v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 305,425 $ 183,945
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and intangible asset amortization 678,269 668,678
Amortization of deferred subscriber acquisition costs 122,507 109,335
Amortization of deferred subscriber acquisition revenue (178,489) (169,558)
Share-based compensation expense 32,170 29,387
Deferred income taxes 2,488 48,985
Provision for losses on receivables and inventory 100,882 106,870
Loss on extinguishment of debt 6,443 4,509
Intangible and other asset impairments 1,504 21,296
Unrealized (gain) loss on interest rate swap contracts 41,876 (1,744)
Other non-cash items, net 38,607 38,035
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Deferred subscriber acquisition costs (188,690) (182,834)
Deferred subscriber acquisition revenue 115,365 134,830
Other, net (47,832) (64,729)
Net cash provided by (used in) operating activities 1,030,525 927,005
Cash flows from investing activities:    
Dealer generated customer accounts and bulk account purchases (330,997) (260,056)
Subscriber system asset expenditures (209,188) (284,012)
Purchases of property and equipment (83,052) (87,391)
Proceeds (payments) from interest rate swaps (1,378) (4,229)
Other investing, net 2,056 2,995
Net cash provided by (used in) investing activities (622,559) (632,693)
Cash flows from financing activities:    
Proceeds from long-term borrowings 730,000 905,521
Repayment of long-term borrowings, including call premiums (650,489) (1,017,686)
Proceeds from receivables facility 146,623 145,565
Repayment of receivables facility (114,752) (157,713)
Proceeds (payments) from interest rate swaps 34,163 48,005
Repurchases of common stock, including excise tax (495,111) (93,356)
Dividends on common stock (95,998) (82,172)
Payments on finance leases (14,456) (15,485)
Other financing, net 431 (8,024)
Net cash provided by (used in) financing activities (459,589) (275,345)
Cash and cash equivalents and restricted cash and restricted cash equivalents:    
Net increase (decrease) (51,623) 18,967
Beginning balance 204,065 129,950
Ending balance $ 152,442 $ 148,917