XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.2
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 49,774 $ 3,662
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization of property and equipment 30,139 29,659
Amortization of intangible assets 2,399 2,445
Stock-based compensation expense 5,759 4,248
Deferred income taxes 347 0
Gain on sale of property and equipment (1,701) (2,995)
Other non-cash items (180) 1,266
Changes in operating assets and liabilities:    
Accounts receivable, net 55,665 (34,139)
Contract assets, net (42,167) 17,057
Receivable for insurance claims in excess of deductibles (742) (30)
Other assets 4,737 (3,507)
Accounts payable 11,133 (10,336)
Contract liabilities (36,516) 16,514
Accrued self-insurance 872 (4,161)
Other liabilities 36,628 10,688
Net cash flows provided by operating activities 116,147 30,371
Cash flows from investing activities:    
Proceeds from sale of property and equipment 3,726 3,380
Purchases of property and equipment (34,289) (45,961)
Net cash flows used in investing activities (30,563) (42,581)
Cash flows from financing activities:    
Borrowings under revolving lines of credit 488,553 290,907
Repayments under revolving lines of credit (474,695) (279,488)
Payment of principal obligations under equipment notes (2,158) (2,595)
Payment of principal obligations under finance leases (568) (549)
Repurchase of common stock (75,000) (14,251)
Debt refinancing costs 0 (33)
Payments related to tax withholding for stock-based compensation (2,653) (5,866)
Other financing activities 0 1,600
Net cash flows used in financing activities (66,521) (10,275)
Effect of exchange rate changes on cash 429 (545)
Net increase (decrease) in cash and cash equivalents 19,492 (23,030)
Cash and cash equivalents:    
Beginning of period 3,464 24,899
End of period $ 22,956 $ 1,869