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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 516,885 $ 481,880
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 93,747 82,923
Amortization of debt discount and issuance costs 1,215 1,102
Deferred income taxes 3,393 5,031
Share-based compensation programs 7,435 6,533
Other 29 1,007
Changes in operating assets and liabilities:    
Accounts receivable (2,610) (33,678)
Inventory (179,481) (158,387)
Accounts payable 172,701 247,280
Income taxes payable 145,441 138,228
Other (44,991) (82,033)
Net cash provided by operating activities 713,764 689,886
Investing activities:    
Purchases of property and equipment (223,268) (103,990)
Proceeds from sale of property and equipment 2,704 3,157
Investment in tax credit equity investments 0 (4,080)
Other (956) (68)
Net cash used in investing activities (221,520) (104,981)
Financing activities:    
Proceeds from borrowings on revolving credit facility 1,216,000 0
Payments on revolving credit facility (661,000) 0
Repurchases of common stock (1,111,461) (775,208)
Net proceeds from issuance of common stock 15,146 19,939
Other (354) (350)
Net cash used in financing activities (541,669) (755,619)
Effect of exchange rate changes on cash 714 147
Net decrease in cash and cash equivalents (48,711) (170,567)
Cash and cash equivalents at beginning of the period 108,583 362,113
Cash and cash equivalents at end of the period 59,872 191,546
Supplemental disclosures of cash flow information:    
Income taxes paid 9,696 8,584
Interest paid, net of capitalized interest $ 26,531 $ 31,514