v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 455.6 $ 381.4
(Income) loss from discontinued operations, net of tax (15.3) 1.4
Adjustments to reconcile net income to net cash provided by operating activities—    
Depreciation and amortization 177.7 159.1
Loss on early extinguishment of debt 3.4 0.0
Stock-based compensation 25.3 23.8
Deferred tax expense 5.4 5.3
Gain on investments (22.6) (3.2)
Other, net 6.8 4.3
Change in assets and liabilities, net of acquisitions—    
Accounts receivable (63.4) (15.7)
Other assets (28.4) (16.5)
Accounts payable 20.3 (2.5)
Other liabilities 10.6 23.3
Net cash provided by (used in) operating activities of discontinued operations 20.3 (1.9)
Total adjustments 155.4 176.0
Net cash provided by operating activities 595.7 558.8
Cash flows from investing activities:    
Purchases of property, equipment, and intangible assets (382.7) (320.0)
Proceeds from sale of restricted investments 59.6 132.0
Purchases of restricted investments (54.5) (127.8)
Other, net (8.1) (8.1)
Net cash used in investing activities (385.7) (323.9)
Cash flows from financing activities:    
Proceeds from bond issuance 500.0 0.0
Principal payments on debt, including pre-payments (411.8) (10.7)
Borrowings on revolving credit facility 670.0 60.0
Payments on revolving credit facility (600.0) (80.0)
Principal payments under finance lease obligations (12.9) (11.6)
Debt amendment and issuance costs (11.8) 0.0
Repurchases of common stock, including fees and expenses (145.8) (56.8)
Dividends paid on common stock (39.2) (35.1)
Distributions paid to noncontrolling interests of consolidated affiliates (98.1) (73.3)
Taxes paid on behalf of employees for shares withheld (30.9) (19.9)
Other, net 1.1 6.8
Net cash used in financing activities (179.4) (220.6)
Increase in cash, cash equivalents, and restricted cash 30.6 14.3
Cash, cash equivalents, and restricted cash at beginning of period 102.9 123.1
Cash, cash equivalents, and restricted cash at end of period 133.5 137.4
Reconciliation of Cash, Cash Equivalents, and Restricted Cash    
Cash and cash equivalents at beginning of period 72.2 85.4
Restricted cash at beginning of period 30.7 37.7
Cash, cash equivalents, and restricted cash at beginning of period 102.9 123.1
Cash and cash equivalents at end of period 107.7 99.1
Restricted cash at end of period 25.8 38.3
Cash, cash equivalents, and restricted cash at end of period 133.5 137.4
Supplemental schedule of noncash operating, investing, and financing activities:    
Accrued purchases of property, equipment, and intangible assets 23.2 6.0
Operating lease additions and adjustments 0.2 26.5
Joint venture contributions $ 9.4 $ 19.5