v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 1,078,716 $ 1,250,737 $ 956,978
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]      
Depreciation and amortization 715,348 723,860 745,443
Impairment charges 0 0 26,083
Loss on extinguishment of debt 12,386 12,527 7,132
Stock-based compensation expense 139,953 102,788 112,375
Deferred income taxes 86,574 (57,840) (39,354)
Equity investment loss, net 134,313 115,839 64,777
Gain on changes in ownership interests 0 (109,466) 0
Other non-cash (gains) and losses, net (17,549) 13,414 (8,938)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:      
Accounts receivable (210,632) (29,766) 172,361
Inventories (19,950) 17,942 (32,132)
Other current assets (124,297) 36,801 (43,437)
Other long-term assets (40,253) (67,031) (5,792)
Accounts payable 128,303 1,699 26,890
Accrued compensation and benefits (24,042) 14,687 56,209
Other current liabilities (29,963) 46,733 27,082
Income taxes 50,245 (44,214) 1,570
Other long-term liabilities 7,348 (6,672) (8,216)
Net Cash Provided by (Used in) Operating Activities, Total 1,886,500 2,022,038 2,059,031
Cash flows from investing activities:      
Additions of property and equipment (575,864) (555,443) (567,985)
Acquisitions (117,468) (246,068) (26,394)
Proceeds from asset and business sales 34,173 25,862 30,610
Purchase of debt investments held-to-maturity (16,405) (15,319) (37,180)
Purchase of other debt and equity investments (6,031) (9,140) (9,566)
Proceeds from debt investments held-to-maturity 45,413 22,638 99,639
Proceeds from sale of other debt and equity investments 6,723 4,566 10,365
Purchase of equity method investments (27,030) (5,205) (276,202)
Distributions from equity method investments 1,540 6,680 4,913
Net Cash Provided by (Used in) Investing Activities, Total (654,949) (771,429) (771,800)
Cash flows from financing activities:      
Borrowings 5,612,280 6,624,310 2,468,341
Payments on long-term debt (4,788,845) (5,515,213) (3,020,956)
Deferred and debt related financing costs (53,819) (50,874) (69,791)
Purchase Of Treasury Stock From Related Party (484,633) 0 0
Purchase of treasury stock (1,308,366) (1,385,932) (272,219)
Distributions to noncontrolling interests (324,270) (337,042) (280,938)
Net proceeds from issuance of common stock under employee stock plans 23,290 20,453 16,900
Payment, Tax Withholding, Share-Based Payment Arrangement (35,291) (134,040) (65,012)
Contributions from noncontrolling interests 7,078 14,499 14,773
Proceeds from sales of additional noncontrolling interests 3,794 860 50,962
Purchases of noncontrolling interests (25,998) (53,958) (12,555)
Net cash used in financing activities (1,374,780) (816,937) (1,170,495)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 21,151 (18,481) 8,909
Less: Net increase (decrease) in cash, cash equivalents and restricted cash (122,078) 415,191 125,645
Cash, cash equivalents and restricted cash of continuing operations at beginning of the year 879,825 464,634 338,989
Cash, cash equivalents and restricted cash of continuing operations at end of the year $ 757,747 $ 879,825 $ 464,634