v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 26,787 $ 62,905
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and accretion expense 18,007 8,808
Amortization of debt discount 407 118
Amortization of deferred financing costs 78 87
Amortization of Hi-Crush intangible assets 1,061 0
Stock and unit-based compensation 4,206 622
Deferred income tax 7,521 3,808
Other (5) 206
Changes in operating assets and liabilities:    
Accounts receivable (18,195) (21,771)
Accounts receivable - related party 0 868
Inventories (3,230) 1,824
Spare part inventories (2,467) (1,459)
Prepaid expenses and other current assets (63) (953)
Other long-term assets (770) 42
Accounts payable 3,627 (3,178)
Accounts payable - related parties (41) 45
Deferred revenue (558) 0
Accrued liabilities and other liabilities 3,197 2,263
Net cash provided by operating activities 39,562 54,235
Investing activities:    
Purchases of property, plant and equipment (95,486) (60,940)
Hi-Crush acquisition, net of cash acquired (142,233) 0
Net cash used in investing activities (237,719) (60,940)
Financing Activities:    
Principal payments on term loan borrowings (1,381) (8,226)
Proceeds from borrowings 198,500 0
Issuance costs associated with debt financing (730) (530)
Payment under finance leases (65) (738)
Repayment of notes payable (216) 0
Dividends and distributions (21,005) 0
Net proceeds from IPO 0 303,426
Payment of offering costs 0 (1,581)
Member distributions 0 (15,000)
Net cash provided by financing activities 175,103 277,351
Net increase (decrease) in cash and cash equivalents (23,054) 270,646
Cash and cash equivalents, beginning of period 210,174 82,010
Cash and cash equivalents, end of period 187,120 352,656
Supplemental cash flow information    
Interest 6,134 3,622
Supplemental disclosure of non-cash investing activities:    
Property, plant and equipment in accounts payable and accrued liabilities 41,457 30,648
Asset retirement obligations incurred 4,231 0
Hi-Crush acquisition consideration, equity issuance 189,082 0
Hi-Crush acquisition consideration, Deferred Cash Consideration Note $ 109,253 $ 0

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