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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Net income $ 844,245 $ 506,421 $ 576,968
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 91,259 101,727 100,449
Provision for credit losses 10,649 17,281 5,853
Stock-based compensation 129,977 43,995 39,083
Deferred income taxes (110,188) (32,984) (2,407)
Excess tax benefit on stock-based compensation (13,101) (17,581) (8,492)
Other operating activities 1,915 15,096 (3,830)
Changes in operating elements, net of effects of acquisitions:      
Receivables (1,547,545) (452,145) 208,312
Contract assets (257,728) (65,454) 26,761
Prepaid expenses and other (43,819) 27,237 (29,871)
Accounts payable and outstanding checks 660,028 180,272 (17,968)
Accrued compensation 63,912 22,547 (40,757)
Accrued transportation expense 189,204 52,380 (18,626)
Accrued income taxes 72,665 51,916 (12,636)
Other accrued liabilities 1,607 26,503 8,937
Other assets and liabilities 1,875 21,980 3,643
Net cash provided by operating activities 94,955 499,191 835,419
INVESTING ACTIVITIES      
Purchases of property and equipment (34,197) (23,133) (36,290)
Purchases and development of software (36,725) (30,876) (34,175)
Acquisitions, net of cash acquired (14,750) (223,230) (59,200)
Other investing activities 0 5,525 16,636
Net cash used for investing activities (85,672) (271,714) (113,029)
FINANCING ACTIVITIES      
Proceeds from stock issued for employee benefit plans 70,669 107,657 63,092
Stock tendered for payment of withholding taxes (26,720) (17,854) (15,115)
Repurchase of common stock (581,756) (177,514) (309,444)
Cash dividends (277,321) (209,956) (277,786)
Proceeds from long-term borrowings 300,000 0 1,298,000
Payments on long-term borrowings (2,048) 0 (1,505,000)
Proceeds from short-term borrowings 3,728,000 1,436,600 185,000
Payments on short-term borrowings (3,203,251) (1,579,600) (90,000)
Net cash provided by (used for) financing activities 7,573 (440,667) (651,253)
Effect of exchange rates on cash and cash equivalents (3,239) 9,128 (1,894)
Net change in cash and cash equivalents 13,617 (204,062) 69,243
Cash and cash equivalents, beginning of year 243,796 447,858 378,615
Cash and cash equivalents, end of year 257,413 243,796 447,858
Supplemental cash flow disclosures      
Cash paid for income taxes 227,427 93,070 219,029
Cash paid for interest 51,367 47,518 50,854
Accrued share repurchases held in other accrued liabilities $ 4,293 $ 5,231 $ 0