v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 266,485 $ 294,245
Adjustments to reconcile net income to cash flows provided by operating activities    
Depreciation and amortization 166,385 155,931
Stock-based compensation 25,269 17,725
Amortization included in interest expense 3,387 3,056
Gain on disposition of assets and investments (15,287) (73,961)
Equity in earnings of investee 0 (206)
Deferred tax expense (benefit) 1,561 (8,319)
Provision for doubtful accounts 4,792 3,274
(Increase) decrease in:    
Receivables (41,190) (14,000)
Prepaid expenses (988) (4,601)
Other assets 5,734 (10,571)
(Decrease) increase in:    
Trade accounts payable (490) 759
Accrued expenses (14,371) (8,050)
Operating lease liabilities (33,754) (28,272)
Other liabilities 32,274 30,222
Cash flows provided by operating activities 399,807 357,232
Cash flows from investing activities:    
Acquisitions (101,935) (87,080)
Capital expenditures (75,859) (68,088)
Proceeds from disposition of assets and investments 15,252 121,392
Cash flows used in investing activities (162,542) (33,776)
Cash flows from financing activities:    
Cash used for purchase of treasury stock (6,083) (157,921)
Net proceeds from issuance of common stock 13,136 8,635
Principal payments on long-term debt (243) (208)
Principal payments on financing leases (666) (666)
Payments on revolving credit facility (80,000) (292,000)
Proceeds received from revolving credit facility 170,000 442,000
Payments on accounts receivable securitization program (135,000) (29,400)
Proceeds received from accounts receivable securitization program 135,000 29,400
Debt issuance costs 494 0
Distributions to non-controlling interest (5,012) (995)
Dividends/distributions (325,605) (316,314)
Cash flows used in financing activities (233,979) (317,469)
Effect of exchange rate changes in cash and cash equivalents (148) 278
Net increase in cash and cash equivalents 3,138 6,265
Cash and cash equivalents at beginning of period 64,812 49,461
Cash and cash equivalents at end of period 67,950 55,726
Supplemental disclosures of cash flow information:    
Cash paid for interest 80,789 76,035
Cash paid for foreign, state and federal income taxes $ 5,811 $ 14,666