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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 726,033 $ 729,008
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 82,028 67,066
Stock-based compensation 89,917 100,828
Provision for credit losses on accounts and other receivables 103,495 89,976
Amortization of deferred financing costs and discounts 5,417 5,949
Amortization of intangible assets and premium on receivables 170,630 165,423
Loss on extinguishment of debt 0 1,934
Deferred income taxes (18,911) (7,987)
Gain on disposition of business, net (13,712) 0
Other non-cash operating expense, net 491 601
Changes in operating assets and liabilities (net of acquisitions/disposition):    
Accounts and other receivables (809,487) (950,237)
Prepaid expenses and other current assets 114,237 (25,570)
Derivative assets and liabilities, net (7,939) 10,756
Other assets 33,090 (16,154)
Accounts payable, accrued expenses and customer deposits 428,580 267,014
Net cash provided by operating activities 903,869 438,607
Investing activities    
Acquisitions, net of cash acquired (429,914) (160,117)
Purchases of property and equipment (117,158) (107,631)
Proceeds from disposal of a business, net of cash disposed 197,025 0
Other 4,401 0
Net cash used in investing activities (345,646) (267,748)
Financing activities    
Proceeds from issuance of common stock 101,202 22,109
Repurchase of common stock (546,910) (1,295,644)
Borrowings on securitization facility, net 109,000 364,000
Deferred financing costs (238) (10,282)
Proceeds from notes payable 0 3,000,000
Principal payments on notes payable (70,500) (2,800,500)
Borrowings from revolver 6,495,000 4,338,000
Payments on revolver (6,770,000) (3,658,000)
Borrowings on swing line of credit, net 180,723 194
Other 264 0
Net cash used in financing activities (501,459) (40,123)
Effect of foreign currency exchange rates on cash (30,431) (80,551)
Net increase in cash and cash equivalents and restricted cash 26,333 50,185
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 2,315,513 2,300,880
Supplemental cash flow information    
Cash paid for interest 327,099 138,310
Cash paid for income taxes $ 319,764 $ 309,567