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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income $ 26,343 $ 36,910 $ 50,582 $ 47,537  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     113,438 100,594  
Non-cash operating lease costs     4,325 5,538  
Share-based compensation     21,479 20,472  
Provision for credit losses on accounts receivable     1,012 1,336  
Deferred income taxes, net     (7,320) (7,869)  
Loss on sale of businesses 0 0 0 3,780  
Changes in fair value of contingent consideration     (2,318) 0  
Income from equity method investments, net     (11,745) (8,172)  
Gain (loss) on investments, net (4,340) (3,051) (4,340) 7,654  
Other     1,701 1,779  
Decrease (increase) in:          
Accounts receivable     147,417 44,215  
Prepaid expenses and other current assets     (523) (9,138)  
Other assets     1,900 (375)  
Increase (decrease) in:          
Accounts payable     (231,065) (80,548)  
Deferred revenue     464 13,108  
Accrued liabilities and other current liabilities     (7,320) (13,789)  
Net cash provided by operating activities     77,687 126,122  
Cash flows from investing activities:          
Purchases of property and equipment     (55,752) (53,633)  
Acquisitions, net of cash received     (50,345) (56,698)  
Distribution from equity method investment     9,196 0  
Proceeds from sale of equity investments     25,250 19,455  
Proceeds from sale of businesses, net of cash divested     0 7,860  
Other     51 (124)  
Net cash used in investing activities     (71,600) (83,140)  
Cash flows from financing activities:          
Repurchase of common stock     (68,834) (87,928)  
Issuance of common stock under employee stock purchase plan     3,751 4,525  
Deferred payments for acquisitions     (213) (7,417)  
Other     (1,592) (940)  
Net cash used in financing activities     (66,888) (91,760)  
Effect of exchange rate changes on cash and cash equivalents     12,180 (1,600)  
Net change in cash and cash equivalents     (48,621) (50,378)  
Cash and cash equivalents at beginning of period     505,880 737,612 $ 737,612
Cash and cash equivalents at end of period $ 457,259 $ 687,234 $ 457,259 $ 687,234 $ 505,880