v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 258,730 $ 147,693
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 404,626 385,771
Stock-based compensation 98,715 89,952
Amortization of intangible assets 52,474 49,569
Amortization of debt issuance costs and debt discounts and premiums 4,590 4,204
Provision for credit loss allowance 2,891 3,406
Loss on asset sales 852 1,818
Gain on debt extinguishment (254) (529)
Other items 3,949 3,690
Changes in operating assets and liabilities:    
Accounts receivable (53,392) (100,727)
Income taxes, net 4,991 13,881
Other assets (129) 6,115
Operating lease right-of-use assets 34,766 35,400
Operating lease liabilities (33,587) (31,740)
Accounts payable and accrued expenses (72,765) (75,980)
Other liabilities (15,049) 48,600
Net cash provided by operating activities 691,408 581,123
Cash flows from investing activities:    
Purchases of investments (24,393) (38,558)
Real estate acquisitions (40,397) (3,074)
Purchases of other property, plant and equipment (529,600) (412,518)
Proceeds from sale of assets, net of cash transferred 72,254 195,391
Net cash used in investing activities (522,136) (258,759)
Cash flows from financing activities:    
Proceeds from employee equity awards 44,543 43,876
Payment of dividends (326,162) (289,669)
Proceeds from public offering of common stock, net of issuance costs 300,775 0
Proceeds from senior notes, net of debt discounts 565,239 0
Proceeds from mortgage and loans payable 0 676,850
Repayments of finance lease liabilities (35,498) (40,773)
Repayments of mortgage and loans payable (2,403) (551,833)
Debt issuance costs (4,257) (7,366)
Net cash provided by (used in) financing activities 542,237 (168,915)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash 23,883 4,593
Net increase in cash, cash equivalents and restricted cash 735,392 158,042
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 2,643,640 1,707,496
Cash and cash equivalents 2,642,578 1,695,305
Current portion of restricted cash included in other current assets 967 11,295
Non-current portion of restricted cash included in other assets 95 896
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 2,643,640 $ 1,707,496

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