XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 47,753 $ 265,128
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,362 67,175
Non-cash lease (benefit) expense (298) 14
Share-based compensation 8,311 10,012
Amortization of debt issuance costs and discounts on debt 1,816 3,113
Gain on disposal of assets (242) (125)
Gain on sale of business (68,944) (305,829)
Provision for credit losses 105 750
Deferred income taxes 55,771 (2,990)
Loss on debt extinguishment and modification 4,446 405
Changes in operating assets and liabilities:    
Accounts receivable 3,864 126
Prepaid expenses, inventories and other current assets 4,425 16,494
Other assets (1,527) 71
Accounts payable and other accrued expenses (88,317) 74,326
Income tax payable 35,965 0
Other liabilities (678) (345)
Net cash provided by operating activities 69,812 128,325
Cash flows from investing activities    
Purchase of property and equipment, net of change in construction payables (41,696) (71,745)
Proceeds from disposal of property and equipment 1 296
Proceeds from sale of business, net of cash transferred to buyer 204,066 365,046
Acquisition of business, net of cash acquired (7,250) 0
Net cash provided by investing activities 155,121 293,597
Cash flows from financing activities    
Repayments of term loan (3,000) (576,000)
Issuance of new term loan 0 400,000
Repayment of senior notes (276,453) 0
Repayments of notes payable (661) (1,205)
Principal payments under finance leases (871) (409)
Payment for debt extinguishment and modification costs (6) (8,011)
Tax withholding on share-based payments (7,151) (15,622)
Dividend paid (14,360) (57,727)
Proceeds from options exercised and issuance of common stock, net 3,159 7
Repurchases of common stock (54,639) (9,134)
Net cash used in financing activities (353,982) (268,101)
Change in cash and cash equivalents (129,049) 153,821
Balance, beginning of period 197,600 142,034
Balance, end of period 68,551 295,855
Supplemental cash flow disclosures    
Cash paid for interest 35,361 45,337
Cash paid for income taxes 8,900 9,000
Non-cash investing and financing activities    
Assets acquired under finance lease obligations 3,631 0
Payables incurred for capital expenditures 2,250 4,157
Notes payable incurred for capital expenditures 0 3,571
Dividend payable 6,968 0
Loss on debt extinguishment and modification 4,446 405
Operating lease right-of-use assets obtained in exchange for lease obligations $ 11,619 $ 1,069