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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net Income $ 397,025 $ 471,792
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Depreciation 26,848 23,355
Amortization 6,514 6,425
Share-based compensation 14,391 14,592
Equity in earnings of unconsolidated investments, net (180) (235)
Goodwill impairment 0 550
Other 3,123 1,157
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (80,362) (110,078)
Product inventories 181,326 330,850
Prepaid expenses and other assets 57,151 (23,431)
Accounts payable (109,021) 20,667
Accrued expenses and other liabilities (8,196) 14,374
Net Cash Provided by operating activities 488,619 750,018
Investing activities    
Acquisition of businesses, net of cash acquired (4,435) (11,500)
Purchases of property and equipment, net of sale proceeds (45,951) (42,958)
Other Investments 944 (48)
Net cash used in investing activities (49,442) (54,506)
Financing activities    
Proceeds from revolving line of credit 1,146,900 1,154,601
Payments on revolving line of credit (1,274,400) (1,497,501)
Payments on term loan under credit facility (18,750) (6,250)
Proceeds from asset-backed financing 623,900 465,500
Payments on asset-backed financing (606,300) (422,700)
Payments on term facility 0 (47,313)
Proceeds from short-term borrowings and current portion of long-term debt 8,873 19,428
Payments on short-term borrowings and current portion of long-term debt (8,643) (19,182)
Payments of deferred financing costs 1,731 52
Payments of deferred and contingent acquisition consideration 0 (551)
Proceeds from stock issued under share-based compensation plans 11,955 9,278
Payments of cash dividends (134,181) (124,983)
Repurchases of common stock (159,408) (187,110)
Net cash (used in) provided by financing activities (411,785) (656,835)
Effect of exchange rate changes on cash and cash equivalents (2,585) 952
Change in cash and cash equivalents 24,807 39,629
Cash and cash equivalents at beginning of period 66,540 45,591
Cash and cash equivalents at end of period $ 91,347 $ 85,220