v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net income $ 251,748 $ 246,737
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 66,108 60,946
Stock-based compensation expense 21,495 19,809
Provision for expected credit losses 17,359 16,461
Loss (gain) on sale of assets, net 2,135 (984)
Provision for deferred income taxes 2,053 12,470
Other operating activities, net 1,778 (1,223)
Changes in operating assets and liabilities:    
Trade accounts receivable (52,765) (44,654)
Financing receivables (12,412) (12,927)
Materials and supplies (252) (2,086)
Other current assets (67,288) (18,062)
Accounts payable and accrued expenses 47,996 43,967
Unearned revenue 8,454 17,893
Other long-term assets and liabilities 4,464 (16,333)
Net cash provided by operating activities 290,873 322,014
INVESTING ACTIVITIES    
Acquisitions, net of cash acquired (135,255) (253,578)
Capital expenditures (13,568) (13,857)
Proceeds from sale of assets 1,121 3,470
Other investing activities, net 1,493 874
Net cash used in investing activities (146,209) (263,091)
FINANCING ACTIVITIES    
Payment of contingent consideration (9,495) (3,447)
Issuance of senior notes 0 492,215
Borrowings under revolving commitment 0 11,000
Borrowings under commercial paper, net 101,488 59,989
Repayments of revolving commitment 0 (408,000)
Payment of debt issuance costs 0 (5,986)
Payment of dividends (175,941) (159,373)
Cash paid for common stock purchased (42,826) (14,922)
Other financing activities, net (7,948) (46)
Net cash used in financing activities (134,722) (28,570)
Effect of exchange rate changes on cash (861) 3,052
Net increase in cash and cash equivalents 9,081 33,405
Cash and cash equivalents at beginning of period 100,004 89,630
Cash and cash equivalents at end of period 109,085 123,035
Supplemental disclosure of cash flow information:    
Cash paid for interest 17,729 5,211
Cash paid for income taxes, net 134,763 85,017
Non-cash additions to operating lease right-of-use assets $ 58,896 $ 70,534