v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows provided by operating activities:      
Net income $ 229,339 $ 739,126 $ 554,208
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 382,996 488,500 585,950
Goodwill impairment 364,248 0 0
Impairment of non-financial assets 101,027 0 0
Impairment of operating right-of-use assets and related property, plant and equipment 3,683 15,731 8,686
Reduction in carrying value of operating right-of-use assets 36,116 39,787 41,546
Loss on equity method investments 0 0 383
Acquisition-related gain 0 0 (6,160)
Amortization of financing costs and debt discount 5,980 23,533 16,402
Stock compensation expense 102,041 45,870 55,667
Deferred tax benefit (128,919) (102,886) (85,388)
Unrealized foreign exchange movements 26,464 6,911 19,706
Other non-cash items 11,333 31,900 24,332
Changes in operating assets and liabilities:      
Accounts receivable (108,213) 332,616 (57,378)
Unbilled revenue (61,109) (192,176) 118,328
Unearned revenue 68,516 (96,787) 46,523
Other net assets 2,703 (45,473) (161,778)
Net cash provided by operating activities 1,036,205 1,286,652 1,161,027
Cash flows used in investing activities:      
Purchase of property, plant and equipment (174,214) (168,060) (140,692)
Purchase of subsidiary undertakings (net of cash acquired) (2,537) (84,159) (71,766)
Movement of available for sale investments 0 0 (241)
Proceeds from investments in equity 9,089 2,690 0
Purchase of investments in equity (19,871) (17,261) (13,954)
Net cash used in investing activities (187,533) (266,790) (226,653)
Cash flows used in financing activities:      
Debt issue costs (750) (12,679) 0
Drawdown of credit lines and loan facilities 50,000 2,317,480 370,000
Repayment of credit lines and loan facilities (79,762) (2,677,763) (1,265,000)
Proceeds from exercise of equity compensation 9,724 36,187 50,973
Share issue costs (19) (22) (16)
Repurchase of ordinary shares (750,000) (499,998) 0
Share repurchase costs (450) (388) 0
Net cash used in financing activities (771,257) (837,183) (844,043)
Effect of exchange rate movements on cash 31,095 (21,996) (997)
Net increase in cash and cash equivalents 108,510 160,683 89,334
Cash and cash equivalents at beginning of year 538,785 378,102 288,768
Cash and cash equivalents at end of year $ 647,295 $ 538,785 $ 378,102