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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 304,906 $ 264,934
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 69,920 57,008
Amortization of debt discount and issuance costs 795 642
Deferred income taxes 4,370 2,611
Share-based compensation programs 5,176 5,428
Other 2,244 1,810
Changes in operating assets and liabilities:    
Accounts receivable (10,421) 219
Inventory (42,643) (93,167)
Accounts payable 32,756 51,230
Income taxes payable 79,380 116,009
Other (14,206) (30,024)
Net cash provided by operating activities 432,277 376,700
Investing activities:    
Purchases of property and equipment (114,843) (110,632)
Proceeds from sale of property and equipment 752 245
Other (375) (636)
Net cash used in investing activities (114,466) (111,023)
Financing activities:    
Proceeds from borrowings on revolving credit facility 755,000 482,000
Payments on revolving credit facility (541,000) (392,000)
Repurchases of common stock (549,450) (490,330)
Net proceeds from issuance of common stock 11,972 15,750
Other (2,156) (156)
Net cash used in financing activities (325,634) (384,736)
Net decrease in cash and cash equivalents (7,823) (119,059)
Cash and cash equivalents at beginning of the period 46,348 [1] 146,598
Cash and cash equivalents at end of the period 38,525 27,539
Supplemental disclosures of cash flow information:    
Income taxes paid 7,939 0
Interest paid, net of capitalized interest $ 48,763 $ 31,954
[1] The balance sheet at December 31, 2017, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.