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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 3,246,814 $ 570,828 $ 677,900
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 347,653 325,789 321,082
Asset impairment charges   19,409  
Equity-based compensation 57,715 55,598 47,631
Deferred income taxes 322,007 47,808 51,721
Other adjustments (3,240) 30,974 1,413
Changes in certain assets and liabilities:      
Accounts receivable (944,516) (111,920) 237,805
Inventories (1,685,834) (150,596) 217,866
Other assets (2,491) (1,547) 13,735
Accounts payable 557,735 182,509 (86,445)
Income taxes receivable/payable (105,921) 32,551 (12,095)
Accrued expenses 414,214 (14,371) (74,323)
Net cash provided by operating activities 2,204,136 987,032 1,396,290
Investing activities:      
Purchases of property, plant and equipment (1,006,239) (1,198,055) (451,945)
Purchases of short-term investments   (149,359) (396,159)
Proceeds from maturities of short term investments   411,533 362,768
Acquisition of business, net of cash acquired   (60,012) (97,106)
Other investing activities 6,819 2,634 5,756
Net cash used in investing activities (999,420) (993,259) (576,686)
Financing activities:      
Issuance of current and long-term debt 1,516,556 2,523,356 1,573,962
Repayment of current and long-term debt (1,522,002) (2,177,527) (1,264,152)
Dividends paid (212,968) (209,248) (200,271)
Purchases of treasury stock (1,060,632) (106,529) (348,608)
Other financing activities (50,423) (37,100) (27,561)
Net cash used in financing activities (1,329,469) (7,048) (266,630)
Increase (decrease) in cash and equivalents, and restricted cash (124,753) (13,275) 552,974
Cash and equivalents, and restricted cash at beginning of period 1,374,122 1,387,397 834,423
Cash and equivalents, and restricted cash at end of period 1,249,369 1,374,122 1,387,397
Supplemental disclosure information:      
Cash paid for interest 103,374 111,591 134,550
Cash paid for income taxes, net $ 737,157 $ 50,417 $ 155,525