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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 189.7 $ 178.9
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property and equipment 43.1 38.7
Amortization of operating lease right-of-use assets 24.4 21.7
Amortization of intangibles 31.7 33.7
Amortization of deferred financing costs and debt discount 1.2 1.4
Provision for credit losses 4.9 4.4
Write-off of debt issuance costs 1.1 0.9
Gain on sale of property and equipment (1.6) (1.5)
Non-cash stock compensation 13.2 10.6
Asset impairment 4.9 0.0
Other, net (10.3) (8.8)
Changes in assets and liabilities, excluding effects of acquisitions    
Accounts receivable (31.5) (28.7)
Inventories (16.4) 18.7
Other assets 5.3 10.7
Accounts payable 7.5 (8.3)
Income taxes receivable/payable 4.6 (0.2)
Other liabilities (6.6) (21.7)
Net cash provided by operating activities 265.2 250.5
Cash flows from investing activities    
Purchases of property and equipment (66.7) (46.9)
Acquisitions of businesses, net of cash acquired of $— in 2024 and 2023, respectively (41.9) (44.8)
Proceeds from sale of property and equipment 2.4 2.1
Settlements with interest rate swap counterparties 13.6 12.2
Other (1.8) (0.5)
Net cash used in investing activities (94.4) (77.9)
Cash flows from financing activities    
Proceeds from Term Loan 142.9 0.0
Payments on Term Loan (135.5) (3.7)
Proceeds from vehicle and equipment notes payable 18.8 28.4
Debt issuance costs (1.5) (0.4)
Principal payments on long-term debt (22.7) (22.2)
Principal payments on finance lease obligations (2.2) (2.2)
Dividends paid (75.0) (53.8)
Acquisition-related obligations (1.5) (2.7)
Repurchase of common stock (66.4) 0.0
Surrender of common stock awards by employees (8.0) (5.8)
Net cash used in financing activities (151.1) (62.4)
Net change in cash and cash equivalents 19.7 110.2
Cash and cash equivalents at beginning of period 386.5 229.6
Cash and cash equivalents at end of period 406.2 339.8
Supplemental disclosures of cash flow information    
Interest 37.0 36.3
Income taxes, net of refunds 62.8 64.2
Supplemental disclosure of non-cash activities    
Right-of-use assets obtained in exchange for operating lease obligations 31.5 23.2
Property and equipment obtained in exchange for finance lease obligations 1.9 2.9
Seller obligations in connection with acquisition of businesses 3.8 8.3
Unpaid purchases of property and equipment included in accounts payable 5.5 1.9
Accrued excise tax on common stock repurchases $ 0.5 $ 0.0