v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net income $ 167,719 $ 166,497 $ 383,121 $ 268,958  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation 93,773 71,837 263,150 217,996  
Amortization of intangible assets 75,282 32,719 151,411 98,042  
Non-cash stock-based compensation expense     31,046 25,628  
(Benefit from) provision for deferred income taxes     (841) 84,030  
Equity in earnings of unconsolidated affiliates, net     (34,799) (23,911)  
Impairments of equity method investments     7,873 0  
Gains on sales and impairments of assets, net     (26,161) (13,445)  
Loss on extinguishment of debt 3,219 0 3,219 0  
Non-cash interest expense, net     2,766 3,724  
Other non-cash items, net     (1,661) 1,102  
Changes in assets and liabilities, net of acquisitions:          
Accounts receivable     (450,246) (304,802)  
Contract assets     (710,196) (453,510)  
Inventories     (2,408) (7,527)  
Other assets, current and long-term portion     30,864 (55,572)  
Accounts payable and accrued expenses     504,291 316,030  
Contract liabilities     144,068 (5,263)  
Other liabilities, current and long-term portion     92,277 21,496  
Net cash provided by operating activities     387,774 172,976  
Cash flows from investing activities:          
Cash paid for acquisitions, net of cash acquired     (1,634,219) (24,479)  
Capital expenditures     (275,657) (179,764)  
Proceeds from sales of property and equipment     46,377 42,342  
Payments for other investments     (5,603) 0  
Proceeds from other investments     17,000 2,650  
Other investing activities, net     (3,734) 3,924  
Net cash used in investing activities     (1,855,836) (155,327)  
Cash flows from financing activities:          
Proceeds from credit facilities and term loans     6,652,537 4,407,886  
Repayments of credit facilities and term loans     (5,476,649) (4,327,327)  
Proceeds from issuance of 5.850% senior notes     647,764 0  
Repayments of 6.625% senior notes     (74,884) 0  
Payments of finance lease obligations     (112,300) (126,553)  
Repurchases of common stock     0 (77,326)  
Payments of acquisition-related contingent consideration     (11,368) (17,482)  
Payments for acquisition-related contingent assets     (8,952) 0  
Payments to non-controlling interests, net     (31,103) (18,193)  
Payments for stock-based awards     (18,326) (4,830)  
Other financing activities, net     (12,530) (23,216)  
Net cash provided by (used in) financing activities     1,554,189 (187,041)  
Effect of currency translation on cash     (341) 907  
Net increase (decrease) in cash and cash equivalents     85,786 (168,485)  
Cash and cash equivalents - beginning of period     396,030 399,903 $ 399,903
Cash and cash equivalents - end of period $ 481,816 $ 231,418 481,816 231,418 $ 396,030
Supplemental cash flow information:          
Interest paid     146,322 131,052  
Income taxes paid, net of refunds     18,098 36,621  
Supplemental disclosure of non-cash information:          
Additions to property and equipment from finance leases and other financing arrangements     $ 212,763 $ 187,640