XML 15 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net Income (Loss) $ 374,816 $ 397,025
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 30,438 26,848
Amortization 6,598 6,514
Share-based compensation 17,385 14,391
Equity in earnings of unconsolidated investments, net (56) (180)
Other 459 3,123
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (123,914) (80,362)
Product inventories 77,407 181,326
Prepaid expenses and other assets 73,226 57,151
Accounts payable (69,794) (109,021)
Accrued expenses and other liabilities (100,822) (8,196)
Net cash provided by operating activities 285,743 488,619
Investing activities    
Acquisition of businesses, net of cash acquired (7,116) (4,435)
Purchases of property and equipment, net of sale proceeds (48,123) (45,951)
Other investments, net (508) 944
Net cash used in investing activities (55,747) (49,442)
Financing activities    
Proceeds from revolving line of credit 1,417,100 1,146,900
Payments on revolving line of credit (1,390,400) (1,274,400)
Proceeds from term loan under credit facility 125,000 0
Payments on term loan under credit facility (87,500) (18,750)
Proceeds from asset-backed financing 437,600 623,900
Payments on asset-backed financing (370,400) (606,300)
Payments on term facility (19,938) 0
Proceeds from short-term borrowings and current portion of long-term debt 17,431 8,873
Payments on short-term borrowings and current portion of long-term debt (16,523) (8,643)
Payments of deferred financing costs (1,397) (1,731)
Proceeds from stock issued under share-based compensation plans 9,203 11,955
Payments of cash dividends (138,664) (134,181)
Repurchases of common stock (163,884) (159,408)
Net cash used in financing activities (182,372) (411,785)
Effect of exchange rate changes on cash and cash equivalents 2,997 (2,585)
Change in cash and cash equivalents 50,621 24,807
Cash and cash equivalents at beginning of period 77,862 66,540
Cash and cash equivalents at end of period $ 128,483 $ 91,347