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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:        
Net income $ 96,160 $ 118,971 $ 181,188 $ 210,290
Adjustments to reconcile net income to net cash provided by operating activities—        
Depreciation 73,959 62,757 144,913 124,864
Amortization of intangible assets 107,945 21,291 223,696 42,646
Asset impairment charges 2,800 2,319 2,800 2,319
Change in fair value of contingent consideration liabilities 809 (210) 5,978 (573)
Equity in (earnings) losses of unconsolidated affiliates, net of distributions 4,707 (8,108) (15,783) (13,976)
Amortization of deferred financing costs 1,460 844 2,918 1,690
Gain on sale of property and equipment (1,263) (4,872) (3,456) (9,854)
Gain on sale of investments 0 0 (6,696) 0
Unrealized loss from mark-to-market adjustment on investment 41,654 0 50,047 0
Increase (decrease) in provision for credit losses (428) 23,877 (295) 23,920
Deferred income tax expense (benefit) 8,493 14,253 395 16,747
Non-cash stock-based compensation 28,090 23,923 51,082 42,610
Foreign currency (gain) loss 1,179 (1,054) 2,760 (1,630)
Payments for contingent consideration liabilities 0 0 (63) 0
Changes in operating assets and liabilities, net of non-cash transactions (246,834) (65,043) (435,663) (124,492)
Net cash provided by operating activities 118,731 188,948 203,821 314,561
Cash Flows from Investing Activities:        
Capital expenditures (121,574) (74,898) (231,511) (158,384)
Proceeds from sale of property and equipment 15,594 11,447 24,404 18,670
Proceeds from insurance settlements related to property and equipment 791 273 982 280
Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired (4,809) (35,334) (4,809) (68,112)
Investments in unconsolidated affiliates and other (8,334) (342) (16,653) (114,324)
Cash received from investments 445 2,807 16,905 3,017
Cash paid for intangible assets (62) (324) (336) (324)
Net cash used in investing activities (117,949) (96,371) (211,018) (319,177)
Cash Flows from Financing Activities:        
Borrowings under credit facility 1,520,221 1,055,583 2,889,372 1,884,079
Payments under credit facility (1,446,103) (1,058,022) (2,747,249) (1,714,840)
Payments on other long-term debt (1,902) (757) (3,981) (1,614)
Net borrowings (repayments) of short-term debt 107 0 (15,596) (4,247)
Deferred financing costs 0 0 (48) 0
Payments for contingent consideration liabilities 0 0 (1,514) (263)
Contributions received from (distributions to) non-controlling interests, net 147 (4,121) (391) (5,250)
Payments related to tax withholding for share-based compensation (64,963) (36,572) (76,215) (60,493)
Payments of dividends (10,088) (8,415) (20,930) (17,213)
Repurchase of common stock (84,885) (29,449) (94,364) (48,923)
Net cash provided by (used in) financing activities (87,466) (81,753) (70,916) 31,236
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (786) 1,276 (408) 1,287
Net increase (decrease) in cash, cash equivalents and restricted cash (87,470) 12,100 (78,521) 27,907
Cash, cash equivalents and restricted cash, beginning of period 240,836 202,615 231,887 186,808
Cash, cash equivalents and restricted cash, end of period $ 153,366 $ 214,715 $ 153,366 $ 214,715