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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income (loss) $ 43,768 $ 16,754 $ 9,309 $ (63,792)  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:          
Depreciation 102,141 103,038 209,576 210,285  
Amortization of intangible assets 33,611 42,043 67,301 83,987  
Non-cash stock-based compensation expense     16,698 17,090  
Benefit from deferred income taxes     (65,312) (42,548)  
Equity in earnings of unconsolidated affiliates, net (5,892) (7,496) (15,111) (16,648)  
Gains on sales and impairments of assets, net     (9,415) (13,598)  
Loss on extinguishment of debt 11,344 0 11,344 0  
Non-cash interest expense, net     2,885 2,864  
Other non-cash items, net     12,714 389  
Changes in assets and liabilities, net of acquisitions:          
Accounts receivable     45,258 (61,606)  
Contract assets     222,547 (97,689)  
Inventories     10,113 3,693  
Other assets, current and long-term portion     35,805 38,324  
Accounts payable and accrued expenses     (312,882) (204,453)  
Contract liabilities     139,745 65,404  
Other liabilities, current and long-term portion     (8,376) (19,612)  
Net cash provided by (used in) operating activities     372,199 (97,910)   Close
Cash flows from investing activities:          
Cash paid for acquisitions, net of cash acquired     (61) (63,880)  
Capital expenditures     (56,907) (119,067)  
Proceeds from sales of property and equipment     31,079 42,570  
Payments for other investments     (884) (1,627)  
Proceeds from other investments     0 425  
Other investing activities, net     2,303 119  
Net cash used in investing activities     (24,470) (141,460)   Close
Cash flows from financing activities:          
Proceeds from credit facilities     2,108,500 1,687,400  
Repayments of credit facilities and term loans     (2,933,375) (1,580,775)  
Proceeds from issuance of 5.900% senior notes     549,758 0  
Repayments of 6.625% senior notes     (203,709) 0  
Payments of finance lease obligations     (71,226) (85,223)  
Payments of acquisition-related contingent consideration     (2,874) (8,955)  
Payments to non-controlling interests, including acquisition of interests and distributions     (12,632) (11,660)  
Payments for stock-based awards     (2,761) (10,256)  
Other financing activities, net     (10,759) (2,686)  
Net cash used in financing activities     (579,078) (12,155)   Close
Effect of currency translation on cash     (626) 838   Close
Net decrease in cash and cash equivalents     (231,975) (250,687)   Close
Cash and cash equivalents - beginning of period     529,561 370,592 $ 370,592
Cash and cash equivalents - end of period $ 297,586 $ 119,905 297,586 119,905 $ 529,561
Supplemental cash flow information:          
Interest paid     104,622 111,969  
Income taxes paid, net of refunds     44,996 13,947  
Supplemental disclosure of non-cash information:          
Additions to property and equipment from finance leases and other financing arrangements     $ 53,093 $ 84,323