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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income including noncontrolling interests $ 149,858 $ 90,218
Adjustments to reconcile net income to net cash used in operating activities    
Depreciation and amortization 87,202 90,668
Amortization of debt issue costs 2,124 1,959
Loss (gain) on disposal of property and equipment (27) (261)
Provision for doubtful accounts 91 (3)
Deferred taxes (8,205) (6,334)
Foreign currency transaction gains and losses 1,479 3,502
Equity in losses (earnings) of unconsolidated joint ventures (4,497) (10,237)
Return on investments in unconsolidated joint ventures 30,328 25,626
Stock-based compensation 23,872 14,991
Contributions of treasury stock 44,072 41,980
Changes in assets and liabilities, net of acquisitions and newly consolidated joint ventures:    
Accounts receivable (168,964) (90,913)
Contract assets (120,414) (62,861)
Prepaid expenses and other assets (40,470) 8,772
Accounts payable 48,294 (918)
Accrued expenses and other current liabilities 93,263 20,220
Contract liabilities 61,503 26,665
Income taxes 17,395 1,160
Other long-term liabilities 662 (5,866)
Net cash provided by operating activities 217,566 148,368
Cash flows from investing activities:    
Capital expenditures (30,877) (19,784)
Proceeds from sale of property and equipment 274 573
Payments for acquisitions, net of cash acquired (215,497) (379,272)
Investments in unconsolidated joint ventures (81,598) (13,637)
Return of investments in unconsolidated joint ventures 72 9,443
Proceeds from sales of investments in unconsolidated joint ventures 381 0
Net cash used in investing activities (327,245) (402,677)
Cash flows from financing activities:    
Proceeds from borrowings 511,500 680,900
Repayments of borrowings (436,500) (579,700)
Payments for debt costs and credit agreement 0 (870)
Payments for acquired warrants 0 (11,243)
Contributions by noncontrolling interests 1,537 8,299
Distributions to noncontrolling interests (12,156) (14,290)
Repurchases of common stock (8,000) (19,500)
Taxes paid on vested stock (6,941) (6,135)
Proceeds from issuance of common stock 2,940 2,724
Net cash provided by financing activities 52,380 60,185
Effect of exchange rate changes 166 (2,220)
Net decrease in cash, cash equivalents, and restricted cash (57,133) (196,344)
Cash, cash equivalents and restricted cash:    
Beginning of year 262,539 343,883
End of period $ 205,406 $ 147,539