XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 44.6 $ 52.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 76.6 68.5
Non-cash lease expense 19.5 18.7
Non-cash interest expense, net 4.0 3.1
Equity-based compensation expense 14.4 20.0
Net (gain) loss on disposals, consolidations and deconsolidations 3.4 6.8
Loss on debt extinguishment 0.0 5.1
Deferred income taxes (1.8) 7.6
Equity in earnings of unconsolidated affiliates, net of distributions received 0.2 0.2
Changes in operating assets and liabilities, net of acquisitions and divestitures:    
Accounts receivable 8.5 (12.1)
Other operating assets and liabilities (82.1) (47.1)
Net cash provided by operating activities 87.3 123.5
Cash flows from investing activities:    
Purchases of property and equipment (46.1) (47.9)
Payments for acquisitions, net of cash acquired (48.0) (264.6)
Proceeds from disposals of facilities and other assets 42.9 1.5
Purchases of equity investments (3.8) (1.7)
Proceeds from sales of equity investments 0.0 4.0
Other investing activities (19.3) (18.5)
Net cash used in investing activities (74.3) (327.2)
Cash flows from financing activities:    
Principal payments on long-term debt (299.4) (973.8)
Borrowings of long-term debt 382.2 1,295.4
Payments of debt issuance costs 0.0 (14.9)
Distributions to non-controlling interest holders (116.3) (80.7)
Proceeds related to ownership transactions with non-controlling interest holders 3.1 1.0
Other financing activities (2.0) (5.7)
Net cash provided by financing activities (32.4) 221.3
Net decrease in cash and cash equivalents (19.4) 17.6
Cash and cash equivalents at beginning of period 269.5 195.9
Cash and cash equivalents at end of period $ 250.1 $ 213.5