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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 1,359,357 $ 1,066,126
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 231,510 200,382
Amortization of debt discount and issuance costs 3,300 2,898
Deferred income taxes 32,249 12,383
Share-based compensation programs 17,062 16,578
Other 2,576 5,830
Changes in operating assets and liabilities:    
Accounts receivable (34,970) (38,892)
Inventory (76,239) (154,986)
Accounts payable 481,431 228,943
Income taxes payable 123,581 90,383
Other 209,272 60,031
Net cash provided by operating activities 2,349,129 1,489,676
Investing activities:    
Purchases of property and equipment (363,425) (481,207)
Proceeds from sale of property and equipment 11,690 5,479
Investment in tax credit equity investments (95,292) (17,988)
Other (312) 661
Net cash used in investing activities (447,339) (493,055)
Financing activities:    
Proceeds from borrowings on revolving credit facility 1,162,000 2,192,000
Payments on revolving credit facility (1,423,000) (2,404,000)
Proceeds from the issuance of long-term debt 997,515 499,955
Payment of debt issuance costs (7,779) (3,991)
Repurchases of common stock (1,094,000) (1,307,983)
Net proceeds from issuance of common stock 51,174 39,077
Other (253) (190)
Net cash used in financing activities (314,343) (985,132)
Effect of exchange rate changes on cash (755) 0
Net increase in cash and cash equivalents 1,586,692 11,489
Cash and cash equivalents at beginning of the period 40,406 31,315
Cash and cash equivalents at end of the period 1,627,098 42,804
Supplemental disclosures of cash flow information:    
Income taxes paid 250,484 218,386
Interest paid, net of capitalized interest $ 118,397 $ 110,014