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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income including noncontrolling interests $ 207,915 $ 126,565 $ 88,952
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 119,973 120,501 144,209
Amortization of debt issue costs 2,842 3,029 2,817
Loss (gain) on disposal of property and equipment 206 (164) 338
Provision for doubtful accounts 32 57 8
Deferred taxes (8,914) (844) (3,468)
Foreign currency transaction gains and losses (330) 1,973 4,916
Equity in losses (earnings) of unconsolidated joint ventures 47,751 (16,347) (36,862)
Return on investments in unconsolidated joint ventures 48,970 28,417 24,494
Stock-based compensation 34,365 23,008 20,187
Contributions of treasury stock 58,172 54,659 54,905
Changes in assets and liabilities, net of acquisitions and newly consolidated joint ventures      
Accounts receivable (176,181) (117,318) 99,894
Contract assets (119,898) (32,032) 1,494
Prepaid expenses and other assets (95,415) (1,405) (18,798)
Accounts payable 24,497 (717) (31,766)
Accrued expenses and other current liabilities 163,440 3,879 (74,683)
Contract liabilities 84,439 41,306 (30,407)
Income taxes 2,886 (3,649) 2,878
Other long-term liabilities 12,949 6,608 (43,534)
Net cash provided by operating activities 407,699 237,526 205,574
Cash flows from investing activities      
Capital expenditures (40,396) (30,593) (21,105)
Proceeds from sale of property and equipment 546 771 1,329
Payments for acquisitions, net of cash acquired (221,937) (379,467) (198,256)
Investments in unconsolidated joint ventures (119,582) (17,622) (38,459)
Return of investments in unconsolidated joint ventures 5,018 9,443 772
Proceeds from sales of investments in unconsolidated joint ventures 381 0 0
Net cash used in investing activities (375,970) (417,468) (240,907)
Cash flows from financing activities      
Proceeds from borrowings 620,900 969,700 0
Proceeds from delayed draw term loan 0 350,000 0
Repayments of borrowings (620,900) (969,700) (50,000)
Repayment of private placement debt 0 (200,000) 0
Payments for debt costs and credit agreement 0 (862) 0
Payments for acquired warrants 0 (11,243) 0
Contributions by noncontrolling interests 2,867 10,266 1,754
Distributions to noncontrolling interests (12,496) (24,128) (37,932)
Repurchases of common stock (11,000) (22,000) (21,701)
Taxes paid on vested stock (7,301) (7,042) (2,242)
Proceeds from issuance of common stock 6,059 5,377 5,555
Net cash (used in) provided by financing activities (21,871) 100,368 (106,503)
Effect of exchange rate changes 546 (1,770) (1,496)
Net increase (decrease) in cash, cash equivalents and restricted cash 10,404 (81,344) (143,332)
Cash, cash equivalents and restricted cash      
Beginning of year 262,539 343,883 487,215
End of year 272,943 262,539 343,883
Cash paid during the year for      
Interest 30,273 20,819 14,993
Income taxes (net of refunds) $ 74,133 $ 32,175 $ 22,461