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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 636,197 $ 641,700
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss on disposal of assets and impairments 37,470 11,503
Depreciation 632,347 562,174
Amortization of intangibles 117,740 113,956
Deferred income taxes, net of acquisitions 29,060 91,098
Current period provision for expected credit losses 13,363 11,097
Amortization of debt issuance costs 4,862 3,879
Share-based compensation 56,110 48,395
Interest accretion 14,827 13,218
Payment of contingent consideration recorded in earnings   (2,982)
Adjustments to contingent consideration 30,367 (1,030)
Other (3,535) (8,412)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Net change in operating assets and liabilities, net of acquisitions 2,068 15,541
Net cash provided by operating activities 1,570,876 1,500,137
Cash flows from investing activities:    
Payments for acquisitions, net of cash acquired (573,185) (1,272,910)
Capital expenditures for property and equipment (615,554) (618,313)
Proceeds from disposal of assets 8,678 23,341
Other (5,552) 9,296
Net cash used in investing activities (1,185,613) (1,858,586)
Cash flows from financing activities:    
Proceeds from long-term debt 1,242,554 3,148,624
Principal payments on notes payable and long-term debt (1,383,415) (2,052,412)
Payment of contingent consideration recorded at acquisition date (4,255) (12,114)
Change in book overdraft 137 (5,983)
Payments for repurchase of common shares   (424,999)
Payments for cash dividends (196,815) (177,710)
Tax withholdings related to net share settlements of equity-based compensation (29,415) (17,466)
Debt issuance costs   (11,454)
Proceeds from issuance of shares under employee share purchase plan 3,908 3,271
Proceeds from sale of common shares held in trust 765 660
Net cash provided by (used in) financing activities (366,536) 450,417
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,060) (3,210)
Net increase in cash, cash equivalents and restricted cash 17,667 88,758
Cash, cash equivalents and restricted cash at beginning of period 181,364 219,615
Cash, cash equivalents and restricted cash at end of period 199,031 308,373
In connection with its acquisitions, the Company assumed liabilities as follows:    
Payments for acquisitions, net of cash acquired (573,185) (1,272,910)
Liabilities assumed and notes payable issued to sellers of businesses acquired $ 127,073 $ 179,126