XML 20 R9.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 156,497 $ 117,888
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 57,858 55,279
Non-cash lease expense 40,703 34,087
Stock-based compensation 16,476 15,439
Foreign currency losses 5,501 1,203
Loss on disposal of assets 13,210 2,516
Deferred taxes 3,846 (7,931)
Unrealized (gain)/losses on equity investments (18,077) 0
Changes in operating assets and liabilities:    
Accounts receivable, net 8,377 (9,273)
Inventories, net (109,371) 4,882
Prepaid expenses and other (29,311) 4,180
Other assets (18,438) (76,487)
Accounts payable (11,182) 15,884
Accrued expenses (89,993) 99,438
Other liabilities 5,977 27,343
Net cash provided by operating activities 32,073 284,448
Cash flows from investing activities:    
Purchases of property and equipment (50,384) (48,810)
Proceeds on investment sales 11,171 7,630
Purchases of investments (14,973) (8,759)
Acquisitions (net of cash acquired) (18,963) 0
Net cash used in investing activities (73,149) (49,939)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 7,874 3,321
Payment of cash dividends (57,336) (59,287)
Repurchases of shares of common stock (70,415) (127,361)
Finance lease principal payments (1,409) 0
Payments of debt (77,500) (135,000)
Proceeds from debt 130,000 115,000
Net cash used in financing activities (68,786) (203,327)
Effect of exchange rate changes on cash (10,409) (102)
Net increase (decrease) in cash and cash equivalents (120,271) 31,080
Cash and cash equivalents, beginning of period 402,683 335,630
Cash and cash equivalents, end of period $ 282,412 $ 366,710