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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net Income (Loss) $ 1,794,077 $ 1,644,078
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 296,583 258,048
Amortization of debt discount and issuance costs 3,597 3,490
Deferred income taxes 35,982 42,673
Share-based compensation programs 21,948 18,913
Other 3,574 716
Changes in operating assets and liabilities:    
Accounts receivable (58,658) (69,965)
Inventory (263,896) (450,991)
Accounts payable 315,910 878,501
Income taxes payable 353,366 73,853
Other 15,172 (46,296)
Net cash provided by operating activities 2,517,655 2,353,020
Investing activities:    
Purchases of property and equipment (753,958) (388,820)
Proceeds from sale of property and equipment 10,461 10,829
Investment in tax credit equity investments (4,150) (5,262)
Other (2,126) (448)
Net cash used in investing activities (749,773) (383,701)
Financing activities:    
Proceeds from borrowings on revolving credit facility 3,227,000 785,800
Payments on revolving credit facility (3,227,000) (785,800)
Net proceeds from commercial paper 1,025,075 0
Proceeds from the issuance of long-term debt 0 847,314
Principal payments on long-term debt (300,000) (300,000)
Payment of debt issuance costs (39) (6,442)
Repurchases of common stock (2,590,980) (2,861,557)
Net proceeds from issuance of common stock 71,604 56,575
Other (354) (350)
Net cash used in financing activities (1,794,694) (2,264,460)
Effect of exchange rate changes on cash 893 88
Net decrease in cash and cash equivalents (25,919) (295,053)
Cash and cash equivalents at beginning of the period 108,583 362,113
Cash and cash equivalents at end of the period 82,664 67,060
Supplemental disclosures of cash flow information:    
Income taxes paid 147,128 392,490
Interest paid, net of capitalized interest $ 127,085 $ 99,674