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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net income $ 616,996 $ 537,079
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 262,525 239,746
Amortization of intangible assets 267,147 213,789
Distributions, net of equity in earnings of unconsolidated affiliates 6,002 24,579
Deferred income tax (benefit) expense (1,847) 14,302
Non-cash stock-based compensation 110,815 94,658
Other non-cash adjustments, net (2,430) (10,620)
Changes in assets and liabilities, net of non-cash transactions:    
Accounts and notes receivable (399,501) (666,786)
Contract assets 154,425 (508,457)
Inventories (50,732) (3,759)
Prepaid expenses and other current assets 3,091 (104,956)
Accounts payable and accrued expenses and other non-current liabilities 331,260 776,496
Contract liabilities 77,205 (38,764)
Other assets and liabilities, net (5,775) 5,107
Net cash provided by operating activities 1,369,181 572,414
Cash Flows from Investing Activities:    
Capital expenditures (457,093) (325,397)
Proceeds from sale of and insurance settlements related to property and equipment 67,230 47,983
Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired (1,724,440) (472,643)
Investments in unconsolidated affiliates and other (72,609) (6,505)
Proceeds from the sale or settlement of certain investments 29,239 42,277
Other, net 30,525 (8,039)
Net cash used in investing activities (2,127,148) (722,324)
Cash Flows from Financing Activities:    
Borrowings under credit facility and commercial paper program 11,905,853 14,339,958
Payments under credit facility and commercial paper program (12,696,895) (14,136,313)
Net proceeds from notes offering 1,238,741 0
Payments related to tax withholding for share-based compensation (140,625) (113,409)
Payments of dividends (40,769) (36,059)
Other, net (38,878) (23,126)
Net cash provided by financing activities 227,427 31,051
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 4,267 (4,466)
Net decrease in cash, cash equivalents and restricted cash (526,273) (123,325)
Cash, cash equivalents and restricted cash, beginning of period 1,295,041 433,214
Cash, cash equivalents and restricted cash, end of period $ 768,768 $ 309,889