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
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 27,460 $ (37,966)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 58,197 58,107
Deferred income taxes 6,333 (3,885)
Share-based compensation 5,622 21,438
Non-cash rent expense 9,028 6,009
Impairment charges associated with long-lived assets 0 227
Gain on disposal of property and equipment, net (6,693) (28,597)
Amortization of debt discounts and issuance costs 1,966 1,945
Changes in operating assets and liabilities (23,650) (5,638)
Other (3,915) (2,578)
Net cash provided by operating activities 74,348 9,062
Cash flows from investing activities:    
Capital expenditures (170,814) (110,754)
Proceeds from sale-leaseback transactions 32,676 79,666
Other 1,287 4,805
Net cash used in investing activities (136,851) (26,283)
Cash flows from financing activities:    
Proceeds from borrowings 7,916 3,198
Repayments of debt (3,701) (5,745)
Proceeds from revolving credit facility 345,000 230,000
Repayments of revolving credit facility (280,000) (200,000)
Repayments of finance lease liabilities (244) (358)
Proceeds from stock option exercises 3,456 0
Other (102) (476)
Net cash provided by financing activities 72,325 26,619
Effect of exchange rates on cash and cash equivalents 6 61
Increase in cash and cash equivalents 9,828 9,459
Cash and cash equivalents – beginning of period 25,509 31,637
Cash and cash equivalents – end of period $ 35,337 $ 41,096