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
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 119,077 $ 52,379
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 205,068 180,067
Deferred income taxes 21,693 15,994
Share-based compensation 30,450 37,029
Non-cash rent expense 25,181 26,900
Impairment charges associated with long-lived assets 2,941 6,620
(Gain) loss on disposal of property and equipment, net (6,548) 13,742
Write-off of debt discounts and issuance costs 3,510 0
Amortization of debt discounts and issuance costs 5,891 5,862
Changes in operating assets and liabilities 1,794 (4,407)
Other 2,919 (3,240)
Net cash provided by operating activities 411,976 330,946
Cash flows from investing activities:    
Capital expenditures (388,213) (529,965)
Proceeds from sale-leaseback transactions 207,714 121,831
Proceeds from the sale of land 15,577 4,169
Other 2,819 416
Net cash used in investing activities (162,103) (403,549)
Cash flows from financing activities:    
Proceeds from borrowings 0 44,291
Repayments of debt (408,612) (11,202)
Proceeds from revolving credit facility 1,045,000 986,000
Repayments of revolving credit facility (925,000) (961,000)
Repayments of finance lease liabilities (626) (771)
Proceeds from financing obligations 4,300 1,500
Payments of debt discounts and issuance costs (1,873) (2,550)
Proceeds from the issuance of common stock, net of issuance costs 124,357 0
Proceeds from stock option exercises 19,548 14,897
Proceeds from issuances of common stock in connection with the employee stock purchase plan 1,462 1,450
Other (1,304) (110)
Net cash (used in) provided by financing activities (142,748) 72,505
Effect of exchange rates on cash and cash equivalents and restricted cash and cash equivalents (38) 30
Increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents 107,087 (68)
Cash and cash equivalents and restricted cash and cash equivalents – beginning of period 29,966 25,509
Cash and cash equivalents and restricted cash and cash equivalents – end of period $ 137,053 $ 25,441