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 ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 69,805 $ 36,708
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,117 18,936
Deferred income tax expense 21,083 10,054
Amortization of deferred revenue rebate 0 462
Amortization of deferred debt issuance costs 134 89
Stock-based compensation 1,829 758
Loss on disposal of fixed assets 19,228 7,529
Changes in operating assets and liabilities:    
Accounts receivable (154,516) (53,461)
Other current assets (274) (338)
Inventories 482 (1,327)
Prepaid expenses 759 (742)
Accounts payable 45,324 38,750
Accrued and other current liabilities (1,366) (3,252)
Accrued interest 480 468
Net cash provided by operating activities 36,085 54,634
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (178,912) (75,148)
Proceeds from sale of assets 1,027 317
Net cash used in investing activities (177,885) (74,831)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowings 90,000 46,735
Repayments of borrowings 0 (2,343)
Repayments of insurance financing (1,934) (1,371)
Payment of debt issuance costs 0 (360)
Proceeds from exercise of equity awards 552 0
Net cash provided by financing activities 88,618 42,661
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (53,182) 22,464
CASH AND CASH EQUIVALENTS - Beginning of period 132,700 23,949
CASH AND CASH EQUIVALENTS - End of period $ 79,518 $ 46,413