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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net income $ 172,849 $ 171,897 $ 184,743
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 75,817 67,178 73,051
Equity in losses of unconsolidated subsidiaries 0 3,676 526
Loss on early retirement of debt 51 0 0
(Gain) loss on sale of assets (773) 40 4
Stock compensation expense 10,490 2,327 651
Amortization of debt discount and issuance costs 3,959 1,708 0
Deferred income taxes 7,890 (2,396) (6,286)
Other 1,155 72 327
Changes in operating assets and liabilities, net of effects of business combinations:      
Accounts receivable (11,136) (1,598) (10,262)
Other current assets (6,441) 4,206 (20,743)
Other assets 7,570 2,973 2,738
Accounts payable and accrued liabilities 17,966 24,594 9,567
Net cash provided by operating activities 279,397 274,677 234,316
Investing activities      
Business combinations, net of cash acquired (333,300) (6,965) (6,004)
Acquired customer relationships 0 0 (4,382)
Purchases of property and equipment (82,335) (64,327) (64,958)
Proceeds from sale of assets 778 27 36
Net cash used in investing activities (414,857) (71,265) (75,308)
Financing activities      
Proceeds from term loans, net of issuance costs 948,848 836,697 0
Payments on term loans (855,000) (2,125) 0
Proceeds from 6.875% senior notes, net of issuance costs 0 637,337 0
Borrowings of other debt 6,575 8,222 5,471
Principal payments on other debt (10,037) (10,181) (7,165)
Exercise of stock options 0 0 3,340
Repurchases of common shares 0 0 (5,322)
Dividends paid to common stockholders (32,077) (7,959) 0
Repurchase of common stock (22,423) (15,403) 0
Proceeds from issuance of non-controlling interests 2,866 0 0
Distributions to non-controlling interests (6,648) (5,913) (6,130)
Proceeds from Initial Public Offering 0 511,198 0
Dividend to Select 0 (1,535,683) 0
Contributions from Select 0 2,279 4,515
Net cash provided by (used in) financing activities 32,104 (51,531) (165,291)
Net (decrease) increase in cash (103,356) 151,881 (6,283)
Cash at beginning of period 183,255 31,374 37,657
Cash at end of period 79,899 183,255 31,374
Supplemental information      
Cash paid for interest 108,969 49,650 44,348
Cash paid for taxes 45,910 55,763 60,607
Non-cash investing and financing activities:      
Liabilities for purchases of property and equipment 2,463 5,241 5,136
Nonrelated Party      
Financing activities      
Borrowings on revolving facilities 85,000 0 0
Payments on revolving facilities (85,000) 0 0
Related Party      
Financing activities      
Borrowings on revolving facilities 0 10,000 0
Payments on revolving facilities $ 0 $ (480,000) $ (160,000)