XML 19 R9.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 47,563 $ 156,497
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 53,935 57,858
Non-cash lease expense 33,250 40,703
Stock-based compensation 9,320 16,476
Foreign currency losses 7,077 5,501
Loss on disposal of assets 568 13,210
Deferred taxes 2,483 3,846
Impairment of fixed assets and other intangibles 9,916 0
Unrealized gain on equity investments 0 (18,077)
Changes in operating assets and liabilities:    
Accounts receivable, net (15,523) 8,377
Inventories, net 48,422 (109,371)
Prepaid expenses and other (6,801) (29,311)
Other assets 8,030 (18,438)
Accounts payable (1,224) (11,182)
Accrued expenses (95,928) (89,993)
Other liabilities (18,551) 5,977
Net cash provided by operating activities 82,537 32,073
Cash flows from investing activities:    
Purchases of property and equipment (45,274) (50,384)
Proceeds on investment sales 5,535 11,171
Purchases of investments (13,955) (14,973)
Acquisitions, net of cash acquired 0 (18,963)
Net cash used in investing activities (53,694) (73,149)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 25,794 7,874
Payment of cash dividends (57,988) (57,336)
Repurchases of shares of common stock (60,038) (70,415)
Finance lease principal payments (1,401) (1,409)
Payment of debt issuance costs (5,077) 0
Payments of debt (410,000) (77,500)
Proceeds from debt 460,000 130,000
Net cash used in financing activities (48,710) (68,786)
Effect of exchange rate changes on cash (25,590) (10,409)
Net increase (decrease) in cash and cash equivalents (45,457) (120,271)
Cash and cash equivalents, beginning of period 339,593 402,683
Cash and cash equivalents, end of period $ 294,136 $ 282,412