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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income (loss) $ 351,705 $ 332,202
Adjustments to reconcile net income (loss) to net cash flow from operating activities:    
Depreciation and amortization 287,347 218,412
Amortization of intangible assets and contract liabilities, net (46,580) (95,540)
Gain on bargain purchase 0 (5,005)
(Gain) loss on extinguishment of debt, net 0 26,397
(Gain) loss on sale of operating assets, net (17,357) 0
Deferred income taxes (60,151) (42,445)
Amortization of share-based compensation 35,959 28,058
Other costs, net (10,157) 7,248
Changes in components of working capital and other operating activities:    
Change in taxes receivable (34,987) (17,927)
Net changes in other operating assets and liabilities 13,482 (164,552)
Net cash provided by (used in) operating activities 519,261 286,848
Cash flows from investing activities    
Capital expenditures (434,653) (268,131)
Proceeds from insurance claims 16,426 0
Cash paid in stock-based business combination, net (400,458) 0
Proceeds from disposal of assets, net 4,885 0
Net cash provided by (used in) investing activities (813,800) (268,131)
Cash flows from financing activities    
Issuance of debt 824,000 600,000
Borrowings on credit facilities 35,000 0
Repayments of credit facilities (35,000) 0
Repayments of debt 0 (673,411)
Debt extinguishment costs 0 (25,697)
Debt issuance costs (10,002) (24,914)
Warrants exercised 628 156
Share repurchases (250,000) (80,000)
Dividend payments (198,150) (42,369)
Taxes withheld on employee stock transactions (57,167) (8,612)
Other 22,578 0
Net cash provided by (used in) financing activities 331,887 (254,847)
Net increase (decrease) in cash, cash equivalents, and restricted cash 37,348 (236,130)
Cash, cash equivalents, and restricted cash, beginning of period 367,745 485,707
Cash, cash equivalents, and restricted cash, end of period $ 405,093 $ 249,577