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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 407,006 $ 404,575
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss on disposal of assets and impairments 12,558 6,048
Depreciation 417,380 368,887
Amortization of intangibles 78,335 75,098
Deferred income taxes, net of acquisitions 31,427 84,991
Current period provision for expected credit losses 7,035 6,907
Amortization of debt issuance costs 3,241 2,484
Share-based compensation 41,469 27,716
Interest accretion 9,835 8,798
Adjustments to contingent consideration (910) (1,030)
Other (2,828) (2,173)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Net change in operating assets and liabilities, net of acquisitions 12,164 (8,623)
Net cash provided by operating activities 1,016,712 973,678
Cash flows from investing activities:    
Payments for acquisitions, net of cash acquired (213,152) (546,982)
Capital expenditures for property and equipment (394,143) (371,428)
Proceeds from disposal of assets 3,819 16,894
Other (1,145) 9,566
Net cash used in investing activities (604,621) (891,950)
Cash flows from financing activities:    
Proceeds from long-term debt 538,421 1,517,732
Principal payments on notes payable and long-term debt (768,059) (920,107)
Payment of contingent consideration recorded at acquisition date (2,193) (8,898)
Change in book overdraft (234) (54)
Payments for repurchase of common shares   (424,999)
Payments for cash dividends (131,140) (118,812)
Tax withholdings related to net share settlements of equity-based compensation (28,675) (17,266)
Debt issuance costs   (4,668)
Proceeds from issuance of shares under employee share purchase plan 1,841 1,554
Proceeds from sale of common shares held in trust 765 660
Net cash provided by (used in) financing activities (389,274) 25,142
Effect of exchange rate changes on cash, cash equivalents and restricted cash 154 (1,941)
Net increase in cash, cash equivalents and restricted cash 22,971 104,929
Cash, cash equivalents and restricted cash at beginning of period 181,364 219,615
Cash, cash equivalents and restricted cash at end of period 204,335 324,544
In connection with its acquisitions, the Company assumed liabilities as follows:    
Payments for acquisitions, net of cash acquired (213,152) (546,982)
Liabilities assumed and notes payable issued to sellers of businesses acquired $ 45,669 $ 43,693