XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 443,598 $ 313,994
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, accretion, and amortization 135,012 140,929
(Gain) loss on remeasurement of U.S. denominated intercompany loans (99,906) 144,474
Non-cash compensation expense 37,229 40,067
Non-cash asset impairment and decommission costs 78,720 64,895
Loss from extinguishment of debt, net   4,428
Deferred and non-cash income tax provision (benefit) 61,867 (13,126)
Loss on sale of assets 18,267  
Other non-cash items reflected in the Statements of Operations 34,894 31,997
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net (20,726) 80,359
Prepaid expenses and other assets (3,566) (5,671)
Operating lease right-of-use assets, net 63,453 70,045
Accounts payable and accrued expenses (6,378) (23,375)
Accrued interest 13,504 643
Long-term lease liabilities (64,822) (73,023)
Other liabilities (21,873) (56,590)
Net cash provided by operating activities 669,273 720,046
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions (652,610) (61,022)
Capital expenditures (102,038) (107,844)
Purchase of investments (434,307) (681,208)
Proceeds from sale of investments 685,840 651,650
Repayment (funding) of loan to unconsolidated joint venture 115,000 (5,500)
Proceeds from sale of assets 40,469  
Other investing activities 4,950 (2,594)
Net cash used in investing activities (342,696) (206,518)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under Revolving Credit Facility 80,000 195,000
Repayments under Revolving Credit Facility   (255,000)
Proceeds from issuance of Term Loans, net of fees   2,274,815
Repayment of Term Loans (5,750) (2,273,750)
Repayment of Tower Securities (1,165,000)  
Repurchase and retirement of common stock (130,696) (200,019)
Payment of dividends on common stock (241,640) (213,464)
Proceeds from employee stock purchase/stock option plans 48,884 21,302
Payments related to taxes on stock options and restricted stock units (24,695) (18,061)
Other financing activities (1,516) 1,242
Net cash used in financing activities (1,440,413) (467,935)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 13,702 (13,395)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (1,100,134) 32,198
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:    
Beginning of period 1,400,657 250,946
End of period 300,523 283,144
Cash paid during the period for:    
Interest 211,943 193,195
Income taxes 23,213 17,214
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:    
Right-of-use assets obtained in exchange for new operating lease liabilities 76,120 16,133
Operating lease modifications and reassessments 74,419 $ 33,713
Right-of-use assets obtained in exchange for new finance lease liabilities $ 2,724