XML 11 R5.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 (Loss) $ 403,719 $ 887,654
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 440,090 425,441
Deferred income taxes 23,876 (46,000)
Stock-based compensation expense 46,800 50,885
Other non-cash adjustments (5,625) 17,136
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Receivables 10,160 105,140
Inventories, net 103,616 47,316
Contract assets 2,615 (18,220)
Other current assets (3,731) 4,741
Other assets and liabilities (21,772) (41,009)
Accounts payable 77,263 123,658
Accrued liabilities (65,368) (81,237)
Contract liabilities 9,449 23,724
Net cash provided by operating activities 1,021,092 1,499,229
Cash flows from investing activities:    
Cash used for acquisitions (904,515) (256,856)
Purchases of property, plant and equipment (274,531) (280,897)
Proceeds from sale of property, plant and equipment 18,408 10,555
Cash used for equity investments (1,330) (7,686)
Net cash used in investing activities (1,161,968) (534,884)
Cash flows from financing activities:    
Borrowings under revolving credit facility 4,058,000 954,000
Repayments under revolving credit facility (4,058,000) (1,418,000)
Proceeds from long-term debt and other loans 750,000 1,000,000
Repayments of long-term debt and other loans (2,151) (2,613)
Payments of loan costs (19,861) (12,829)
Payment of acquisition-related deferred and contingent consideration (3,425) (14,364)
Tax withholdings on and exercises of equity awards (27,191) (55,267)
Repurchase of common stock (413,958) (1,153,325)
Net cash provided by (used in) financing activities 283,414 (702,398)
Net change in cash and cash equivalents 142,538 261,947
Cash and cash equivalents at beginning of period 153,624 66,156
Cash and cash equivalents at end of period 296,162 328,103
Supplemental disclosures of cash flow information:    
Cash paid for interest 205,872 160,383
Cash paid for income taxes 72,760 312,307
Supplemental disclosures of non-cash activities:    
Accrued consideration for acquisitions 6,277 8,570
Accrued purchases of property, plant and equipment 8,164 19,680
Right-of-use assets obtained in exchange for operating lease obligations 79,099 159,221
Amounts accrued related to repurchases of common stock $ 3,538 $ 15,624