities of discontinued operations 0 0 41,267
Net cash used in investing activities (1,017,590) (413,227) (131,594)
Cash flows from financing activities:      
Purchases of treasury stock (200,710) (70,070) (6,328)
Dividends paid (100,034) (43,096) (15,605)
Proceeds from borrowings under revolving credit facility 420,000 150,000 0
Repayment of borrowings under revolving credit facility (420,000) (150,000) 0
Proceeds from issuance of senior notes 396,412 0 0
Repayment of senior notes (7,837) (19,760) 0
Repayment of term loan 0 0 (50,000)
Payments on finance leases (15,915) 0 0
Debt issuance costs (2,395) (455) 0
Other (3,954) 0 0
Net cash used in financing activities 65,567 (133,381) (71,933)
Effect of foreign exchange rate changes on cash 1,236 449 640
Net increase (decrease) in cash and cash equivalents 55,127 20,029 (107,391)
Cash and cash equivalents at beginning of year 137,553 117,524 224,915
Cash and cash equivalents at end of year 192,680 137,553 117,524
Net cash (paid) received during the year for:      
Interest, net of capitalized interest of $1,692 in 2023, $976 in 2022, and $260 in 2021 (39,607) (39,855) (40,464)
Income taxes (27,169) (1,526) 4,196
Non-cash investing and financing activities:      
Net increase (decrease) in payables for purchases of property and equipment (15,111) 7,953 31,393
Net (increase) decrease in deposits on equipment purchases 7,876 (12,202) 867
Issuance of common stock for business acquisitions 3,159,714 0 248,025
Cashless exercise of stock options 0 10,368 0
Purchases of property and equipment through exchange of lease right of use asset 3,241 0 0
Derecognition of right of use asset $ (3,241) $ 0 $ 0