XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 21,988 $ 89,058
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 218,526 223,797
Deferred income taxes (26,133) 23,775
Gain on disposal of property and equipment (8,848) (39,346)
Non-cash equity compensation 7,071 8,671
Insurance and claims accruals, net of current portion (11,508) (6,866)
Loss on investments in equity securities, net 227 36
Loss (earnings) from equity method investment (21) 954
Other (10,509) (4,741)
Changes in certain working capital items:    
Accounts receivable, net 60,921 69,079
Other current assets 18,007 (12,135)
Accounts payable (9,821) 5,844
Other current liabilities (1,200) (2,107)
Net cash provided by operating activities 258,700 356,019
Cash flows from investing activities:    
Additions to property and equipment (332,999) (530,085)
Proceeds from sales of property and equipment 126,894 155,924
Net cash invested in acquisition 0 (188)
Investment in equity securities, net (32) (2,865)
Payment to acquire equity method investment (2,360) (2,645)
Purchase of promissory note 0 (25,000)
Decrease in notes receivable 2,028 2,809
Net cash used in investing activities (206,469) (402,050)
Cash flows from financing activities:    
Repayments of short-term debt (72,500) (33,750)
Proceeds from issuance of short-term debt 70,000 30,000
Repayments of long-term debt (156,250) (50,000)
Proceeds from issuance of long-term debt 200,000 50,000
Change in checks issued in excess of cash balances 0 14,659
Dividends on common stock (26,413) (25,333)
Repurchases of common stock (67,086) 0
Tax withholding related to net share settlements of restricted stock awards (4,172) (5,554)
Net cash used in financing activities (56,421) (19,978)
Effect of exchange rate fluctuations on cash (2,873) 1,523
Net decrease in cash and cash equivalents (7,063) (64,486)
Cash and cash equivalents, beginning of period 61,723 107,240
Cash and cash equivalents, end of period 54,660 42,754
Supplemental disclosures of cash flow information:    
Interest paid 27,403 25,299
Income taxes paid 14,847 17,140
Supplemental schedule of non-cash investing and financing activities:    
Notes receivable issued upon sale of property and equipment 1,795 1,968
Change in fair value of interest rate swaps (5,742) (1,768)
Property and equipment acquired included in accounts payable 52,480 4,701
Dividends accrued but not yet paid at end of period 8,653 8,875
Contingent consideration associated with acquisitions $ 0 $ (800)