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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES      
Net income $ 516,822 $ 451,949 $ 382,575
Reconciliation of net income to net cash provided by (used in) operating activities:      
Depreciation, amortization, and accretion 47,858 42,878 40,530
Amortization on cloud computing arrangements 2,149 1,552 737
Loss on extinguishment of debt 226 0 0
Bad debt expense (benefit) 1,983 (342) 3,053
Deferred tax benefit (9,719) (27,796) (8,171)
Stock-based compensation 26,897 26,816 22,701
Loss on disposal of long-lived assets 2,691 107 1,019
Impairment of intangible assets 0 0 3,522
Impairment of operating lease and other long-lived assets 2,817 3,186 14,084
Gain on settlement of asset retirement obligations 0 0 (207)
Changes in operating assets and liabilities:      
Trade accounts receivable, net (806) (86,627) (33,173)
Inventories (26,056) (228,554) 33,378
Prepaid expenses and other current assets (5,609) (19,095) (22,128)
Income tax receivable 13,459 (11,933) 1,842
Net operating lease assets and lease liabilities (8,308) 3,189 250
Other assets 13,240 (28,296) (3,103)
Trade accounts payable (74,247) 89,184 79,176
Other accrued expenses 11,528 (20,370) 53,785
Income tax payable 4,897 (24,494) 25,817
Other long-term liabilities 17,600 999 530
Net cash provided by operating activities 537,422 172,353 596,217
INVESTING ACTIVITIES      
Purchases of property and equipment (81,025) (51,017) (32,218)
Proceeds from sales of property and equipment 12 8 49
Net cash used in investing activities (81,013) (51,009) (32,169)
FINANCING ACTIVITIES      
Proceeds from short-term borrowings 0 0 9,100
Repayments of short-term borrowings 0 0 (9,478)
Loan origination costs on revolving credit facilities (1,537) 0 0
Proceeds from issuance of stock 2,170 1,991 1,502
Proceeds from exercise of stock options 4,396 1,204 6,775
Repurchases of common stock (297,372) (356,653) (99,147)
Cash paid for shares withheld for taxes (16,688) (14,024) (7,432)
Repayments of mortgage principal 0 0 (30,901)
Net cash used in financing activities (309,031) (367,482) (129,581)
Effect of foreign currency exchange rates on cash and cash equivalents (9,110) 304 5,458
Net change in cash and cash equivalents 138,268 (245,834) 439,925
Cash and cash equivalents at beginning of period 843,527 1,089,361 649,436
Cash and cash equivalents at end of period 981,795 843,527 1,089,361
Cash paid during the period      
Income taxes, net of refunds of $1,421, $77, and $1,564, as of March 31, 2023, 2022, and 2021, respectively 134,565 192,013 104,068
Interest 1,880 1,842 2,931
Operating leases 60,353 55,588 57,376
Non-cash investing activities      
Change in accounts payable and other accrued expenses for purchases of property and equipment 5,325 2,797 2,721
Accrued for asset retirement obligation assets related to leasehold improvements 8,203 3,900 1,842
Leasehold improvements acquired through tenant allowances 0 4,061 0
Non-cash financing activities      
Accrued for shares withheld for taxes 5,371 8,435 11,679
Accrued excise taxes related to repurchases of common stock $ 569 $ 0 $ 0