XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net Income $ 486,544 $ 358,350
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Depreciation 15,376 13,884
Amortization 4,358 723
Share-based compensation 7,571 7,549
Equity in earnings of unconsolidated investments, net (136) (132)
Other 7,185 4,812
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (384,245) (295,342)
Product inventories (251,090) (114,792)
Prepaid expenses and other assets (20,573) (16,865)
Accounts payable 208,017 170,368
Accrued expenses and other current liabilities (44,276) 58,673
Net Cash Provided by operating activities 28,731 187,228
Investing activities    
Acquisition of businesses, net of cash acquired (7,629) (15,162)
Purchases of property and equipment, net of sale proceeds (19,802) (17,333)
Net cash used in investing activities (27,431) (32,495)
Financing activities    
Proceeds from revolving line of credit 1,122,186 549,008
Payments on revolving line of credit (1,128,902) (505,636)
Proceeds from Long-term Lines of Credit 250,000 0
Proceeds from asset-backed financing 215,000 260,000
Payments on asset-backed financing (50,000) (290,000)
Payments on term facility (4,625) (4,625)
Proceeds from short-term borrowings and current portion of long-term debt 24,767 4,466
Payments on short-term borrowings and current portion of long-term debt (16,808) (6,277)
Payments of deferred and contingent acquisition consideration (1,374) (362)
Proceeds from stock issued under share-based compensation plans 5,107 7,918
Payments of cash dividends (72,028) (55,418)
Purchases of treasury stock (278,680) (90,135)
Net cash used in financing activities 64,643 (131,061)
Effect of exchange rate changes on cash and cash equivalents 1,217 665
Change in cash and cash equivalents 67,160 24,337
Cash and cash equivalents at beginning of period 24,321 34,128
Cash and cash equivalents at end of period $ 91,481 $ 58,465