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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net Income (Loss) $ 2,346,581 $ 2,172,650 $ 2,164,685
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and intangibles 409,061 357,933 328,217
Amortization of debt discount and issuance costs 4,954 4,704 4,388
Deferred income taxes 48,232 69,575 20,383
Share-based compensation programs 27,511 26,458 24,656
Other 2,116 885 2,128
Changes in operating assets and liabilities:      
Accounts receivable (35,539) (75,859) (47,427)
Inventory (288,323) (669,046) (32,634)
Accounts payable 207,061 1,184,858 510,911
Income taxes payable 33,889 151,063 152,339
Accrued payroll 11,234 19,300 18,714
Accrued benefits and withholdings (12,763) (60,072) 9,214
Other 280,070 (34,199) 51,736
Net cash provided by operating activities 3,034,084 3,148,250 3,207,310
Investing activities:      
Purchases of property and equipment (1,006,264) (563,342) (442,853)
Proceeds from sale of property and equipment 17,689 14,803 9,494
Investment in tax credit equity investments (4,150) (188,282) (180,333)
Other (3,211) (3,164) (1,928)
Net cash used in investing activities (995,936) (739,985) (615,620)
Financing activities:      
Proceeds from borrowings on revolving credit facility 3,227,000 785,800 0
Payments on revolving credit facility (3,227,000) (785,800) 0
Net proceeds from commercial paper 746,789 0 0
Proceeds from the issuance of long-term debt 749,655 847,314 0
Principal payments on long-term debt (300,000) (300,000) (300,000)
Payment of debt issuance costs (4,989) (6,591) (3,412)
Repurchases of common stock (3,151,155) (3,282,265) (2,476,048)
Net proceeds from issuance of common stock 91,316 79,356 84,915
Other (354) (350) (313)
Net cash used in financing activities (1,868,738) (2,662,536) (2,694,858)
Effect of exchange rate changes on cash 1,139 741 (359)
Net decrease in cash and cash equivalents 170,549 (253,530) (103,527)
Cash and cash equivalents at beginning of the period 108,583 362,113 465,640
Cash and cash equivalents at end of the period 279,132 108,583 362,113
Supplemental disclosures of cash flow information:      
Income taxes paid 315,060 415,165 450,935
Interest paid, net of capitalized interest $ 189,611 $ 155,853 $ 144,293