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, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ 76,063 $ (1,793) $ (579,369)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 244,397 228,883 235,124
Deferred income taxes 14,577 (13,560) (139,941)
Share-based compensation 50,144 37,291 334,339
Non-cash rent expense 37,544 38,534 22,602
Impairment charges associated with long-lived assets 14,466 2,062 2,076
Loss (gain) on disposal of property and equipment, net 14,089 (99,974) 2,746
Loss on debt extinguishment 0 0 40,993
Write-off of debt discounts and issuance costs 0 0 28,568
Amortization of debt discounts and issuance costs 7,821 7,873 9,590
Changes in operating assets and liabilities 6,465 3,372 26,717
Other (2,562) (1,719) (3,474)
Net cash provided by (used in) operating activities 463,004 200,969 (20,029)
Cash flows from investing activities:      
Capital expenditures (693,902) (591,178) (328,909)
Acquisitions, net of cash acquired (5,708) 0 (9,529)
Proceeds from sale-leaseback transactions 121,831 351,850 73,981
Other 3,619 (4,214) (5,462)
Net cash used in investing activities (574,160) (243,542) (269,919)
Cash flows from financing activities:      
Proceeds from borrowings 44,291 20,084 1,907,577
Repayments of debt (15,026) (25,644) (2,178,004)
Proceeds from revolving credit facility 1,376,000 805,000 159,000
Repayments of revolving credit facility (1,306,000) (785,000) (253,000)
Repayments of finance lease liabilities (1,031) (1,404) (1,514)
Proceeds from financing obligations 1,500 21,350 0
Payments of debt discounts and issuance costs (3,050) (43) (47,586)
Proceeds from the issuance of common stock, net of issuance costs 0 0 701,926
Proceeds from stock option exercises 15,770 3,755 0
Proceeds from issuances of common stock in connection with the employee stock purchase plan 3,479 0 0
Other (381) (1,300) 0
Net cash provided by financing activities 115,552 36,798 288,399
Effect of exchange rate on cash and cash equivalents 61 (353) (9)
Increase (decrease) in cash and cash equivalents 4,457 (6,128) (1,558)
Cash and cash equivalents – beginning of period 25,509 31,637 33,195
Cash and cash equivalents – end of period $ 29,966 $ 25,509 $ 31,637