XML 28 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net income $ 620,023 $ 639,377 $ 463,846
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 256,780 258,179 267,787
Amortization of debt financing costs and discounts on debt 7,761 8,551 11,172
Non-cash operating lease expense 78,811 65,204 45,599
Non-cash expected credit loss (income) on note receivable (34,371) (35,100) 0
Share-based compensation expense 32,379 34,066 37,773
Deferred income taxes (29,842) 51,030 133,860
Non-cash impairment of assets 107,837 40,775 8,200
Gain on sale of assets 0 (13,407) 0
Loss on early extinguishments and modifications of debt 0 19,815 95,155
Other operating activities 1,665 9,517 10,356
Changes in operating assets and liabilities, excluding the impact of acquisitions:      
Accounts receivable, net (28,810) (16,761) (36,027)
Inventories 1,481 (2,083) 2,526
Prepaid expenses and other current assets (10,369) (8,476) (2,088)
Income taxes (receivable) payable, net (950) (2,951) 401
Other assets, net 1,307 (7,857) (5,727)
Accounts payable and accrued liabilities 10,345 (891) (14,819)
Operating lease liabilities (78,811) (65,204) (45,599)
Other liabilities (30) 545 8,358
Net cash provided by operating activities 914,516 976,111 1,010,411
Cash Flows from Investing Activities      
Capital expenditures (373,950) (269,155) (199,452)
Cash paid for acquisitions, net of cash received 0 (167,862) 0
Payments received on note receivable 113,555 0 0
Insurance proceeds received from hurricane losses 0 586 63,200
Proceeds received from disposition of assets 0 21,953 0
Other investing activities (3,935) (7,834) 6,672
Net cash used in investing activities (264,330) (422,312) (129,580)
Cash Flows from Financing Activities      
Borrowings under credit facilities 1,505,800 2,122,100 0
Payments under credit facilities (1,647,300) (1,802,197) (28,288)
Proceeds from issuance of senior notes 0 0 900,000
Retirements of senior notes 0 (300,000) (1,750,000)
Premium fees 0 (12,939) (77,736)
Debt financing costs 0 (16,682) (14,457)
Share-based compensation activities (19,312) (15,082) (5,704)
Shares repurchased and retired (412,655) (541,642) (80,782)
Dividends paid (63,609) (48,162) 0
Other financing activities (172) (1,248) (1,735)
Net cash used in financing activities (637,248) (615,852) (1,058,702)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash (73) (10) 0
Change in cash, cash equivalents and restricted cash 12,865 (62,063) (177,871)
Cash, cash equivalents and restricted cash, beginning of year 295,065 357,128 534,999
Cash, cash equivalents and restricted cash, end of year 307,930 295,065 357,128
Supplemental Disclosure of Cash Flow Information      
Cash paid for interest, net of amounts capitalized 166,682 144,020 205,241
Cash received for interest 11,999 0 0
Cash paid for income taxes 164,482 140,924 5,721
Supplemental Schedule of Non-cash Investing and Financing Activities      
Payables incurred for capital expenditures 23,509 7,348 4,826
Dividends declared not yet paid 15,508 15,476 0
Operating lease right-of-use asset and liability remeasurements 0 (11,224) 3,349
Expected credit loss (income) on note receivable $ (34,371) $ (35,100) $ 0