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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net income $ 614,147 $ 358,614
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 68,621 77,067
Provision for credit losses 3,979 12,701
Stock-based compensation 93,962 33,127
Deferred income taxes (11,683) (9,468)
Excess tax benefit on stock-based compensation (10,830) (17,127)
Other operating activities 1,384 13,104
Changes in operating elements, net of acquisitions:    
Receivables (1,290,485) (367,538)
Contract assets (220,889) (56,131)
Prepaid expenses and other (38,525) 12,331
Accounts payable and outstanding checks 595,036 186,755
Accrued compensation 35,413 16,458
Accrued transportation expense 165,580 46,396
Accrued income taxes 6,400 17,125
Other accrued liabilities 4,947 8,907
Other assets and liabilities 2,043 4,728
Net cash provided by operating activities 19,100 337,049
INVESTING ACTIVITIES    
Purchases of property and equipment (26,503) (17,446)
Purchases and development of software (26,062) (22,815)
Acquisitions, net of cash acquired (14,749) (223,230)
Other investing activities 0 5,525
Net cash used for investing activities (67,314) (257,966)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 43,183 100,542
Stock tendered for payment of withholding taxes (25,246) (16,535)
Repurchase of common stock (428,801) (68,563)
Cash dividends (208,926) (207,428)
Payments on long-term borrowings (2,048) 0
Proceeds from short-term borrowings 2,768,000 1,043,600
Payments on short-term borrowings (2,136,251) (1,126,600)
Net cash provided by (used for) financing activities 9,911 (274,984)
Effect of exchange rates on cash and cash equivalents (2,844) 612
Net change in cash and cash equivalents (41,147) (195,289)
Cash and cash equivalents, beginning of period 243,796 447,858
Cash and cash equivalents, end of period $ 202,649 $ 252,569