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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 1,207,080 $ 1,170,086
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 247,159 222,885
Amortization of debt discount and issuance costs 3,667 3,201
Deferred income taxes (36,679) 18,175
Share-based compensation programs 18,812 14,229
Other 7,945 5,215
Changes in operating assets and liabilities:    
Accounts receivable (73,966) (79,475)
Inventory (280,899) (85,137)
Accounts payable 331,082 117,582
Income taxes payable 314,779 81,228
Other (227,014) 185,085
Net cash provided by operating activities 1,511,966 1,653,074
Investing activities:    
Purchases of property and equipment (587,685) (474,607)
Proceeds from sale of property and equipment 2,695 7,528
Other, including acquisitions, net of cash acquired (10,008) (155,376)
Net cash used in investing activities (594,998) (622,455)
Financing activities:    
Proceeds from borrowings on revolving credit facility 0 30,000
Payments on revolving credit facility 0 (30,000)
Net proceeds (payment) of commercial paper 298,918 (173,500)
Payment of debt issuance costs (3,815) 0
Payment of excise tax on share repurchases (17,012) 0
Repurchases of common stock (1,176,640) (1,063,791)
Net proceeds from issuance of common stock 48,167 73,790
Other (433) (569)
Net cash used in financing activities (850,815) (1,164,070)
Effect of exchange rate changes on cash 2,215 (639)
Net increase (decrease) in cash and cash equivalents 68,368 (134,090)
Cash and cash equivalents at beginning of the period 130,245 279,132
Cash and cash equivalents at end of the period 198,613 145,042
Supplemental disclosures of cash flow information:    
Income taxes paid 393,872 80,401
Interest paid, net of capitalized interest $ 110,374 $ 110,449