Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 69,789 $ 111,918
Accounts receivable - net of allowance for credit losses of $217 and $217, respectively 182,026 128,148
Inventories 3,491 3,949
Prepaid expenses 3,493 6,752
Other current assets 202 297
Total current assets 259,001 251,064
PROPERTY AND EQUIPMENT - net of accumulated depreciation 806,513 808,494
OPERATING LEASE RIGHT-OF-USE ASSETS 755 409
OTHER NONCURRENT ASSETS:    
Other noncurrent assets 1,354 1,269
Total other noncurrent assets 1,354 1,269
TOTAL ASSETS 1,067,623 1,061,236
CURRENT LIABILITIES:    
Accounts payable 170,145 152,649
Operating lease liabilities 588 369
Accrued and other current liabilities 22,925 20,767
Total current liabilities 193,658 173,785
DEFERRED INCOME TAXES 56,732 61,052
NONCURRENT OPERATING LEASE LIABILITIES 197 97
Total liabilities 250,587 234,934
COMMITMENTS AND CONTINGENCIES (Note 10)
SHAREHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value, 30,000,000 shares authorized, none issued, respectively 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized, 104,308,413 and 103,437,177 shares issued, respectively 104 103
Additional paid-in capital 856,605 844,829
Accumulated deficit (39,673) (18,630)
Total shareholders’ equity 817,036 826,302
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 1,067,623 $ 1,061,236