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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended 86 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Sep. 30, 2022
Operating activities            
Net income $ 60,446 $ 132,753 $ 334,979 $ 410,607    
Adjustments to reconcile net income to net cash (used in) provided by operating activities:            
Depreciation     39,043 30,445    
Amortization of intangible assets 25,751 12,206 77,681 32,237    
Amortization of original issue discount and deferred financing costs     2,261 1,941    
Loss on extinguishment of debt [1] 0 0 3,743 831    
Deferred income taxes     (83,272) 8,210    
Share-based compensation expense [2] 6,861 5,783 23,423 18,204    
Gain on disposal of assets     (555) (4,018)    
Other noncash (gains) charges     7,037 (12)    
Net changes in operating assets and liabilities, net of acquisitions:            
Accounts receivable     (20,810) (116,768)    
Inventories     (353,618) (322,954)    
Other assets     (7,033) (6,874)    
Accounts payable     (136,289) 269,951    
Accrued wages and employee benefits     (17,418) 4,497    
Other accrued liabilities     105,544 49,987    
Excess tax benefits from equity awards     (17,068) (26,880)    
Net cash (used in) provided by operating activities     (42,352) 349,404    
Investing activities            
Proceeds from sale of property and equipment     2,049 182    
Proceeds from sale of investment     1,308 4,968    
Proceeds from beneficial interests in securitization transactions     2,745 2,240    
Contribution to equity method investment     (14,930) (781)    
Expenditures for property and equipment     (64,833) (87,456)    
Acquisition of business, net of cash acquired     (11,421) (465,926)    
Net cash used in investing activities     (85,082) (546,773)    
Financing activities            
Proceeds from short-term borrowings     237,182 127,816    
Proceeds from long-term borrowings     935,614 50,000    
Repayments of short-term borrowings     (239,550) (105,206)    
Repayments of long-term borrowings and finance lease obligations     (540,481) (54,889)    
Stock repurchases     (123,900) 0   $ (555,439)
Payment of contingent acquisition consideration     (16,135) (3,750)    
Payment of debt issuance costs     (10,330) (1,185)    
Purchase of additional ownership interest     (375) (27,164)    
Cash dividends paid to noncontrolling interest of subsidiary     (309) 0    
Taxes paid related to equity awards     (40,472) (49,569)    
Proceeds from exercise of stock options     13,627 30,502    
Net cash provided by (used in) financing activities     214,871 (33,445)    
Effect of exchange rate changes on cash and cash equivalents     (4,865) (588)    
Net increase (decrease) in cash and cash equivalents     82,572 (231,402)    
Cash and cash equivalents at beginning of period     147,339 655,128 $ 655,128  
Cash and cash equivalents at end of period $ 229,911 $ 423,726 $ 229,911 $ 423,726 $ 147,339 $ 229,911
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due primarily to a voluntary prepayment of Term Loan debt.
[2] Represents share-based compensation expense to account for stock options, restricted stock, and other stock awards over their respective vesting periods.