v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 659.2 $ 556.0
(Income) loss from discontinued operations, net of tax (14.5) 1.8
Adjustments to reconcile net income to net cash provided by operating activities—    
Depreciation and amortization 273.4 241.5
Loss on early extinguishment of debt 3.4 0.0
Stock-based compensation 40.3 38.1
Deferred tax expense 1.6 3.2
Gain on investments (21.8) (6.1)
Other, net 9.7 7.2
Change in assets and liabilities, net of acquisitions—    
Accounts receivable (89.5) (18.8)
Other assets (20.8) (19.5)
Accounts payable 43.5 (32.7)
Accrued payroll 13.6 6.4
Accrued interest payable (5.7) (15.8)
Other liabilities 46.1 70.8
Net cash provided by (used in) operating activities of discontinued operations 19.2 (2.5)
Total adjustments 313.0 271.8
Net cash provided by operating activities 957.7 829.6
Cash flows from investing activities:    
Purchases of property, equipment, and intangible assets (617.2) (507.1)
Proceeds from sale of restricted investments 83.2 160.0
Purchases of restricted investments (79.7) (165.9)
Other, net (13.6) (12.2)
Net cash used in investing activities (627.3) (525.2)
Cash flows from financing activities:    
Proceeds from bond issuance 598.8 0.0
Principal payments on debt, including pre-payments (414.5) (113.2)
Borrowings on revolving credit facility 745.0 140.0
Payments on revolving credit facility (800.0) (80.0)
Principal payments under finance lease obligations (19.7) (17.7)
Debt amendment and issuance costs (13.9) 0.0
Repurchases of common stock, including fees and expenses (203.7) (81.7)
Dividends paid on common stock (57.9) (52.1)
Distributions paid to noncontrolling interests of consolidated affiliates (141.8) (109.4)
Taxes paid on behalf of employees for shares withheld (30.9) (19.9)
Other, net 5.5 0.2
Net cash used in financing activities (333.1) (333.8)
Decrease in cash, cash equivalents, and restricted cash (2.7) (29.4)
Cash, cash equivalents, and restricted cash at beginning of period 102.9 123.1
Cash, cash equivalents, and restricted cash at end of period 100.2 93.7
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 76.2 48.7
Restricted cash at end of period 24.0 45.0
Cash, cash equivalents, and restricted cash at end of period 100.2 93.7
Supplemental schedule of noncash operating, investing, and financing activities:    
Accrued purchases of property, equipment, and intangible assets 9.7 0.0
Operating lease additions and adjustments 3.9 36.4
Joint venture contributions $ 9.4 $ 19.5