v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 465,743 $ 363,935
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 813,834 767,166
Stock-based compensation 203,261 194,634
Amortization of intangible assets 104,902 101,444
Amortization of debt issuance costs and debt discounts 9,243 8,740
Provision for credit loss allowance 9,634 4,198
Gain (Loss) on asset sales (1,089) 1,724
Gain on debt extinguishment (254) (109)
Other items 15,781 8,288
Changes in operating assets and liabilities:    
Accounts receivable (152,556) (127,029)
Income taxes, net 7,945 (19,782)
Other assets (42,173) 10,259
Operating lease right-of-use assets 77,103 74,239
Operating lease liabilities (65,310) (66,372)
Accounts payable and accrued expenses 15,867 (20,852)
Other liabilities (29,225) 82,221
Net cash provided by operating activities 1,432,706 1,382,704
Cash flows from investing activities:    
Purchases of investments (54,683) (87,022)
Sales of investments 0 22,073
Business acquisitions, net of cash and restricted cash acquired 0 (883,668)
Real estate acquisitions (40,397) (33,331)
Purchases of other property, plant and equipment (1,167,759) (897,348)
Proceeds from sale of assets, net of cash transferred 72,254 251,415
Net cash used in investing activities (1,190,585) (1,627,881)
Cash flows from financing activities:    
Proceeds from employee equity programs 44,543 43,876
Payment of dividends (646,405) (572,717)
Proceeds from public offering of common stock, net of issuance costs 300,775 0
Proceeds from senior notes, net of debt discounts 565,239 1,193,688
Proceed from mortgage and loans payable 0 676,850
Repayment of finance lease liabilities (66,462) (69,556)
Proceeds from redeemable non-controlling interest 25,000 0
Repayment of mortgage and loans payable (3,423) (561,032)
Debt issuance costs (4,257) (17,731)
Net cash provided by financing activities 215,010 693,378
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash (22,798) (96,536)
Net increase in cash, cash equivalents and restricted cash 434,333 351,665
Cash, cash equivalents and restricted cash at beginning of period 1,908,248 1,549,454
Cash, cash equivalents and restricted cash at end of period 2,342,581 1,901,119
Cash and cash equivalents 2,342,177 1,891,311
Current portion of restricted cash included in other current assets 309 8,943
Non-current portion of restricted cash included in other assets 95 865
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 2,342,581 $ 1,901,119

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