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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net income $ 63,552 $ 44,849
Reconciliation of net income to net cash provided by (used in) operating activities:    
Depreciation, amortization, and accretion 12,353 11,705
Amortization on cloud computing arrangements 558 380
Bad debt (benefit) expense (2,974) 212
Deferred tax expense (benefit) 478 (644)
Stock-based compensation 6,989 3,834
Loss on disposal of long-lived assets 0 15
Impairment of operating lease and other long-lived assets 0 1,068
Changes in operating assets and liabilities:    
Trade accounts receivable, net 33,282 (19,520)
Inventories (207,701) (332,713)
Prepaid expenses and other current assets (8,472) 7,633
Income tax receivable (13,529) (349)
Net operating lease assets and lease liabilities 7,657 (4,900)
Other assets (1,933) 1,846
Trade accounts payable 254,063 279,790
Other accrued expenses (33,247) (30,580)
Income tax payable 10,691 6,439
Other long-term liabilities 3,495 2,014
Net cash provided by (used in) operating activities 125,262 (28,921)
INVESTING ACTIVITIES    
Purchases of property and equipment (30,732) (12,467)
Net cash used in investing activities (30,732) (12,467)
FINANCING ACTIVITIES    
Proceeds from exercise of stock options 548 0
Repurchases of common stock (25,469) (99,993)
Cash paid for shares withheld for taxes (698) (43)
Net cash used in financing activities (25,619) (100,036)
Effect of foreign currency exchange rates on cash and cash equivalents (3,817) (6,873)
Net change in cash and cash equivalents 65,094 (148,297)
Cash and cash equivalents at beginning of period 981,795 843,527
Cash and cash equivalents at end of period 1,046,889 695,230
Cash paid during the period    
Income taxes, net of refunds of $4 and $250, as of June 30, 2023, and 2022, respectively 19,712 13,313
Interest 473 525
Operating leases 14,974 17,589
Non-cash investing activities    
Changes in accounts payable and accrued expenses for purchases of property and equipment (5,024) (3,658)
Accrued for asset retirement obligation assets related to leasehold improvements 242 561
Leasehold improvements acquired through tenant allowances 8,127 0
Non-cash financing activities    
Accrued excise taxes related to repurchase of common stock $ 123 $ 0