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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 481,880 $ 501,609
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 82,923 79,757
Amortization of debt discount and issuance costs 1,102 1,070
Deferred income taxes 5,031 10,551
Share-based compensation programs 6,533 6,292
Other 1,007 920
Changes in operating assets and liabilities:    
Accounts receivable (33,678) (37,917)
Inventory (158,387) 30,915
Accounts payable 247,280 134,091
Income taxes payable 138,228 138,196
Other (82,033) 25,188
Net cash provided by operating activities 689,886 890,672
Investing activities:    
Purchases of property and equipment (103,990) (94,879)
Proceeds from sale of property and equipment 3,157 2,097
Investment in tax credit equity investments (4,080) (6)
Other (68) (969)
Net cash used in investing activities (104,981) (93,757)
Financing activities:    
Repurchases of common stock (775,208) (664,548)
Net proceeds from issuance of common stock 19,939 13,557
Other (350) (313)
Net cash used in financing activities (755,619) (651,304)
Effect of exchange rate changes on cash 147 (371)
Net (decrease) increase in cash and cash equivalents (170,567) 145,240
Cash and cash equivalents at beginning of the period 362,113 465,640
Cash and cash equivalents at end of the period 191,546 610,880
Supplemental disclosures of cash flow information:    
Income taxes paid 8,584 5,567
Interest paid, net of capitalized interest $ 31,514 $ 37,485