XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 813.6 $ 808.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 205.8 202.6
Equity-based compensation expense 50.8 71.6
Deferred income taxes (27.0) (32.1)
Provision for credit losses 17.1 12.2
Other 3.3 22.9
Changes in assets and liabilities:    
Accounts receivable (320.9) 42.7
Merchandise inventory (10.5) 96.1
Other assets (313.9) 237.3
Accounts payable-trade 287.5 (273.3)
Other liabilities 226.2 (126.0)
Net cash provided by operating activities 932.0 1,062.2
Cash flows from investing activities:    
Capital expenditures (94.0) (114.7)
Purchases of short-term investments (211.1) 0.0
Acquisitions of businesses, net of cash acquired (0.2) (76.2)
Other (0.2) (5.0)
Net cash used in investing activities (305.5) (195.9)
Cash flows from financing activities:    
Proceeds from borrowings under revolving credit facility 0.0 207.6
Repayments of borrowings under revolving credit facility 0.0 (282.0)
Proceeds from issuance of long-term debt 1,197.8 0.0
Repayments of long-term debt 0.0 (100.0)
Payments to extinguish long-term debt (778.8) 0.0
Payments of debt issuance costs (10.4) 0.0
Repayments of receivable financing liability (29.8) (53.3)
Net change in accounts payable-inventory financing (73.9) 165.4
Repurchases of common stock (354.0) (450.0)
Proceeds from stock option exercises 41.6 32.5
Payment of incentive compensation plan withholding taxes (32.8) (38.6)
Dividend payments (249.0) (238.4)
Other 18.6 17.1
Net cash used in financing activities (270.7) (739.7)
Effect of exchange rate changes on cash and cash equivalents 2.2 (1.1)
Net increase in cash and cash equivalents 358.0 125.5
Cash and cash equivalents—beginning of period 588.7 315.2
Cash and cash equivalents—end of period 946.7 440.7
Supplementary disclosure of cash flow information:    
Interest paid (146.9) (141.2)
Income taxes paid, net $ (279.1) $ (285.1)