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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net Income $ 471,792 $ 676,600
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Depreciation 23,355 23,172
Amortization 6,425 6,523
Share-based compensation 14,592 11,691
Equity in earnings of unconsolidated investments, net (235) (226)
Goodwill impairment 550 0
Other 1,157 12,644
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (110,078) (181,775)
Product inventories 330,850 (223,268)
Prepaid expenses and other assets (23,431) (31,171)
Accounts payable 20,667 46,564
Accrued expenses and other liabilities 14,374 (33,284)
Net Cash Provided by operating activities 750,018 307,470
Investing activities    
Acquisition of businesses, net of cash acquired (11,500) (8,309)
Purchases of property and equipment, net of sale proceeds (42,958) (27,965)
Other Investments (48) 1,760
Net cash used in investing activities (54,506) (34,514)
Financing activities    
Proceeds from revolving line of credit 1,154,601 1,629,740
Payments on revolving line of credit (1,497,501) (1,629,688)
Proceeds from term loan under credit facility 0 250,000
Payments on term loan under credit facility (6,250) 0
Proceeds from asset-backed financing 465,500 215,000
Payments on asset-backed financing (422,700) (130,000)
Payments on term facility (47,313) (6,937)
Proceeds from short-term borrowings and current portion of long-term debt 19,428 27,396
Payments on short-term borrowings and current portion of long-term debt (19,182) (26,960)
Payments of deferred financing costs 52 0
Payments of deferred and contingent acquisition consideration (551) (1,374)
Proceeds from stock issued under share-based compensation plans 9,278 7,201
Payments of cash dividends (124,983) (111,572)
Repurchases of common stock (187,110) (471,210)
Net cash (used in) provided by financing activities (656,835) (248,404)
Effect of exchange rate changes on cash and cash equivalents 952 206
Change in cash and cash equivalents 39,629 24,758
Cash and cash equivalents at beginning of period 45,591 24,321
Cash and cash equivalents at end of period $ 85,220 $ 49,079