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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net income $ 316,384 $ 294,156
Adjustments to reconcile net income to net cash (used for) provided by operating activities:    
Depreciation and amortization 72,880 75,899
Provision for credit losses 3,755 (4,032)
Stock-based compensation 64,249 37,309
Deferred income taxes (7,033) (35,269)
Excess tax benefit on stock-based compensation (5,509) (9,899)
Loss on disposal group held for sale 48,232 21,113
Other operating activities 11,845 3,740
Changes in operating elements:    
Receivables (398,059) 525,761
Contract assets (88,171) 52,810
Prepaid expenses and other 24,588 (7,632)
Increase (Decrease) in Right of Use Asset 5,884 20,374
Accounts payable and outstanding checks 77,397 (122,312)
Accrued compensation 33,921 (106,943)
Accrued transportation expense 68,588 (42,481)
Accrued income taxes 10,634 3,131
Other accrued liabilities 4,809 (2,636)
Increase (Decrease) in Operating Lease Liability (5,917) (17,737)
Other assets and liabilities 2,677 (737)
Net cash provided by operating activities 241,154 684,615
INVESTING ACTIVITIES    
Purchases of property and equipment (19,977) (25,889)
Purchases and development of software (39,122) (42,086)
Proceeds from sale of property and equipment 0 1,324
Net cash used for investing activities (59,099) (66,651)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 79,914 46,061
Stock tendered for payment of withholding taxes (23,902) (23,754)
Repurchase of common stock 0 (63,884)
Cash dividends (220,256) (218,942)
Payments on long-term borrowings (10,000) 0
Proceeds from short-term borrowings 2,461,500 2,778,750
Payments on short-term borrowings (2,471,500) (3,169,750)
Net cash used for financing activities (184,244) (651,519)
Effect of exchange rates on cash and cash equivalents (653) (6,708)
Net change in cash and cash equivalents, including cash and cash equivalents classified within assets held for sale (2,842) (40,263)
Less: net increase in cash and cash equivalents within assets held for sale (10,978) (2,486)
Cash and cash equivalents, beginning of period 145,524 217,482
Cash and cash equivalents, end of period $ 131,704 $ 174,733