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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES    
Net income $ 242,099 $ 146,373
Reconciliation of net income to net cash provided by (used in) operating activities:    
Depreciation, amortization, and accretion 25,138 23,018
Amortization on cloud computing arrangements 1,131 1,001
Bad debt expense 6,905 4,444
Deferred tax (benefit) expense (1,266) 788
Stock-based compensation 16,719 10,550
Loss on disposal of long-lived assets 145 24
Impairment of operating lease, other long-lived assets, and other 793 1,068
Changes in operating assets and liabilities:    
Trade accounts receivable, net (193,071) (136,430)
Inventories (193,480) (418,247)
Prepaid expenses and other current assets (35,269) (22,791)
Income tax receivable (8,488) (6,134)
Net operating lease assets and lease liabilities 8,909 (4,057)
Other assets (1,886) 2,308
Trade accounts payable 215,374 157,155
Other accrued expenses (1,479) (14,688)
Income tax payable 44,171 26,915
Other long-term liabilities (4,917) (8,143)
Net cash provided by (used in) operating activities 121,528 (236,846)
INVESTING ACTIVITIES    
Purchases of property and equipment (57,436) (24,254)
Proceeds from sales of property and equipment 34 0
Net cash used in investing activities (57,402) (24,254)
FINANCING ACTIVITIES    
Proceeds from issuance of stock 1,165 1,046
Proceeds from exercise of stock options 1,081 1,830
Repurchases of common stock (210,938) (150,240)
Cash paid for shares withheld for taxes (8,457) (5,102)
Net cash used in financing activities (217,149) (152,466)
Effect of foreign currency exchange rates on cash and cash equivalents (5,721) (10,702)
Net change in cash and cash equivalents (158,744) (424,268)
Cash and cash equivalents at beginning of period 981,795 843,527
Cash and cash equivalents at end of period 823,051 419,259
Cash paid during the period    
Income taxes, net of refunds of $4 and $1,124, as of September 30, 2023, and 2022, respectively 47,146 29,242
Interest 955 901
Operating leases 31,370 31,572
Non-cash investing activities    
Changes in accounts payable and accrued expenses for purchases of property and equipment (12,957) (2,516)
Accrued for asset retirement obligation assets related to leasehold improvements 718 803
Leasehold improvements acquired through tenant allowances 8,127 0
Non-cash financing activities    
Accrued excise taxes related to repurchase of common stock $ 1,816 $ 0