XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 243,875 $ 229,803
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 28,396 28,931
Stock-based compensation 18,366 24,979
Provision for credit losses on accounts and other receivables 30,661 25,342
Amortization of deferred financing costs and discounts 2,274 2,029
Amortization of intangible assets and premium on receivables 63,792 55,829
Loss on extinguishment of debt 1,596 0
Deferred income taxes (7,983) 647
Other non-cash operating expense, net (46) 125
Changes in operating assets and liabilities (net of acquisitions/disposition):    
Accounts and other receivables (565,649) (382,889)
Prepaid expenses and other current assets (27,266) (12,587)
Derivative assets and liabilities, net 10,442 1,452
Other assets 991 (22,021)
Accounts payable, accrued expenses and customer deposits 126,400 398,544
Net cash (used in) provided by operating activities (74,151) 350,184
Investing activities    
Acquisitions, net of cash acquired (153,719) (56,325)
Purchases of property and equipment (44,771) (41,193)
Other 14,572 (4,826)
Net cash used in investing activities (183,918) (102,344)
Financing activities    
Proceeds from issuance of common stock 32,079 90,838
Repurchase of common stock (58,718) (288,833)
Borrowings on securitization facility, net 146,000 114,000
Deferred financing costs (10,827) (3,176)
Proceeds from notes payable 750,000 325,000
Principal payments on notes payable (49,285) (25,531)
Borrowings from revolver 2,454,000 1,570,000
Payments on revolver (3,120,000) (1,866,000)
Payments on swing line of credit, net 0 (75,429)
Other (952) 580
Net cash provided by (used in) financing activities 142,297 (158,551)
Effect of foreign currency exchange rates on cash 42,850 (28,148)
Net (decrease) increase in cash and cash equivalents and restricted cash (72,922) 61,141
Cash and cash equivalents and restricted cash, beginning of year 4,456,345 3,141,535
Cash and cash equivalents and restricted cash, end of year 4,383,423 3,202,676
Supplemental cash flow information    
Cash paid for interest 119,022 115,773
Cash paid for income taxes $ 114,745 $ 38,925