XML 97 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Cash flows from operating activities:                
Net income $ 63,401 $ 74,120   $ 68,347 $ 28,214 $ 205,410 $ 109,747  
Adjustments to reconcile net income to cash flows provided by operating activities:                
Depreciation and amortization           80,211 73,366  
Stock-based compensation expense           20,295 13,646  
Other non-cash items           5,418 1,818  
Changes in assets and liabilities, net of acquisitions of businesses:                
Accounts receivable, net           (140,768) (103,209)  
Inventories, net           (253,031) 24,423  
Prepaid expenses and other assets           (28,274) (29,489)  
Accounts payable, trade           97,071 68,379  
Accrued expenses and other liabilities           25,961 53,806  
Net cash flows provided by operating activities           12,293 212,487  
Cash flows from investing activities:                
Capital expenditures           (73,872) (28,663)  
Acquisitions of businesses, net of cash acquired           (154,544) (94,909)  
Other investing activities           11,544 3,972  
Net cash flows used in investing activities           (216,872) (119,600)  
Cash flows from financing activities:                
Vesting of stock-based awards, net of shares tendered for payment of taxes           (8,258) (4,807)  
Proceeds from revolving credit facility           832,493 285,827  
Repayments under revolving credit facility           (912,547) (273,130)  
Repayments under term loan and other borrowings           (13,375) (15,385)  
Proceeds from issuance of convertible notes           460,000 0  
Purchases of convertible note hedge contracts           (100,142) 0  
Proceeds from issuance of warrants concurrent with note hedge contracts           48,484 0  
Payment of debt issuance costs           (11,955) 0  
Payment of dividends           (64,425) (51,535)  
Payment of contingent consideration and holdbacks related to acquisitions           (8,061) (9)  
Other financing activities           1,972 (167)  
Net cash flows provided by (used in) financing activities           224,186 (59,206)  
Effect of exchange rate changes on cash and cash equivalents           1,187 (853)  
Net increase in cash and cash equivalents           20,794 32,828  
Cash and cash equivalents at beginning of period   $ 51,821 $ 68,187   $ 35,359 51,821 35,359 $ 35,359
Cash and cash equivalents cash at end of period $ 72,615   $ 51,821 $ 68,187   72,615 68,187 $ 51,821
Supplemental disclosure of cash flow information:                
Cash paid during the period for interest           9,127 12,743  
Cash paid during the period for income taxes, net of refunds           75,822 16,457  
Purchase of property and equipment in accrued expenses           $ 4,036 $ 2,588