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
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 24,917 $ 27,460
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65,903 58,197
Deferred income taxes 5,996 6,333
Share-based compensation 7,626 5,622
Non-cash rent expense 5,958 9,028
Loss (gain) on disposal of property and equipment, net 245 (6,693)
Amortization of debt discounts and issuance costs 2,003 1,966
Changes in operating assets and liabilities (23,820) (23,650)
Other 1,579 (3,915)
Net cash provided by operating activities 90,407 74,348
Cash flows from investing activities:    
Capital expenditures (156,801) (170,814)
Proceeds from sale-leaseback transactions 0 32,676
Other (1,787) 1,287
Net cash used in investing activities (158,588) (136,851)
Cash flows from financing activities:    
Proceeds from borrowings 0 7,916
Repayments of debt (54,117) (3,701)
Proceeds from revolving credit facility 445,000 345,000
Repayments of revolving credit facility (315,000) (280,000)
Repayments of finance lease liabilities (193) (244)
Proceeds from stock option exercises 484 3,456
Other (1,199) (102)
Net cash provided by financing activities 74,975 72,325
Effect of exchange rates on cash and cash equivalents and restricted cash and cash equivalents (36) 6
Increase in cash and cash equivalents and restricted cash and cash equivalents 6,758 9,828
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 $ 36,724 $ 35,337