v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net Income (Loss) $ (51,314) $ 281,335
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 298,364 292,555
Deferred income taxes 59,721 (32,367)
Stock-based compensation expense 20,838 30,398
Other non-cash adjustments 3,908 (5,711)
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Receivables (236,140) (33,938)
Inventories, net (170,793) (30,469)
Contract assets (13,993) (12,908)
Other current assets (5,470) (13,437)
Other assets and liabilities 8,214 (21,195)
Accounts payable 318,199 126,620
Accrued liabilities (82,748) (115,532)
Contract liabilities 6,694 8,017
Net cash provided by operating activities 155,480 473,368
Cash flows from investing activities:    
Cash used for acquisitions (25,907) (885,526)
Purchases of property, plant and equipment (84,792) (188,713)
Proceeds from sale of property, plant and equipment 4,260 15,432
Cash used for equity investments (664) (666)
Net cash used in investing activities (107,103) (1,059,473)
Cash flows from financing activities:    
Borrowings under revolving credit facility 599,000 3,823,000
Repayments under revolving credit facility (434,000) (3,590,000)
Proceeds from long-term debt and other loans   750,000
Repayments of long-term debt and other loans (8,186) (1,450)
Payments of loan costs   (19,465)
Payment of acquisition-related deferred and contingent consideration (4,047) (2,122)
Tax withholdings on and exercises of equity awards (13,727) (26,505)
Repurchase of common stock (303,519) (413,957)
Net cash (used in) provided by financing activities (164,479) 519,501
Net change in cash and cash equivalents (116,102) (66,604)
Cash and cash equivalents at beginning of period 181,753 153,624
Cash and cash equivalents at end of period 65,651 87,020
Supplemental disclosures of cash flow information:    
Cash paid for interest 146,805 125,333
Cash paid for income taxes 5,924 62,045
Supplemental disclosures of non-cash activities:    
Right-of-use assets obtained in exchange for operating lease obligations 41,652 50,436
Accrued consideration for acquisitions 5,104 6,344
Accrued purchases of property, plant and equipment 3,927 7,378
Accrued excise tax on repurchases of common stock $ 2,806 $ 3,538