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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income $ 260,872 $ 148,033
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 95,169 88,113
Amortization of intangibles 9,691 2,882
Share-based compensation expense 9,816 8,567
Provision for losses on accounts receivable 5,065 (57)
Change in deferred income taxes 3,745 (8,593)
Gain on sale of property and equipment (9,759) (8,389)
Gain on sale of subsidiary (402) (6,923)
Changes in operating assets and liabilities:    
Receivables (54,889) (103,886)
Prepaid expenses 7,550 7,655
Other assets 287 539
Income taxes (11,068) 8,174
Operating right-of-use assets and lease liabilities, net 1,579 650
Accounts payable, accrued expenses, and other liabilities 32,793 101,577
NET CASH PROVIDED BY OPERATING ACTIVITIES 350,449 238,342
INVESTING ACTIVITIES    
Purchases of property, plant and equipment, net of financings (76,068) (43,506)
Proceeds from sale of property and equipment 13,938 11,509
Proceeds from sale of subsidiary 475 9,013
Purchases of short-term investments (145,254) (56,011)
Proceeds from sale of short-term investments 48,161 61,174
Capitalization of internally developed software (13,922) (14,308)
Business acquisition, net of cash acquired 2,279  
NET CASH USED IN INVESTING ACTIVITIES (170,391) (32,129)
FINANCING ACTIVITIES    
Borrowings under credit facilities 58,000  
Proceeds from notes payable 12,113  
Payments on long-term debt (99,567) (76,513)
Net change in book overdrafts 2,102 (305)
Deferred financing costs (53) (295)
Payment of common stock dividends (7,892) (6,145)
Purchases of treasury stock (50,117) (8,100)
Payments for tax withheld on share-based compensation (15,733) (10,602)
NET CASH USED IN FINANCING ACTIVITIES (101,147) (101,960)
NET INCREASE IN CASH AND CASH EQUIVALENTS 78,911 104,253
Cash and cash equivalents at beginning of period 76,620 303,954
CASH AND CASH EQUIVALENTS AT END OF PERIOD 155,531 408,207
NONCASH INVESTING ACTIVITIES    
Equipment financed 57,241 36,731
Accruals for equipment received 5,587 3,158
Lease liabilities arising from obtaining right-of-use assets $ 78,324 $ 7,280