v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net income $ 39,528 $ 42,749
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 10,912 12,014
Amortization of intangible assets 559 560
Share-based compensation expense 30,051 6,565
Change in debt discounts and deferred debt issuance costs 1,226 1,088
Deferred income taxes 14,881 8,904
(Gain) loss on sale of property and equipment (159) 97
Changes in other components of working capital 45,381 (43,983)
Other long-term liabilities 5,388 (6,427)
Other, net (904) 1,296
NET CASH PROVIDED BY OPERATING ACTIVITIES 146,863 22,863
Cash Flows from Investing Activities:    
Acquisition of property and equipment (17,994) (30,104)
Proceeds from sale of property and equipment 2,582 496
Investments in securities (38,468) (3,658)
Proceeds from maturities and sales of investments in securities 10,090 9,394
NET CASH USED IN INVESTING ACTIVITIES (43,790) (23,872)
Cash Flows from Financing Activities:    
Proceeds from debt 0 60,000
Repayment of debt (9,563) (189,493)
Cash payments related to share-based compensation (7,117) (5,151)
Payment of dividends (3,291) 0
Repurchase of common stock (20,000) 0
Distributions paid to noncontrolling interests (11,500) (11,750)
Contributions from noncontrolling interests 4,994 0
NET CASH USED IN FINANCING ACTIVITIES (46,477) (146,394)
Net increase (decrease) in cash, cash equivalents and restricted cash 56,596 (147,403)
Cash, cash equivalents and restricted cash at beginning of period 770,194 464,188
Cash, cash equivalents and restricted cash at end of period $ 826,790 $ 316,785