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Condensed Consolidated Statements of Cash Flows
$ in Thousands
3 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Operating activities    
Net income $ 42,962 $ 9,008
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation, amortization and accretion 11,786 8,123
ARO acceleration 293 0
Amortization of debt related costs 246 (61)
Changes in fair value of contingent assets and liabilities 18,400 300
Gain on extinguishment of debt 0 (889)
Provision for excess and obsolete inventory 2,519 1,395
Stock-based compensation 5,623 3,317
Gain on sale of assets 0 (15,263)
Deferred taxes 14,180 4,581
Long-term income tax receivable (396) (573)
Long-term income tax payable and other long-term liabilities 779 728
Other 829 655
(Decreases) increases in cash from operating assets and liabilities:    
Accounts receivable (85,155) (2,346)
Inventory (1,634) 3,889
Other current assets (104) (536)
Other long-term assets (533) 0
Accounts payable 1,506 4,110
Accrued expenses and other liabilities (1,037) (6,620)
Net cash provided by operating activities 10,264 9,818
Investing activities    
Capital expenditures (3,190) (2,520)
Proceeds from sale of assets, net 1,800 15,823
Net cash (used in) provided by investing activities (1,390) 13,303
Financing activities    
Payments on long-term debt and other borrowings (2,609) (35,572)
Proceeds from stock option exercises 5,357 2,043
Proceeds from issuance of common stock 577 337
Payments for minimum statutory tax withholding related to net share settlement of equity awards (5,504) (1,599)
Net cash used in financing activities (2,179) (34,791)
Effect of foreign exchange rates on cash, cash equivalents and restricted cash 151 (21)
Net increase (decrease) in cash, cash equivalents and restricted cash 6,846 (11,691)
Cash, cash equivalents and restricted cash, beginning of period 100,651 82,694
Cash, cash equivalents and restricted cash, end of period 107,497 71,003
Reconciliation to amounts within the condensed consolidated balance sheets    
Cash and cash equivalents 105,355 68,861
Restricted cash included in other long-term assets 2,142 2,142
Cash, cash equivalents and restricted cash at end of period $ 107,497 $ 71,003