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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income including noncontrolling interests $ 126,565 $ 88,952 $ 118,921
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 120,501 144,209 127,980
Amortization of debt issue costs 3,029 2,817 1,356
Amortization of convertible notes discount 0 0 3,831
(Gain) loss on disposal of property and equipment (164) 338 116
Provision for doubtful accounts 57 8 (1,503)
Deferred taxes (844) (3,468) 1,271
Foreign currency transaction gains and losses 1,973 4,916 (493)
Equity in earnings of unconsolidated joint ventures (16,347) (36,862) (30,059)
Return on investments in unconsolidated joint ventures 28,417 24,494 41,457
Stock-based compensation 23,008 20,187 15,234
Contributions of treasury stock 54,659 54,905 55,327
Changes in assets and liabilities, net of acquisitions and newly consolidated joint ventures      
Accounts receivable (117,318) 99,894 (8,623)
Contract assets (32,032) 1,494 9,243
Prepaid expenses and other assets (1,405) (18,798) 11,494
Accounts payable (717) (31,766) 1,494
Accrued expenses and other current liabilities 3,879 (74,683) 3,405
Contract liabilities 41,306 (30,407) (29,674)
Income taxes (3,649) 2,878 (3,080)
Other long-term liabilities 6,608 (43,534) (28,536)
Net cash provided by operating activities 237,526 205,574 289,161
Cash flows from investing activities      
Capital expenditures (30,593) (21,105) (34,036)
Proceeds from sale of property and equipment 771 1,329 1,546
Payments for acquisitions, net of cash acquired (379,467) (198,256) (302,894)
Investments in unconsolidated joint ventures (17,622) (38,459) (11,038)
Return of investments in unconsolidated joint ventures 9,443 772 53
Proceeds from sales of investments in unconsolidated joint ventures 0 14,812 0
Net cash used in investing activities (417,468) (240,907) (346,369)
Cash flows from financing activities      
Proceeds from borrowings 916,000 0 212,900
Proceeds from delayed draw term loan 350,000 0 0
Repayments of borrowings (916,000) (50,000) (212,900)
Repayment of private placement debt (200,000) 0 0
Payments for debt costs and credit agreement (862) (1,937) 0
Proceeds from issuance of convertible notes 0 0 400,000
Payments for acquired warrants (11,243) 0 0
Payments for purchase of bond hedges 0 0 (54,968)
Proceeds from issuance of warrants 0 0 13,808
Transaction costs paid in connection with convertible notes issuance 0 0 (10,250)
Contributions by noncontrolling interests 10,266 1,754 2,215
Distributions to noncontrolling interests (24,128) (37,932) (5,816)
Repurchases of common stock (22,000) (21,701) 0
Taxes paid on vested stock (7,042) (2,242) (1,149)
Proceeds from issuance of common stock 5,377 5,555 4,386
Net cash provided by (used in) financing activities 100,368 (106,503) 348,226
Effect of exchange rate changes (1,770) (1,496) 823
Net increase (decrease) in cash, cash equivalents and restricted cash (81,344) (143,332) 291,841
Cash, cash equivalents and restricted cash      
Beginning of year 343,883 487,215 195,374
End of year 262,539 343,883 487,215
Cash paid during the year for      
Interest 20,819 14,993 14,207
Income taxes (net of refunds) $ 32,175 $ 22,461 $ 55,354