XML 15 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES    
Net income $ 260,052 $ 240,339
Reconciliation of net income to net cash provided by (used in) operating activities:    
Depreciation, amortization and accretion 29,437 33,547
Loss on extinguishment of debt 0 447
Bad debt expense 693 1,971
Deferred tax (benefit) expense (1,020) 5,094
Stock-based compensation 12,766 11,540
Excess tax benefits from stock-based compensation (1,755) (1,319)
Loss on disposal of property and equipment 679 87
Impairment of operating lease assets and other long-lived assets 1,382 180
Restructuring charges 0 295
Changes in operating assets and liabilities:    
Trade accounts receivable, net (108,982) (115,638)
Inventories, net (87,104) (54,373)
Prepaid expenses and other current assets (19,970) (19,808)
Income tax receivable (5,781) (357)
Net operating lease assets and liabilities (1,692)  
Other assets (5,924) 3,714
Trade accounts payable 119,794 134,495
Other accrued expenses 21,504 15,455
Income taxes payable 23,545 25,373
Long-term liabilities 1,101 (1,302)
Net cash provided by operating activities 238,725 279,740
INVESTING ACTIVITIES    
Purchases of property and equipment (23,664) (21,832)
Proceeds from sale of property and equipment 266 68
Net cash used in investing activities (23,398) (21,764)
FINANCING ACTIVITIES    
Proceeds from short-term borrowings 69,336 162,001
Repayments of short-term borrowings (63,178) (161,621)
Debt issuance costs on short-term borrowings 0 (1,292)
Proceeds from issuance of stock 618 475
Proceeds from exercise of options 3,145 0
Repurchase of common stock (190,405) (161,395)
Cash paid for shares withheld for taxes (5,995) (4,900)
Repayments of mortgage principal (448) (425)
Net cash used in financing activities (186,927) (167,157)
Effect of foreign currency exchange rates on cash and cash equivalents (1,228) (4,851)
Net change in cash and cash equivalents 27,172 85,968
Cash and cash equivalents at beginning of period 589,692 429,970
Cash and cash equivalents at end of period 616,864 515,938
Cash paid during the period    
Income taxes, net of refunds of $5,302 and $3,674, as of December 31, 2019 and 2018, respectively 47,482 29,646
Interest 1,749 3,158
Operating leases 45,732  
Non-cash investing activities    
Accrued for purchases of property and equipment 1,444 798
Accrued for asset retirement obligations $ 38 $ 4,710