XML 16 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 31,025 $ (27,560)
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization expense 5,184 6,036
Deferred income taxes 3,948 (5,065)
Stock based compensation 351 467
Amortization of deferred financing costs 245 259
Bad debt expense 1,024 (247)
Gain on derivatives, net (45,063) (7,024)
Current period cash settlements on derivatives, net 13,136 1,185
Other 43 0
Changes in assets and liabilities:    
Decrease in accounts receivable 177 14,926
Decrease (increase) in accounts receivable—affiliates 101 (211)
Decrease in inventory 1,874 1,365
Increase in customer acquisition costs (1,196) (213)
Increase in prepaid and other current assets (833) (3,012)
Decrease in intangible assets—customer acquisition 0 27
Decrease in other assets 252 254
Decrease in accounts payable and accrued liabilities (4,320) (5,271)
(Decrease) increase in accounts payable—affiliates (54) 433
(Decrease) increase in other current liabilities (1,203) 41
Decrease in other non-current liabilities (108) (22)
Net cash provided by (used in) operating activities 4,583 (23,632)
Cash flows from investing activities:    
Purchases of property and equipment (205) (520)
Acquisition of Customers (3,393) 0
Net cash used in investing activities (3,598) (520)
Cash flows from financing activities:    
Borrowings on notes payable 88,000 191,000
Payments on notes payable (117,000) (156,000)
Net borrowings on subordinated debt facility 15,000 10,000
Restricted stock vesting (58) 0
Payment of dividends to Class A common stockholders (2,838) (2,651)
Payment of distributions to non-controlling unitholders (3,678) (6,439)
Payment of Preferred Stock dividends (1,951) (1,951)
Net cash (used) provided in financing activities (22,525) 33,959
(Decrease) Increase in Cash, cash equivalents and Restricted cash (21,540) 9,807
Cash, cash equivalents and Restricted cash—beginning of period 75,320 71,684
Cash, cash equivalents and Restricted cash—end of period 53,780 81,491
Non-cash items:    
Property and equipment purchase accrual 447 23
Cash paid during the period for:    
Interest 1,073 889
Taxes $ 205 $ (361)