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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 454,537 $ 480,123
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 53,739 43,783
Stock-based compensation 60,844 66,648
Provision for credit losses on accounts and other receivables 74,418 52,704
Amortization of deferred financing costs and discounts 3,574 4,131
Amortization of intangible assets and premium on receivables 114,169 111,493
Loss on extinguishment of debt 0 1,934
Deferred income taxes (11,799) (10,864)
Investment (gain) loss (172) 345
Other non-cash operating expense, net 1,478 80
Changes in operating assets and liabilities (net of acquisitions):    
Accounts and other receivables (365,572) (1,225,705)
Prepaid expenses and other current assets 78,035 (13,088)
Derivative assets and liabilities, net (14,611) 20,576
Other assets 29,397 (1,283)
Accounts payable, accrued expenses and customer deposits 348,643 510,976
Net cash provided by operating activities 826,680 41,853
Investing activities    
Acquisitions, net of cash acquired (126,694) (33,744)
Purchases of property and equipment (78,922) (66,629)
Other 4,401 0
Net cash used in investing activities (201,215) (100,373)
Financing activities    
Proceeds from issuance of common stock 66,148 18,837
Repurchase of common stock (11,973) (795,302)
Borrowings on securitization facility, net (39,000) 482,000
Deferred financing costs 0 (337)
Proceeds from notes payable 0 3,000,000
Principal payments on notes payable (47,000) (2,777,000)
Borrowings from revolver 4,351,000 1,550,000
Payments on revolver (4,817,000) (1,356,000)
Borrowings on swing line of credit, net 255,750 194
Other 264 0
Net cash (used in) provided by financing activities (241,811) 122,392
Effect of foreign currency exchange rates on cash 38,401 41,866
Net increase in cash and cash equivalents and restricted cash 422,055 105,738
Cash and cash equivalents and restricted cash, beginning of period 2,289,180 2,250,695
Cash and cash equivalents and restricted cash, end of period 2,711,235 2,356,433
Supplemental cash flow information    
Cash paid for interest 215,850 73,323
Cash paid for income taxes $ 238,769 $ 215,653