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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 89,058,000 $ 184,569,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 223,797,000 206,097,000
Deferred income taxes 23,775,000 10,262,000
Gain on disposal of property and equipment (39,346,000) (62,659,000)
Non-cash equity compensation 8,671,000 9,120,000
Insurance and claims accruals, net of current portion (6,866,000) 1,469,000
Loss (gain) on investments in equity securities, net 36,000 (14,403,000)
Loss from equity method investment 954,000 0
Other (4,741,000) (5,056,000)
Changes in certain working capital items:    
Accounts receivable, net 69,079,000 (32,258,000)
Other current assets (12,135,000) 3,922,000
Accounts payable 5,844,000 21,061,000
Other current liabilities (2,107,000) 10,592,000
Net cash provided by operating activities 356,019,000 332,716,000
Cash flows from investing activities:    
Additions to property and equipment (530,085,000) (379,902,000)
Proceeds from sales of property and equipment 155,924,000 125,830,000
Net cash invested in acquisition (188,000) 705,000
Investment in equity securities, net (2,865,000) (20,250,000)
Payment to acquire equity method investment (2,645,000) 0
Issuance of notes receivable (25,000,000) 0
Decrease in notes receivable 2,809,000 4,870,000
Net cash used in investing activities (402,050,000) (268,747,000)
Cash flows from financing activities:    
Repayments of short-term debt (33,750,000) (3,750,000)
Proceeds from issuance of short-term debt 30,000,000 0
Repayments of long-term debt (50,000,000) (100,000,000)
Proceeds from issuance of long-term debt 50,000,000 250,000,000
Change in checks issued in excess of cash balances 14,659,000 0
Dividends on common stock (25,333,000) (23,946,000)
Repurchases of common stock 0 (110,400,000)
Tax withholding related to net share settlements of restricted stock awards (5,554,000) (3,704,000)
Other cash flows from financing activities 0 (750,000)
Net cash provided by (used in) financing activities (19,978,000) 7,450,000
Effect of exchange rate fluctuations on cash 1,523,000 68,000
Net increase (decrease) in cash and cash equivalents (64,486,000) 71,487,000
Cash and cash equivalents, beginning of period 107,240,000 54,196,000
Cash and cash equivalents, end of period 42,754,000 125,683,000
Supplemental disclosures of cash flow information:    
Interest paid 25,299,000 5,664,000
Income taxes paid 17,140,000 38,797,000
Supplemental schedule of non-cash investing and financing activities:    
Notes receivable issued upon sale of property and equipment 1,968,000 3,771,000
Change in fair value of interest rate swaps (1,768,000) 6,772,000
Property and equipment acquired included in accounts payable 4,701,000 7,143,000
Property and equipment disposed included in other receivables 0 190,000
Dividends accrued but not yet paid at end of period 8,875,000 8,216,000
Contingent consideration associated with acquisitions $ (800,000) $ 0