Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (21,043,000) $ (28,886,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 63,317,000 66,721,000
Impairment expense 57,454,000 0
Deferred income tax expense (benefit) (4,321,000) (10,360,000)
Amortization of deferred debt issuance costs 655,000 269,000
Stock-based compensation 14,822,000 5,396,000
Provision for credit losses 0 140,000
Loss on disposal of assets 38,603,000 28,076,000
Changes in operating assets and liabilities:    
Accounts receivable (53,878,000) (53,762,000)
Other current assets 561,000 325,000
Inventories 457,000 89,000
Prepaid expenses 3,343,000 7,711,000
Accounts payable (426,000) 44,933,000
Accrued and other current liabilities 3,764,000 828,000
Net cash provided by operating activities 103,308,000 61,480,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (144,519,000) (52,187,000)
Proceeds from sale of assets 2,951,000 1,267,000
Net cash used in investing activities (141,568,000) (50,920,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of insurance financing 0 (4,093,000)
Payment of debt issuance costs (824,000) 0
Proceeds from exercise of equity awards 741,000 3,235,000
Tax withholdings paid for net settlement of equity awards (3,786,000) (5,773,000)
Net cash used in financing activities (3,869,000) (6,631,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (42,129,000) 3,929,000
CASH AND CASH EQUIVALENTS - Beginning of period 111,918,000 68,772,000
CASH AND CASH EQUIVALENTS - End of period $ 69,789,000 $ 72,701,000