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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 1,087,060 $ 832,105
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and intangibles 158,917 151,873
Amortization of debt discount and issuance costs 2,207 2,152
Deferred income taxes 21,922 14,987
Share-based compensation programs 12,575 11,480
Other 1,382 1,906
Changes in operating assets and liabilities:    
Accounts receivable (45,359) (34,966)
Inventory 6,357 (78,086)
Accounts payable 398,785 334,503
Income taxes payable 12,408 210,855
Other 56,578 112,269
Net cash provided by operating activities 1,712,832 1,559,078
Investing activities:    
Purchases of property and equipment (222,607) (244,471)
Proceeds from sale of property and equipment 4,566 4,846
Investment in tax credit equity investments (1,768) (95,292)
Other (1,083) (311)
Net cash used in investing activities (220,892) (335,228)
Financing activities:    
Proceeds from borrowings on revolving credit facility 0 1,162,000
Payments on revolving credit facility 0 (1,423,000)
Proceeds from the issuance of long-term debt 0 499,795
Principal payments on long-term debt (300,000) 0
Payment of debt issuance costs (3,299) (3,840)
Repurchases of common stock (1,064,189) (651,027)
Net proceeds from issuance of common stock 41,921 25,593
Other (313) (253)
Net cash used in financing activities (1,325,880) (390,732)
Effect of exchange rate changes on cash (82) (1,101)
Net increase in cash and cash equivalents 165,978 832,017
Cash and cash equivalents at beginning of the period 465,640 40,406
Cash and cash equivalents at end of the period 631,618 872,423
Supplemental disclosures of cash flow information:    
Income taxes paid 292,673 20,187
Interest paid, net of capitalized interest $ 76,788 $ 73,091