v3.25.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 132,611 $ 211,933
Adjustments to reconcile net income to net cash provided by operating activities:    
Distributions from unconsolidated subsidiaries 31,092 14,130
Depreciation and amortization 69,656 108,008
Provision for expected credit losses 1,555 1,460
Equity in earnings of unconsolidated subsidiaries (26,130) (16,736)
Gain on sale or disposal of assets (43) (1,022)
Stock compensation expense 7,924 26,023
Amortization of debt discount, premium, and issuance costs 1,569 1,492
Deferred income taxes (7,348) (34,339)
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable (89,631) (139,109)
Other current assets 562 6,557
Other assets 3,459 (12,847)
Accounts payable 21,094 (7,614)
Accrued expenses (39,535) 53,527
Net cash provided by operating activities 106,835 211,463
Investing activities    
Business combinations, net of cash acquired 0 (5,993)
Purchases of property and equipment (117,023) (108,065)
Proceeds from sale of assets 39 2,333
Net cash used in investing activities (116,984) (111,725)
Financing activities    
Borrowings on revolving facilities 770,000 715,000
Payments on revolving facilities (625,000) (650,000)
Payments on term loans (5,250) (79,085)
Borrowings of other debt 21,353 17,728
Principal payments on other debt (16,691) (23,261)
Dividends paid to common stockholders (15,945) (32,299)
Repurchases of common stock (97,565) (1,400)
Decrease in overdrafts (9,297) (6,648)
Proceeds from issuance of non-controlling interests 10,906 5,751
Distributions to and purchases of non-controlling interests (29,707) (18,370)
Net cash provided by (used in) financing activities 2,804 (72,584)
Net increase (decrease) in cash and cash equivalents (7,345) 27,154
Cash and cash equivalents at beginning of period 59,694 84,006
Cash and cash equivalents at end of period 52,349 111,160
Supplemental information    
Cash paid for interest, excluding amounts received of $44,954 under the interest rate cap contract during the six months ended June 30, 2024 62,065 141,878
Cash paid for taxes $ 21,052 $ 60,826