XML 19 R6.htm IDEA: XBRL DOCUMENT v3.25.2
UNAUDITED CONDENSED 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) including noncontrolling interests in subsidiaries $ 22,091 $ (9,018)
Adjustments to reconcile net income (loss) including noncontrolling interests in subsidiaries to net cash provided by operating activities:    
Depreciation, depletion and amortization 22,055 11,973
Amortization of debt discount and issuance costs 95 0
Accretion of asset retirement obligation 867 254
Compensation expense for share-based awards 1,876 1,749
(Gain) loss on foreign currency exchange (435) 202
Change in fair value of equity securities 2,558 31,445
Gain on sale of equity securities (3,512) (28,861)
Unrealized (gain) loss on derivatives (789) 3,401
Deferred income taxes 3,646 (10,939)
Changes in assets and liabilities:    
Accounts receivable 3,501 61,727
Inventories 1,760 (1,368)
Prepaid expenses and other assets (4,114) (3,949)
Accounts payable and accrued expenses 2,551 20,437
Royalties and contingent legal fees payable 231 (5,917)
Deferred revenue 164 (159)
Net cash provided by operating activities 52,545 70,977
Cash flows from investing activities:    
Acquisition, net of cash acquired and working capital adjustments (Note 3) 1,230 0
Patent acquisition 0 (9,000)
Purchases of equity securities (12,543) (15,544)
Sales of equity securities 15,165 57,854
Purchases of property and equipment (940) (508)
Net additions to oil and gas properties (3,363) (142,635)
Net cash used in investing activities (451) (109,833)
Cash flows from financing activities:    
Contributions from noncontrolling interest 0 15,250
Borrowings on the Benchmark revolving credit facility 0 71,475
Paydown of Benchmark revolving credit facility (8,500) 0
Paydown of Deflecto term loan 1,200 0
Taxes paid related to net share settlement of share-based awards (670) (1,068)
Proceeds from exercise of stock options 30 223
Net cash (used in) provided by financing activities (10,340) 85,880
Effect of exchange rates on cash and cash equivalents 1,087 (127)
Increase in cash and cash equivalents 42,841 46,897
Cash and cash equivalents, beginning 273,880 340,091
Cash and cash equivalents, ending 316,721 386,988
Noncash investing and financing activities:    
Patent acquisition of prepaid option 15,000 0
Accrued patent costs $ 0 $ 5,000