Quarterly report pursuant to Section 13 or 15(d)

Consolidated statements of cash flow (Unaudited)

v3.22.2.2
Consolidated statements of cash flow (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 237,581 $ (48,670)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation, depletion and amortization 177,038 105,606
Stock-based compensation 53,230  
Loss on disposal of assets, net 2,656 7,472
Non-cash loss on extinguishment of debt 10,472  
Amortization of debt issuance costs 4,683 1,847
Bad debt expense, net of recoveries 5 2,562
Deferred tax expense 2,357  
Unrealized gain on investments, net (8,526)  
Changes in operating assets and liabilities:    
Accounts receivable (220,467) (31,396)
Inventories (107,150) (14,525)
Prepaid expenses and other assets (18,551) (1,223)
Accounts payable 6,332 4,823
Accrued expenses 111,233 11,511
Deferred revenues and other liabilities 5,770 (317)
Net cash provided by operating activities 256,663 37,690
Cash flows from investing activities:    
Investment in property, plant & equipment (239,477) (70,585)
Proceeds from sale of assets 46,687 17,487
Acquisitions, net of cash acquired (354,927) (2,430)
Investment in preferred shares of BPC (47,202)  
Initial investment in Flotek (10,000)  
Other investments (24,839)  
Net cash used in investing activities (629,758) (55,528)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 818,758 160,230
Repayments of long-term debt (515,780) (138,887)
Borrowings from revolving credit agreements 253,683 29,500
Repayments to revolving credit agreements (322,683) (18,500)
Payment of debt issuance costs (33,260) (1,090)
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)  
Net cash provided by financing activities 434,461 31,253
Net increase in cash, cash equivalents, and restricted cash 61,366 13,415
Cash, cash equivalents, and restricted cash beginning of period 5,376 2,952
Cash, cash equivalents, and restricted cash end of period 66,742 16,367
Supplemental cash flow information:    
Cash payments for interest 22,239 17,311
Cash payments for taxes 459 110
Non-cash investing and financing activities:    
Capital expenditures included in accounts payable 26,478 $ 7,837
Operating lease liabilities incurred from obtaining right-of-use-assets $ 45,412