v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net income $ 107,838 $ 105,248
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,498 29,209
Stock-based compensation expense 10,822 8,799
Provision for expected credit losses 7,822 10,730
Gain on sale of assets, net (61) (692)
Provision for deferred income taxes 2,053 12,470
Other operating activities, net 160 358
Changes in operating assets and liabilities:    
Trade accounts receivable (15,974) (7,766)
Financing receivables (92) (506)
Materials and supplies (1,110) (1,117)
Other current assets (14,317) (3,069)
Accounts payable and accrued expenses (33,494) (25,292)
Unearned revenue 6,567 10,202
Other long-term assets and liabilities 15,655 8,318
Net cash provided by operating activities 118,367 146,892
INVESTING ACTIVITIES    
Acquisitions, net of cash acquired (18,488) (27,191)
Capital expenditures (7,139) (6,781)
Proceeds from sale of assets 624 1,405
Other investing activities, net 436 0
Net cash used in investing activities (24,567) (32,567)
FINANCING ACTIVITIES    
Payment of contingent consideration (6,104) (1,193)
Issuance of senior notes 0 492,215
Borrowings under revolving commitment 0 11,000
Borrowings under commercial paper, net 49,496 0
Repayments of revolving commitment 0 (408,000)
Payment of debt issuance costs 0 (5,428)
Payment of dividends (87,849) (79,910)
Cash paid for common stock purchased (22,350) (14,671)
Other financing activities, net (9,385) 1,375
Net cash used in financing activities (76,192) (4,612)
Effect of exchange rate changes on cash (1,069) 1,834
Net increase in cash and cash equivalents 16,539 111,547
Cash and cash equivalents at beginning of period 100,004 89,630
Cash and cash equivalents at end of period 116,543 201,177
Supplemental disclosure of cash flow information:    
Cash paid for interest 15,083 4,107
Cash paid for income taxes, net 42,531 5,853
Non-cash additions to operating lease right-of-use assets $ 25,277 $ 41,751