XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net income $ 263,554,000 $ 181,188,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 158,258,000 144,913,000
Amortization of intangible assets 142,428,000 223,696,000
Equity in earnings of unconsolidated affiliates, net of distributions 22,830,000 (15,783,000)
Unrealized loss from mark-to-market adjustment on investment 0 50,047,000
Gain on sale of property and equipment (11,900,000) (3,456,000)
Non-cash stock-based compensation 62,058,000 51,082,000
Other non-cash adjustments, net 9,334,000 7,797,000
Changes in assets and liabilities, net of non-cash transactions:    
Accounts and notes receivable (363,481,000) (163,942,000)
Contract assets (262,921,000) (208,260,000)
Prepaid expenses and other current assets (135,849,000) (55,869,000)
Accounts payable and accrued expenses and other non-current liabilities 300,652,000 57,901,000
Contract liabilities (13,625,000) (50,404,000)
Other assets and liabilities, net (5,516,000) (15,089,000)
Net cash provided by operating activities 165,822,000 203,821,000
Cash Flows from Investing Activities:    
Capital expenditures (185,597,000) (231,511,000)
Proceeds from sale of and insurance settlements related to property and equipment 34,963,000 25,386,000
Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired (452,252,000) (4,809,000)
Investments in unconsolidated affiliates and other (5,626,000) (16,653,000)
Proceeds from the sale or settlement of certain investments 42,277,000 16,905,000
Other, net (1,132,000) (336,000)
Net cash used in investing activities (567,367,000) (211,018,000)
Cash Flows from Financing Activities:    
Borrowings under credit facility and commercial paper program 9,885,534,000 2,889,372,000
Payments under credit facility and commercial paper program (9,393,812,000) (2,747,249,000)
Payments related to tax withholding for share-based compensation (110,764,000) (76,215,000)
Payments of dividends (24,499,000) (20,930,000)
Repurchase of common stock 0 (94,364,000)
Other, net (20,165,000) (21,530,000)
Net cash provided by (used in) financing activities 336,294,000 (70,916,000)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 349,000 (408,000)
Net decrease in cash, cash equivalents and restricted cash (64,902,000) (78,521,000)
Cash, cash equivalents and restricted cash, beginning of period 433,214,000 231,887,000
Cash, cash equivalents and restricted cash, end of period $ 368,312,000 $ 153,366,000