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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operations    
Net Income $ 119,417 $ 80,678
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization 36,932 36,231
Deferred income taxes 6,663 (6,659)
Net gains on disposal of property (4) (270)
Losses on impairment of property 320 0
Net income attributable to noncontrolling interests (270) (229)
Changes in assets and liabilities:    
Trade receivables (148,423) (86,433)
Merchandise inventory (85,488) (94,141)
Other current assets 7,535 1,489
Other non-current assets (14,631) (2,503)
Trade accounts payable 115,610 83,768
Accrued payroll and benefit costs (25,815) (36,019)
Other current liabilities 13,188 20,875
Other non-current liabilities (42,204) (24,646)
Total adjustments to net income (136,587) (108,537)
Net cash used by operations (17,170) (27,859)
Cash Flows from Investing Activities    
Proceeds from disposal of property 535 2,015
Capital expenditures for property (27,319) (26,674)
Net cash used by investing activities (26,784) (24,659)
Cash Flows from Financing Activities    
Net increase in short-term borrowings 76,357 76,139
Principal payments under capital leases (3,577) (3,613)
Sale of common stock 15,991 15,558
Purchases of common stock (12,832) (11,424)
Sales of noncontrolling interests’ common stock 0 627
Purchases of noncontrolling interests’ common stock (255) (392)
Dividends paid (17,587) (15,910)
Net cash provided by financing activities 58,097 60,985
Net Increase in Cash 14,143 8,467
Cash, Beginning of Year 42,757 43,339
Cash, End of Period 56,900 51,806
Non-cash Investing and Financing Activities    
Acquisitions of equipment under capital leases 2,829 1,407
Acquisition of software and maintenance under financing arrangement $ 5,046 $ 0