XML 46 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net earnings $ 145,815 $ 101,729
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:    
Depreciation and amortization 26,769 28,498
Provision for losses on accounts receivable 2,743 3,838
Non-cash stock-based compensation 10,434 9,375
Deferred income taxes (575) 1,815
Amortization of debt discount and issuance costs 3,268 8,375
Other adjustments 1,810 (5,308)
Changes in assets and liabilities:    
Increase in accounts receivable (734,971) (362,109)
Increase in inventories (56,811) (31,072)
Increase in other assets (53,802) (8,282)
Increase in accounts payable 223,198 294,860
Decrease in accrued expenses and other liabilities (9,875) (36,532)
Net cash (used in) provided by operating activities: (441,997) 5,187
Cash flows from investing activities:    
Proceeds from sale of assets 1,350 27,211
Purchases of property and equipment (47,256) (16,837)
Acquisitions, net of cash and cash equivalents acquired (68,248) 0
Net cash (used in) provided by investing activities: (114,154) 10,374
Cash flows from financing activities:    
Net repayments under inventory financing facilities (62,119) (17,538)
Repurchases of common stock 0 (50,000)
Other payments (6,938) (7,944)
Net cash provided by (used in) financing activities: 598,418 (35,482)
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances (8,606) (594)
Increase (decrease) in cash, cash equivalents and restricted cash 33,661 (20,515)
Cash, cash equivalents and restricted cash at beginning of period 105,977 130,582
Cash, cash equivalents and restricted cash at end of period 139,638 110,067
ABL Facility    
Cash flows from financing activities:    
Borrowings on ABL revolving credit facility 2,592,440 1,838,680
Repayments on ABL revolving credit facility $ (1,924,965) $ (1,798,680)