XML 20 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net (loss) income $ (1,091,923) $ 264,484 $ (15,661)
Adjustments to reconcile net (loss) income to net cash provided by continuing operating activities:      
Depreciation and amortization 189,249 149,595 132,349
Amortization of debt issuance costs 4,864 4,088 3,322
Equity-based compensation expense 31,708 37,113 32,289
Deferred income taxes 1,094 67,708 (93,984)
Debt extinguishment costs 1,269    
Non-cash legal settlements expense 3,504   394,181
Loss on impairment 1,007,892 17,276 9,790
Gain on sale of property (8,715)   (9,747)
Other 1,623 (4,686) 3,168
Change in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable, net (75,024) (2,329) (39,012)
Other current assets (47,209) (7,462) 8,880
Other assets (11,291) 521 989
Accounts payable and other accrued liabilities 14,882 (420,893) 17,404
Accrued salaries and benefits 26,678 12,115 16,532
Other liabilities 83,297 12,163 10,815
Government relief funds     (8,975)
Net cash provided by operating activities 131,898 129,693 462,340
Investing activities:      
Cash paid for acquisitions, net of cash acquired (8,165) (53,550) (349)
Cash paid for capital expenditures (571,807) (690,385) (424,133)
Proceeds from sale of property and equipment 23,848 10,435 29,422
Other (90) (2,979) (2,159)
Net cash used in investing activities (556,214) (736,479) (397,219)
Financing activities:      
Borrowings on long-term debt 1,200,000 350,000  
Principal payments on revolving credit facility (1,035,000) (15,000) (35,000)
Principal payments on long-term debt (12,188) (56,331) (21,250)
Repayment of long-term debt (670,856)    
Payment of debt issuance costs (18,615) (1,518)  
Repurchase of shares for payroll tax withholdings, net of proceeds from stock option exercises (4,226) (1,341) (44,335)
Repurchase of common stock (50,034)    
Contributions from noncontrolling partners in joint ventures 8,639 5,180 2,958
Distributions to noncontrolling partners in joint ventures (3,877) (2,972) (5,107)
Cash paid for contingent consideration (1,500)    
Other (90)   37
Net cash provided by (used in) financing activities 481,253 583,018 (62,697)
Net increase (decrease) in cash and cash equivalents 56,937 (23,768) 2,424
Cash and cash equivalents at beginning of the period 76,305 100,073 97,649
Cash and cash equivalents at end of the period 133,242 76,305 100,073
Supplemental Cash Flow Information:      
Cash paid for interest 124,663 113,401 80,745
Cash paid for income taxes 30,094 28,148 66,397
Effect of acquisitions:      
Assets acquired, excluding cash 53,647 59,235 6,766
Liabilities assumed (893) (4,185) (128)
Contingent consideration issued in connection with an acquisition   (1,500)  
Redeemable noncontrolling interest resulting from an acquisition (44,589)   (6,289)
Cash paid for acquisitions, net of cash acquired 8,165 53,550 349
New Credit Facility [Member]      
Financing activities:      
Borrowings on revolving credit facility $ 1,069,000 $ 305,000 $ 40,000