Kodiak Gas Services Inc
For the period ended Jun 30, 2024. Filed Aug 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 13, 2024
KGS$42.26-5.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Six Months Ended June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net Income | $36,945 | $5,174 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 116,407 | 90,327 |
| Equity compensation expense | 8,159 | 908 |
| Amortization of debt issuance costs | 4,946 | 11,071 |
| Non-cash lease expense | 1,648 | 1,786 |
| Provision for credit losses | 4,589 | 2 |
| Inventory reserve | 476 | 250 |
| Gain on sale of property, plant and equipment | (1,173) | (721) |
| Change in fair value of derivatives | (14,293) | 21,529 |
| Deferred tax provision | 7,104 | 761 |
| Changes in operating assets and liabilities, exclusive of effects of business acquisition: | ||
| Accounts receivable | (45,933) | (21,705) |
| Inventories | (3,147) | (4,907) |
| Contract assets | 12,000 | (958) |
| Prepaid expenses and other current assets | 4,671 | (10,681) |
| Accounts payable | 21,983 | 10,954 |
| Accrued and other liabilities | 11,871 | (14,971) |
| Contract liabilities | 6,308 | 29,149 |
| Other assets | 63 | — |
| Net cash provided by operating activities | 172,624 | 117,968 |
| Cash flows from investing activities: | ||
| Net cash acquired in acquisition of CSI Compressco LP | 9,458 | — |
| Purchase of property, plant and equipment | (177,186) | (94,034) |
| Proceeds from sale of property, plant and equipment | 411 | 1,055 |
| Other | (35) | (14) |
| Net cash used in investing activities | (167,352) | (92,993) |
| Cash flows from financing activities: | ||
| Borrowings on debt instruments | 1,945,775 | 499,279 |
| Payments on debt instruments | (1,867,851) | (428,812) |
| Principal payments on other borrowings | (1,843) | — |
| Payment of debt issuance cost | (16,346) | (32,202) |
| Dividends paid to stockholders | (62,393) | — |
| Principal payments on finance leases | (408) | — |
| Offering costs | (1,162) | — |
| Cash paid for shares withheld to cover taxes | (294) | — |
| Distribution to stockholders | — | (42,300) |
| Distribution to noncontrolling interest | (2,460) | — |
| Net cash used in financing activities | (6,982) | (4,035) |
| Net (decrease) increase in cash and cash equivalents | (1,710) | 20,940 |
| Cash and cash equivalents - beginning of period | 5,562 | 20,431 |
| Cash and cash equivalents - end of period | $3,852 | $41,371 |
| Supplemental cash disclosures: | ||
| Cash paid for interest | $40,861 | $116,370 |
| Cash paid for taxes | $9,225 | $5,726 |
| Supplemental disclosure of non-cash investing activities: | ||
| Decrease in accrued capital expenditures | $2,702 | $9,946 |
| Supplemental disclosure of non-cash financing activities: | ||
| Dividends equivalent | $(455) | $— |
| Issuance of common shares | $188,099 | $— |
| Issuance of preferred shares and noncontrolling interest | $154,186 | $— |
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