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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 639,640 $ 172,580
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 111,946 134,331
Deferred income taxes (7,398) (8,857)
Stock-based compensation expense 8,841 10,402
Other non-cash adjustments 2,037 2,874
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Receivables (549,712) (294,129)
Inventories (561,813) (340,940)
Contract assets (33,081) (89,994)
Other current assets (27,860) (27,664)
Other assets and liabilities 407 1,999
Accounts payable 470,198 241,621
Accrued liabilities 93,237 2,039
Contract liabilities 33,380 (4,770)
Net cash provided by (used in) operating activities 179,822 (200,508)
Cash flows from investing activities:    
Cash acquired in BMC Merger   167,490
Purchases of property, plant and equipment (50,475) (39,263)
Proceeds from sale of property, plant and equipment 2,140 3,194
Net cash (used in) provided by investing activities (48,335) 131,421
Cash flows from financing activities:    
Borrowings under revolving credit facility 1,906,000 410,000
Repayments under revolving credit facility (1,738,000) (260,000)
Proceeds from long-term debt and other loans 301,500  
Repayments of long-term debt and other loans (827) (468,671)
Payments of debt extinguishment costs   (2,475)
Payments of loan costs (6,416) (4,272)
Exercise of stock options 420 235
Repurchase of common stock (354,965) (10,418)
Net cash provided by (used in) financing activities 107,712 (335,601)
Net change in cash and cash equivalents 239,199 (404,688)
Cash and cash equivalents at beginning of period 42,603 423,806
Cash and cash equivalents at end of period 281,802 19,118
Supplemental disclosures of cash flow information:    
Cash paid for interest 52,528 21,922
Cash paid for income taxes 202 21,701
Supplemental disclosures of non-cash activities:    
Non-cash consideration for the BMC Merger   3,658,362
Accrued purchases of property, plant and equipment 6,024 6,734
Right-of-use assets obtained in exchange for operating lease obligations 14,918 13,707
Assets acquired under finance lease obligations   $ 1,644
Amounts accrued for repurchases of common stock $ 11,917