v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 381,376 $ 443,598
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, accretion, and amortization 162,686 135,012
Gain on remeasurement of U.S. denominated intercompany loans (28,044) (99,906)
Non-cash compensation expense 45,734 37,229
Non-cash asset impairment and decommission costs 48,024 78,720
Deferred and non-cash income tax provision 36,942 61,867
Loss on sale of assets (644) 18,267
Other non-cash items reflected in the Statements of Operations 26,901 34,894
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net (319) (20,726)
Prepaid expenses and other assets (786) (3,566)
Operating lease right-of-use assets, net 75,261 63,453
Accounts payable and accrued expenses 491 (6,378)
Accrued interest 2,093 13,504
Long-term lease liabilities (70,709) (64,822)
Other liabilities (16,743) (21,873)
Net cash provided by operating activities 662,263 669,273
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions (172,284) (652,610)
Capital expenditures (110,816) (102,038)
Purchase of investments (1,252,128) (434,307)
Proceeds from sale of investments 1,226,598 685,840
Repayment of loan from unconsolidated joint venture   115,000
Proceeds from sale of assets 5,048 40,469
Other investing activities (6,910) 4,950
Net cash used in investing activities (310,492) (342,696)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under Revolving Credit Facility 1,025,000 80,000
Repayments under Revolving Credit Facility (445,000)  
Repayment of Term Loans (11,500) (5,750)
Repayment of Tower Securities (750,000) (1,165,000)
Repurchase and retirement of common stock (2,245) (130,696)
Payment of dividends on common stock (267,846) (241,640)
Proceeds from employee stock purchase/stock option plans 37,031 48,884
Payments related to taxes on stock options and restricted stock units (20,127) (24,695)
Other financing activities (1,657) (1,516)
Net cash used in financing activities (436,344) (1,440,413)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 8,311 13,702
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (76,262) (1,100,134)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:    
Beginning of period 437,021 1,400,657
End of period 360,759 300,523
Cash paid during the period for:    
Interest 255,956 211,943
Income taxes 66,895 23,213
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:    
Right-of-use assets obtained in exchange for new operating lease liabilities 19,794 76,120
Operating lease modifications and reassessments 94,973 74,419
Right-of-use assets obtained in exchange for new finance lease liabilities $ 1,489 $ 2,724