v3.26.1
UNAUDITED 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 $ 80,668 $ 28,380
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 18,077 12,705
Amortization of deferred financing fees 787 787
Stock-based compensation 20,348 12,202
(Gain) loss on investment in partnership (455) 298
Gain on insurance subsidiary deposits and investments (131) (1,652)
Deferred taxes (12,461) (19,580)
Noncash lease expense 11,000 12,703
Other noncash operating activities, net 364 0
Change in operating assets and liabilities    
Accounts receivable, net (19,909) (38,901)
Other receivables (11,218) 13,721
Prepaid expenses and other current assets 77,201 11,800
Other assets (3,608) (3,833)
Escrow funds 144 3,312
Operating lease liabilities (1,062) 64
Accounts payable (13,932) 20,606
Accrued payroll and benefits 55,045 61,446
Accrued self-insurance liabilities 25,327 21,224
Refund liability 0 16,359
Other accrued expenses 14,723 22,280
Other liabilities (4,573) (23,677)
NET CASH PROVIDED BY OPERATING ACTIVITIES 236,335 150,244
Cash flows from investing activities    
Non-operating distributions from investment in partnership 1,437 1,301
Purchase of equity securities (20,050) 0
Acquisition of facilities (86,519) 0
Purchase of property and equipment (21,829) (17,717)
NET CASH USED IN INVESTING ACTIVITIES (126,961) (16,416)
Cash flows from financing activities    
Borrowing on line of credit 45,000 0
Payments on line of credit (100,000) 0
Payments on long-term debt (1,439) (4,065)
Noncontrolling interest distribution (208) 0
Purchase of equity in noncontrolling interest (404) 0
Taxes paid related to net share settlement of stock-based compensation awards (10,663) 0
NET CASH USED IN FINANCING ACTIVITIES (67,714) (4,065)
Net change in cash 41,660 129,763
Cash, cash equivalents, and restricted cash - beginning of period 232,051 160,842
Cash, cash equivalents, and restricted cash - end of period 273,711 290,605
Cash and cash equivalents 247,981 287,512
Restricted cash (included in prepaid expenses and other current assets) 25,730 3,093
Cash, cash equivalents, and restricted cash 273,711 290,605
Supplemental disclosures of cash flow information    
Interest 9,099 8,085
Income taxes 325 357
Non-cash financing and investing activity    
Accrued capital expenditures $ 8,392 $ 6,665