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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,696.7 $ 2,567.6 $ 1,691.5
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation, amortization and accretion 3,355.1 2,332.6 1,882.3
Stock-based compensation expense 169.3 119.5 120.8
Loss on investments, unrealized foreign currency (gain) loss and other non-cash expense (401.2) (535.2) 299.6
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses 684.3 196.4 239.5
Loss on early retirement of long-term obligations 0.4 38.2 71.8
Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest 47.5 39.9 32.9
Deferred income taxes (236.7) (41.2) (22.5)
Changes in assets and liabilities, net of acquisitions:      
Accounts receivable (78.6) (191.7) (175.5)
Prepaid and other assets (196.1) (33.2) 84.4
Deferred rent asset (499.8) (465.6) (322.0)
Right-of-use asset and Operating lease liability, net (9.3) (32.7) (10.9)
Accounts payable and accrued expenses (48.2) 33.2 (69.2)
Accrued interest 6.6 42.9 (1.8)
Unearned revenue (818.9) 743.8 60.7
Other non-current liabilities 25.1 5.4 (0.2)
Cash provided by operating activities 3,696.2 4,819.9 3,881.4
CASH FLOWS FROM INVESTING ACTIVITIES      
Payments for purchase of property and equipment and construction activities (1,873.6) (1,376.7) (1,031.7)
Payments for acquisitions, net of cash acquired (549.0) (19,303.9) (3,799.1)
Proceeds from sales of short-term investments and other non-current assets 19.6 14.3 19.6
Payment for investments in equity securities 0.0 (25.0) 0.0
Deposits and other 47.8 (0.9) 26.6
Cash used for investing activities (2,355.2) (20,692.2) (4,784.6)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from short-term borrowings, net 28.8 0.0 0.0
Borrowings under credit facilities 4,190.0 12,856.9 8,230.4
Proceeds from issuance of senior notes, net 1,293.6 6,761.6 7,925.1
Proceeds from term loans 0.0 7,347.0 1,940.0
Repayments of notes payable, credit facilities, senior notes, secured debt, short-term borrowings, term loans and finance leases (9,625.5) (13,178.1) (13,875.4)
Contributions from noncontrolling interest holders 3,120.8 3,078.2 0.0
Distributions to noncontrolling interest holders (10.9) (223.2) (12.3)
Purchases of common stock (18.8) 0.0 (56.0)
Proceeds from stock options and employee stock purchase plan 32.4 96.8 98.1
Distributions paid on common stock (2,630.4) (2,271.0) (1,928.2)
Proceeds from the issuance of common stock, net 2,291.7 2,361.8 0.0
Payment for early retirement of long-term obligations 0.0 (74.0) (68.2)
Deferred financing costs and other financing activities (94.9) (155.8) (176.5)
Purchases of redeemable noncontrolling interests 0.0 (175.7) (861.7)
Cash (used for) provided by financing activities (1,423.2) 16,424.5 1,215.3
Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash (120.4) (70.3) (28.7)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH (202.6) 481.9 283.4
CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR 2,343.3 1,861.4 1,578.0
CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR $ 2,140.7 $ 2,343.3 $ 1,861.4