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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income $ 107,003 $ 107,475
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,471 14,754
Amortization of intangible assets 15,448 12,593
Amortization of original issue discount and deferred financing costs 1,286 2,376
Deferred income taxes 8,029 11,108
Share-based compensation expense [1] 9,974 7,928
Other non-cash charges 8,906 400
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (19,021) (8,794)
Inventories (35,316) (21,157)
Other assets (1,220) (3,086)
Accounts payable (22,987) (68,539)
Accrued wages and employee benefits (3,604) (14,912)
Other accrued liabilities 31,851 (16,077)
Excess tax benefits from equity awards (4,706) (1,455)
Net cash provided by operating activities 113,114 22,614
Investing activities    
Proceeds from sale of property and equipment 12 49
Proceeds from beneficial interests in securitization transactions 1,324 1,396
Expenditures for property and equipment (26,332) (34,376)
Acquisition of business, net of cash acquired 0 (112,941)
Net cash used in investing activities (24,996) (145,872)
Financing activities    
Proceeds from short-term borrowings 122,489 35,790
Proceeds from long-term borrowings 81 0
Repayments of short-term borrowings (125,745) (24,325)
Repayments of long-term borrowings and finance lease obligations (2,460) (2,000)
Payment of contingent acquisition consideration (4,000) 0
Cash dividends paid to noncontrolling interest of subsidiary 0 (285)
Taxes paid related to equity awards (10,951) (4,441)
Proceeds from exercise of stock options 7,570 3,419
Net cash (used in) provided by financing activities (13,016) 8,158
Effect of exchange rate changes on cash and cash equivalents (1,251) 985
Net increase (decrease) in cash and cash equivalents 73,851 (114,115)
Cash and cash equivalents at beginning of period 322,883 224,482
Cash and cash equivalents at end of period $ 396,734 $ 110,367
[1] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.