XML 15 R7.htm IDEA: XBRL DOCUMENT v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income $ 146,910 $ 115,598 $ 334,348 $ 232,252  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization expense     298,816 290,185  
Impairment of operating right-of-use assets and related property, plant and equipment     12,559 8,613  
Reduction in carrying value of operating right-of-use assets     19,367 23,607  
Loss on equity method investments 0 0 0 383  
Acquisition-related gain     0 (6,160)  
Amortization of financing costs and debt discount     20,604 7,899  
Stock compensation expense     28,145 31,357  
Deferred tax benefit     (61,239) (59,177)  
Unrealized foreign exchange movements     13,761 (3,345)  
Other non-cash items     12,463 18,202  
Changes in operating assets and liabilities:          
Accounts receivable     198,749 (40,675)  
Unbilled revenue     (287,183) (27,210)  
Unearned revenue     (52,081) 65,266  
Other net assets     7,356 (161,816)  
Net cash provided by operating activities     545,665 379,381  
Cash flows from investing activities:          
Purchase of property, plant and equipment     (63,440) (58,880)  
Purchase of subsidiary undertakings (net of cash acquired)     (7,831) (5,100)  
Movement of available for sale investments     1,954 60  
Proceeds from investments in equity - long term     1,373 0  
Purchase of investments in equity - long term     (5,621) (4,733)  
Net cash used in investing activities     (73,565) (68,653)  
Cash flows from financing activities:          
New Notes issue costs     (11,679) 0  
Drawdown of credit lines and loan facilities     2,192,480 230,000  
Repayment of credit lines and loan facilities     (2,537,882) (580,000)  
Proceeds from exercise of equity compensation     21,645 20,177  
Share issue costs     (14) (9)  
Net cash used in financing activities     (335,450) (329,832)  
Effect of exchange rate movements on cash     (8,199) 512  
Net increase / (decrease) in cash and cash equivalents     128,451 (18,592)  
Cash and cash equivalents at beginning of period     378,102 288,768 $ 288,768
Cash and cash equivalents at end of period $ 506,553 $ 270,176 $ 506,553 $ 270,176 $ 378,102