XML 26 R9.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
Operating activities      
Net income $ 171,897 $ 184,743 $ 172,243
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 67,178 73,051 73,667
Equity in losses of unconsolidated subsidiaries 3,676 526 1,577
Loss (gain) on sale of assets, businesses, and resolution of contingencies 40 4 (1,158)
Stock compensation expense 2,327 651 2,141
Amortization of debt discount and issuance costs 1,708 0 0
Deferred income taxes (2,396) (6,286) (8,639)
Other 72 327 589
Changes in operating assets and liabilities, net of effects of business combinations:      
Accounts receivable (1,598) (10,262) (5,931)
Other current assets 4,206 (20,743) (2,875)
Other assets 2,973 2,738 8,921
Accounts payable and accrued liabilities 24,594 9,567 33,802
Net cash provided by operating activities 274,677 234,316 274,337
Investing activities      
Business combinations, net of cash acquired (6,965) (6,004) (9,702)
Acquired customer relationships 0 (4,382) 0
Purchases of property and equipment (64,327) (64,958) (45,983)
Investment in businesses 0 0 (2,103)
Proceeds from sale of assets 27 36 38
Net cash used in investing activities (71,265) (75,308) (57,750)
Financing activities      
Proceeds from term loans, net of issuance costs 836,697 0 0
Proceeds from 6.875% senior notes, net of issuance costs 637,337 0 0
Borrowings of other debt 8,222 5,471 4,265
Principal payments on other debt (10,181) (7,165) (7,395)
Exercise of stock options 0 3,340 3,340
Repurchases of common shares 0 (5,322) (5,146)
Repurchase of Class A additional capital 0 0 (23,904)
Dividends paid to common stockholders (7,959) 0 0
Repurchase of common stock (15,403) 0 0
Distributions to and purchases of non-controlling interests (5,913) (6,130) (6,289)
Proceeds from Initial Public Offering 511,198 0 0
Dividend to Select (1,535,683) 0 0
Contributions from (distributions to) Select 2,279 4,515 6,823
Net cash used in financing activities (51,531) (165,291) (209,858)
Net increase (decrease) in cash 151,881 (6,283) 6,729
Cash at beginning of period 31,374 37,657 30,928
Cash at end of period 183,255 31,374 37,657
Supplemental information      
Cash paid for interest 49,650 44,348 31,116
Cash paid for taxes 55,763 60,607 42,169
Non-cash investing and financing activities:      
Liabilities for purchases of property and equipment 5,241 5,136 7,739
Related Party      
Financing activities      
Payments on term loans 0 0 (31,552)
Borrowings from related party revolving promissory note 10,000 0 0
Payments on revolving facilities (480,000) (160,000) (150,000)
Nonrelated Party      
Financing activities      
Payments on term loans $ (2,125) $ 0 $ 0