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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows provided by operating activities:      
Net income $ 791,474 $ 612,335 $ 505,304
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 488,500 585,950 569,513
Impairment of operating right-of-use assets and related property, plant and equipment 15,731 8,686 28,767
Reduction in carrying value of operating right-of-use assets 39,787 41,546 45,215
Loss on equity method investments 0 383 3,136
Acquisition-related gain 0 (6,160) 0
Amortization of financing costs and debt discount 23,533 16,402 17,749
Stock compensation expense 45,870 55,667 70,523
Deferred tax benefit (100,542) (85,403) (124,985)
Unrealized foreign exchange movements 6,911 19,706 (13,009)
Other non-cash items 31,900 24,332 11,324
Changes in operating assets and liabilities:      
Accounts receivable 349,309 (83,296) (420,695)
Unbilled revenue (339,921) 4,716 (332,592)
Unearned revenue (37,743) 134,566 192,944
Other net assets (28,157) (168,403) 10,121
Net cash provided by operating activities 1,286,652 1,161,027 563,315
Cash flows used in investing activities:      
Purchase of property, plant and equipment (168,060) (140,692) (142,160)
Purchase of subsidiary undertakings (net of cash acquired) (84,159) (71,766) 0
Movement of available for sale investments 0 (241) (1)
Proceeds from investments in equity 2,690 0 1,906
Purchase of investments in equity (17,261) (13,954) (5,612)
Net cash used in investing activities (266,790) (226,653) (145,867)
Cash flows used in financing activities:      
New Notes issue costs (12,679) 0 0
Drawdown of credit lines and loan facilities 2,317,480 370,000 75,000
Repayment of credit lines and loan facilities (2,677,763) (1,265,000) (875,000)
Proceeds from exercise of equity compensation 36,187 50,973 35,844
Share issue costs (22) (16) (17)
Repurchase of ordinary shares (499,998) 0 (99,983)
Share repurchase costs (388) 0 (17)
Net cash used in financing activities (837,183) (844,043) (864,173)
Effect of exchange rate movements on cash (21,996) (997) (16,720)
Net increase/(decrease) in cash and cash equivalents 160,683 89,334 (463,445)
Cash and cash equivalents at beginning of year 378,102 288,768 752,213
Cash and cash equivalents at end of year $ 538,785 $ 378,102 $ 288,768