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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities:    
Net income $ 148,969 $ 126,091
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 98,114 88,895
Amortization of intangible assets 109,562 77,511
Equity in earnings of unconsolidated affiliates, net of distributions (1,495) 4,264
Deferred income tax expense (benefit) 6,887 (4,765)
Non-cash stock-based compensation 38,151 35,331
Other non-cash adjustments, net 5,893 (7,970)
Changes in assets and liabilities, net of non-cash transactions:    
Accounts, notes and retainage receivable (36,265) 321,914
Contract assets (48,383) 119,324
Inventories (2,768) (34,989)
Prepaid expenses and other current assets (13,774) (46,977)
Accounts payable and accrued expenses, insurance and other non-current liabilities (54,486) (349,872)
Contract liabilities 6,068 (89,702)
Other assets and liabilities, net (13,275) (1,100)
Net cash provided by operating activities 243,198 237,955
Cash Flows from Investing Activities:    
Capital expenditures (132,762) (83,139)
Proceeds from sale of and insurance settlements related to property and equipment 7,316 26,418
Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired (394,263) (384,071)
Proceeds from the sale or settlement of certain investments 0 26,571
Other, net (912) 27,613
Net cash used in investing activities (520,621) (386,608)
Cash Flows from Financing Activities:    
Borrowings under credit facility and commercial paper program 5,488,217 2,763,700
Payments under credit facility and commercial paper program (5,216,815) (3,268,156)
Payments related to tax withholding for stock-based compensation (71,584) (75,710)
Payments of dividends (15,464) (13,745)
Repurchase of common stock (118,568) 0
Other, net (13,432) (9,133)
Net cash provided by (used in) financing activities 52,354 (603,044)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 2,291 (9,963)
Net decrease in cash, cash equivalents and restricted cash (222,778) (761,660)
Cash, cash equivalents and restricted cash, beginning of period 746,010 1,295,041
Cash, cash equivalents and restricted cash, end of period $ 523,232 $ 533,381