v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Operating activities:          
Net income (loss) $ 55,241 $ (8,981) $ 111,793 $ (35,925)  
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:          
Depreciation and amortization     124,753 149,601  
Impairment of long-lived assets     6,526 4,781  
Change in fair value of contingent consideration, net     (1,266)    
Payment of contingent consideration in excess of acquisition date fair value     (6,170)    
Provision for credit losses     48,723 21,896  
Amortization of deferred debt issuance costs     8,384 9,477  
Share-based compensation     55,733 55,194  
Deferred income taxes, net     18,266 (27,781)  
Loss on extinguishment of debt       12,726  
Loss (gain) on disposition of fixed assets     1,503 (55)  
Other     (1,838) (959)  
Change in operating assets and liabilities, net of acquisitions:          
Accounts receivable     (162,689) (163,996)  
Prepaid expenses and other current assets     24,857 (2,470)  
Inventories     (2,279) (74,265)  
Trade accounts payable     42,836 155,563  
Accrued expenses     17,212 (150,032)  
Other assets and liabilities     (27,734) (20,593)  
Net cash provided by (used in) operating activities     258,610 (66,838)  
Investing activities:          
Purchases of property and equipment     (57,819) (65,602)  
Acquisitions of businesses     (8,308) (59,755)  
Other     (5,068) 900  
Net cash used in investing activities     (71,195) (124,457)  
Financing activities:          
Long-term debt borrowings       2,566,000  
Long-term debt repayments     (37,933) (3,384,633)  
Proceeds from issuance of common stock on initial public offering, net       656,485  
Proceeds from issuance of tangible equity units, net       389,000  
(Repayments) borrowings of the Revolving Credit Facility, net     (63,300) 46,400  
Payments of debt issuance costs       (43,188)  
Repurchase of shares of common stock       (650)  
Proceeds from shares issued under share-based compensation plan     14,681 531  
Taxes paid related to net share settlement of equity awards     (5,583)    
Payment of acquisition earn-outs       (4,156)  
Purchase of redeemable noncontrolling interest     (5,100) (2,316)  
Payments of financing lease obligations     (10,133) (9,276)  
Net cash (used in) provided by financing activities     (107,368) 214,197  
Net increase in cash and cash equivalents     80,047 22,902  
Cash and cash equivalents at beginning of year     61,253 13,071 $ 13,071
Cash and cash equivalents at end of period 141,300 35,973 141,300 35,973 $ 61,253
Cash and cash equivalents included in assets held for sale at end of period 956 427 956 427  
Cash and cash equivalents included in continuing operations at end of period $ 140,344 $ 35,546 140,344 35,546  
Supplemental disclosures of cash flow information:          
Interest, net     137,872 164,927  
Income taxes, net of refunds     14,851 24,312  
Supplemental schedule of non-cash investing and financing activities:          
Notes issued in connection with acquisitions       23,408  
Financing lease obligations assumed     10,452 9,625  
Purchases of property and equipment in accounts payable     $ 2,856 3,593  
Consideration for purchase of redeemable noncontrolling interest in accounts payable       5,100  
Common stock issued in connection with acquisitions       $ 31,081