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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 1,645,712 $ 1,359,357
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 237,654 231,510
Amortization of debt discount and issuance costs 3,294 3,300
Deferred income taxes 18,053 32,249
Share-based compensation programs 18,544 17,062
Other 1,803 2,576
Changes in operating assets and liabilities:    
Accounts receivable (56,743) (34,970)
Inventory 6,420 (76,239)
Accounts payable 424,710 481,431
Income taxes payable 141,273 123,581
Other 124,607 209,272
Net cash provided by operating activities 2,565,327 2,349,129
Investing activities:    
Purchases of property and equipment (340,687) (363,425)
Proceeds from sale of property and equipment 6,643 11,690
Investment in tax credit equity investments (1,795) (95,292)
Other (1,897) (312)
Net cash used in investing activities (337,736) (447,339)
Financing activities:    
Proceeds from borrowings on revolving credit facility 0 1,162,000
Payments on revolving credit facility 0 (1,423,000)
Proceeds from the issuance of long-term debt 0 997,515
Principal payments on long-term debt (300,000) 0
Payment of debt issuance costs (3,404) (7,779)
Repurchases of common stock (2,007,161) (1,094,000)
Net proceeds from issuance of common stock 67,361 51,174
Other (313) (253)
Net cash used in financing activities (2,243,517) (314,343)
Effect of exchange rate changes on cash (412) (755)
Net (decrease) increase in cash and cash equivalents (16,338) 1,586,692
Cash and cash equivalents at beginning of the period 465,640 40,406
Cash and cash equivalents at end of the period 449,302 1,627,098
Supplemental disclosures of cash flow information:    
Income taxes paid 333,360 250,484
Interest paid, net of capitalized interest $ 107,971 $ 118,397