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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 118,145 $ 137,530
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,762 19,835
Depreciation and amortization – other expenses from franchised and managed properties 13,797 18,581
Franchise agreement acquisition cost amortization 13,993 9,380
Non-cash share-based compensation and other charges 19,253 23,689
Non-cash interest, investments, and affiliate income, net (1,791) (3,098)
Deferred income taxes (2,689) 2,157
Equity in net loss of affiliates, less distributions received 1,160 637
Franchise agreement acquisition costs, net of reimbursements (52,025) (46,150)
Change in working capital and other (18,010) (36,822)
Net cash provided by operating activities 113,595 125,739
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in property and equipment (73,539) (45,684)
Investments in intangible assets (1,702) (1,385)
Contributions to investments in affiliates (19,486) (15,328)
Distributions from sales of affiliates 15,850 868
Purchases of investments for employee benefit plans (2,110) (3,206)
Proceeds from sales of investments for employee benefit plans 2,142 1,099
Proceeds from sales of equity securities 16,815 0
Issuances of notes receivable (1,479) (4,284)
Collections of notes receivable 1,743 9,296
Other items, net (266) (526)
Net cash used in investing activities (62,032) (59,150)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings pursuant to revolving credit facilities 301,500 185,000
Debt issuance costs (2,760) (755)
Purchases of treasury stock (292,711) (234,455)
Dividends paid (28,854) (27,534)
Proceeds from the exercise of stock options 4,261 5,616
Net cash used in financing activities (18,564) (72,128)
Net change in cash and cash equivalents 32,999 (5,539)
Effect of foreign exchange rate changes on cash and cash equivalents 656 140
Cash and cash equivalents, beginning of period 26,754 41,566
Cash and cash equivalents, end of period 60,409 36,167
Cash payments during the period for    
Income taxes, net of refunds 28,961 32,204
Interest, net of capitalized interest 42,863 28,841
Non-cash investing and financing activities    
Dividends declared but not paid 13,613 15,136
Investments in property, equipment, and intangible assets recognized in accounts payable and accrued expense liabilities $ 10,955 $ 8,716