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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net Income $ 179,261 $ 98,655
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Depreciation 7,663 6,884
Amortization 2,192 421
Share-based compensation 3,657 3,837
Equity in earnings of unconsolidated investments, net (58) (75)
Other 5,777 2,723
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (303,400) (199,672)
Product inventories (306,582) (200,185)
Prepaid expenses and other assets (23,330) (5,507)
Accounts payable 287,449 369,665
Accrued expenses and other current liabilities (60,738) 367
Net Cash Provided by operating activities (208,109) 77,113
Investing activities    
Acquisition of businesses, net of cash acquired 0 (683)
Purchases of property and equipment, net of sale proceeds (9,159) (8,839)
Net cash used in investing activities (9,159) (9,522)
Financing activities    
Proceeds from revolving line of credit 564,288 342,500
Payments on revolving line of credit (604,960) (308,656)
Proceeds from Long-term Lines of Credit 250,000 0
Proceeds from asset-backed financing 155,000 110,000
Payments on asset-backed financing (50,000) (125,000)
Payments on term facility (2,313) (2,313)
Proceeds from short-term borrowings and current portion of long-term debt 10,277 4,280
Payments on short-term borrowings and current portion of long-term debt (784) (3,740)
Payments of deferred and contingent acquisition consideration (1,374) (362)
Proceeds from stock issued under share-based compensation plans 3,135 2,912
Payments of cash dividends (32,132) (23,299)
Purchases of treasury stock (62,420) (71,516)
Net cash used in financing activities 228,717 (75,194)
Effect of exchange rate changes on cash and cash equivalents (405) 553
Change in cash and cash equivalents 11,044 (7,050)
Cash and cash equivalents at beginning of period 24,321 34,128
Cash and cash equivalents at end of period $ 35,365 $ 27,078