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Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 335,774 $ 360,396
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 16,615 15,376
Share-based compensation 13,529 14,961
Provision for doubtful accounts 1,405 4,139
Deferred income tax provision 3,442 4,098
Other income from investment in unconsolidated entity (10,878) (10,362)
Other, net 8,381 6,853
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable, net (243,440) (289,478)
Inventories, net (313,634) (366,359)
Accounts payable and other liabilities 103,442 332,217
Other, net (3,815) 1,231
Net cash (used in) provided by operating activities (89,179) 73,072
Cash flows from investing activities:    
Capital expenditures (15,831) (18,952)
Business acquisitions, net of cash acquired (2,989) (47)
Proceeds from sale of property and equipment 1,232 111
Net cash used in investing activities (17,588) (18,888)
Cash flows from financing activities:    
Net proceeds under current revolving credit agreement 342,900 0
Net proceeds from the sale of Common stock 15,179 0
Net proceeds from issuances of Common stock under employee-related plans 13,827 8,228
Payment of fees related to revolving credit agreement (580) 0
Net repayments of finance lease liabilities (1,795) (1,437)
Repurchases of common stock to satisfy employee withholding tax obligations (2,254) (2,179)
Net (repayments) proceeds under prior revolving credit agreement (56,400) 114,600
Dividends on Common and Class B common stock (190,409) (161,484)
Net cash provided by (used in) financing activities 120,468 (42,272)
Effect of foreign exchange rate changes on cash and cash equivalents 1,320 (1,131)
Net increase in cash and cash equivalents 15,021 10,781
Cash and cash equivalents at beginning of period 147,505 118,268
Cash and cash equivalents at end of period $ 162,526 $ 129,049