v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income including noncontrolling interests $ 132,157 $ 234,070
Adjustments to reconcile net (loss) income to net cash used in operating activities    
Depreciation and amortization 106,681 85,844
Amortization of debt issue costs 3,669 3,834
Loss (gain) on disposal of property and equipment 798 187
Loss (gain) on sale of business (19,300) 0
Deferred taxes 3,167 27,841
Foreign currency transaction gains and losses 2,240 (5,327)
Equity in losses (earnings) of unconsolidated joint ventures 20,350 (6,937)
Return on investments in unconsolidated joint ventures 21,123 26,562
Stock-based compensation 34,713 32,726
Contributions of treasury stock 59,789 54,023
Changes in assets and liabilities, net of acquisitions    
Accounts receivable 32,775 (90,740)
Contract assets (51,178) (70,659)
Prepaid expenses and other assets (31,874) (17,249)
Accounts payable (10,647) 45,365
Accrued expenses and other current liabilities 22,425 (47,559)
Contract liabilities 26,788 39,497
Income taxes (12,059) 3,713
Other long-term liabilities (18,998) (4,327)
Net cash provided by operating activities 322,619 310,864
Cash flows from investing activities:    
Capital expenditures (48,961) (36,030)
Proceeds from sale of property and equipment 0 35
Proceeds from sale of business 23,966 0
Payments for acquisitions, net of cash acquired (330,123) (118,294)
Investments in unconsolidated joint ventures (79,176) (62,383)
Return of investments in unconsolidated joint ventures 7,537 28,358
Net cash used in investing activities (426,757) (188,314)
Cash flows from financing activities:    
Proceeds from borrowings under revolving credit facility 569,300 243,700
Repayments of borrowings under revolving credit facility (453,300) (243,700)
Repurchases of convertible notes due 2025 0 (113,405)
Proceeds from term loan 0 450,000
Repayment of delayed draw term loan 0 (350,000)
Payments for debt issuance costs 0 (2,571)
Contributions by noncontrolling interests 504 1,503
Distributions to noncontrolling interests (55,945) (62,827)
Repurchases of common stock (109,987) (64,994)
Taxes paid on vested stock (20,412) (18,958)
Redemption of warrants (4) 0
Proceeds from issuance of common stock 5,700 4,796
Net cash used in financing activities (64,144) (156,456)
Effect of exchange rate changes (1,152) 2,912
Net increase (decrease) in cash, cash equivalents, and restricted cash (169,434) (30,994)
Cash, cash equivalents and restricted cash:    
Beginning of year 466,388 453,548
End of period $ 296,954 $ 422,554