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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 321,152 $ 304,906
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 63,964 69,920
Amortization of debt discount and issuance costs 918 795
Deferred income taxes 4,312 4,370
Share-based compensation programs 5,424 5,176
Other 2,245 2,244
Changes in operating assets and liabilities:    
Accounts receivable (60,914) (10,421)
Inventory (35,405) (42,643)
Accounts payable 60,918 32,756
Income taxes payable 82,476 79,380
Other (4,468) (14,206)
Net cash provided by operating activities 440,622 432,277
Investing activities:    
Purchases of property and equipment (152,914) (114,843)
Proceeds from sale of property and equipment 1,811 752
Other (295) (375)
Net cash used in investing activities (151,398) (114,466)
Financing activities:    
Proceeds from borrowings on revolving credit facility 874,000 755,000
Payments on revolving credit facility (831,000) (541,000)
Repurchases of common stock (321,856) (549,450)
Net proceeds from issuance of common stock 15,224 11,972
Other (190) (2,156)
Net cash used in financing activities (263,822) (325,634)
Net increase (decrease) in cash and cash equivalents 25,402 (7,823)
Cash and cash equivalents at beginning of the period 31,315 [1] 46,348
Cash and cash equivalents at end of the period 56,717 38,525
Supplemental disclosures of cash flow information:    
Income taxes paid 5,335 7,939
Interest paid, net of capitalized interest $ 47,796 $ 48,763
[1] The balance sheet at December 31, 2018, 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.