v3.23.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 916,687 $ 1,053,230
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 239,797 204,009
Gain on disposal of property and equipment (7,446) (2,584)
Deferred income taxes 37,404 20,705
Other, net 22,401 24,772
Changes in operating assets and liabilities, net (76,401) 30,102
Net cash provided by operating activities 1,132,442 1,330,234
Cash flows from investing activities:    
Purchase of property and equipment (651,363) (504,782)
Proceeds from sale of property and equipment 22,226 20,044
Purchase of short-term investments   (163,720)
Proceeds from maturities of short-term investments 48,852 259,623
Net cash used in investing activities (580,285) (388,835)
Cash flows from financing activities:    
Payments for share repurchases (368,095) (1,077,301)
Principal payments under debt agreements (20,000)  
Dividends paid (131,492) (101,440)
Other financing activities, net (12,281) (8,495)
Net cash used in financing activities (531,868) (1,187,236)
Increase (decrease) in cash and cash equivalents 20,289 (245,837)
Cash and cash equivalents at beginning of period 186,312 462,564
Cash and cash equivalents at end of period $ 206,601 $ 216,727

Source