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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 1,316,524 $ 1,182,701 $ 898,790
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 350,529 347,819 290,971
Deferred income taxes 42,114 2,220 31,676
Share-based compensation 57,226 38,058 25,597
Gain on sale of real estate 0 (102,803) 0
Other operating activities (41,626) 18,377 22,575
Changes in operating assets and liabilities:      
Trade accounts receivable, net 31,989 (244,371) (258,994)
Merchandise inventories, net (69,148) (380,420) (329,237)
Trade accounts payable 2,038 676,406 777,318
Other assets and liabilities (254,036) (71,016) (200,411)
Net cash provided by operating activities 1,435,610 1,466,971 1,258,285
Investing activities:      
Purchases of property, plant and equipment (512,675) (339,632) (266,136)
Proceeds from sale of property, plant and equipment 25,099 145,007 26,549
Proceeds from divestitures of businesses 10,754 33,604 17,738
Proceeds from sale of investment 80,482 0 0
Proceeds from settlement of net investment hedge 0 158,441 0
Acquisitions and other investing activities (309,452) (1,681,660) (284,315)
Net cash used in investing activities (705,792) (1,684,240) (506,164)
Financing activities:      
Proceeds from debt 3,769,132 5,108,641 892,694
Payments on debt (3,237,959) (4,147,773) (1,053,423)
Shares issued from employee incentive plans (24,145) (17,377) (22,346)
Dividends paid (526,674) (495,917) (465,649)
Purchase of stock (261,473) (222,726) (333,599)
Other financing activities (11,042) (19,747) (7,209)
Net cash (used in) provided by financing activities (292,161) 205,101 (989,532)
Effect of exchange rate changes on cash and cash equivalents 10,887 (49,070) (38,054)
Net increase (decrease) in cash and cash equivalents 448,544 (61,238) (275,465)
Cash and cash equivalents at beginning of year 653,463 714,701 990,166
Cash and cash equivalents at end of year 1,102,007 653,463 714,701
Supplemental disclosures of cash flow information      
Income taxes 366,270 362,859 305,326
Interest $ 90,405 $ 73,368 $ 65,732