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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 523,229,000 $ 748,462,000 $ 650,624,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 31,585,000 30,381,000 28,287,000
Amortization 8,555,000 8,644,000 1,739,000
Share-based compensation 19,582,000 14,879,000 15,187,000
Provisionfor doubtful accounts receivable, net of write-offs 2,197,000 3,580,000 1,134,000
Provision for inventory obsolescence, net of write-offs 1,930,000 5,869,000 3,798,000
Provision for deferred income taxes 10,359,000 15,169,000 4,650,000
Gains on sales of property and equipment (317,000) (527,000) (93,000)
Equity in earnings of unconsolidated investments, net (177,000) (353,000) (291,000)
Net gains (losses) on foreign currency transactions (813,000) 48,000 325,000
Goodwill impairment 550,000 605,000 0
Other 200,000 472,000 473,000
Changes in operating assets and liabilities, net of effects of acquisitions:      
Receivables 10,108,000 19,685,000 (79,940,000)
Product inventories 231,240,000 (263,567,000) (525,207,000)
Prepaid expenses and other assets 57,840,000 (52,815,000) (51,199,000)
Accounts payable 96,128,000 7,597,000 114,893,000
Accrued expenses and other current liabilities (103,967,000) (53,275,000) 149,110,000
Net cash provided by operating activities 888,229,000 484,854,000 313,490,000
Investing activities      
Acquisition of businesses, net of cash acquired (11,533,000) (9,264,000) (811,956,000)
Purchases of property and equipment, net of sale proceeds (60,096,000) (43,619,000) (37,658,000)
Other investments, net 32,000 2,013,000 0
Net cash used in investing activities (71,597,000) (50,870,000) (849,614,000)
Financing activities      
Proceeds from revolving line of credit 1,548,618,000 1,917,173,000 1,438,408,000
Payments on revolving line of credit (1,815,829,000) (1,970,388,000) (974,506,000)
Proceeds from term loan under credit facility 0 250,000,000 250,000,000
Payments on term loan under credit facility (12,500,000) 0 0
Proceeds from asset-backed financing 552,500,000 220,000,000 495,000,000
Payments on asset-backed financing (560,300,000) (205,500,000) (430,000,000)
Payments on Term Facility (47,313,000) (9,250,000) (9,250,000)
Proceeds from Short-Term Debt 19,998,000 28,445,000 9,279,000
Repayments of Short-Term Debt 19,338,000 27,675,000 9,377,000
Payments of deferred financing costs (52,000) (170,000) (2,638,000)
Payments of deferred and contingent acquisition consideration (551,000) (1,374,000) (362,000)
Proceeds from stock issued under share-based compensation plans 10,455,000 8,934,000 17,197,000
Payments of cash dividends (167,461,000) (150,624,000) (119,581,000)
Repurchase of common stock (306,359,000) (471,229,000) (138,039,000)
Net cash provided by (used in) financing activities (798,132,000) (411,658,000) 526,131,000
Effect of exchange rate changes on cash and cash equivalents 2,449,000 (1,056,000) 186,000
Change in cash and cash equivalents 20,949,000 21,270,000 (9,807,000)
Cash and cash equivalents at beginning of year 45,591,000 24,321,000 34,128,000
Cash and cash equivalents at end of year $ 66,540,000 $ 45,591,000 $ 24,321,000