XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 61,780 $ 87,503
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,810 35,193
Deferred taxes 4,901 5,286
Compensation expense related to share-based compensation plans 5,238 4,719
Gain on sale of assets, net (3,975) (4,745)
Changes in operating assets and liabilities, net of acquisitions:    
Restricted investments (1,122) 2,759
Accounts receivable, net 18,951 (65,288)
Prepaid taxes 7,605 535
Prepaid expenses and other current assets 13,617 3,403
Other assets (653) (1,516)
Accounts payable (17,705) 7,771
Accrued expenses (40,065) 7,130
Non-current liabilities (5,007) (2,540)
Net cash provided by operating activities 89,375 80,210
Cash flows from investing activities:    
Proceeds from sale of equipment 10,172 6,444
Purchases of property and equipment (26,845) (30,927)
Acquisitions 108 0
Net cash used in investing activities (16,565) (24,483)
Cash flows from financing activities:    
Repayments of long-term debt (29,237) (26,024)
Stock withheld for payments of withholding taxes (7,606) (5,585)
Finance lease payments (888) (526)
Proceeds from issuance of debt 20,831 23,512
Net cash used in financing activities (16,900) (8,623)
Effect of exchange rate changes on cash and cash equivalents 18 8
Net increase in cash and cash equivalents 55,928 47,112
Cash and cash equivalents beginning of the period 286,642 159,784
Cash and cash equivalents end of the period 342,570 206,896
Supplemental disclosures of cash paid for:    
Interest 3,320 1,870
Income taxes $ 1,290 $ 620