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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 614,493 $ 494,365
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 55,605 48,150
Stock-based compensation 52,085 35,069
Provision for credit losses on accounts and other receivables 19,419 152,485
Amortization of deferred financing costs and discounts 4,903 5,028
Amortization of intangible assets and premium on receivables 153,579 141,967
Loss on extinguishment of debt 6,230 0
Deferred income taxes 16,246 (5,747)
Investment gain (9) (30,008)
Other 81 (482)
Changes in operating assets and liabilities (net of acquisitions/dispositions):    
Accounts and other receivables (1,020,900) 49,690
Prepaid expenses and other current assets 190,543 26,105
Other assets 28,370 6,129
Accounts payable, accrued expenses and customer deposits 478,896 291,945
Net cash provided by operating activities 599,541 1,214,696
Investing activities    
Acquisitions, net of cash acquired (545,052) (72,557)
Purchases of property and equipment (74,455) (55,019)
Proceeds from disposal of investment 0 52,963
Other (2,281) 0
Net cash used in investing activities (621,788) (74,613)
Financing activities    
Proceeds from issuance of common stock 48,159 95,780
Repurchase of common stock (822,277) (788,409)
Borrowings (payments) on securitization facility, net 398,000 (282,973)
Deferred financing costs (21,508) (2,474)
Proceeds from notes payable 1,150,000 0
Principal payments on notes payable (462,438) (134,097)
Borrowings from revolver 1,140,000 1,198,500
Payments on revolver (798,851) (1,287,899)
Payments on swing line of credit, net (51,049) (20,111)
Other (811) (244)
Net cash provided by (used in) financing activities 579,225 (1,221,927)
Effect of foreign currency exchange rates on cash (24,660) (222,533)
Net increase (decrease) in cash and cash equivalents and restricted cash 532,318 (304,377)
Cash and cash equivalents and restricted cash, beginning of period 1,476,619 1,675,237
Cash and cash equivalents and restricted cash, end of period 2,008,937 1,370,860
Supplemental cash flow information    
Cash paid for interest 96,146 98,564
Cash paid for income taxes $ 147,028 $ 119,089