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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 1,626,850 $ 669,815
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 229,805 261,553
Deferred income taxes (22,627) (32,753)
Stock-based compensation expense 18,156 18,867
Other non-cash adjustments 8,614 3,534
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Receivables (637,115) (753,320)
Inventories (419,560) (840,283)
Contract assets (63,127) (113,823)
Other current assets (6,790) (53,672)
Other assets and liabilities 23,707 10,201
Accounts payable 168,144 448,527
Accrued liabilities 160,794 154,334
Contract liabilities 40,219 (23,244)
Net cash provided by (used in) operating activities 1,127,070 (203,776)
Cash flows from investing activities:    
Cash acquired in BCM merger   167,490
Prepayments for acquisitions   (225,000)
Cash used for acquisitions (192,945) (24,833)
Purchases of property, plant and equipment (119,538) (98,293)
Proceeds from sale of property, plant and equipment 5,395 9,321
Net cash used in investing activities (307,088) (171,315)
Cash flows from financing activities:    
Borrowings under revolving credit facility 3,599,000 1,769,000
Repayments under revolving credit facility (3,353,000) (1,233,000)
Proceeds from long-term debt and other loans 1,001,500  
Repayments of long-term debt and other loans (614,146) (470,330)
Payments of debt extinguishment costs (20,672) (2,475)
Payments of loan costs (15,816) (4,272)
Exercise of stock options 434 335
Repurchase of common stock (1,293,700) (17,707)
Net cash (used in) provided by financing activities (696,400) 41,551
Net change in cash and cash equivalents 123,582 (333,540)
Cash and cash equivalents at beginning of period 42,603 423,806
Cash and cash equivalents at end of period 166,185 90,266
Supplemental disclosures of cash flow information:    
Cash paid for interest 85,646 53,600
Cash paid for income taxes 430,789 191,070
Supplemental disclosures of non-cash activities:    
Non-cash or accrued consideration for acquisitions 7,371 3,658,362
Accrued purchases of property, plant and equipment 10,392 9,616
Right-of-use assets obtained in exchange for operating lease obligations 67,039 29,146
Assets acquired under finance lease obligations   $ 1,644
Amounts accrued for repurchases of common stock $ 69,412