v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 280,982 $ 307,395
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 131,170 125,644
Loss on disposal of property and equipment 140 718
Share-based compensation 4,282 4,216
Provision for deferred income taxes (13,400)  
Other operating activities, net 113,042 23,910
Net cash provided by operating activities 516,216 461,883
Cash flows from investing activities:    
Purchase of property and equipment (120,128) (229,956)
Proceeds from sale of property and equipment 2,570 366
Net cash used in investing activities (117,558) (229,590)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 99,923  
Payments for share repurchases (306,791) (164,732)
Forward contract for accelerated share repurchases (37,500)  
Dividends paid (35,892) (27,435)
Other financing activities, net (3,345) (1,448)
Net cash used in financing activities (283,605) (193,615)
Increase in cash and cash equivalents 115,053 38,678
Cash and cash equivalents at beginning of period 403,571 190,282
Cash and cash equivalents at end of period $ 518,624 $ 228,960

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