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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 112,290 $ 245,580 $ 261,478
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 299,509 279,923 267,700
Deferred income taxes 8,153 42,553 29,488
Gain on disposal of property and equipment (42,440) (88,564) (60,528)
Non-cash equity compensation 11,943 12,486 10,807
Insurance and claims accruals, net of current portion (5,246) 7,726 5,582
Loss (gain) on investments in equity securities, net 278 (12,195) (40,317)
Loss from equity method investment 1,046 0 0
Other (7,612) (13,295) (3,105)
Changes in certain working capital items:      
Accounts receivable, net 73,921 3,174 (101,007)
Other current assets 10,266 (18,333) (27,903)
Accounts payable 3,288 (3,665) 14,742
Other current liabilities 8,970 (6,679) (24,118)
Net cash provided by operating activities 474,366 448,711 332,819
Cash flows from investing activities:      
Additions to property and equipment (598,785) (507,252) (370,850)
Proceeds from sales of property and equipment 190,087 189,673 177,801
Net cash invested in acquisitions (188) (184,118) (201,845)
Investment in equity securities, net (2,931) (20,250) (10,000)
Payments to acquire equity method investment (3,385) 0 0
Purchase of promissory note (25,000) 0 0
Decrease in notes receivable 5,258 7,614 7,593
Net cash used in investing activities (434,944) (514,333) (397,301)
Cash flows from financing activities:      
Repayments of short-term debt (50,000) (3,750) (27,500)
Proceeds from issuance of short-term debt 45,000 0 5,000
Repayments of long-term debt (90,000) (100,000) 0
Proceeds from issuance of long-term debt 50,000 370,000 250,000
Dividends on common stock (34,208) (32,162) (29,083)
Repurchases of common stock 0 (110,400) (104,444)
Tax withholding related to net share settlements of restricted stock awards (6,359) (4,082) (4,270)
Distribution to noncontrolling interest 0 (1,572) (35)
Other (1,500) 0 0
Net cash provided by (used in) financing activities (87,067) 118,034 89,668
Effect of exchange rate fluctuations on cash 2,128 632 (324)
Net increase (decrease) in cash and cash equivalents (45,517) 53,044 24,862
Cash and cash equivalents, beginning of period 107,240 54,196 29,334
Cash and cash equivalents, end of period 61,723 107,240 54,196
Supplemental disclosures of cash flow information:      
Interest paid 27,212 11,186 4,228
Income taxes paid 17,892 40,313 81,185
Supplemental schedule of non-cash investing and financing activities:      
Notes receivable issued upon sale of property and equipment 3,145 5,577 5,953
Change in fair value of interest rate swaps (4,512) 6,886 3,610
Property and equipment acquired included in accounts payable 14,239 5,937 7,124
Property and equipment disposed included in other receivables 0 110 0
Dividends accrued but not yet paid at end of period 8,882 8,220 7,895
Noncontrolling interest associated with acquisition 0 0 33,556
Contingent consideration associated with acquisition $ (800) $ 13,400 $ 2,500