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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income $ 280,366 $ 285,350
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 73,454 70,519
Stock-based compensation expense 15,914 11,762
Provision for expected credit losses 13,593 8,522
Gain on sale of assets, net (5,170) (33,598)
Provision for deferred income taxes 2,210 2,221
Changes in operating assets and liabilities:    
Trade accounts receivables and other accounts receivable (40,872) (34,294)
Financing receivables (21,021) (13,041)
Materials and supplies 295 3,780
Other current assets (3,580) (11,426)
Accounts payable and accrued expenses (669) (8,564)
Unearned revenue 19,655 20,685
Other long-term assets and liabilities 8,362 (3,005)
Net cash provided by operating activities 342,537 298,911
INVESTING ACTIVITIES    
Acquisitions, net of cash acquired (110,418) (39,692)
Capital expenditures (22,921) (20,031)
Proceeds from sale of assets 9,822 70,967
Other investing activities, net 139 (140)
Net cash (used in) provided by investing activities (123,378) 11,104
FINANCING ACTIVITIES    
Payment of contingent consideration (11,663) (19,413)
Borrowings under term loan 252,000  
Borrowings under revolving commitment 11,000 82,500
Repayments of term loan (175,000) (83,000)
Repayments of revolving commitment (118,000) (134,500)
Payment of dividends (147,635) (119,677)
Cash paid for common stock purchased (6,987) (10,598)
Net cash used in financing activities (196,285) (284,688)
Effect of exchange rate changes on cash (6,299) (6,149)
Net increase in cash and cash equivalents 16,575 19,178
Cash and cash equivalents at beginning of period 105,301 98,477
Cash and cash equivalents at end of period 121,876 117,655
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,229 681
Cash paid for income taxes, net 104,974 88,350
Non-cash additions to operating lease right-of-use assets $ 92,365 $ 101,720

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