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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:      
Net income $ 744,844 $ 582,131 $ 427,792
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 104,596 95,998 88,011
Impairment charge 5,148 2,501 968
Provision for uncollectible accounts 1,484 4,946 662
Deferred income taxes (3,377) (38,082) 6,162
Share-based compensation expense 37,755 30,951 39,278
Other 2,619 1,379 1,254
Changes in assets and liabilities:      
Accounts receivable (33,141) (60,722) (22,472)
Inventories (52,919) (18,885) (37,306)
Accounts payable 11,233 981 1,957
Deferred revenue (7,551) (13,373) (12,360)
Other assets and liabilities (55,145) 60,238 (34,788)
Net cash provided by operating activities 755,546 648,063 459,158
Cash Flows from Investing Activities:      
Purchases of property and equipment (119,549) (106,958) (154,969)
Acquisitions of intangible assets and equity investments 0 (918) (255)
Acquisitions of businesses, net of cash acquired (173,418) (1,500) (50,304)
Net cash used by investing activities (292,967) (109,376) (205,528)
Cash Flows from Financing Activities:      
Borrowings (repayments) on revolving credit facilities, net 73,500 (289,625) (110,275)
Issuance of senior notes 0 200,000 100,000
Payments of senior notes (50,000) 0 0
Debt issuance costs (2,650) (5,025) (154)
Purchase of minority interest (990) 0 0
Repurchases of common stock, net (746,777) (182,815) (301,658)
Proceeds from exercises of stock options and employee stock purchase plans 46,565 51,328 36,106
Payment of acquisition-related contingent consideration and holdbacks (1,500) (1,676) (2,375)
Shares withheld for statutory tax withholding payments on restricted stock (15,562) (20,603) (8,053)
Net cash used by financing activities (697,414) (248,416) (286,409)
Net effect of changes in exchange rates on cash (4,639) 3,331 (689)
Net (decrease) increase in cash and cash equivalents (239,474) 293,602 (33,468)
Cash and cash equivalents at beginning of period 383,928 90,326 123,794
Cash and cash equivalents at end of period $ 144,454 $ 383,928 $ 90,326