v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 482,850 $ 471,494
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 196,157 189,137
Loss on disposal of property and equipment 255 5,624
Share-based compensation 8,377 5,363
Provision for deferred income taxes (25,155)  
Other operating activities, net 23,974 75,897
Net cash provided by operating activities 686,458 747,515
Cash flows from investing activities:    
Purchase of property and equipment (166,459) (370,310)
Proceeds from sale of property and equipment 3,411 2,598
Purchase of short-term investments (205,301)  
Other investing, net (100)  
Net cash used in investing activities (368,449) (367,712)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 99,923  
Payments for share repurchases (306,791) (205,346)
Forward contract for accelerated share repurchases (37,500)  
Dividends paid (53,471) (41,005)
Other financing activities, net (3,345) (1,448)
Net cash used in financing activities (301,184) (247,799)
Increase in cash and cash equivalents 16,825 132,004
Cash and cash equivalents at beginning of period 403,571 190,282
Cash and cash equivalents at end of period $ 420,396 $ 322,286

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