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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net income $ 93,581 $ 58,459
Reconciliation of net income to net cash used in operating activities:    
Depreciation, amortization and accretion 19,499 19,966
Bad debt expense 7,163 976
Deferred tax expense (benefit) 1,503 (412)
Stock-based compensation 7,635 8,497
Excess tax benefit from stock-based compensation (1,653) (2,004)
Loss on disposal of property and equipment 135 391
Impairment of operating lease assets and other long-lived assets 2,680 123
Changes in operating assets and liabilities:    
Trade accounts receivable, net (147,832) (156,975)
Inventories, net (172,518) (280,032)
Prepaid expenses and other current assets (12,012) (15,049)
Income tax receivable (3,205) (3,152)
Net operating lease assets and liabilities (3,385) (817)
Other assets (2,213) (139)
Trade accounts payable 162,289 188,413
Other accrued expenses 11,434 (31,056)
Income taxes payable 22,260 (3,331)
Long-term liabilities (1,322) (14)
Net cash used in operating activities (15,961) (216,156)
INVESTING ACTIVITIES    
Purchases of property and equipment (13,333) (14,944)
Proceeds from sales of property and equipment 49 240
Net cash used in investing activities (13,284) (14,704)
FINANCING ACTIVITIES    
Proceeds from short-term borrowings 9,100 29,463
Repayments of short-term borrowings 0 (16,000)
Proceeds from issuance of stock 698 618
Proceeds from exercise of stock options 1,381 2,959
Repurchases of common stock 0 (190,405)
Cash paid for shares withheld for taxes (7,054) (5,744)
Repayments of mortgage principal (309) (294)
Net cash provided by (used in) financing activities 3,816 (179,403)
Effect of foreign currency exchange rates on cash and cash equivalents 2,406 (1,756)
Net change in cash and cash equivalents (23,023) (412,019)
Cash and cash equivalents at beginning of period 649,436 589,692
Cash and cash equivalents at end of period 626,414 177,673
Cash paid during the period    
Income taxes, net of refunds of $1,292 and $5,282, as of September 30, 2020 and 2019, respectively 11,764 17,508
Interest 1,505 1,118
Operating leases 28,911 30,093
Non-cash investing activities    
Accrued for purchases of property and equipment 3,598 4,260
Accrued for asset retirement obligations $ 323 $ 96