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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 394,974 $ 287,739 $ 158,440
Adjustments to reconcile net income to cash flows provided by operating activities:      
Depreciation and amortization 129,212 112,320 97,980
Stock-based compensation expense 23,695 27,161 18,502
Deferred taxes (9,277) (3,279) (1,504)
Other non-cash items 3,496 7,456 2,229
Changes in assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net 115,706 (58,843) (45,028)
Inventories, net 117,419 (516,692) (86,898)
Prepaid expenses and other assets 14,990 (13,306) (29,158)
Accounts payable, trade (161,121) 68,879 67,679
Accrued expenses and other liabilities (26,580) (23,008) 49,158
Net cash flows provided by (used in) operating activities 602,514 (111,573) 231,400
Cash flows from investing activities:      
Capital expenditures (130,641) (98,534) (57,346)
Acquisitions of businesses (108,470) (194,107) (182,130)
Other investing activities (2,679) 11,423 7,175
Net cash flows used in investing activities (241,790) (281,218) (232,301)
Cash flows from financing activities:      
Vesting of stock-based awards, net of shares tendered for payment of taxes (10,961) (8,324) (4,853)
Proceeds from revolving credit facility 1,128,400 1,303,193 543,991
Repayments under revolving credit facility (1,233,740) (1,281,147) (430,390)
Proceeds from term loan borrowings 0 124,199 0
Repayments under shelf loan, term loan, and other borrowings (73,031) (21,457) (22,444)
Proceeds from issuance of convertible notes 0 460,000 0
Purchases of convertible note hedge contracts 0 (100,142) 0
Proceeds from issuance of warrants concurrent with note hedge contracts 0 48,484 0
Payment of debt issuance costs 0 (12,214) 0
Payment of dividends (102,726) (87,171) (70,401)
Payment of contingent consideration and holdbacks related to acquisitions (60,228) (22,830) (1,633)
Repurchases of common stock (24,054) 0 0
Other financing activities 1,469 1,972 (222)
Net cash flows (used in) provided by financing activities (374,871) 404,563 14,048
Effect of exchange rate changes on cash and cash equivalents (1,250) (697) 3,315
Net (decrease) increase in cash and cash equivalents (15,397) 11,075 16,462
Cash and cash equivalents at beginning of period 62,896 51,821 35,359
Cash and cash equivalents cash at end of period 47,499 62,896 51,821
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 25,052 15,429 16,910
Cash paid during the period for income taxes, net of refunds 170,012 94,075 33,247
Purchase of property and equipment in accrued expenses $ 1,730 $ 3,602 $ 2,739