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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 2,386,680 $ 2,346,581 $ 2,172,650
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and intangibles 461,892 409,061 357,933
Amortization of debt discount and issuance costs 6,613 4,954 4,704
Deferred income taxes (50,238) 48,232 69,575
Share-based compensation programs 28,931 27,511 26,458
Other 6,360 2,116 885
Changes in operating assets and liabilities:      
Accounts receivable 30,495 (35,539) (75,859)
Inventory (403,886) (288,323) (669,046)
Accounts payable 421,364 207,061 1,184,858
Income taxes payable (8,690) 33,889 151,063
Accrued payroll (30,810) 11,234 19,300
Accrued benefits and withholdings 71,128 (12,763) (60,072)
Other 129,737 280,070 (34,199)
Net cash provided by operating activities 3,049,576 3,034,084 3,148,250
Investing activities:      
Purchases of property and equipment (1,023,387) (1,006,264) (563,342)
Proceeds from sale of property and equipment 16,350 17,689 14,803
Return of (investment in) tax credit equity investments 1,490 (4,150) (188,282)
Other, including acquisitions, net of cash acquired (161,258) (3,211) (3,164)
Net cash used in investing activities (1,166,805) (995,936) (739,985)
Financing activities:      
Proceeds from borrowings on revolving credit facility 30,000 3,227,000 785,800
Payments on revolving credit facility (30,000) (3,227,000) (785,800)
Net (payments) proceeds of commercial paper (547,604) 746,789 0
Proceeds from the issuance of long-term debt 498,910 749,655 847,314
Principal payments on long-term debt 0 (300,000) (300,000)
Payment of debt issuance costs (4,076) (4,989) (6,591)
Payment of excise tax on share repurchases (28,830) 0 0
Repurchases of common stock (2,076,529) (3,151,155) (3,282,265)
Net proceeds from issuance of common stock 128,981 91,316 79,356
Other (569) (354) (350)
Net cash used in financing activities (2,029,717) (1,868,738) (2,662,536)
Effect of exchange rate changes on cash (1,941) 1,139 741
Net (decrease) increase in cash and cash equivalents (148,887) 170,549 (253,530)
Cash and cash equivalents at beginning of the period 279,132 108,583 362,113
Cash and cash equivalents at end of the period 130,245 279,132 108,583
Supplemental disclosures of cash flow information:      
Income taxes paid 640,426 315,060 415,165
Interest paid, net of capitalized interest $ 209,094 $ 189,611 $ 155,853