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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 347,511 $ 372,544
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 222,919 202,210
Stock-based compensation 16,362 14,331
Amortization included in interest expense 4,920 4,527
Gain on disposition of assets (5,243) (1,990)
Loss on extinguishment of debt 115 0
Equity in earnings of investee (1,326) (2,655)
Deferred tax expense 910 1,851
Provision for doubtful accounts 8,609 5,868
(Increase) decrease in:    
Receivables (33,755) (29,510)
Prepaid expenses (1,097) (2,681)
Other assets (2,237) 3,510
(Decrease) increase in:    
Trade accounts payable (1,430) (895)
Accrued expenses (8,049) (12,773)
Operating lease liabilities (25,838) (18,881)
Other liabilities 7,049 1,649
Net cash provided by (used in) operating activities 529,420 537,105
Cash flows from investing activities:    
Acquisitions (120,324) (287,860)
Capital expenditures (132,152) (116,808)
Proceeds from disposition of assets and investments 6,489 2,146
Decrease in notes receivable 62 58
Net cash (used in) provided by investing activities (245,925) (402,464)
Cash flows from financing activities:    
Cash used for purchase of treasury stock (5,989) (10,506)
Net proceeds from issuance of common stock 10,401 15,301
Principal payments on long-term debt (284) (273)
Principal payments on financing leases (998) (998)
Payments on revolving credit facility (243,000) (575,000)
Proceeds received from revolving credit facility 333,000 400,000
Proceeds received from accounts receivable securitization program 72,000 140,000
Payments on accounts receivable securitization program (74,900) (115,000)
Proceeds received from senior credit facility term loans 0 350,000
Debt issuance costs (2,951) (1,564)
Distributions to non-controlling interest (1,162) (1,019)
Dividends/distributions (382,853) (355,783)
Net cash used in financing activities (296,736) (154,842)
Effect of exchange rate changes in cash and cash equivalents 17 (232)
Net decrease in cash and cash equivalents (13,224) (20,433)
Cash and cash equivalents at beginning of period 52,619 99,788
Cash and cash equivalents at end of period 39,395 79,355
Supplemental disclosures of cash flow information:    
Cash paid for interest 125,117 84,611
Cash paid for foreign, state and federal income taxes $ 9,093 $ 8,254