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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net Income $ 333,949 $ 486,544
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Depreciation 15,292 15,376
Amortization 4,237 4,358
Share-based compensation 9,996 7,571
Equity in earnings of unconsolidated investments, net (156) (136)
Other 3,563 7,185
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (276,945) (384,245)
Product inventories 201,380 (251,090)
Prepaid expenses and other assets (4,423) (20,573)
Accounts payable 76,140 208,017
Accrued expenses and other liabilities 13,744 (44,276)
Net Cash Provided by operating activities 376,777 28,731
Investing activities    
Acquisition of businesses, net of cash acquired (11,500) (7,629)
Purchases of property and equipment, net of sale proceeds (30,191) (19,802)
Other Investments (169) 0
Net cash used in investing activities (41,860) (27,431)
Financing activities    
Proceeds from revolving line of credit 698,795 1,122,186
Payments on revolving line of credit (1,001,399) (1,128,902)
Proceeds from Long-term Lines of Credit 0 250,000
Proceeds from asset-backed financing 388,900 215,000
Payments on asset-backed financing (240,200) (50,000)
Payments on term facility (47,313) (4,625)
Proceeds from short-term borrowings and current portion of long-term debt 17,859 24,767
Payments on short-term borrowings and current portion of long-term debt (19,182) (16,808)
Payments of deferred and contingent acquisition consideration (551) (1,374)
Proceeds from stock issued under share-based compensation plans 7,309 5,107
Payments of cash dividends (82,018) (72,028)
Purchases of treasury stock (50,742) (278,680)
Net cash (used in) provided by financing activities (328,542) 64,643
Effect of exchange rate changes on cash and cash equivalents 1,259 1,217
Change in cash and cash equivalents 7,634 67,160
Cash and cash equivalents at beginning of period 45,591 24,321
Cash and cash equivalents at end of period $ 53,225 $ 91,481