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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 222,238 $ 182,372
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 26,747 22,842
Amortization of intangible assets 23,340 19,999
Amortization of original issue discount and deferred financing costs 1,940 3,597
Deferred income taxes 15,433 19,514
Share-based compensation expense [1] 14,327 11,477
Other non-cash charges 6,414 557
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (85,474) (45,543)
Inventories (14,604) 27,190
Other assets 2,543 1,488
Accounts payable 11,624 (83,174)
Accrued wages and employee benefits 11,793 (7,517)
Other accrued liabilities 38,211 (17,092)
Excess tax benefits from equity awards (6,222) (1,908)
Net cash provided by operating activities 268,310 133,802
Investing activities    
Proceeds from sale of property and equipment 26 83
Proceeds from beneficial interests in securitization transactions 1,998 2,036
Expenditures for property and equipment (33,940) (45,447)
Acquisition of business, net of cash acquired (22,815) (120,863)
Net cash used in investing activities (54,731) (164,191)
Financing activities    
Proceeds from short-term borrowings 198,087 68,802
Proceeds from long-term borrowings 297 0
Repayments of short-term borrowings (210,854) (45,437)
Repayments of long-term borrowings and finance lease obligations (3,584) (3,110)
Payment of contingent acquisition consideration (4,000) 0
Cash dividends paid to noncontrolling interest of subsidiary 0 (285)
Taxes paid related to equity awards (13,533) (5,749)
Proceeds from exercise of stock options 11,991 7,957
Net cash (used in) provided by financing activities (21,596) 22,178
Effect of exchange rate changes on cash and cash equivalents (922) (233)
Net increase (decrease) in cash and cash equivalents 191,061 (8,444)
Cash and cash equivalents at beginning of period 322,883 224,482
Cash and cash equivalents at end of period $ 513,944 $ 216,038
[1] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.