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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 738,405 $ 1,626,850
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 275,515 229,805
Deferred income taxes (37,902) (22,627)
Stock-based compensation expense 23,421 18,156
Other non-cash adjustments 804 29,286
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Receivables (179,946) (637,115)
Inventories 77,277 (419,560)
Contract assets (6,815) (63,127)
Other current assets 25,652 (6,790)
Other assets and liabilities (13,815) 3,035
Accounts payable 260,972 168,144
Accrued liabilities (113,695) 160,794
Contract liabilities (4,166) 40,219
Net cash provided by operating activities 1,045,707 1,127,070
Cash flows from investing activities:    
Cash used for acquisitions (90,559) (192,945)
Purchases of property, plant and equipment (231,110) (119,538)
Proceeds from sale of property, plant and equipment 9,858 5,395
Net cash used in investing activities (311,811) (307,088)
Cash flows from financing activities:    
Borrowings under revolving credit facility 2,801,000 3,599,000
Repayments under revolving credit facility (2,108,000) (3,353,000)
Proceeds from long-term debt and other loans   1,001,500
Repayments of long-term debt and other loans (2,112) (614,146)
Payments of debt extinguishment costs   (20,672)
Payments of loan costs (1,897) (15,816)
Exercise of stock options 473 434
Repurchase of common stock (1,414,489) (1,293,700)
Net cash (used in) provided by financing activities (725,025) (696,400)
Net change in cash and cash equivalents 8,871 123,582
Cash and cash equivalents at beginning of period 80,445 42,603
Cash and cash equivalents at end of period 89,316 166,185
Supplemental disclosures of cash flow information:    
Cash paid for interest 87,084 85,646
Cash paid for income taxes 296,474 430,789
Supplemental disclosures of non-cash activities:    
Non-cash or accrued consideration for acquisitions 6,010 7,371
Accrued purchases of property, plant and equipment 7,420 10,392
Right-of-use assets obtained in exchange for operating lease obligations 42,916 67,039
Amounts accrued related to repurchases of common stock $ 12,762 $ 69,412