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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income $ 1,133,804 $ 1,037,691 $ 931,216
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and intangibles 233,845 217,866 210,256
Amortization of debt discount and issuance costs 2,871 2,451 2,106
Deferred income taxes (4,593) 10,394 (22,650)
Share-based compensation programs 19,401 18,859 21,899
Other 11,790 6,434 6,839
Changes in operating assets and liabilities:      
Accounts receivable (27,742) (38,548) (23,858)
Inventory (231,802) (119,270) (76,226)
Accounts payable 253,265 322,427 191,064
Income taxes payable 14,220 26,880 81,617
Accrued payroll 5,430 12,616 (19,341)
Accrued benefits and withholdings 3,042 (256) 18,904
Other (9,844) 13,169 [1] 23,662 [1]
Net cash provided by operating activities 1,403,687 1,510,713 [1] 1,345,488 [1]
Investing activities:      
Purchases of property and equipment (465,940) (476,344) (414,020)
Proceeds from sale of property and equipment 4,464 5,119 2,758
Payments received on notes receivable 0 1,047 4,074
Other (2,747) (58,918) 0
Net cash used in investing activities (464,223) (529,096) (407,188)
Financing activities:      
Proceeds from borrowings on revolving credit facility 3,101,000 0 0
Payments on revolving credit facility (2,755,000) 0 0
Proceeds from the issuance of long-term debt 748,800 499,160 0
Payment of debt issuance costs (7,590) (4,125) 0
Principal payments on capital leases 0 0 (25)
Repurchases of common stock (2,172,530) (1,505,437) (1,136,213)
Net proceeds from issuance of common stock 45,762 59,634 64,613
Other (156) (552) [1] (934) [1]
Net cash used in financing activities (1,039,714) (951,320) [1] (1,072,559) [1]
Net (decrease) increase in cash and cash equivalents (100,250) 30,297 (134,259)
Cash and cash equivalents at beginning of the year 146,598 116,301 250,560
Cash and cash equivalents at end of the year 46,348 146,598 116,301
Supplemental disclosures of cash flow information:      
Income taxes paid 496,728 569,677 485,824
Interest paid, net of capitalized interest $ 77,766 $ 63,648 $ 55,061
[1] Certain prior period amounts have been reclassified to conform to current period presentation. See Note 1 “Summary of Significant Accounting Policies” to the Consolidated Financial Statements for more information.