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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net income $ 362,065 $ 354,857 $ 357,422
Noncash items included in net income:      
Depreciation and amortization 210,105 178,845 157,203
Allowance for credit losses 3,412 1,955 3,074
Deferred income taxes 63,221 10,070 21,634
Loss from property disposals, net 4,477 910 50
Stock-based compensation 14,243 11,636 8,827
Changes in operating assets and liabilities:      
Accounts receivable (14,661) (23,391) (16,624)
Accounts payable (816) 10,752 (9,523)
Change in other assets and liabilities, net (58,344) 32,311 (49,037)
Net cash provided by operating activities 583,702 577,945 473,026
Investing Activities:      
Acquisition of property and equipment (1,043,557) (439,879) (367,429)
Proceeds from disposal of property and equipment 2,694 2,727 1,917
Other 4,999 (11,544) 0
Net cash used in investing activities (1,035,864) (448,696) (365,512)
Financing Activities:      
Repayments of revolving credit facility (1,060,100) 0 (1,000)
Borrowings of revolving credit facility 1,154,100 0 1,000
Borrowings on private shelf agreement 100,000 0 0
Proceeds from stock option exercises 2,574 4,875 4,511
Shares withheld for taxes (9,107) (9,216) (11,752)
Repayment of finance leases (10,193) (14,520) (19,471)
Other financing activity (1,854) (1,563) 0
Net cash (used in) provided by financing activities 175,420 (20,424) (26,712)
Net Increase (Decrease) in Cash and Cash Equivalents (276,742) 108,825 80,802
Cash and cash equivalents, beginning of year 296,215 187,390 106,588
Cash and cash equivalents, end of year $ 19,473 $ 296,215 $ 187,390