XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 684,031 $ 569,886
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, accretion, and amortization 211,894 204,444
(Gain) loss on remeasurement of U.S. denominated intercompany loans (137,753) 119,526
Non-cash compensation expense 56,552 56,439
Non-cash asset impairment and decommission costs 96,094 73,959
Loss from extinguishment of debt, net   4,428
Deferred and non-cash income tax provision 94,643 17,053
Loss on sale of assets 18,265 803
Other non-cash items reflected in the Statements of Operations 50,586 48,072
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net (37,243) 53,280
Prepaid expenses and other assets (14,533) (16,998)
Operating lease right-of-use assets, net 97,110 101,070
Accounts payable and accrued expenses 8,219 (6,576)
Accrued interest (24,497) (24,838)
Long-term lease liabilities (97,323) (109,074)
Other liabilities (18,742) (66,777)
Net cash provided by operating activities 987,303 1,024,697
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions (664,415) (268,409)
Capital expenditures (162,091) (172,600)
Purchase of investments (658,004) (1,204,628)
Proceeds from sale of investments 909,937 1,179,250
Repayment (funding) of loan to unconsolidated joint venture 115,000 (11,100)
Proceeds from sale of assets 40,564  
Other investing activities (1,999) (2,933)
Net cash used in investing activities (421,008) (480,420)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under Revolving Credit Facility 375,000 370,000
Repayments under Revolving Credit Facility (95,000) (390,000)
Proceeds from issuance of Term Loans, net of fees   2,274,815
Repayment of Term Loans (17,250) (2,279,500)
Repayment of Tower Securities (1,165,000)  
Repurchase and retirement of common stock (281,531) (200,019)
Payment of dividends on common stock (360,780) (318,808)
Proceeds from employee stock purchase/stock option plans 51,491 27,144
Payments related to taxes on stock options and restricted stock units (24,875) (18,187)
Other financing activities (2,270) 707
Net cash used in financing activities (1,520,215) (533,848)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 18,657 (9,883)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (935,263) 546
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:    
Beginning of period 1,400,657 250,946
End of period 465,394 251,492
Cash paid during the period for:    
Interest 370,132 314,700
Income taxes 33,021 25,978
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:    
Right-of-use assets obtained in exchange for new operating lease liabilities 97,843 44,256
Operating lease modifications and reassessments 120,853 214,108
Right-of-use assets obtained in exchange for new finance lease liabilities $ 5,589 $ 154