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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 72,953 $ 106,768
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 35,764 37,925
Non-cash lease expense 21,978 26,879
Stock-based compensation 6,149 13,383
Foreign currency losses 4,769 2,415
Loss on disposal of assets 212 2,189
Deferred taxes 4,369 3,007
Changes in operating assets and liabilities:    
Accounts receivable, net (6,926) (2,789)
Inventories, net 32,213 (80,224)
Prepaid expenses and other (17,527) (33,061)
Other assets 4,461 (19,897)
Accounts payable 10,246 (4,930)
Accrued expenses (97,413) (55,429)
Other liabilities (17,152) 5,623
Net cash provided by operating activities 54,096 1,859
Cash flows from investing activities:    
Purchases of property and equipment (19,818) (36,849)
Proceeds on investment sales 5,290 7,550
Purchases of investments (13,955) (6,973)
Acquisitions, net of cash acquired 0 (18,963)
Net cash used in investing activities (28,483) (55,235)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 24,598 5,928
Payment of cash dividends (38,685) (38,329)
Repurchases of shares of common stock (20,010) (60,410)
Finance lease principal payments (927) (956)
Payment of debt issuance costs (5,077) 0
Payments of debt (407,500) (25,000)
Proceeds from debt 460,000 130,000
Net cash used in financing activities 12,399 11,233
Effect of exchange rate changes on cash (13,682) (5,781)
Net increase (decrease) in cash and cash equivalents 24,330 (47,924)
Cash and cash equivalents, beginning of period 339,593 402,683
Cash and cash equivalents, end of period $ 363,923 $ 354,759