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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income $ 367,094 $ 222,085
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 46,215 50,151
Provision for credit losses (36) 9,374
Stock-based compensation 53,150 22,351
Deferred income taxes (2,474) (729)
Excess tax benefit on stock-based compensation (9,367) (11,999)
Other operating activities 933 12,341
Changes in operating elements, net of acquisitions:    
Receivables (717,340) (48,937)
Contract assets (96,154) (22,451)
Prepaid expenses and other (38,971) 8,744
Accounts payable and outstanding checks 406,875 220,276
Accrued compensation 12,115 12,312
Accrued transportation expense 73,167 20,284
Accrued income taxes (4,431) 14,423
Other accrued liabilities 210 (6,345)
Other assets and liabilities 1,612 3,763
Net cash provided by operating activities 92,598 505,643
INVESTING ACTIVITIES    
Purchases of property and equipment (12,856) (11,621)
Purchases and development of software (16,981) (13,418)
Acquisitions, net of cash acquired (14,749) (223,230)
Other investing activities 0 5,525
Net cash used for investing activities (44,586) (242,744)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 36,674 20,295
Stock tendered for payment of withholding taxes (23,083) (14,966)
Repurchase of common stock (262,904) (68,563)
Cash dividends (139,756) (137,104)
Proceeds from short-term borrowings 1,661,000 979,600
Payments on short-term borrowings (1,390,038) (1,122,600)
Net cash used for financing activities (118,107) (343,338)
Effect of exchange rates on cash and cash equivalents (898) (5,183)
Net change in cash and cash equivalents (70,993) (85,622)
Cash and cash equivalents, beginning of period 243,796 447,858
Cash and cash equivalents, end of period $ 172,803 $ 362,236