v3.26.1
UNAUDITED 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 $ 157,017 $ 79,346
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 38,198 25,883
Amortization of deferred financing fees 1,575 1,574
Stock-based compensation 46,180 25,806
(Gain) loss on investment in partnership (1,185) 312
Gain on insurance subsidiary deposits and investments (529) (2,864)
Deferred taxes (36,217) (17,029)
Noncash lease expense 21,212 25,140
Other noncash operating activities, net 345 29
Change in operating assets and liabilities    
Accounts receivable, net (6,368) 3,648
Other receivables (15,448) 23,101
Prepaid expenses and other current assets 78,191 (23,836)
Other assets (4,776) (14,526)
Escrow funds (3,322) 1,716
Operating lease liabilities (3,717) (1,005)
Accounts payable (32,937) (4,740)
Accrued payroll and benefits 173 43,959
Accrued self-insurance liabilities 73,326 50,143
Refund liability 0 27,800
Other accrued expenses 57,979 105,875
Other liabilities 2,145 (147,514)
NET CASH PROVIDED BY OPERATING ACTIVITIES 371,842 202,818
Cash flows from investing activities    
Non-operating distributions from investment in partnership 2,752 2,822
Purchase of equity securities (63,440) (15,111)
Sale of equity securities 17,143 0
Acquisition of facilities (190,799) (243)
Purchase of property and equipment (48,355) (36,289)
NET CASH USED IN INVESTING ACTIVITIES (282,699) (48,821)
Cash flows from financing activities    
Borrowing on line of credit 62,000 0
Payments on line of credit (162,000) 0
Payments on long-term debt (4,035) (9,022)
Noncontrolling interest distribution (208) (220)
Purchase of equity in noncontrolling interest (404) 0
Taxes paid related to net share settlement of stock-based compensation awards (39,634) (7,955)
NET CASH USED IN FINANCING ACTIVITIES (144,281) (17,197)
Net change in cash (55,138) 136,800
Cash, cash equivalents, and restricted cash - beginning of period 232,051 160,842
Cash, cash equivalents, and restricted cash - end of period 176,913 297,642
Cash and cash equivalents 164,451 294,173
Restricted cash (included in prepaid expenses and other current assets) 12,462 3,469
Cash, cash equivalents, and restricted cash 176,913 297,642
Supplemental disclosures of cash flow information    
Interest 17,260 17,959
Income taxes 22,918 80,419
Non-cash financing and investing activity    
Accrued capital expenditures $ 7,616 $ 5,417