v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
OPERATING ACTIVITIES    
Net income $ 409,675 $ 410,264
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 99,381 93,177
Stock-based compensation expense 31,786 29,864
Provision for expected credit losses 27,977 24,744
Loss (gain) on sale of assets, net 1,590 (1,334)
Provision for deferred income taxes 2,053 16,317
Other operating activities, net 2,067 (145)
Changes in operating assets and liabilities:    
Trade accounts receivable (79,360) (59,807)
Financing receivables (13,495) (17,785)
Materials and supplies 653 (2,401)
Other current assets (40,972) (18,676)
Accounts payable and accrued expenses 80,987 25,027
Unearned revenue 4,015 16,276
Other long-term assets and liabilities 6,375 (2,158)
Net cash provided by operating activities 532,732 513,363
INVESTING ACTIVITIES    
Acquisitions, net of cash acquired (162,646) (288,308)
Capital expenditures (19,932) (22,360)
Proceeds from sale of assets 2,023 5,886
Other investing activities, net 2,955 1,967
Net cash used in investing activities (177,600) (302,815)
FINANCING ACTIVITIES    
Payment of contingent consideration (17,914) (7,773)
Issuance of senior notes 0 492,215
Borrowings under revolving commitment 0 11,000
Borrowings under commercial paper, net 125,132 0
Repayments of revolving commitment 0 (408,000)
Payment of debt issuance costs 0 (6,087)
Payment of dividends (263,146) (239,450)
Cash paid for common stock purchased (162,891) (18,573)
Other financing activities, net (6,314) 1,523
Net cash used in financing activities (325,133) (175,145)
Effect of exchange rate changes on cash (953) 2,324
Net increase in cash and cash equivalents 29,046 37,727
Cash and cash equivalents at beginning of period 100,004 89,630
Cash and cash equivalents at end of period 129,050 127,357
Supplemental disclosure of cash flow information:    
Cash paid for interest 33,956 19,526
Cash paid for income taxes, net 106,495 110,830
Non-cash additions to operating lease right-of-use assets $ 83,287 $ 110,868