XML 28 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ 199,421 $ (47,296) $ 33,888
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation 366,765 433,929 371,240
Amortization of intangible assets 139,853 169,233 135,908
Non-cash stock-based compensation expense 32,672 33,335 27,446
(Benefit from) provision for deferred income taxes (34,433) (140,863) 9,549
Equity in earnings of unconsolidated affiliates, net (30,228) (30,697) (28,836)
Gains on sales and impairments of assets, net (24,138) (21,408) (39,692)
Loss on extinguishment of debt 11,344 0 0
Non-cash interest expense, net 5,533 5,837 4,172
Other non-cash items, net 13,711 8,875 4,743
Changes in assets and liabilities, net of acquisitions:      
Accounts receivable 29,634 45,007 6,298
Contract assets 207,703 (54,185) (304,351)
Inventories 26,345 33,018 (20,523)
Other assets, current and long-term portion 20,546 75,047 68,603
Accounts payable and accrued expenses (161,734) 165,892 192,119
Contract liabilities 247,502 49,384 (39,372)
Other liabilities, current and long-term portion 71,129 (37,831) (68,895)
Net cash provided by operating activities 1,121,625 687,277 352,297
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash acquired (79,933) (69,388) (635,763)
Capital expenditures (148,855) (192,941) (263,352)
Proceeds from sales of property and equipment 66,038 84,110 81,470
Payments for other investments (801) (1,899) (3,981)
Proceeds from other investments 1,503 425 400
Other investing activities, net 4,558 1,632 43
Net cash used in investing activities (157,490) (178,061) (821,183)
Cash flows from financing activities:      
Proceeds from credit facilities and term loans 4,099,102 4,378,200 4,065,000
Repayments of credit facilities and term loans (5,252,750) (4,509,950) (3,241,128)
Proceeds from issuance of 5.900% senior notes 549,758 0 0
Repayments of 6.625% senior notes (224,046) 0 0
Payments of finance lease obligations (153,957) (167,615) (181,481)
Repurchases of common stock 0 0 (81,291)
Payments of acquisition-related contingent consideration (24,593) (21,638) (35,149)
Payments for acquisition-related contingent assets (12,351) 0 (17,636)
Payments to non-controlling interests, including acquisition of interests and distributions (32,943) (14,478) (728)
Payments for stock-based awards (2,946) (10,330) (4,098)
Other financing activities, net (35,508) (5,187) (22,592)
Net cash (used in) provided by financing activities (1,090,234) (350,998) 480,897
Effect of currency translation on cash (3,559) 751 (2,155)
Net (decrease) increase in cash and cash equivalents (129,658) 158,969 9,856
Cash and cash equivalents - beginning of period 529,561 370,592 360,736
Cash and cash equivalents - end of period 399,903 529,561 370,592
Supplemental cash flow information:      
Interest paid 195,338 237,645 106,484
Income taxes paid, net of refunds 43,953 9,608 8,603
Supplemental disclosure of non-cash information:      
Additions to property and equipment from finance leases and other financing arrangements $ 151,009 $ 147,736 $ 232,249