XML 13 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income (loss) $ 230,955 $ (75,418)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 110,054 96,969
Amortization of debt issuance costs 3,061 2,485
Equity-based compensation expense 27,014 23,140
Deferred income taxes 56,133 (21,655)
Legal settlements expense   394,181
Loss on impairment 11,459 8,694
Other (3,988) 1,423
Change in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable, net (20,936) (40,227)
Other current assets (3,334) (77,165)
Other assets 676 309
Accounts payable and other accrued liabilities (404,942) 23,057
Accrued salaries and benefits (1,841) (3,038)
Other liabilities 8,681 17,723
Government relief funds   (4,442)
Net cash provided by operating activities 12,992 346,036
Investing activities:    
Cash paid for acquisitions, net of cash acquired (53,550) (349)
Cash paid for capital expenditures (486,891) (285,410)
Proceeds from sale of property and equipment 10,227 633
Other (2,935) (1,925)
Net cash used in investing activities (533,149) (287,051)
Financing activities:    
Borrowings on long-term debt 350,000  
Principal payments on revolving credit facility (15,000) (35,000)
Principal payments on long-term debt (40,968) (15,938)
Payment of debt issuance costs (1,518)  
Repurchase of shares for payroll tax withholding, net of proceeds from stock option exercises (824) (45,193)
Contributions from noncontrolling partners in joint ventures 3,500 2,538
Distributions to noncontrolling partners in joint ventures (2,972) (3,480)
Other 11 30
Net cash provided by (used in) financing activities 502,229 (57,043)
Net (decrease) increase in cash and cash equivalents (17,928) 1,942
Cash and cash equivalents at beginning of the period 100,073 97,649
Cash and cash equivalents at end of the period 82,145 99,591
Effect of acquisitions:    
Assets acquired, excluding cash 59,235 6,766
Liabilities assumed (4,185) (128)
Contingent consideration issued in connection with an acquisition (1,500)  
Redeemable noncontrolling interest resulting from acquisition   (6,289)
Cash paid for acquisitions, net of cash acquired 53,550 349
New Credit Facility [Member]    
Financing activities:    
Borrowings on revolving credit facility $ 210,000 $ 40,000