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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 173,623 $ 180,442
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 87,298 71,771
Amortization of debt issuance costs and debt discount 2,535 3,060
Loss on extinguishment of debt, net 5,349 4,654
Deferred income taxes 3,155 36,547
Stock compensation expense 12,098 9,380
Net gain on sale of assets and asset impairments (1,413) (1,502)
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Receivables (230,627) (41,083)
Inventories (189,692) 22,263
Other current assets (5,076) 8,968
Other assets and liabilities 60,439 1,756
Accounts payable 205,570 73,913
Accrued liabilities 31,887 (9,905)
Net cash provided by operating activities 155,146 360,264
Cash flows from investing activities:    
Purchases of property, plant and equipment (83,508) (77,937)
Proceeds from sale of property, plant and equipment 3,298 5,474
Cash used for acquisitions 15,893 33,931
Net cash used in investing activities (96,103) (106,394)
Cash flows from financing activities:    
Borrowings under revolving credit facility 791,000 885,000
Repayments under revolving credit facility (818,000) (1,064,000)
Proceeds from issuance of notes 895,625 478,375
Repayments of long-term debt and other loans (561,541) (502,062)
Payments of debt extinguishment costs 22,686 2,301
Payments of loan costs 13,800 8,566
Exercise of stock options 1,343 3,220
Repurchase of common stock (4,153) (10,392)
Net cash provided by (used in) financing activities 267,788 (220,726)
Net change in cash and cash equivalents 326,831 33,144
Cash and cash equivalents at beginning of the period 14,096 10,127
Cash and cash equivalents at end of the period 340,927 43,271
Supplemental disclosures of cash flow information:    
Cash paid for interest 77,734 76,326
Cash paid for income taxes 21,280 9,989
Supplemental disclosures of non-cash activities:    
Accrued purchases of property, plant and equipment 1,336 2,127
Acquisition of assets under operating lease obligations 33,379 64,940
Acquisition of assets under finance lease obligations $ 16,096 $ 11,653