CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 137,530	$ 173,559
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,835	11,710
Depreciation and amortization – marketing and reservation system	18,581	14,608
Gain on sale and disposal of business and assets, net	0	(3,309)
Franchise agreement acquisition cost amortization	9,380	7,623
Non-cash stock compensation and other charges	23,689	17,770
Non-cash interest, investment, and affiliate (income) loss, net	(3,098)	7,459
Deferred income taxes	2,157	(5,493)
Equity in net gain of affiliates, less distributions received	637	745
Franchise agreement acquisition costs, net of reimbursements	(46,150)	(27,016)
Change in working capital and other	(36,822)	(38,307)
Net cash provided by operating activities	125,739	159,349
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in property and equipment	(45,684)	(49,866)
Investment in intangible assets	(1,385)	(1,824)
Proceeds from sale of assets and business	0	32,893
Asset acquisition, net of cash acquired	0	(856)
Contributions to investments in affiliates	(15,328)	(669)
Proceeds from sale of equity method investments	868	0
Purchases of investments, employee benefit plans	(3,206)	(3,294)
Proceeds from sales of investments, employee benefit plans	1,099	1,854
Issuance of notes receivable	(4,284)	(1,987)
Collections of notes receivable	9,296	63
Other items, net	(526)	(305)
Net cash used in investing activities	(59,150)	(23,991)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings pursuant to revolving credit facilities	185,000	0
Debt issuance costs	(755)	(24)
Purchases of treasury stock	(234,455)	(15,140)
Proceeds from exercise of stock options	5,616	2,359
Dividends paid	(27,534)	(26,453)
Net cash used in financing activities	(72,128)	(39,258)
Net change in cash and cash equivalents	(5,539)	96,100
Effect of foreign exchange rate changes on cash and cash equivalents	140	(520)
Cash and cash equivalents at beginning of period	41,566	511,605
Cash and cash equivalents at end of period	36,167	607,185
Cash payments during the period for
Income taxes, net of refunds	32,204	40,144
Interest, net of capitalized interest	28,841	21,614
Non-cash investing and financing activities
Dividends declared but not paid	15,136	13,249
Investment in property, equipment and intangibles acquired in accounts payable and accrued liabilities	8,716	5,715
Asset acquisition from extinguishment of note receivable	$ 0	$ 20,446