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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 506,882 $ 582,073
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 83,180 76,901
Impairment charges 2,346 5,148
Provision for credit losses 5,112 1,719
Deferred income taxes (36,890) 4,049
Share-based compensation expense 36,491 28,042
Other 2,032 2,402
Changes in assets and liabilities:    
Accounts receivable (35,061) (49,050)
Inventories (99,621) (46,891)
Other assets and liabilities (87,566) (51,961)
Accounts payable (3,930) 637
Deferred revenue (3,419) (7,487)
Net cash provided by operating activities 369,556 545,582
Cash Flows from Investing Activities:    
Purchases of property and equipment (99,609) (87,761)
Acquisition of intangible assets (10,000) 0
Equity investment (25,000) 0
Acquisitions of a business, net of cash acquired (11,512) (161,166)
Net cash used by investing activities (146,121) (248,927)
Cash Flows from Financing Activities:    
Borrowings under revolving credit facility, net 559,500 0
Payment of senior debt (75,000) (50,000)
Payments of acquisition-related contingent consideration and holdbacks (5,730) (1,500)
Repurchases of common stock, net (745,691) (502,021)
Proceeds from exercises of stock options and employee stock purchase plans 23,257 37,428
Shares withheld for statutory tax withholding payments on restricted stock (10,552) (15,501)
Net cash used by financing activities (254,216) (531,594)
Net effect of changes in exchange rates on cash (14,497) (3,786)
Net decrease in cash and cash equivalents (45,278) (238,725)
Cash and cash equivalents at beginning of period 144,454 383,928
Cash and cash equivalents at end of period 99,176 145,203
Supplemental Cash Flow Information:    
Cash paid for income taxes 179,720 96,103
Unpaid property and equipment, reflected in accounts payable and accrued liabilities $ 19,661 $ 14,734