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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES    
Net income $ 349,117 $ 260,052
Reconciliation of net income to net cash used in operating activities:    
Depreciation, amortization, and accretion 30,637 29,437
Amortization on cloud computing arrangements 420 0
Bad debt expense 6,392 693
Deferred tax expense (benefit) 1,859 (1,020)
Stock-based compensation 17,559 12,766
Excess tax benefit from stock-based compensation (1,687) (1,755)
Loss on disposal of property and equipment 259 679
Impairment of operating lease assets and other long-lived assets 4,060 1,382
Gain on settlement of asset retirement obligations (207) 0
Changes in operating assets and liabilities:    
Trade accounts receivable, net (133,708) (108,982)
Inventories, net 6,321 (87,104)
Prepaid expenses and other current assets (32,387) (19,970)
Income tax receivable (2,305) (5,781)
Net operating lease assets and liabilities 1,652 (1,692)
Other assets (3,023) (5,924)
Trade accounts payable 152,797 119,794
Other accrued expenses 75,658 21,504
Income taxes payable 47,530 23,545
Long-term liabilities 1,318 1,101
Net cash provided by operating activities 522,262 238,725
INVESTING ACTIVITIES    
Purchases of property and equipment (21,300) (23,664)
Proceeds from sales of property and equipment 49 266
Net cash used in investing activities (21,251) (23,398)
FINANCING ACTIVITIES    
Proceeds from short-term borrowings 9,100 69,336
Repayments of short-term borrowings (9,478) (63,178)
Proceeds from issuance of stock 698 618
Proceeds from exercise of stock options 5,583 3,145
Repurchases of common stock 0 (190,405)
Cash paid for shares withheld for taxes (7,203) (5,995)
Repayments of mortgage principal (470) (448)
Net cash used in financing activities (1,770) (186,927)
Effect of foreign currency exchange rates on cash and cash equivalents 7,879 (1,228)
Net change in cash and cash equivalents 507,120 27,172
Cash and cash equivalents at beginning of period 649,436 589,692
Cash and cash equivalents at end of period 1,156,556 616,864
Cash paid during the period    
Income taxes, net of refunds of $1,489 and $5,302, as of December 31, 2020 and 2019, respectively 56,957 47,482
Interest 2,336 1,749
Operating leases 43,263 45,732
Non-cash investing activities    
Accrued for purchases of property and equipment 1,900 1,444
Accrued for asset retirement obligations $ 1,595 $ 38