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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 381,361 $ 361,955
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,705 25,780
Operating lease cost 40,654 36,592
Share-based compensation 17,744 15,852
Asset impairment 24,081 0
Other non-cash items 18,517 769
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:    
Accounts receivable (119,159) (113,838)
Inventories 5,172 34,884
Prepaid expenses and other assets 2,247 (32,413)
Accounts payable, accrued expenses and other liabilities (19,034) 27,819
Right-of-use assets and operating lease liabilities (42,069) (35,176)
Income taxes 30,443 8,389
Cash provided by operating activities 373,662 330,613
Cash flows from investing activities:    
Purchases of property, equipment, and software (32,806) (51,645)
Cash used in investing activities (32,806) (51,645)
Cash flows from financing activities:    
Proceeds from borrowings 78,156 214,634
Repayments of borrowings (216,405) (513,703)
Deferred debt issuance costs (1,173) (612)
Repurchases of common stock (175,011) 0
Repurchases of common stock for tax withholding (5,913) (11,636)
Other 168 0
Cash used in financing activities (320,178) (311,317)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,747) 7,049
Net change in cash, cash equivalents, and restricted cash 17,931 (25,300)
Cash, cash equivalents, and restricted cash—beginning of period 153,097 194,885
Cash, cash equivalents, and restricted cash—end of period $ 171,028 $ 169,585