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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 40,083 $ 37,553
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,955 21,062
Amortization of deferred loan costs 307 685
Stock-based compensation 2,750 2,185
Stock Based Compensation - Restricted Stock   80
Provision for bad debts 44 24
Loss (gain) on disposition of assets 58 (139)
Non-cash operating lease expense 10  
Changes in operating assets and liabilities:    
Receivables 1,462 1,429
Income taxes receivable/payable 20,390 (1,323)
Inventories 392 (536)
Prepaid expenses 1,529 1,261
Accounts payable 616 (1,780)
Accrued expenses (2,681) 110
Net cash provided by operating activities 87,915 60,611
Cash flows from investing activities:    
Proceeds from sale of assets 91 131
Change in construction accounts payable (2,508) (8,669)
Acquisition of property and equipment (23,202) (26,694)
Net cash used in investing activities (25,619) (35,232)
Cash flows from financing activities:    
Payroll taxes from net exercise of stock options (99) (2,468)
Proceeds from exercise of stock options 1,473 5,643
Line-of-credit borrowings 61,000 3,000
Line-of-credit payments (20,000) (3,000)
Principal payments on long-term debt (7,000) (25,000)
Loan issuance cost   (6,500)
Payment of dividends (101,349)  
Net cash used in financing activities (65,975) (28,325)
Change in cash and cash equivalents (3,679) (2,946)
Cash and cash equivalents at beginning of period 38,779 33,526
Cash and cash equivalents at end of period 35,100 30,580
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 1,342 665
Cash paid for income taxes $ 14,766 $ 9,430