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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2021
USD ($)
shares
Dec. 31, 2020
USD ($)
shares
Dec. 31, 2019
USD ($)
shares
Proceeds from Term Facility $ 0 $ 0 $ 185,000
Common stock, outstanding (in shares) | shares 40,192,901 40,232,210  
Stockholders' Equity Attributable to Parent $ 1,071,393 $ 639,470 410,180
Net income 650,624 366,738 261,575
Operating activities      
Net income 650,624 366,738 261,575
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 28,287 27,967 27,885
Amortization 1,739 1,431 1,389
Share-based compensation 15,187 14,516 13,472
Provision (benefit) for doubtful accounts receivable, net of write-offs 1,134 (664) (710)
Provision for inventory obsolescence, net of write-offs 3,798 2,362 1,310
(Benefit) provision for deferred income taxes 4,650 (2,542) 3,723
Losses (gains) on sales of property and equipment (93) 38 (85)
Equity earnings in unconsolidated investments, net (291) (295) (262)
Net losses on foreign currency transactions 325 1,748 1,347
(Recovery) impairment of goodwill and other assets 0 6,944 0
Other 473 410 3,313
Changes in operating assets and liabilities, net of effects of acquisitions:      
Receivables (79,940) (38,688) (15,691)
Product inventories (525,207) (42,447) (14,165)
Prepaid expenses and other assets (51,199) (13,744) (4,218)
Accounts payable 114,893 (9,212) 16,860
Accrued expenses and other current liabilities 149,110 83,019 3,033
Net cash provided by operating activities 313,490 397,581 298,776
Investing activities      
Acquisition of businesses, net of cash acquired (811,956) (124,587) (8,901)
Purchases of property and equipment, net of sale proceeds (37,658) (21,702) (33,362)
Net cash used in investing activities (849,614) (146,289) (42,263)
Financing activities      
Proceeds from revolving line of credit 1,438,408 1,053,968 1,066,529
Payments on revolving line of credit (974,506) (1,145,616) (1,415,988)
Proceeds from Long-term Lines of Credit 250,000 0 0
Proceeds from asset-backed financing 495,000 326,700 189,000
Payments on asset-backed financing (430,000) (321,700) (182,500)
Proceeds from Term Facility 0 0 185,000
Payments on Term Facility (9,250) (9,250) 0
Proceeds from short-term borrowings and current portion of long-term debt 9,279 13,822 30,863
Payments on short-term borrowings and current portion of long-term debt (9,377) (13,698) (28,286)
Payments on deferred and contingent acquisition consideration (362) (281) (312)
Payments of deferred financing costs (2,638) (12) (406)
Proceeds from stock issued under share-based compensation plans 17,197 19,824 18,574
Payments of cash dividends (119,581) (91,929) (83,772)
Purchases of treasury stock (138,039) (76,199) (23,188)
Net cash provided by (used in) financing activities 526,131 (244,371) (244,486)
Effect of exchange rate changes on cash and cash equivalents 186 (1,376) 198
Change in cash and cash equivalents (9,807) 5,545 12,225
Cash and cash equivalents at beginning of year 34,128 28,583 16,358
Cash and cash equivalents at end of year $ 24,321 $ 34,128 $ 28,583
Common Stock [Member]      
Common stock, outstanding (in shares) | shares 40,193,000 40,232,000 40,074,000
Stockholders' Equity Attributable to Parent $ 40 $ 40 $ 40
Net income 0 0 0
Operating activities      
Net income 0 0 0
Additional Paid-in Capital [Member]      
Stockholders' Equity Attributable to Parent 551,963 519,579 485,239
Net income 0 0 0
Operating activities      
Net income 0 0 0
Retained Deficit [Member]      
Stockholders' Equity Attributable to Parent 526,874 133,870 (64,740)
Net income 650,624 366,738 261,575
Operating activities      
Net income 650,624 366,738 261,575
Accumulated Other Comprehensive Income (Loss) [Member]      
Stockholders' Equity Attributable to Parent (7,484) (14,019) (10,359)
Net income 0 0 0
Operating activities      
Net income $ 0 $ 0 $ 0