Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES    
Net income $ 172,744 $ 191,497
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 49,172 46,902
Stock-based compensation expense 10,957 7,841
Provision for expected credit losses 8,433 4,673
Gain on sale of assets, net (3,190) (33,151)
Provision for deferred income taxes 2,503 (1,715)
Changes in operating assets and liabilities:    
Trade accounts receivables and other accounts receivable (29,217) (20,003)
Financing receivables (11,928) (8,862)
Materials and supplies (176) 661
Other current assets (21,651) (14,686)
Accounts payable and accrued expenses 10,745 31,129
Unearned revenue 19,860 20,320
Other long-term assets and liabilities 6,565 (5,401)
Net cash provided by operating activities 214,817 219,205
INVESTING ACTIVITIES    
Acquisitions, net of cash acquired (49,580) (28,385)
Capital expenditures (15,881) (13,229)
Proceeds from sale of assets 3,290 70,414
Other investing activities, net 139 (175)
Net cash (used in) provided by investing activities (62,032) 28,625
FINANCING ACTIVITIES    
Payment of contingent consideration (5,196) (12,873)
Borrowings under term loan 252,000  
Borrowings under revolving commitment 11,000 49,500
Repayments of term loan (65,000) (48,000)
Repayments of revolving commitment (118,000) (116,500)
Payment of dividends (98,434) (79,732)
Cash paid for common stock purchased (7,010) (10,289)
Net cash used in financing activities (30,640) (217,894)
Effect of exchange rate changes on cash (6,482) 115
Net increase in cash and cash equivalents 115,663 30,051
Cash and cash equivalents at beginning of period 105,301 98,477
Cash and cash equivalents at end of period 220,964 128,528
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,668 923
Cash paid for income taxes, net 69,472 51,870
Non-cash additions to operating lease right-of-use assets $ 51,212 $ 86,954