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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES:    
Net income (loss) $ 48,625 $ 3,874
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 41,426 41,936
Bad debt expense 837 329
Stock compensation-net of excess tax benefits 347 430
Provision for deferred income taxes 14,984 763
Recognized (gain) / loss on marketable equity securities (5,382) 7,484
Gain on disposition of equipment (962) (71)
Changes in operating assets and liabilities:    
Accounts receivable (27,584) (8,409)
Prepaid expenses, deposits, inventories, and other assets 1,781 1,064
Income taxes payable 455 (52)
Trade accounts payable 1,929 22,112
Accrued expenses and other liabilities (2,500) (16,354)
Net cash provided by operating activities 73,956 53,106
INVESTING ACTIVITIES:    
Purchases of property and equipment (15,297) (39,763)
Proceeds from disposition of equipment 28,047 13,502
Sales of marketable equity securities 1,496 860
Purchases of marketable equity securities, net of return of capital (4,302) (3,982)
Net cash provided by (used in) investing activities 9,944 (29,383)
FINANCING ACTIVITIES:    
Borrowings under line of credit 450,222 365,263
Repayments under line of credit (468,469) (371,182)
Borrowings of long-term debt 6,594 17,640
Repayments of long-term debt (42,032) (38,872)
Borrowings under margin account 4,387 7,037
Repayments under margin account (2,536) (1,806)
Repurchases of common stock (10,828) (1,793)
Net cash used in financing activities (62,662) (23,713)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 21,238 10
CASH, CASH EQUIVALENTS AND RESTRICTED CASH -Beginning of period 337 318
CASH, CASH EQUIVALENTS AND RESTRICTED CASH -End of period 21,575 328
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 6,425 6,544
Income taxes 2,581 159
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Purchases of property and equipment included in accounts payable $ 2,282 $ 3,944