| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net Income (Loss) Attributable to Parent | ||||||
-106,157 | 59,331 | -36,141 | -187,087 | -64,642 | ||
Adjustments to reconcile net loss to net cash provided by operating activities | ||||||
Depreciation, Depletion and Amortization | ||||||
292,150 | 259,145 | 159,280 | 100,979 | 69,547 | ||
Amortization of deferred financing fees | ||||||
1,400 | 3,100 | 5,200 | 4,152 | 2,112 | ||
(Gain) loss on disposal of assets | ||||||
-4,470 | -5,047 | 2,555 | 387 | 270 | ||
Gain on Business Interruption Insurance Recovery | ||||||
0 | 14,892 | 0 | 0 | - | ||
Asset Impairment Charges | ||||||
12,346 | 0 | 0 | 185 | 3,914 | ||
Loss on debt extinguishment/modification, including prepayment premiums | ||||||
-526 | -7,563 | -31,084 | 0 | 0 | ||
Loss on contingent consideration liability | ||||||
0 | 13,254 | 0 | 0 | - | ||
Loss on foreign currency translation | ||||||
0 | 2,621 | 0 | 0 | - | ||
Unrealized loss on derivative | ||||||
7,628 | 880 | -791 | 1,784 | 0 | ||
Realized (gain) loss on derivative | ||||||
239 | 697 | -172 | -3,641 | - | ||
Stock-based compensation | ||||||
28,977 | 17,166 | 10,578 | 1,985 | 312 | ||
Accrued interest on loan—related party | ||||||
- | - | - | 471 | 2,174 | ||
Other non-cash expense, net | ||||||
0 | 0 | 322 | 0 | 0 | ||
Changes in operating assets and liabilities: | ||||||
Decrease (increase) in trade and other accounts receivable, net | ||||||
-172,566 | -27,485 | 113,047 | 13,027 | -36,933 | ||
Decrease in inventories | ||||||
-17,181 | 2,725 | 15,475 | -8,485 | -11,841 | ||
Decrease in prepaid and other current assets | ||||||
-3,703 | -2,734 | -20,294 | 5,994 | -105 | ||
Decrease (increase) in other assets | ||||||
242 | -362 | 336 | -32 | -1,047 | ||
Increase in accounts payable | ||||||
-17,799 | 11,304 | -141 | 14,214 | -12,650 | ||
Decrease in accrued expenses | ||||||
-103,609 | -32,318 | 41,446 | 19,735 | -13,185 | ||
Increase (decrease) in customer contract liabilities | ||||||
0 | -4,940 | 0 | 0 | - | ||
Increase (decrease) in other liabilities | ||||||
7,858 | -2,396 | -21,178 | 346 | 283 | ||
Net cash provided by operating activities | ||||||
305,463 | 350,311 | 79,691 | -54,054 | 37,521 | ||
Cash flows from investing activities: | ||||||
Cash Acquired from Acquisition | ||||||
68,807 | - | - | - | - | ||
Payments to Acquire Businesses, Gross | ||||||
- | 35,003 | 116,576 | 203,900 | 0 | ||
Purchase of property and equipment | ||||||
200,385 | 277,569 | 141,340 | 23,126 | 26,086 | ||
Advances of deposit on equipment | ||||||
7,451 | 4,153 | 23,096 | 420 | 1,114 | ||
Payments for leasehold improvements | ||||||
0 | 1,651 | 157 | 0 | 46 | ||
Implementation of software | ||||||
4,408 | 883 | 687 | 453 | 69 | ||
Proceeds from disposal of assets | ||||||
29,114 | 4,652 | 30,565 | 711 | 1,278 | ||
Equity method investment | ||||||
0 | 1,146 | 0 | 0 | - | ||
Proceeds from insurance recoveries | ||||||
223 | 18,247 | 515 | 22 | 0 | ||
Payments received (advances) on note receivable | ||||||
- | - | - | 5 | 1 | ||
Net cash provided (used) in investing activities | ||||||
-114,100 | -297,506 | -250,776 | -227,161 | -26,038 | ||
Cash flows from financing activities: | ||||||
Proceeds from issuance of common stock | ||||||
0 | 0 | 255,494 | 0 | 0 | ||
Proceeds from the secured notes and term loan facilities | ||||||
0 | 348,250 | 285,000 | 100,000 | 0 | ||
Payments on the secured notes and term loan facility | ||||||
3,500 | 284,952 | 289,902 | 5,647 | 5,000 | ||
Payments on finance leases | ||||||
6,035 | 4,119 | 2,861 | 2,668 | 1,661 | ||
Payment for Debt Extinguishment or Debt Prepayment Cost | ||||||
0 | 0 | 15,800 | 0 | 0 | ||
Payment of debt issuance costs | ||||||
1,229 | 7,331 | 13,792 | 15,052 | 1,135 | ||
Payment of contingent consideration liability | ||||||
0 | 11,962 | 0 | 0 | 2,500 | ||
Shares repurchased and retired related to share repurchase program | ||||||
0 | 104,861 | 0 | 0 | - | ||
Shares repurchased and retired related to stock-based compensation | ||||||
5,982 | 3,579 | 0 | 0 | - | ||
Contributions | ||||||
- | - | - | -200,000 | 222 | ||
Net cash provided (used) in financing activities | ||||||
-16,746 | -68,554 | 218,122 | 276,633 | -10,518 | ||
Non-cash effect of foreign translation adjustments | ||||||
192 | -165 | 163 | 80 | 250 | ||
Net increase in cash, cash equivalents and restricted cash | ||||||
174,809 | -15,914 | 47,200 | -4,502 | 1,215 | ||
Supplemental disclosure of cash flow information: | ||||||
Interest expense, net | ||||||
20,836 | 24,528 | 30,104 | 25,516 | 19,157 | ||
CVR settlement | ||||||
0 | 19,918 | 0 | 0 | - | ||
Income taxes | ||||||
1,726 | 5,529 | 0 | 0 | 220 | ||
Non-cash investing and financing activities: | ||||||
Change in accrued capital expenditures | ||||||
-17,274 | 2,930 | 21,549 | - | - | ||
Non-cash additions to finance right-of use assets | ||||||
6,269 | - | - | - | - | ||
Non-cash additions to finance lease liabilities, including current maturities | ||||||
6,286 | - | - | - | - | ||
Non-cash additions to operating right-of-use assets | ||||||
65,551 | - | - | - | - | ||
Non-cash additions to operating lease liabilities, including current maturities | ||||||
65,297 | - | - | - | - | ||
Fair value of C&J assets acquired | ||||||
806,218 | - | - | - | - | ||
106,627 shares of NexTier common stock issued in exchange for C&J capital stock and replacement awards | ||||||
485,124 | - | - | - | - | ||
C&J liabilities assumed | ||||||
321,094 | - | - | - | - | ||
Non-cash purchases of property and equipment | ||||||
- | - | - | 9,364 | 3,138 | ||
Non-cash additions to operating right-of-use assets | ||||||
- | - | - | 1,281 | 0 | ||
Non-cash additions to capital lease obligations | ||||||
- | - | - | 0 | 0 | ||
Non-cash issuance of acquisition shares | ||||||
- | - | - | 0 | 0 | ||
Non-cash forgiveness of related party loan | ||||||
- | - | - | 22,646 | 0 | ||
Non-cash issuance of Class A and C Units | ||||||
- | - | - | 42,669 | 0 | ||