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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 703,696 $ 498,735 $ 323,172
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 31,683 28,127 25,908
Share-based compensation 28,821 25,365 22,129
Deferred income tax provision 13,466 5,939 40
Provision for doubtful accounts 8,539 6,888 2,688
Non-cash contribution to 401(k) plan 6,746 5,154 4,543
(Gain) loss on sale of property and equipment (1,624) 350 17
Other income from investment in unconsolidated entity (22,671) (19,299) (11,264)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable, net (60,154) (130,414) (3,559)
Inventories, net (259,860) (243,660) 139,929
Accounts payable and other liabilities 121,993 182,819 33,936
Other, net 1,329 (10,438) (3,160)
Net cash provided by operating activities 571,964 349,566 534,379
Cash flows from investing activities:      
Capital expenditures (35,652) (25,464) (16,436)
Business acquisitions, net of cash acquired (47) (129,462) 0
Proceeds from sale of equity securities 0 5,993 0
Other investment 0 (1,000) 0
Proceeds from sale of property and equipment 1,863 1,356 94
Net cash used in investing activities (33,836) (148,577) (16,342)
Cash flows from financing activities:      
Dividends on Common and Class B common stock (332,447) (294,522) (265,713)
Repurchases of common stock to satisfy employee withholding tax obligations (87,107) (1,092) (2,299)
Distributions to non-controlling interest (69,184) (61,980) (42,401)
Net (repayments) proceeds under revolving credit agreement (32,600) 89,000 (155,700)
Net repayments of finance lease liabilities (3,042) (2,040) (1,441)
Payment of fees related to revolving credit agreement 0 (22) (196)
Net proceeds from issuances of common stock 20,422 21,014 19,257
Net cash used in financing activities (503,958) (228,602) (448,493)
Effect of foreign exchange rate changes on cash and cash equivalents (4,933) (186) 2,069
Net increase (decrease) in cash and cash equivalents 29,237 (27,799) 71,613
Cash and cash equivalents at beginning of year 118,268 146,067 74,454
Cash and cash equivalents at end of year 147,505 118,268 146,067
TEC Distribution LLC [Member]      
Cash flows from financing activities:      
Proceeds from non-controlling interest for investments $ 0 $ 21,040 $ 0