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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net income $ 96,970 $ 85,028
Adjustments to reconcile net income to net cash provided by operating activities—    
Depreciation 78,382 70,954
Amortization of intangible assets 72,403 115,751
Change in fair value of contingent consideration liabilities 0 5,169
Equity in earnings of unconsolidated affiliates, net of distributions 18,452 (20,490)
Amortization of discounts and deferred financing costs 8,122 1,458
Gain on sale of property and equipment (3,511) (2,193)
Gains on sales of investments (2,401) (6,696)
Unrealized loss from mark-to-market adjustment on investment 0 8,393
Increase in provision for credit losses 2,358 133
Deferred income tax benefit (11,997) (8,098)
Non-cash stock-based compensation 27,451 22,992
Foreign currency (gain) loss (245) 1,581
Payments for contingent consideration liabilities recorded in earnings (247) (63)
Changes in assets and liabilities, net of non-cash transactions (247,328) (188,829)
Net cash provided by operating activities 38,409 85,090
Cash Flows from Investing Activities:    
Capital expenditures (80,319) (109,937)
Proceeds from sale of property and equipment 10,356 8,810
Proceeds from insurance settlements related to property and equipment 395 191
Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired (452,252) 0
Investments in unconsolidated affiliates and other (5,492) (8,319)
Proceeds from the sale or settlement of certain investments 39,069 16,460
Cash paid for intangible assets (381) (274)
Net cash used in investing activities (488,624) (93,069)
Cash Flows from Financing Activities:    
Borrowings under credit facility and commercial paper program 4,431,075 1,369,151
Payments under credit facility and commercial paper program (4,050,437) (1,301,146)
Payments on other long-term debt (3,126) (2,079)
Net borrowings (repayments) of short-term debt 175 (15,703)
Payments of financing costs 0 (48)
Payments for contingent consideration liabilities recorded at acquisition date (4,753) (1,514)
Distributions to non-controlling interests, net of contributions received (8,741) (538)
Payments related to tax withholding for share-based compensation (108,689) (11,252)
Payments of dividends (12,817) (10,842)
Repurchase of common stock 0 (9,479)
Net cash provided by financing activities 242,687 16,550
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (1,562) 378
Net (decrease) increase in cash, cash equivalents and restricted cash (209,090) 8,949
Cash, cash equivalents and restricted cash, beginning of period 433,214 231,887
Cash, cash equivalents and restricted cash, end of period $ 224,124 $ 240,836