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CONSOLIDATED AND COMBINED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (187,517) $ (106,341) $ (71,723)
Adjustments to reconcile net loss to cash used in operating activities:      
Equity in losses of unconsolidated entities 67,399 13,499 3,107
Loss (gain) on sale of assets 1,603 (16) 8
Loss on extinguishment of debt 0 0 4,724
Equity-based compensation 4,146 4,038 2,325
Depreciation and amortization 70,749 54,016 31,114
Change in deferred income taxes 3,982 (3,867) (2,276)
Change in fair value of non-hedge derivatives (1,125) (2,220) 181
Amortization of deferred financing costs 4,393 2,599 1,542
Bad debt expense (recoveries) 575 74 (1)
Amortization of bond discount 1,903 0 0
Change in:      
Accounts receivable (3,303) (26,798) 9,998
Other assets (7,799) (18,414) (12,670)
Accounts payable and accrued liabilities 7,013 15,494 (14,225)
Management fees payable to affiliate 0 (19) 0
Other liabilities (4,709) 6,239 1,036
Net cash used in operating activities (42,690) (61,716) (46,860)
Cash flows from investing activities:      
Investment in unconsolidated entities (5,996) (55,223) (4,692)
Acquisition of business, net of cash acquired (3,819) (627,090) 0
Acquisition of property, plant and equipment (217,141) (140,897) (247,524)
Investment in convertible promissory notes (47,454) (10,000) 0
Proceeds from sale of property, plant and equipment 7,144 4,494 0
Net cash used in investing activities (267,266) (828,716) (252,216)
Cash flows from financing activities:      
Proceeds from debt 519,025 451,100 263,980
Repayment of debt 0 0 (239,983)
Payment of deferred financing costs (13,605) (12,413) (11,804)
Proceeds from issuance of redeemable preferred stock 291,000 0 0
Redeemable preferred stock issuance costs (16,433) 0 0
Distributions to Manager (78) 0 0
Capital contributions from non-controlling interests 731 0 0
Distributions to non-controlling interests (143) 0 0
Settlement of equity-based compensation (593) 0 0
Net transfers from Former Parent (617,321) 698,179 325,435
Cash dividends - common stock (3,082) 0 0
Cash dividends - redeemable preferred stock (1,758) 0 0
Net cash provided by financing activities 157,743 1,136,866 337,628
Net increase (decrease) in cash and cash equivalents and restricted cash (152,213) 246,434 38,552
Cash and cash equivalents and restricted cash, beginning of period 301,855 55,421 16,869
Cash and cash equivalents and restricted cash, end of period 149,642 301,855 55,421
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 38,083 7,302 8,586
Cash paid for taxes 379 334 329
Supplemental disclosure of non-cash investing and financing activities:      
Acquisition of property, plant and equipment (5,662) (581) (10,817)
Dividends and accretion of redeemable preferred stock (21,898) 0 0
Conversion of interests in unconsolidated subsidiaries (21,302) 0 0
Non-cash change in equity method investment $ (149,078) $ (128,990) $ (26,609)