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
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (33,724) $ 105,938
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 80,377 68,599
Impairment expense 16,654 0
Deferred income tax expense (benefit) (7,773) 30,937
Amortization of deferred debt issuance costs 270 269
Stock-based compensation 3,433 4,669
Provision for credit losses 448 475
Loss on disposal of assets 28,588 50,425
Changes in operating assets and liabilities:    
Accounts receivable 146,181 (168,999)
Other current assets 1,613 596
Inventories (369) 1,274
Prepaid expenses 5,833 1,417
Accounts payable (135,592) 42,533
Accrued and other current liabilities (8,635) 12,299
Accrued interest (394) 419
Net cash provided by operating activities 96,910 150,851
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (80,702) (325,881)
Proceeds from sale of assets 2,677 1,547
Net cash used in investing activities (78,025) (324,334)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from borrowings 0 90,000
Repayments of borrowings (130,000) (10,000)
Payment of finance lease obligation (30) (123)
Repayments of insurance financing 0 (3,890)
Proceeds from exercise of equity awards 0 1,075
Tax withholdings paid for net settlement of equity awards (585) 0
Net cash provided by (used in) financing activities (130,615) 77,062
NET DECREASE IN CASH AND CASH EQUIVALENTS (111,730) (96,421)
CASH AND CASH EQUIVALENTS - Beginning of period 149,036 132,700
CASH AND CASH EQUIVALENTS - End of period $ 37,306 $ 36,279