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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 1,644,078 $ 1,645,712
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 258,048 237,654
Amortization of debt discount and issuance costs 3,490 3,294
Deferred income taxes 42,673 18,053
Share-based compensation programs 18,913 18,544
Other 716 1,803
Changes in operating assets and liabilities:    
Accounts receivable (69,965) (56,743)
Inventory (450,991) 6,420
Accounts payable 878,501 424,710
Income taxes payable 73,853 141,273
Other (46,296) 124,607
Net cash provided by operating activities 2,353,020 2,565,327
Investing activities:    
Purchases of property and equipment (388,820) (340,687)
Proceeds from sale of property and equipment 10,829 6,643
Investment in tax credit equity investments (5,262) (1,795)
Other (448) (1,897)
Net cash used in investing activities (383,701) (337,736)
Financing activities:    
Proceeds from borrowings on revolving credit facility 785,800 0
Payments on revolving credit facility (785,800) 0
Proceeds from the issuance of long-term debt 847,314 0
Principal payments on long-term debt (300,000) (300,000)
Payment of debt issuance costs (6,442) (3,404)
Repurchases of common stock (2,861,557) (2,007,161)
Net proceeds from issuance of common stock 56,575 67,361
Other (350) (313)
Net cash used in financing activities (2,264,460) (2,243,517)
Effect of exchange rate changes on cash 88 (412)
Net decrease in cash and cash equivalents (295,053) (16,338)
Cash and cash equivalents at beginning of the period 362,113 465,640
Cash and cash equivalents at end of the period 67,060 449,302
Supplemental disclosures of cash flow information:    
Income taxes paid 392,490 333,360
Interest paid, net of capitalized interest $ 99,674 $ 107,971