v3.22.4
Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 1,377,159 $ 1,034,375 $ 672,682
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 276,066 259,899 261,267
Noncash lease expense 16,658 14,890 11,963
(Gain) Loss on disposal of property and equipment (3,425) (563) 736
Deferred income taxes 62,008 30,165 (41,011)
Share-based compensation 15,893 15,039 11,337
Changes in assets and liabilities:      
Customer and other receivables, net (13,009) (125,562) (49,045)
Prepaid expenses and other assets (24,714) (38,387) (1,722)
Accounts payable 23,756 14,008 (1,743)
Compensation, benefits and other accrued liabilities (11,202) 32,437 72,928
Claims and insurance accruals 5,464 10,963 (1,459)
Income taxes, net 6,480 (27,929) 8,750
Other liabilities (39,552) (6,729) (11,659)
Net cash provided by operating activities 1,691,582 1,212,606 933,024
Cash flows from investing activities:      
Purchase of property and equipment (775,148) (550,077) (225,081)
Proceeds from sale of property and equipment 22,096 19,548 3,690
Purchase of short-term investments (163,720) (359,389) (360,160)
Proceeds from maturities of short-term investments 369,300 435,130 29,988
Other investing activities, net   (500) (100)
Net cash used in investing activities (547,472) (455,288) (551,663)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt     99,923
Principal payments under debt agreements     (45,000)
Dividends paid (134,484) (92,366) (71,023)
Payments for share repurchases (1,277,219) (536,465) (364,057)
Forward contract for accelerated share repurchases   (62,500)  
Other financing activities, net (8,659) (4,853) (3,345)
Net cash used in financing activities (1,420,362) (696,184) (383,502)
Decrease (increase) in cash and cash equivalents (276,252) 61,134 (2,141)
Cash and cash equivalents at beginning of year 462,564 401,430 403,571
Cash and cash equivalents at end of year 186,312 462,564 401,430
Income taxes paid 396,510 352,826 266,506
Interest paid 3,953 4,232 5,686
Capitalized interest $ 3,260 2,655 $ 2,473
Supplemental disclosure of noncash investing and financing activities:      
Noncash purchases of property   $ 16,034  

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