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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES      
Net income $ 325,129 $ 940,524 $ 844,245
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 98,985 92,776 91,259
Provision for credit losses (6,047) (4,476) 10,649
Stock-based compensation 58,169 90,677 129,977
Deferred income taxes (37,746) (58,566) (110,188)
Excess tax benefit on stock-based compensation (11,319) (13,662) (13,101)
Loss on disposal group held for sale 17,698 0 0
Other operating activities 5,541 (6,627) 1,915
Changes in operating elements, net of effects of acquisitions:      
Receivables 607,259 923,524 (1,547,545)
Contract assets 68,041 197,097 (257,728)
Prepaid expenses and other (39,048) (28,495) (43,819)
Right of use asset 19,255 (82,754) 25,498
Accounts payable and outstanding checks (200,843) (307,266) 660,028
Accrued compensation (108,084) 42,266 63,912
Accrued transportation expense (51,171) (143,686) 189,204
Accrued income taxes (2,284) (69,817) 72,665
Other accrued liabilities (11,991) 2,371 1,607
Lease liability (16,500) 83,084 (25,221)
Other assets and liabilities 16,902 (6,799) 1,598
Net cash provided by operating activities 731,946 1,650,171 94,955
INVESTING ACTIVITIES      
Purchases of property and equipment (29,989) (61,915) (34,197)
Purchases and development of software (54,122) (66,582) (36,725)
Acquisitions, net of cash acquired 0 0 (14,750)
Proceeds from sale of property and equipment 1,324 63,579 0
Net cash used for investing activities (82,787) (64,918) (85,672)
FINANCING ACTIVITIES      
Proceeds from stock issued for employee benefit plans 56,914 100,059 70,669
Stock tendered for payment of withholding taxes (25,294) (28,388) (26,720)
Repurchase of common stock (63,884) (1,459,900) (581,756)
Cash dividends (291,569) (285,317) (277,321)
Proceeds from long-term borrowings 0 200,000 300,000
Payments on long-term borrowings 0 0 (2,048)
Proceeds from short-term borrowings 3,893,750 4,500,000 3,728,000
Payments on short-term borrowings (4,287,750) (4,646,000) (3,203,251)
Net cash (used for) provided by financing activities (717,833) (1,619,546) 7,573
Effect of exchange rates on cash and cash equivalents (3,284) (5,638) (3,239)
Net change in cash and cash equivalents (71,958) (39,931) 13,617
Cash and cash equivalents, beginning of year 217,482 257,413 243,796
Cash and cash equivalents, end of year 145,524 217,482 257,413
Supplemental cash flow disclosures      
Cash paid for income taxes 155,936 429,096 227,427
Cash paid for interest 92,571 71,563 51,367
Accrued share repurchases held in other accrued liabilities $ 0 $ 1,106 $ 4,293