XML 21 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities        
Net income $ 272,509 $ 249,624 $ 268,550  
Adjustments to reconcile net income to net cash provided by operations:        
Depreciation and amortization 60,865 59,172 59,051  
Stock option expense 30,082 26,254 22,502  
Deferred payroll taxes   (18,175) (18,175) $ 36,400
Noncash portion of long-term incentive compensation 9,267 6,188 7,745  
(Benefit)/provision for deferred income taxes (8,027) 14,827 2,400  
Litigation settlements 2,050 4,000    
Litigation settlements     (9,440)  
Noncash directors' compensation 1,444 1,170 1,173  
Amortization of debt issuance costs 580 342 306  
Changes in operating assets and liabilities:        
Increase in accounts receivable (41,488) (2,414) (8,431)  
Increase in inventories (1,732) (162) (3,014)  
Decrease/(increase) in prepaid expenses 87 2,397 (6,511)  
(Decrease)/increase in accounts payable and other current liabilities (9,348) 15,343 9,832  
Change in current income taxes 11,748 (996) (20,401)  
Net change in lease assets and liabilities (1,424) 1,471 (44)  
Increase in other assets (9,952) (45,779) (10,305)  
Increase/(decrease) in other liabilities 12,802 (3,350) 12,074  
Other sources/(uses) 836 (26) 1,285  
Net cash provided by operating activities 330,299 309,886 308,597  
Cash Flows from Investing Activities        
Capital expenditures (56,854) (57,325) (58,675)  
Business combinations, net of cash acquired (3,994) (3,529)    
Proceeds from sale of fixed assets 640 2,330 904  
Other (uses)/sources (434) (878) 14  
Net cash used by investing activities (60,642) (59,402) (57,757)  
Cash Flows from Financing Activities        
Proceeds from exercise of stock options 102,192 44,968 35,848  
Payments on other long-term debt (97,500) (2,500)    
Proceeds from other long-term debt   100,000    
Purchases of treasury stock (67,697) (114,515) (576,042)  
Dividends paid (23,502) (22,017) (22,016)  
Change in cash overdrafts payable 15,749 (11,884) 11,884  
Capital stock surrendered to pay taxes on stock-based compensation (9,557) (15,611) (15,129)  
Payments on revolving line of credit   (306,800) (25,300)  
Proceeds from revolving line of credit   121,800 210,300  
Debt issuance costs   (1,586)    
Other sources/(uses) 490 (1,108) (165)  
Net cash used by financing activities (79,825) (209,253) (380,620)  
Increase/(decrease) in cash and cash equivalents 189,832 41,231 (129,780)  
Cash and cash equivalents at beginning of year 74,126 32,895 162,675  
Cash and cash equivalents at end of year $ 263,958 $ 74,126 $ 32,895 $ 162,675