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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 2,164,685 $ 1,752,302 $ 1,391,042
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and intangibles 328,217 314,635 270,875
Amortization of debt discount and issuance costs 4,388 4,580 3,916
Deferred income taxes 20,383 12,381 21,158
Share-based compensation programs 24,656 22,747 21,921
Other 2,128 4,686 7,529
Changes in operating assets and liabilities:      
Accounts receivable (47,427) (20,515) (15,577)
Inventory (32,634) (198,864) (239,912)
Accounts payable 510,911 580,608 213,423
Income taxes payable 152,339 197,739 (20,139)
Accrued payroll 18,714 (11,941) 14,296
Accrued benefits and withholdings 9,214 189,332 16,868
Other 51,736 (11,087) 23,079
Net cash provided by operating activities 3,207,310 2,836,603 1,708,479
Investing activities:      
Purchases of property and equipment (442,853) (465,579) (628,057)
Proceeds from sale of property and equipment 9,494 15,770 7,118
Investment in tax credit equity investments (180,333) (164,111) (33,781)
Other (1,928) (975) (142,026)
Net cash used in investing activities (615,620) (614,895) (796,746)
Financing activities:      
Proceeds from borrowings on revolving credit facility 0 1,162,000 2,708,000
Payments on revolving credit facility 0 (1,423,000) (2,734,000)
Proceeds from the issuance of long-term debt 0 997,515 499,955
Principal payments on long-term debt (300,000) (500,000) 0
Payment of debt issuance costs (3,412) (7,929) (3,990)
Repurchases of common stock (2,476,048) (2,087,194) (1,432,791)
Net proceeds from issuance of common stock 84,915 62,284 60,206
Other (313) (253) (191)
Net cash used in financing activities (2,694,858) (1,796,577) (902,811)
Effect of exchange rate changes on cash (359) 103 169
Net (decrease) increase in cash and cash equivalents (103,527) 425,234 9,091
Cash and cash equivalents at beginning of the period 465,640 40,406 31,315
Cash and cash equivalents at end of the period 362,113 465,640 40,406
Supplemental disclosures of cash flow information:      
Income taxes paid 450,935 305,087 394,931
Interest paid, net of capitalized interest $ 144,293 $ 159,717 $ 134,634