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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 164,807 $ 277,742
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 178,578 157,629
Amortization of operating lease assets 136,052 117,622
Deferred income tax provision 53,857 (15,146)
Impairment, closure costs, and asset disposals 21,198 10,216
Provision for credit losses (143) 85
Stock-based compensation expense 60,579 65,657
Other 2,450 (3,044)
Changes in operating assets and liabilities:    
Accounts receivable 29,233 19,039
Inventory 614 (2,312)
Prepaid expenses and other current assets (6,015) (17,514)
Other assets (21,754) 2,864
Accounts payable 5,776 (4,162)
Accrued payroll and benefits 68,514 30,471
Accrued liabilities 1,965 25,552
Unearned revenue (593) (8,665)
Income tax payable/receivable (32,677) (8,985)
Operating lease liabilities (115,069) (112,478)
Other long-term liabilities 1,351 472
Net cash provided by operating activities 548,723 535,043
Investing activities    
Purchases of leasehold improvements, property and equipment (246,758) (237,965)
Purchases of investments (325,069) (328,107)
Maturities of investments 318,505 328,448
Acquisitions of equity method investments (10,025) 0
Net cash used in investing activities (263,347) (237,624)
Financing activities    
Acquisition of treasury stock (54,401) (151,621)
Tax withholding on stock-based compensation awards (47,976) (10,420)
Other financing activities (1,865) (665)
Net cash used in financing activities (104,242) (162,706)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 377 397
Net change in cash, cash equivalents, and restricted cash 181,511 135,110
Cash, cash equivalents, and restricted cash at beginning of period 508,481 280,152
Cash, cash equivalents, and restricted cash at end of period 689,992 415,262
Supplemental disclosures of cash flow information    
Income taxes (refunded) (8,987)  
Income taxes paid   103,439
Purchases of leasehold improvements, property, and equipment accrued in accounts payable and accrued liabilities 72,860 40,250
Acquisition of treasury stock accrued in accounts payable and accrued liabilities $ 0 $ 748