XML 29 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 298,458 $ 209,850 $ 224,652
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 84,138 72,387 62,355
Amortization of deferred financing fees 1,061 1,067 1,036
Non-cash leasing arrangement 808 870 493
Impairment of long-lived assets 1,849 0 0
Write-off of deferred financing fees 200 0 566
Deferred income taxes 635 (27,481) (6,496)
Provision for doubtful accounts 1,739 3,408 2,390
Stock-based compensation 36,226 30,767 22,720
Cash received from insurance proceeds 199 1,396 1,282
Loss (gain) on sale of assets 486 (123) (3,467)
Loss (gain) on insurance claims and asset disposals 833 (550) (627)
Litigation (4,289) 47,182 4,553
Change in operating assets and liabilities      
Accounts receivable (84,397) (79,818) (82,426)
Prepaid income taxes (9,227) 814 809
Prepaid expenses and other assets (19,055) 6,993 (9,141)
Deferred employer portion of social security taxes 0 0 (24,155)
Cash surrender value of life insurance policy premiums (14,833) (16,072) (7,614)
Deferred compensation liability 14,986 16,044 7,637
Operating lease obligations 287 (6,564) 345
Accounts payable 2,835 15,924 17,870
Accrued wages and related liabilities 19,992 47,967 38,982
Other accrued liabilities (30,670) 23,828 3,010
Accrued self-insurance liabilities 44,014 28,827 17,785
Other long-term liabilities 911 (50) (46)
NET CASH PROVIDED BY OPERATING ACTIVITIES 347,186 376,666 272,513
Cash flows from investing activities:      
Purchase of property and equipment (158,240) (106,180) (87,545)
Cash payments for acquisitions (156,547) (69,014) (101,136)
Cash from insurance proceeds 3,334 2,029 1,339
Cash proceeds from the sale of assets 2,818 248 8,630
Purchases of investments (105,149) (29,603) (21,975)
Maturities of investments 26,397 18,852 14,356
Other restricted assets (2,665) 970 149
NET CASH USED IN INVESTING ACTIVITIES (390,052) (182,698) (186,182)
Cash flows from financing activities:      
Proceeds from debt 400 150 411
Payments on debt (4,350) (4,033) (4,106)
Issuance of common stock upon exercise of options 22,286 18,369 12,677
Repurchase of shares of common stock to satisfy tax withholding obligations (1,209) (1,929) (1,702)
Repurchase of shares of common stock 0 0 (29,882)
Dividends paid (13,671) (12,890) (12,168)
Proceeds from sale of subsidiary shares 0 0 6,693
Non-controlling interest distribution (543) (4) (284)
Purchase of non-controlling interest (4,450) (256) (704)
Payment of contingent consideration (625) 0 0
Payments of deferred financing costs 0 (19) (3,197)
NET CASH USED IN FINANCING ACTIVITIES (2,162) (612) (32,262)
Net (decrease) increase in cash and cash equivalents (45,028) 193,356 54,069
Cash and cash equivalents beginning of period 509,626 316,270 262,201
Cash and cash equivalents end of period 464,598 509,626 316,270
Cash paid during the period for:      
Interest 7,063 7,025 7,604
Income taxes 96,337 89,730 70,055
Lease liabilities 215,677 196,942 151,870
Non-cash financing and investing activity      
Accrued capital expenditures 7,900 4,600 4,800
Accrued dividends declared 3,589 3,396 3,201
Right-of-use assets obtained in exchange for new and modified operating lease obligations $ 232,918 $ 376,550 $ 370,753