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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net Income $ 271,324 $ 333,949
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Depreciation 17,591 15,292
Amortization 4,201 4,237
Share-based compensation 10,344 9,996
Equity in earnings of unconsolidated investments, net (117) (156)
Other (1,246) 3,563
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (232,647) (276,945)
Product inventories 66,975 201,380
Prepaid expenses and other assets 38,231 (4,423)
Accounts payable 6,166 76,140
Accrued expenses and other liabilities (8,720) 13,744
Net Cash Provided by operating activities 172,102 376,777
Investing activities    
Acquisition of businesses, net of cash acquired (4,435) (11,500)
Purchases of property and equipment, net of sale proceeds (34,928) (30,191)
Other Investments 1,018 (169)
Net cash used in investing activities (38,345) (41,860)
Financing activities    
Proceeds from revolving line of credit 756,300 698,795
Payments on revolving line of credit (830,400) (1,001,399)
Proceeds from asset-backed financing 467,000 388,900
Payments on asset-backed financing (324,000) (240,200)
Payments on term facility (12,500) (47,313)
Proceeds from short-term borrowings and current portion of long-term debt 8,085 17,859
Payments on short-term borrowings and current portion of long-term debt (1,562) (19,182)
Payments of deferred and contingent acquisition consideration 0 (551)
Proceeds from stock issued under share-based compensation plans 9,826 7,309
Payments of cash dividends (88,287) (82,018)
Repurchases of common stock (84,496) (50,742)
Net cash (used in) provided by financing activities (100,034) (328,542)
Effect of exchange rate changes on cash and cash equivalents (3,369) 1,259
Change in cash and cash equivalents 30,354 7,634
Cash and cash equivalents at beginning of period 66,540 45,591
Cash and cash equivalents at end of period $ 96,894 $ 53,225