XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 818,057 $ 812,574
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss (gain) from disposal of assets, impairments and other 71,614 934
Depreciation 763,727 712,392
Amortization of intangibles 149,209 129,584
Deferred income taxes, net of acquisitions 93,839 81,270
Current period provision for expected credit losses 9,321 12,681
Amortization of debt issuance costs 6,271 7,974
Share-based compensation 60,432 61,229
Interest accretion 38,411 27,733
Payment of contingent consideration recorded in earnings (400) (35,035)
Adjustments to contingent consideration 30,874 0
Other (7,046) (1,505)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Net change in operating assets and liabilities, net of acquisitions (177,119) (149,833)
Net cash provided by operating activities 1,857,190 1,659,998
Cash Flows from Investing Activities:    
Payments for acquisitions, net of cash acquired (627,310) (2,010,274)
Capital expenditures for property and equipment (794,937) (659,302)
Proceeds from disposal of assets 9,153 5,633
Proceeds from sale of investment in noncontrolling interests 0 37,000
Other (20,819) (18,867)
Net cash used in investing activities (1,433,913) (2,645,810)
Cash Flows from Financing Activities:    
Proceeds from long-term debt 2,222,235 4,092,166
Principal payments on notes payable and long-term debt (1,808,598) (2,759,676)
Payment of contingent consideration recorded at acquisition date (28,324) (26,625)
Change in book overdraft (336) (287)
Payments for repurchase of common shares (442,176) 0
Payments for cash dividends (243,950) (221,253)
Tax withholdings related to net share settlements of equity-based compensation (31,306) (32,203)
Debt issuance costs (4,825) (13,449)
Proceeds from issuance of shares under employee share purchase plan 5,464 4,486
Proceeds from sale of common shares held in trust 324 1,198
Other 0 (4,000)
Net cash provided by (used in) financing activities (331,492) 1,040,357
Effect of exchange rate changes on cash, cash equivalents and restricted cash 627 (75)
Net increase in cash, cash equivalents and restricted cash 92,412 54,470
Cash, cash equivalents and restricted cash at beginning of year 198,173 184,038
Cash, cash equivalents and restricted cash at end of year 290,585 238,508
Non-cash investing and financing activities:    
Liabilities assumed and notes payable issued to sellers of businesses acquired 145,526 222,682
Accrued capital expenditures for property and equipment $ 74,402 $ 87,701