XML 14 R5.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES:    
Net income $ 5,231 $ 23,942
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 16,497 14,877
Bad debt expense 302 268
Stock compensation-net of excess tax benefits 208 137
Provision for deferred income taxes (560) 4,126
Loss/(Gain) on marketable equity securities 288 (1,397)
Gain on sale or disposition of equipment (577) (147)
Changes in operating assets and liabilities:    
Accounts receivable 1,826 (14,568)
Prepaid expenses, deposits, inventories, and other assets 1,930 (26)
Income taxes payable 2,371 3,384
Trade accounts payable (2,783) 4,477
Accrued expenses and other liabilities 9,474 6,020
Net cash provided by operating activities 34,207 41,093
INVESTING ACTIVITIES:    
Purchases of property and equipment (6,108) (10,016)
Proceeds from disposition of equipment 7,192 1,042
Net cash provided by / (used in) investing activities 1,084 (8,974)
FINANCING ACTIVITIES:    
Borrowings under line of credit 282,515 184,177
Repayments under line of credit (282,515) (184,177)
Borrowings of long-term debt 0 42,058
Repayments of long-term debt (13,024) (11,434)
Borrowings under margin account 18 11
Repayments under margin account (383) (360)
Repurchases of common stock (3,516) (3,000)
Net cash (used in) / provided by financing activities (16,905) 27,275
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 18,386 59,394
CASH, CASH EQUIVALENTS AND RESTRICTED CASH -Beginning of period 74,087 18,509
CASH, CASH EQUIVALENTS AND RESTRICTED CASH -End of period 92,473 77,903
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 2,353 1,527
Income taxes 0 155
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Purchases of property and equipment included in accounts payable $ 528 $ 6,593