Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities:        
Net income $ 124,899 $ 89,849 $ 238,216 $ 202,649
Adjustments to reconcile net income to net cash provided by (used in) operating activities—        
Depreciation 51,543 48,426 150,296 135,769
Amortization of intangible assets 10,623 8,979 31,535 22,035
Change in fair value of contingent consideration liabilities (1,394) 0 (7,673) 0
Equity in losses of unconsolidated affiliates 17,835 2,755 42,976 5,506
Amortization of debt issuance costs 287 339 863 1,017
(Gain) loss on sale of property and equipment (340) (451) 1,605 (617)
Foreign currency (gain) loss (168) 1,022 (237) 1,884
Provision for doubtful accounts 2,151 7 3,135 933
Deferred income tax (benefit) provision (7,391) (1,980) 6,114 1,650
Non-cash stock-based compensation 11,631 10,929 39,803 34,352
Changes in operating assets and liabilities, net of non-cash transactions (170,572) 13,692 (285,016) (230,482)
Net cash provided by operating activities 39,104 173,567 221,617 174,696
Cash Flows from Investing Activities:        
Capital expenditures (74,144) (62,997) (222,735) (168,278)
Proceeds from sale of property and equipment 5,642 4,080 18,635 16,424
Proceeds from insurance settlements related to property and equipment 145 136 510 733
Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired (48,683) (352,887) (94,917) (360,522)
Investments in unconsolidated affiliates (881) (40,557) (2,450) (53,511)
Cash received from (paid for) other investments, net (18,510) 676 (17,726) (410)
Cash paid for intangible assets 0 0 (3,000) 0
Net cash used in investing activities (136,431) (451,549) (321,683) (565,564)
Cash Flows from Financing Activities:        
Borrowings under credit facility 855,831 812,503 2,893,224 2,060,597
Payments under credit facility (743,162) (541,040) (2,605,092) (1,664,424)
Payments on other long-term debt (336) (558) (1,067) (3,441)
Net borrowings (repayments) of short-term debt 7,124 0 20,066 (2,783)
Distributions to non-controlling interests (1,275) (443) (2,942) (1,806)
Payments related to tax withholding for share-based compensation (464) (329) (14,668) (18,134)
Exercise of stock options 0 0 0 25
Repurchase of common stock (26,755) 0 (216,661) 0
Net cash provided by financing activities 90,963 270,133 72,860 370,034
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (199) 475 1,605 1,658
Net decrease in cash, cash equivalents and restricted cash (6,563) (7,374) (25,601) (19,176)
Cash, cash equivalents and restricted cash, beginning of period 124,737 102,608 143,775 114,410
Cash, cash equivalents and restricted cash, end of period $ 118,174 $ 95,234 $ 118,174 $ 95,234