XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 140,107 $ 143,842
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 63,581 58,054
Amortization of debt issuance costs 1,651 1,620
Equity-based compensation expense 14,977 14,505
Deferred income taxes 347 7,975
Loss on impairment 8,694  
Other 1,086 396
Change in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable, net (23,397) (19,763)
Other current assets (8,743) (18,106)
Other assets (322) 2,550
Accounts payable and other accrued liabilities 21,518 25,518
Accrued salaries and benefits (13,889) 2,682
Other liabilities 2,568 7,928
Government relief funds   (1,212)
Net cash provided by operating activities 208,178 225,989
Investing activities:    
Cash paid for capital expenditures (157,359) (132,444)
Proceeds from sale of property and equipment 621 1,674
Other (940) (5,016)
Net cash used in investing activities (157,678) (135,786)
Financing activities:    
Borrowings on revolving credit facility 40,000  
Principal payments on revolving credit facility (20,000) (85,000)
Principal payments on long-term debt (10,625) (7,969)
Repurchase of shares for payroll tax withholding, net of proceeds from stock option exercises (45,904) (9,868)
Contributions from noncontrolling partners in joint ventures 2,516 8,008
Distributions to noncontrolling partners in joint ventures (1,983) (847)
Other 20 28
Net cash used in financing activities (35,976) (95,648)
Net increase (decrease) in cash and cash equivalents 14,524 (5,445)
Cash and cash equivalents at beginning of the period 97,649 133,813
Cash and cash equivalents at end of the period $ 112,173 $ 128,368