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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net income $ 1,077.8 $ 1,104.3 $ 1,114.5
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 275.3 270.7 290.6
Equity-based compensation expense 64.7 93.7 91.1
Deferred income taxes (14.1) (32.7) (18.2)
Provision for credit losses 32.2 14.9 8.3
Other 4.1 29.0 16.2
Changes in assets and liabilities:      
Accounts receivable (559.4) (54.5) (34.8)
Merchandise inventory 61.1 139.0 111.9
Other assets (605.3) 183.3 (208.9)
Accounts payable-trade 443.8 (55.4) (260.0)
Other liabilities 497.1 (93.6) 225.2
Net cash provided by operating activities 1,277.3 1,598.7 1,335.9
Cash flows from investing activities      
Capital expenditures (122.6) (148.2) (127.8)
Purchases of short-term investments (211.1) 0.0 0.0
Acquisitions of businesses, net of cash acquired (323.9) (76.4) (36.7)
Other (1.6) (5.0) 0.0
Net cash used in investing activities (659.2) (229.6) (164.5)
Cash flows from financing activities      
Proceeds from borrowings under revolving credit facilities 294.2 207.6 2,301.4
Repayments of borrowings under revolving credit facilities (294.2) (282.0) (2,531.2)
Proceeds from issuance of long-term debt 1,197.8 0.0 0.0
Repayments of long-term debt 0.0 (150.0) (635.5)
Payments to extinguish long-term debt (962.4) 0.0 0.0
Payments of debt issuance costs (10.9) 0.0 0.0
Repayments of receivable financing liability (36.6) (61.1) (68.8)
Net change in accounts payable-inventory financing (75.7) (23.7) 84.6
Repurchases of common stock (500.0) (500.0) 0.0
Proceeds from stock option exercises 47.0 49.3 30.2
Payment of incentive compensation plan withholding taxes (38.2) (40.0) (23.1)
Dividend payments (332.1) (321.5) (282.6)
Other 24.2 22.7 22.9
Net cash used in financing activities (686.9) (1,098.7) (1,102.1)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (12.2) 3.1 (12.2)
Net (decrease) increase in cash, cash equivalents and restricted cash (81.0) 273.5 57.1
Cash, cash equivalents and restricted cash – beginning of period 588.7 [1] 315.2 [1] 258.1
Cash, cash equivalents and restricted cash – end of period(1) [1] 507.7 588.7 315.2
Supplementary disclosure of cash flow information:      
Interest paid (217.5) (233.2) (224.3)
Income taxes paid, net $ (398.6) $ (401.4) $ (362.2)
[1] Refer to Note 1 (Description of Business and Summary of Significant Accounting Policies) for further information on restricted cash.