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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net earnings $ 219,345 $ 172,640 $ 159,407
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 55,421 65,560 46,209
Provision for losses on accounts receivable 7,862 10,163 5,079
Non-cash stock-based compensation 18,201 17,727 16,011
Deferred income taxes 11,858 (13,246) 7,418
Amortization of debt discount and issuance costs 16,875 16,217 6,652
Other adjustments (3,259) 6,272 4,894
Changes in assets and liabilities:      
Increase in accounts receivable (289,009) (132,599) (118,971)
(Increase) decrease in inventories (148,941) 1,029 11,944
(Increase) decrease in other assets (18,100) 7,367 (129,745)
Increase (decrease) in accounts payable 303,395 152,235 (612)
(Decrease) increase in accrued expenses and other liabilities (9,937) 52,217 119,590
Net cash provided by operating activities 163,711 355,582 127,876
Cash flows from investing activities:      
Proceeds from sale of assets 31,005 40,295 0
Acquisitions, net of cash and cash equivalents acquired 0 (6,405) (664,287)
Purchases of property and equipment (52,079) (24,184) (69,086)
Net cash (used in) provided by investing activities (21,074) 9,706 (733,373)
Cash flows from financing activities:      
Borrowings on accounts receivable securitization financing facility 0 0 2,364,500
Repayments on accounts receivable securitization financing facility 0 0 (2,558,500)
Net (repayments) borrowings under inventory financing facilities (14,355) 103,254 (50,454)
Proceeds from issuance of convertible senior notes 0 0 341,250
Proceeds from issuance of warrants 0 0 34,440
Purchase of note hedge related to convertible senior notes 0 0 (66,325)
Repurchases of treasury stock (50,000) (25,000) (27,899)
Other payments (10,030) (8,661) (9,396)
Net cash (used in) provided by financing activities (161,385) (361,791) 577,587
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances (5,857) 10,788 (86)
(Decrease) increase in cash, cash equivalents and restricted cash (24,605) 14,285 (27,996)
Cash, cash equivalents and restricted cash at beginning of year 130,582 116,297 144,293
Cash, cash equivalents and restricted cash at end of year 105,977 130,582 116,297
Senior revolving credit facility      
Cash flows from financing activities:      
Borrowings on senior revolving credit facility 0 0 242,936
Repayments on senior revolving credit facility 0 0 (242,936)
ABL revolving credit facility      
Cash flows from financing activities:      
Borrowings on senior revolving credit facility 3,953,496 3,030,679 1,680,515
Repayments on senior revolving credit facility $ (4,040,496) $ (3,462,063) $ (1,130,544)