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Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 266,695 $ 251,369
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,350 17,983
Share-based compensation 15,802 11,992
Non-cash contribution to 401(k) plan 4,543 4,274
Deferred income tax provision 3,177 2,765
Other income from investment in unconsolidated entity (9,172) (7,939)
Other, net 1,776 1,260
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (113,017) (102,813)
Inventories 34,448 (74,448)
Accounts payable and other liabilities 158,094 99,627
Other, net (8,918) (6,539)
Net cash provided by operating activities 372,778 197,531
Cash flows from investing activities:    
Capital expenditures (11,608) (14,007)
Business acquisitions, net of cash acquired   (47,343)
Investment in unconsolidated entity   (4,940)
Proceeds from sale of property and equipment 61 1,295
Net cash used in investing activities (11,547) (64,995)
Cash flows from financing activities:    
Dividends on Common and Class B common stock (197,454) (180,454)
Net (repayments) proceeds under revolving credit agreement (155,032) 34,100
Repurchases of common stock to satisfy employee withholding tax obligations (2,299) (1,528)
Net repayments of long-term obligations (1,003) (920)
Payment of fees related to revolving credit agreement (189)  
Proceeds from non-controlling interest for investment in unconsolidated entity   988
Purchase of additional ownership from non-controlling interest   (32,400)
Proceeds from non-controlling interest for investment in Peirce-Phelps, Inc   17,000
Net proceeds from issuances of common stock 13,207 7,480
Net cash used in financing activities (342,770) (155,734)
Effect of foreign exchange rate changes on cash and cash equivalents (315) 454
Net increase (decrease) in cash and cash equivalents 18,146 (22,744)
Cash and cash equivalents at beginning of period 74,454 82,894
Cash and cash equivalents at end of period $ 92,600 60,150
Peirce-Phelps, Inc.    
Supplemental cash flow information:    
Common stock issued   58,638
Dunphey & Associates Supply Co., Inc.    
Supplemental cash flow information:    
Common stock issued   $ 7,450