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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 177,117 $ 122,188
Adjustments to reconcile net income to net cash provided by operating activities:    
Distributions from unconsolidated subsidiaries 8,841 11,140
Depreciation and amortization 102,364 102,120
Provision for expected credit losses 761 111
Equity in earnings of unconsolidated subsidiaries (19,057) (11,564)
Gain on sale or disposal of assets (23) (1,476)
Stock compensation expense 20,508 17,769
Amortization of debt discount, premium and issuance costs 1,174 1,123
Deferred income taxes (10,876) (1,965)
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable (23,135) (32,431)
Other current assets (5,997) (2,128)
Other assets 5,472 1,275
Accounts payable 7,096 4,879
Accrued expenses 22,033 44,296
Government advances 0 (77,319)
Net cash provided by operating activities 286,278 178,018
Investing activities    
Business combinations, net of cash acquired (7,732) (19,241)
Purchases of property, equipment, and other assets (118,399) (93,177)
Investment in businesses (9,800) (6,990)
Proceeds from sale of assets 56 5,314
Net cash used in investing activities (135,875) (114,094)
Financing activities    
Borrowings on revolving facilities 435,000 565,000
Payments on revolving facilities (535,000) (375,000)
Borrowings of other debt 22,298 17,494
Principal payments on other debt (26,373) (16,874)
Dividends paid to common stockholders (31,821) (32,799)
Repurchase of common stock (1,506) (178,623)
Decrease in overdrafts (467) (11,055)
Proceeds from issuance of non-controlling interests 14,812 6,955
Distributions to and purchases of non-controlling interests (24,085) (18,663)
Net cash used in financing activities (147,142) (43,565)
Net increase in cash and cash equivalents 3,261 20,359
Cash and cash equivalents at beginning of period 97,906 74,310
Cash and cash equivalents at end of period 101,167 94,669
Supplemental information    
Cash paid for interest, excluding amounts received of $103 and $38,284 under the interest rate cap contract 133,581 74,217
Cash paid for taxes $ 42,755 $ 16,423