XML 16 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income $ 255,374 $ 212,864
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 52,778 54,950
Amortization of debt discount and issuance costs 546 525
Excess tax benefit from share-based compensation (14,762) (21,188)
Deferred income taxes (3,322) (4,441)
Share-based compensation programs 5,178 5,890
Other 1,481 1,355
Changes in operating assets and liabilities:    
Accounts receivable (19,206) (19,867)
Inventory (70,745) 26,807
Accounts payable 174,378 53,582
Income taxes payable 127,638 117,221
Other (21,183) (21,673)
Net cash provided by operating activities 488,155 406,025
Investing activities:    
Purchases of property and equipment (103,974) (91,140)
Proceeds from sale of property and equipment 864 658
Payments received on notes receivable 1,047 935
Net cash used in investing activities (102,063) (89,547)
Financing activities:    
Proceeds from the issuance of long-term debt 499,160 0
Payments of debt issuance costs (3,725) 0
Principal payments on capital leases 0 (19)
Repurchases of common stock (312,656) (134,813)
Excess tax benefit from share-based compensation 14,762 21,188
Net proceeds from issuance of common stock 16,074 20,252
Net cash provided by (used in) financing activities 213,615 (93,392)
Net increase in cash and cash equivalents 599,707 223,086
Cash and cash equivalents at beginning of the period 116,301 [1] 250,560
Cash and cash equivalents at end of the period 716,008 473,646
Supplemental disclosures of cash flow information:    
Income taxes paid 23,765 8,675
Interest paid, net of capitalized interest $ 23,063 $ 23,435
[1] The balance sheet at December 31, 2015, has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.