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
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 44,464 $ (40,251)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 116,449 115,280
Deferred income taxes 5,864 (9,009)
Share-based compensation 22,171 27,411
Non-cash rent expense 17,630 15,635
Impairment charges associated with long-lived assets 1,280 0
Loss (gain) on disposal of property and equipment, net 904 (49,743)
Amortization of debt discounts and issuance costs 3,919 3,918
Changes in operating assets and liabilities 6,734 17,909
Other (3,124) (825)
Net cash provided by operating activities 216,291 80,325
Cash flows from investing activities:    
Capital expenditures (337,076) (252,640)
Proceeds from sale-leaseback transactions 78,040 174,246
Other (462) 692
Net cash used in investing activities (259,498) (77,702)
Cash flows from financing activities:    
Proceeds from borrowings 44,291 8,657
Repayments of debt (7,430) (11,539)
Proceeds from revolving credit facility 620,000 420,000
Repayments of revolving credit facility (620,000) (390,000)
Repayments of finance lease liabilities (508) (697)
Payments of debt discounts and issuance costs (2,550) 0
Proceeds from stock option exercises 13,276 1,194
Proceeds from issuances of common stock in connection with the employee stock purchase plan 1,450 0
Other (109) (476)
Net cash provided by financing activities 48,420 27,139
Effect of exchange rates on cash and cash equivalents 136 (110)
Increase in cash and cash equivalents 5,349 29,652
Cash and cash equivalents – beginning of period 25,509 31,637
Cash and cash equivalents – end of period $ 30,858 $ 61,289