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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 1,725,416 $ 313,537 $ 221,809
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 547,352 116,566 100,038
Amortization of debt discount, premium and issuance costs 3,869 3,508 3,880
Loss on extinguishment of debt 3,027 6,700 8,189
Deferred income taxes (34,573) 16,614 50,994
Stock-based compensation expense 31,486 17,022 12,239
Net gain on sales of assets and asset impairments (32,421) (1,067) (949)
Changes in assets and liabilities, net of assets acquired and liabilities assumed:      
Receivables (453,911) (246,912) 45,687
Inventories (282,165) (220,101) 44,202
Contract assets 103,326 12,631 2,898
Other current assets (33,489) (19,743) 4,674
Other assets and liabilities (1,155) 50,370 1,611
Accounts payable 191,885 160,947 4,070
Accrued liabilities 91,419 55,361 7,004
Contract liabilities 90,135 19,896 3,496
Net cash provided by operating activities 1,743,549 260,067 504,046
Cash flows from investing activities:      
Cash used for acquisitions, net of cash acquired (1,206,471) (32,643) (92,855)
Proceeds from divestiture of business 76,162    
Purchases of property, plant and equipment (227,891) (112,082) (112,870)
Proceeds from sale of property, plant and equipment 13,560 8,500 6,545
Net cash used in investing activities (1,344,640) (136,225) (199,180)
Cash flows from financing activities:      
Borrowings under revolving credit facility 3,125,000 891,000 1,040,000
Repayments under revolving credit facility (2,612,000) (843,000) (1,192,000)
Proceeds from long-term debt and other loans 1,000,000 895,625 478,375
Repayments of long-term debt and other loans (554,677) (618,542) (610,834)
Payments of debt extinguishment costs (4,950) (22,686) (2,301)
Payments of loan costs (19,450) (13,800) (8,618)
Exercise of stock options 726 1,424 4,873
Repurchase of common stock (1,714,761) (4,153) (10,392)
Net cash (used in) provided by financing activities (780,112) 285,868 (300,897)
Net change in cash and cash equivalents (381,203) 409,710 3,969
Cash and cash equivalents at beginning of period 423,806 14,096 10,127
Cash and cash equivalents at end of period 42,603 423,806 14,096
Supplemental disclosures of cash flow information:      
Cash paid for interest [1] 105,570 110,600 100,354
Cash paid for income taxes 633,060 43,400 18,107
Supplemental disclosures of non-cash activities:      
Non-cash consideration for the BMC Merger 3,658,362    
Accrued purchases of property, plant and equipment 8,052 1,962 3,378
Right-of-use assets obtained in exchange for operating lease obligations 64,939 42,606 86,373
Assets acquired under finance lease obligations 1,644 $ 16,964 $ 16,462
Amounts accrued for repurchases of common stock $ 51,545    
[1]

Includes $5.0 million, $22.7 million and $2.3 million of debt extinguishment costs paid in 2021, 2020, and 2019, respectively, classified as financing outflows above and discussed more fully in Note 8.