XML 13 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 78,770 $ 66,558
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 36,347 31,569
Amortization of debt issuance costs 1,016 824
Equity-based compensation expense 8,678 7,629
Deferred income taxes 17,476 212
Other (4,094) 1,089
Change in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable, net (22,930) (23,968)
Other current assets (15,629) (23,430)
Other assets 696 (1,436)
Accounts payable and other accrued liabilities (403,340) 13,633
Accrued salaries and benefits (25,024) (30,386)
Other liabilities 6,749 2,114
Net cash (used in) provided by operating activities (321,285) 44,408
Investing activities:    
Cash paid for acquisitions, net of cash acquired (50,353)  
Cash paid for capital expenditures (142,410) (66,525)
Proceeds from sale of property and equipment 9,056 409
Other (907) (794)
Net cash used in investing activities (184,614) (66,910)
Financing activities:    
Borrowings on long-term debt 350,000  
Principal payments on revolving credit facility (15,000)  
Principal payments on long-term debt (10,242) (5,313)
Payment of debt issuance costs (1,518)  
Repurchase of shares for payroll tax withholding, net of proceeds from stock option exercises (1,013) (47,671)
Contributions from noncontrolling partners in joint ventures 2,280 1,655
Distributions to noncontrolling partners in joint ventures (1,020)  
Other (358) 11
Net cash provided by (used in) financing activities 483,129 (11,318)
Net decrease in cash and cash equivalents (22,770) (33,820)
Cash and cash equivalents at beginning of the period 100,073 97,649
Cash and cash equivalents at end of the period 77,303 63,829
Effect of acquisitions:    
Assets acquired, excluding cash 55,309  
Liabilities assumed (3,456)  
Contingent consideration issued in connection with an acquisition (1,500)  
Cash paid for acquisitions, net of cash acquired 50,353  
New Credit Facility [Member]    
Financing activities:    
Borrowings on revolving credit facility $ 160,000 $ 40,000