XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 78,499 $ 76,198
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 75,228 73,125
Stock-based compensation 14,466 8,040
Amortization included in interest expense 1,631 1,642
Gain on disposition of assets (2,188) (2,688)
Equity in loss (earnings) of investee 559 (178)
Deferred tax expense (benefit) 246 (1,152)
Provision for doubtful accounts 312 1,397
Decrease (increase) in:    
Receivables 2,229 24,208
Prepaid expenses (6,746) (10,833)
Other assets (6,306) (7,523)
Increase (decrease) in:    
Trade accounts payable 325 (1,911)
Accrued expenses (20,355) (24,010)
Operating lease liabilities (32,035) (40,801)
Other liabilities 4,697 13,198
Net cash provided by (used in) operating activities 110,562 108,712
Cash flows from investing activities:    
Acquisitions (18,265) (13,627)
Capital expenditures (29,482) (42,285)
Proceeds from disposition of assets and investments 2,731 3,248
Net cash (used in) provided by investing activities (45,016) (52,664)
Cash flows from financing activities:    
Cash used for purchase of treasury stock (5,341) (5,947)
Net proceeds from issuance of common stock 7,067 4,208
Principal payments on long-term debt (98) (93)
Principal payments on financing leases (333) (333)
Payments on revolving credit facility (70,000) (20,000)
Proceeds received from revolving credit facility 143,000 90,000
Proceeds received from accounts receivable securitization program 6,900 9,800
Payments on accounts receivable securitization program (21,200) (25,000)
Debt issuance costs (23) (25)
Distributions to non-controlling interest (479) (214)
Dividends/distributions (133,119) (127,551)
Net cash used in financing activities (73,626) (75,155)
Effect of exchange rate changes in cash and cash equivalents (120) 10
Net decrease in cash and cash equivalents (8,200) (19,097)
Cash and cash equivalents at beginning of period 44,605 52,619
Cash and cash equivalents at end of period 36,405 33,522
Supplemental disclosures of cash flow information:    
Cash paid for interest 42,520 39,430
Cash paid for foreign, state and federal income taxes $ 2,953 $ 3,182