Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (107,020) $ 163,010 $ 173,862
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 153,290 145,304 88,138
Impairment expense 38,002 3,405 0
Deferred income tax (benefit) expense (27,701) 48,758 49,704
Amortization of deferred revenue rebate 0 0 615
Amortization of deferred debt issuance costs 543 542 403
Stock‑based compensation 9,100 7,776 5,482
Provision for credit losses 448 949 0
Loss on disposal of assets 58,136 106,812 59,220
Changes in operating assets and liabilities:      
Accounts receivable 127,491 (10,177) (3,300)
Other current assets 1,978 1,351 207
Inventories (293) 3,917 (168)
Prepaid expenses (232) (4,386) (1,418)
Accounts payable (95,697) (25,242) 9,720
Accrued liabilities (18,527) 13,088 9,853
Accrued interest (394) 183 761
Net cash provided by operating activities 139,124 455,290 393,079
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (100,603) (502,894) (284,197)
Proceeds from sale of assets 6,386 7,595 3,593
Net cash used in investing activities (94,217) (495,299) (280,604)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from borrowings 0 110,000 77,378
Repayments of borrowings (130,000) (50,000) (80,946)
Payment of finance lease obligation (30) (272) 0
Proceeds from insurance financing 6,821 0 5,824
Repayments of insurance financing (1,348) (4,547) (4,495)
Payment of debt issuance costs 0 0 (1,732)
Proceeds from exercise of equity awards 0 1,164 247
Tax withholdings paid for net settlement of equity awards (614) 0 0
Net cash (used in) provided by financing activities (125,171) 56,345 (3,724)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (80,264) 16,336 108,751
CASH AND CASH EQUIVALENTS — Beginning of year 149,036 132,700 23,949
CASH AND CASH EQUIVALENTS — End of year $ 68,772 $ 149,036 $ 132,700