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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 400,105 $ 217,679
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 159,280 133,756
Equity-based compensation 17,451 17,040
Deferred income taxes 32,669 16,249
Other adjustments (2,293) (4,195)
Changes in certain assets and liabilities:    
Accounts receivable (373,774) (303,602)
Inventories (174,427) 13,810
Other assets 21,001 (32,115)
Accounts payable 156,905 248,600
Income taxes receivable/payable 74,432 42,815
Accrued expenses (163,033) (197,434)
Net cash provided by operating activities 148,316 152,603
Investing activities:    
Purchases of property, plant and equipment (137,979) (305,506)
Purchases of short-term investments   (10,000)
Proceeds from maturities of short-term investments   137,811
Other investing activities (1,087) (1,064)
Net cash used in investing activities (139,066) (178,759)
Financing activities:    
Issuance of current and long-term debt 599,469 1,405,943
Repayment of current and long-term debt (612,359) (432,527)
Dividends paid (72,470) (69,514)
Purchases of treasury stock (115,087) (250,138)
Other financing activities (22,312) (30,469)
Net cash (used in) provided by financing activities (222,759) 623,295
Increase (decrease) in cash, cash equivalents, and restricted cash (213,509) 597,139
Cash, cash equivalents, and restricted cash at beginning of period 775,272 595,010
Cash, cash equivalents, and restricted cash at end of period 561,763 1,192,149
Supplemental disclosure information:    
Cash paid for interest 26,000 28,477
Cash paid for income taxes, net $ 4,491 $ 3,717