v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net income $ 145,738 $ 90,133 $ 215,401 $ 102,461  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation 86,096 69,934 169,377 146,159  
Amortization of intangible assets 37,516 32,687 76,130 65,323  
Non-cash stock-based compensation expense     19,750 16,314  
Benefit from deferred income taxes     (5,757) (26,224)  
Equity in earnings of unconsolidated affiliates, net     (14,573) (17,356)  
Impairments of equity method investments     7,873 0  
Gains on sales and impairments of assets, net     (16,598) (8,831)  
Non-cash interest expense, net     1,646 2,545  
Other non-cash items, net     (60) (129)  
Changes in assets and liabilities, net of acquisitions:          
Accounts receivable     (143,611) (41,145)  
Contract assets     (463,079) (240,582)  
Inventories     182 (4,035)  
Other assets, current and long-term portion     29,296 (17,635)  
Accounts payable and accrued expenses     198,515 140,518  
Contract liabilities     (11,255) (37,550)  
Other liabilities, current and long-term portion     57,085 4,178  
Net cash provided by operating activities     120,322 84,011  
Cash flows from investing activities:          
Cash paid for acquisitions, net of cash acquired     (266,852) (7,246)  
Capital expenditures     (188,312) (111,076)  
Proceeds from sales of property and equipment     20,361 26,659  
Payments for other investments     (4,000) 0  
Proceeds from other investments     16,362 2,650  
Other investing activities, net     (3,467) 2,360  
Net cash used in investing activities     (425,908) (86,653)  
Cash flows from financing activities:          
Proceeds from credit facilities and term loans     3,177,258 2,876,247  
Repayments of credit facilities and term loans     (2,817,710) (2,892,143)  
Payments of finance lease obligations     (79,710) (77,682)  
Repurchases of common stock     0 (77,326)  
Payments of acquisition-related contingent consideration     (11,368) (11,873)  
Payments for acquisition-related contingent assets     (8,952) 0  
Payments to non-controlling interests, including acquisition of interests and distributions     (17,479) (9,966)  
Payments for stock-based awards     (18,289) (4,796)  
Other financing activities, net     1,568 (9,735)  
Net cash provided by (used in) financing activities     225,318 (207,274)  
Effect of currency translation on cash     (121) 1,065  
Net decrease in cash and cash equivalents     (80,389) (208,851)  
Cash and cash equivalents - beginning of period     396,030 399,903 $ 399,903
Cash and cash equivalents - end of period $ 315,641 $ 191,052 315,641 191,052 $ 396,030
Supplemental cash flow information:          
Interest paid     90,695 87,830  
Income tax (refunds) payments, net     (12,281) 33,913  
Supplemental disclosure of non-cash information:          
Additions to property and equipment from finance leases and other financing arrangements     $ 125,551 $ 132,200