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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 612,335 $ 505,304 $ 153,185
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 585,950 569,513 314,987
Impairment of long lived assets 8,686 28,767 20,037
Reduction in carrying value of operating right-of-use assets 41,546 45,215 45,339
Loss on equity method investments 383 3,136 2,161
Acquisition-related gain (6,160) 0 0
Charge on cash flow hedge 2,407 0 0
Amortization of financing costs and debt discount 16,402 17,749 12,890
Stock compensation expense 55,667 70,523 133,844
Loss on extinguishment of debt 0 0 14,434
Loss on issuance of debt 0 0 59,460
Deferred tax benefit (85,403) (124,985) (60,616)
Unrealized foreign exchange movements 19,706 (13,009) (6,054)
Other non-cash items 24,332 11,324 4,480
Changes in operating assets and liabilities:      
Accounts receivable (83,296) (420,695) 113,513
Unbilled revenue 4,716 (332,592) (17,656)
Unearned revenue 134,566 192,944 (69,121)
Other net assets (170,810) 10,121 108,259
Net cash provided by operating activities 1,161,027 563,315 829,142
Cash flows from investing activities:      
Purchase of property, plant and equipment (140,692) (142,160) (93,750)
Purchase of subsidiary undertakings (net of cash acquired) (71,766) 0 (5,914,475)
Investment in equity method investments 0 0 (2,450)
Loan to equity method investment 0 0 (10,000)
Sale of available for sale investments 2,616 481 497
Purchase of available for sale investments (2,857) (482) (480)
Proceeds from investments in equity - long term 0 1,906 500
Purchase of investments in equity - long term (13,954) (5,612) (4,077)
Net cash used in investing activities (226,653) (145,867) (6,024,235)
Cash flows from financing activities:      
Financing costs 0 0 (30,328)
Drawdown of credit lines and facilities 370,000 75,000 5,905,100
Repayment of credit lines and facilities (1,265,000) (875,000) (877,780)
Proceeds from the exercise of equity compensation 50,973 35,844 118,589
Share issue costs (16) (17) (853)
Repurchase of ordinary shares 0 (99,983) 0
Share repurchase costs 0 (17) 0
Net cash (used in)/provided by financing activities (844,043) (864,173) 5,114,728
Effect of exchange rate movements on cash (997) (16,720) (7,727)
Net increase/(decrease) in cash and cash equivalents 89,334 (463,445) (88,092)
Cash and cash equivalents at beginning of year 288,768 752,213 840,305
Cash and cash equivalents at end of year $ 378,102 $ 288,768 $ 752,213