XML 19 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income including noncontrolling interests $ 52,810 $ 92,016
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 106,540 95,442
Amortization of debt issue costs 2,173 760
Amortization of convertible notes discount 0 1,277
Loss (gain) on disposal of property and equipment 357 (22)
Provision for doubtful accounts 8 54
Deferred taxes (4,369) (763)
Foreign currency transaction gains and losses 3,107 431
Equity in earnings of unconsolidated joint ventures (26,528) (26,624)
Return on investments in unconsolidated joint ventures 20,547 31,189
Stock-based compensation 15,544 11,044
Contributions of treasury stock 41,312 42,006
Changes in assets and liabilities, net of acquisitions and newly consolidated joint ventures:    
Accounts receivable 70,355 (106,487)
Contract assets 13,262 (34,931)
Prepaid expenses and other assets (19,596) 7,649
Accounts payable (39,341) (8,074)
Accrued expenses and other current liabilities (86,402) 48,901
Contract liabilities (16,294) (18,094)
Income taxes (498) (6,761)
Other long-term liabilities (17,273) (15,574)
Net cash provided by operating activities 115,714 113,439
Cash flows from investing activities:    
Capital expenditures (12,803) (29,178)
Proceeds from sale of property and equipment 1,049 1,053
Payments for acquisitions, net of cash acquired (197,672) 0
Investments in unconsolidated joint ventures (36,102) (7,969)
Return of investments in unconsolidated joint ventures 729 17
Proceeds from sales of investments in unconsolidated joint ventures 14,335 0
Net cash used in investing activities (230,464) (36,077)
Cash flows from financing activities:    
Proceeds from borrowings under credit agreement 0 212,900
Repayments of borrowings under credit agreement (50,000) (212,900)
Payments for debt costs and credit agreement (1,937) 0
Proceeds from issuance of convertible notes 0 400,000
Payments for purchase of bond hedges 0 (54,968)
Proceeds from issuance of warrants 0 13,808
Transaction costs paid in connection with convertible notes issuance 0 (10,307)
Contributions by noncontrolling interests 1,688 491
Distributions to noncontrolling interests (37,246) (4,469)
Repurchases of common stock (8,701) 0
Taxes paid on vested stock (2,242) (1,149)
Proceeds from issuance of common stock 2,773 1,684
Net cash (used in) provided by financing activities (95,665) 345,090
Effect of exchange rate changes (97) (69)
Net decrease in cash, cash equivalents, and restricted cash (210,512) 422,383
Cash, cash equivalents and restricted cash:    
Beginning of year 487,215 195,374
End of period $ 276,703 $ 617,757