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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 103,338 $ 101,463
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 36,355 36,593
Provision for expected credit losses 59 185
Equity in losses of unconsolidated subsidiaries 3,676 526
(Gain) loss on sale or disposal of assets 42 (14)
Stock compensation expense 332 178
Deferred income taxes (1,618) (3,265)
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable (12,829) (27,011)
Other current assets 1,224 (9,944)
Other assets (4,217) 1,796
Accounts payable and accrued liabilities (11,307) (966)
Net cash provided by operating activities 115,055 99,541
Investing activities    
Business combinations, net of cash acquired (5,144) (1,446)
Purchase of customer relationships 0 (4,382)
Purchases of property and equipment (32,494) (25,864)
Proceeds from sale of assets 23 20
Net cash used in investing activities (37,615) (31,672)
Financing activities    
Borrowings from related party revolving promissory note 10,000 0
Payments on related party revolving promissory note (60,000) (70,000)
Borrowings of other debt 6,618 5,471
Principal payments on other debt (4,378) (4,074)
Distributions to and purchases of non-controlling interests (2,643) (3,130)
Distributions to Parent (7,742) (555)
Net cash used in financing activities (58,145) (72,288)
Net increase (decrease) in cash 19,295 (4,419)
Cash at beginning of period 31,374 37,657
Cash at end of period 50,669 33,238
Supplemental information    
Cash paid for interest 19,512 22,784
Cash paid for taxes $ 34,009 $ 32,445