Registration of securities issued in business combination transactions

Consolidated statements of cash flow (Unaudited)

v3.22.2.2
Consolidated statements of cash flow (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:        
Net income (loss) $ 94,219 $ (34,595) $ (43,538) $ (118,548)
Adjustments to reconcile net income (loss) to cash provided by operating activities:        
Depreciation, depletion and amortization 108,280 70,365 140,687 150,662
Stock based compensation 40,304      
Loss on disposal of assets, net 1,989 4,075 9,777 8,447
Loss on extinguishment of debt 17,095   515  
Non-cash loss on extinguishment of debt 10,230      
Amortization of debt issuance costs 2,729 1,063 2,154 1,958
Bad debt expense, net of recoveries 5 83 (1,164) 2,778
Deferred tax expense 1,024      
Unrealized gain on investments, net (8,526)      
Provision for inventory obsolescence       2,804
Changes in operating assets and liabilities:        
Accounts receivable (174,371) (25,317) (89,639) 12,378
Inventories (63,881) (7,423) (16,118) (3,489)
Prepaid expenses and other assets (7,108) 201 3,750 (1,027)
Accounts payable (12,750) (286) 31,639 (5,129)
Accrued expenses 82,629 18,614 6,162 (5,780)
Deferred revenues and other current liabilities     (283)  
Deferred revenues and other liabilities 9,691      
Net cash provided by operating activities 84,464 26,780 43,942 45,054
Cash flows from investing activities:        
Investment in property, plant & equipment (116,069) (53,607) (87,400) (48,037)
Proceeds from sale of assets 46,101 17,586 17,553 4,680
Acquisitions, net of cash acquired (257,267) (2,430) (4,292) (1,260)
Investment in preferred shares of BPC (47,202)   (4,244)  
Initial investment in Flotek (10,000)      
Other investments (3,893)      
Net cash used in investing activities (388,330) (38,451) (78,383) (44,617)
Cash flows from financing activities:        
Proceeds from issuance of long-term debt 587,560 42,084 223,730 187,622
Repayments of long-term debt (497,825) (18,856) (182,402) (201,316)
Borrowings from revolving credit agreements 197,233 14,000    
Repayments to revolving credit agreements (122,883) (10,000)    
Payment of debt issuance costs (23,584) (1,127) (1,979) (1,043)
Purchase of noncontrolling interests     (577)  
IPO Preparation costs     (1,982)  
Member contribution 5,000      
Proceeds from issuance of common stock 329,118      
Payment of THRC related equity (72,931)      
Payment of common stock issuance costs (27,444)      
Other     75 (585)
Net cash provided by (used in) financing activities 374,244 26,101 36,865 (15,322)
Net increase in cash, cash equivalents, and restricted cash 70,378 14,430 2,424 (14,885)
Cash, cash equivalents, and restricted cash beginning of period 5,376 2,952 2,952 17,837
Cash, cash equivalents, and restricted cash end of period 75,754 17,382 5,376 2,952
Supplemental cash flow information:        
Cash payments for interest 13,139 12,624 23,544 20,952
Cash payments for taxes 118   (212) 391
Non-cash investing and financing activities:        
Capital expenditures included in accounts payable 27,377 $ 7,837    
Operating lease liabilities incurred from obtaining right-of-use-assets $ 44,968      
Acquisition of land in exchange for other current liability     30,000  
Acquisition of non-controlling interests in exchange for other current liability     3,893  
Retirement of long-term debt by member     $ 18,000 $ 10,549