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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
OPERATING ACTIVITIES    
Net income $ 146,643 $ 260,872
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 98,711 95,169
Amortization of intangibles 9,631 9,691
Share-based compensation expense 8,590 9,816
Provision for losses on accounts receivable 2,621 5,065
Change in deferred income taxes (10,880) 3,745
(Gain) loss on sale of property and equipment 1,134 (9,759)
Gain on sale of subsidiary   (402)
Pre-tax gain on sale of discontinued operations (70,201)  
Lease impairment charges 30,162  
Change in fair value of contingent consideration (12,800) 810
Change in fair value of equity investment (3,739)  
Changes in operating assets and liabilities:    
Receivables 43,478 (54,889)
Prepaid expenses 8,640 7,550
Other assets 2,393 287
Income taxes (22,051) (11,068)
Operating right-of-use assets and lease liabilities, net 3,286 1,579
Accounts payable, accrued expenses, and other liabilities (40,863) 31,983
NET CASH PROVIDED BY OPERATING ACTIVITIES 194,755 350,449
INVESTING ACTIVITIES    
Purchases of property, plant and equipment, net of financings (129,779) (76,068)
Proceeds from sale of property and equipment 5,972 13,938
Proceeds from sale of discontinued operations 100,949  
Business acquisition, net of cash acquired   2,279
Proceeds from the sale of subsidiary   475
Purchases of short-term investments (80,353) (145,254)
Proceeds from sale of short-term investments 160,570 48,161
Capitalization of internally developed software (9,424) (13,922)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 47,935 (170,391)
FINANCING ACTIVITIES    
Borrowings under credit facilities   58,000
Proceeds from notes payable   12,113
Payments on long-term debt (52,489) (99,567)
Net change in book overdrafts (12,489) 2,102
Deferred financing costs 57 (53)
Payment of common stock dividends (8,696) (7,892)
Purchases of treasury stock (65,886) (50,117)
Payments for tax withheld on share-based compensation (10,056) (15,733)
NET CASH USED IN FINANCING ACTIVITIES (149,559) (101,147)
NET INCREASE IN CASH AND CASH EQUIVALENTS 93,131 78,911
CASH AND CASH EQUIVALENTS AT END OF PERIOD 251,503 155,531
NONCASH INVESTING ACTIVITIES    
Equipment financed 31,024 57,241
Accruals for equipment received 5,743 5,587
Lease liabilities arising from obtaining right-of-use assets $ 49,033 $ 78,324