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
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 1,183 $ 16,140
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation and amortization expense 64,850 59,106
Loss on impairment 0 5,187
Gains on disposal of assets (1,271) (1,226)
Equity earnings from unconsolidated affiliates, net of dividends received (5,701) (420)
Deferred income taxes (36,398) (2,002)
Stock-based compensation expense 12,747 10,568
Amortization of deferred financing fees 2,111 1,114
Discount amortization on long-term debt 473 5,195
Increase (decrease) in cash resulting from changes in:    
Accounts receivable (14,435) (44,144)
Inventory, prepaid expenses and other assets (34,063) (29,298)
Accounts payable, accrued expenses and other liabilities 52,040 (9,463)
Net cash provided by operating activities 41,536 10,757
Cash flows from investing activities:    
Capital expenditures (62,137) (25,906)
Proceeds from asset dispositions 34,094 16,688
Acquisition, net of cash received 0 (12,600)
Net cash used in investing activities (28,043) (21,818)
Cash flows from financing activities:    
Proceeds from borrowings 169,508 0
Debt issuance costs (2,714) (651)
Repayments of debt (138,735) (8,837)
Purchase of treasury stock (2,713) (11,926)
Net cash provided by (used in) financing activities 25,346 (21,414)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 7,214 (43,684)
Net increase (decrease) in cash, cash equivalents and restricted cash 46,053 (76,159)
Cash, cash equivalents and restricted cash at beginning of period 163,683 277,462
Cash, cash equivalents and restricted cash at end of period 209,736 201,303
Cash paid during the period for:    
Interest 36,185 30,766
Income taxes $ 9,551 $ 16,921