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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES      
Net income $ 465,690 $ 325,129 $ 940,524
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 97,160 98,985 92,776
Provision for credit losses 6,688 (6,047) (4,476)
Stock-based compensation 84,590 58,169 90,677
Deferred income taxes (80,067) (37,746) (58,566)
Excess tax benefit on stock-based compensation (9,411) (11,319) (13,662)
Loss on disposal groups held for sale 32,794 17,698 0
Other operating activities 20,682 5,541 (6,627)
Changes in operating elements:      
Receivables (164,255) 607,259 923,524
Contract assets (11,969) 68,041 197,097
Prepaid expenses and other 60,740 (39,048) (28,495)
Right of use asset (5,937) 19,255 (82,754)
Accounts payable and outstanding checks (79,943) (200,843) (307,266)
Accrued compensation 49,681 (108,084) 42,266
Accrued transportation expense 6,756 (51,171) (143,686)
Accrued income taxes 15,545 (2,284) (69,817)
Other accrued liabilities 12,791 (11,991) 2,371
Lease liability 5,076 (16,500) 83,084
Other assets and liabilities 2,473 16,902 (6,799)
Net cash provided by operating activities 509,084 731,946 1,650,171
INVESTING ACTIVITIES      
Purchases of property and equipment (22,653) (29,989) (61,915)
Purchases and development of software (51,635) (54,122) (66,582)
Proceeds from sale of property and equipment 0 1,324 63,579
Net cash used for investing activities (74,288) (82,787) (64,918)
FINANCING ACTIVITIES      
Proceeds from stock issued for employee benefit plans 114,890 56,914 100,059
Stock tendered for payment of withholding taxes (32,217) (25,294) (28,388)
Repurchase of common stock 0 (63,884) (1,459,900)
Cash dividends (294,772) (291,569) (285,317)
Proceeds from long-term borrowings 10,000 0 200,000
Payments on long-term borrowings (10,000) 0 0
Proceeds from short-term borrowings 3,192,500 3,893,750 4,500,000
Payments on short-term borrowings (3,396,500) (4,287,750) (4,646,000)
Net cash used for financing activities (416,099) (717,833) (1,619,546)
Effect of exchange rates on cash and cash equivalents (8,152) (3,284) (5,638)
Net change in cash and cash equivalents, including cash and cash equivalents classified within assets held for sale 10,545 (71,958) (39,931)
Less: net increase in cash and cash equivalents within assets held for sale (10,307) 0 0
Cash and cash equivalents, beginning of year 145,524 217,482 257,413
Cash and cash equivalents, end of year 145,762 145,524 217,482
Supplemental cash flow disclosures      
Cash paid for income taxes 131,827 155,936 429,096
Cash paid for interest 86,124 92,571 71,563
Accrued share repurchases held in other accrued liabilities $ 0 $ 0 $ 1,106