XML 19 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 230.1 $ 250.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70.7 71.4
Equity-based compensation expense 20.8 21.1
Deferred income taxes (10.9) (5.0)
Provision for credit losses 6.2 1.7
Other 3.4 4.8
Changes in assets and liabilities:    
Accounts receivable 208.9 (125.0)
Merchandise inventory 22.0 (130.3)
Other assets 102.5 24.3
Accounts payable-trade (248.7) 87.8
Other liabilities (39.6) 179.8
Net cash provided by operating activities 365.4 380.8
Cash flows from investing activities:    
Capital expenditures (31.7) (41.3)
Acquisitions of businesses, net of cash acquired (22.5) 0.0
Net cash used in investing activities (54.2) (41.3)
Cash flows from financing activities:    
Proceeds from borrowings under revolving credit facility 0.0 702.3
Repayments of borrowings under revolving credit facility (49.1) (895.2)
Repayments of long-term debt (50.0) (35.5)
Repayments of receivable financing liability (31.5) (28.7)
Net change in accounts payable-inventory financing 77.6 126.7
Repurchases of common stock (200.0) 0.0
Proceeds from stock option exercises 12.8 8.3
Payment of incentive compensation plan withholding taxes (31.6) (20.4)
Dividend payments (79.9) (67.5)
Other 3.5 1.9
Net cash used in financing activities (348.2) (208.1)
Effect of exchange rate changes on cash and cash equivalents 1.2 (2.6)
Net (decrease) increase in cash and cash equivalents (35.8) 128.8
Cash and cash equivalents—beginning of period 315.2 258.1
Cash and cash equivalents—end of period 279.4 386.9
Supplementary disclosure of cash flow information:    
Interest paid (24.9) (17.5)
Income taxes paid, net $ 21.5 $ (11.5)