v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 72,445 $ 92,643
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,847 23,596
Stock-based compensation expense 6,138 3,921
Provision for expected credit losses 4,257 2,686
Gain on sale of assets, net (1,279) (32,260)
Provision for deferred income taxes 2,046 (2,039)
Changes in operating assets and liabilities:    
Trade accounts receivables and other accounts receivable (1,440) 471
Financing receivables (707) 624
Materials and supplies 151 (2,011)
Other current assets (3,629) (4,604)
Accounts payable and accrued expenses (16,934) 26,618
Unearned revenue 11,294 9,680
Other long-term assets and liabilities (9,657) 161
Net cash provided by operating activities 87,532 119,486
INVESTING ACTIVITIES    
Acquisitions, net of cash acquired (13,223) (16,978)
Capital expenditures (7,995) (7,826)
Proceeds from sale of assets 1,290 65,101
Other investing activities, net   (154)
Net cash (used in) provided by investing activities (19,928) 40,143
FINANCING ACTIVITIES    
Payment of contingent consideration (3,051) (4,926)
Borrowings under term loan 251,783  
Borrowings under revolving commitment 11,000 3,500
Repayments of term loan (4,000) (21,000)
Repayments of revolving commitment (118,000) (70,500)
Payment of dividends (49,205) (39,389)
Cash paid for common stock purchased (6,434) (9,342)
Net cash provided by (used in) financing activities 82,093 (141,657)
Effect of exchange rate changes on cash 3,340 873
Net increase in cash and cash equivalents 153,037 18,845
Cash and cash equivalents at beginning of period 105,301 98,477
Cash and cash equivalents at end of period 258,338 117,322
Supplemental disclosure of cash flow information:    
Cash paid for interest 753 663
Cash paid for income taxes, net 11,962 719
Non-cash additions to operating lease right-of-use assets $ 17,937 $ 60,389

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