XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 28,189 $ 22,587
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,281 58,144
Operating lease right-of-use assets expense 6,636 7,272
Interest accretion on landfill and environmental remediation liabilities 5,324 5,310
Amortization of debt issuance costs 1,597 1,724
Stock-based compensation 5,345 5,218
Loss (gain) on sale of property and equipment 254 (806)
Southbridge Landfill non-cash closure charge 2,077 58
Non-cash expense from acquisition activities 549 71
Withdrawal costs - multiemployer pension plan 0 3,591
Deferred income taxes 1,514 (1,267)
Changes in assets and liabilities, net of effects of acquisitions and divestitures:    
Accounts receivable 6,400 (15,141)
Landfill operating lease contract expenditures (3,386) (3,197)
Accounts payable (8,585) 1,634
Prepaid expenses, inventories and other assets (2,908) (1,297)
Accrued expenses, contract liabilities and other liabilities (4,083) (17,986)
Net cash provided by operating activities 111,915 71,495
Cash Flows from Investing Activities:    
Acquisitions, net of cash acquired (25,379) (73,496)
Additions to property, plant and equipment (77,271) (75,998)
Proceeds from sale of property and equipment 430 542
Proceeds from property insurance settlement 0 332
Net cash used in investing activities (102,220) (148,620)
Cash Flows from Financing Activities:    
Proceeds from debt borrowings 154,400 121,500
Principal payments on debt (145,008) (149,774)
Payments of debt issuance costs (1,531) 0
Proceeds from the exercise of share based awards 100 3,355
Proceeds from the public issuance of Class A Common Stock 0 100,446
Proceeds from the unregistered sale of Class A Common Stock 0 2,619
Net cash provided by financing activities 7,961 78,146
Net increase in cash and cash equivalents 17,656 1,021
Cash and cash equivalents, beginning of period 3,471 4,007
Cash and cash equivalents, end of period 21,127 5,028
Cash paid during the period for:    
Interest 15,239 17,200
Income tax (refunds) payments (1,650) 84
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Non-current assets obtained through long-term obligations 16,937 9,797
Landfill    
Adjustments to reconcile net income to net cash provided by operating activities:    
Operating lease right-of-use assets expense $ 5,711 $ 5,580