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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 293,789 $ 172,776
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 146,477 126,691
Gain on sale of property and equipment (2,433) (1,157)
Gain on joint venture transaction (12,500)  
Gain on business acquisition (6,958)  
Stock-based compensation expense related to stock options and employee stock purchases 21,550 18,347
Deferred income tax benefit 7,921 (23,029)
Change in accounts receivable, net (75,066) 23,200
Change in inventories, net (264,687) 147,254
Change in prepaid expenses and other, net 875 (107)
Change in trade accounts payable 44,069 16,676
Change in customer deposits 9,650 (30,386)
Change in accrued expenses 25,464 (8,403)
Other, net 4,832 3,217
Net cash provided by operating activities 183,319 438,645
Cash flows from investing activities:    
Acquisition of property and equipment (175,243) (122,318)
Proceeds from the sale of property and equipment 7,014 2,576
Business disposition 27,500  
Business acquisition, net of cash acquired (15,754)  
Other (11,691) (1,610)
Net cash used in investing activities (168,174) (121,352)
Cash flows from financing activities:    
Draws (payments) on floor plan notes payable – non-trade, net 277,261 (157,440)
Proceeds from long-term debt 695,169 66,430
Principal payments on long-term debt (788,757) (222,216)
Principal payments on finance lease obligations (11,091) (10,620)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 11,080 13,870
Taxes paid related to net share settlement of equity awards (8,669) (7,447)
Payments of cash dividends 33,123 30,499
Common stock repurchased (85,270) (21,726)
Net cash provided by (used in) financing activities 56,600 (369,648)
Net increase (decrease) in cash and cash equivalents 71,745 (52,355)
Effect of exchange rate on cash (372)  
Cash and cash equivalents, beginning of period 148,146 312,048
Cash and cash equivalents, end of period 219,519 259,693
Supplemental disclosure of cash flow information:    
Interest 12,966 19,805
Income taxes, net of refunds 74,320 92,795
Assets acquired under finance leases $ 14,290 $ 21,442