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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES      
Net income $ 759,563 $ 516,822 $ 451,949
Reconciliation of net income to net cash provided by (used in) operating activities:      
Depreciation, amortization, and accretion 57,587 47,858 42,878
Amortization on cloud computing arrangements 2,075 2,149 1,552
Loss on extinguishment of debt 0 226 0
Bad debt expense (benefit) 789 1,983 (342)
Deferred tax benefit (1,510) (9,719) (27,796)
Stock-based compensation 37,288 26,897 26,816
Loss on disposal of long-lived assets 407 2,691 107
Impairment of intangible assets 8,164 0 0
Impairment of operating lease and other long-lived assets 1,015 2,817 3,186
Changes in operating assets and liabilities:      
Trade accounts receivable, net 4,157 (806) (86,627)
Inventories 58,541 (26,056) (228,554)
Prepaid expenses and other current assets (38,490) (5,609) (19,095)
Income tax receivable (38,775) 13,459 (11,933)
Net operating lease assets and lease liabilities (567) (8,308) 3,189
Other assets (9,989) 13,240 (28,296)
Trade accounts payable 119,601 (74,247) 89,184
Other accrued expenses 43,534 11,528 (20,370)
Income tax payable 35,016 4,897 (24,494)
Other long-term liabilities (5,222) 17,600 999
Net cash provided by operating activities 1,033,184 537,422 172,353
INVESTING ACTIVITIES      
Purchases of property and equipment (89,365) (81,025) (51,017)
Proceeds from sales of property and equipment 34 12 8
Net cash used in investing activities (89,331) (81,013) (51,009)
FINANCING ACTIVITIES      
Loan origination costs on revolving credit facilities 0 (1,537) 0
Proceeds from issuance of stock 2,444 2,170 1,991
Proceeds from exercise of stock options 4,786 4,396 1,204
Repurchases of common stock (414,931) (297,372) (356,653)
Cash paid for shares withheld for taxes (9,974) (16,688) (14,024)
Net cash used in financing activities (417,675) (309,031) (367,482)
Effect of foreign currency exchange rates on cash and cash equivalents (5,922) (9,110) 304
Net change in cash and cash equivalents 520,256 138,268 (245,834)
Cash and cash equivalents at beginning of period 981,795 843,527 1,089,361
Cash and cash equivalents at end of period 1,502,051 981,795 843,527
Cash paid during the period      
Income taxes 234,062 135,986 192,090
Interest 1,783 1,880 1,842
Operating leases 65,672 60,353 55,588
Non-cash investing activities      
Changes in accounts payable and other accrued expenses for purchases of property and equipment (6,705) 5,325 2,797
Accrued for asset retirement obligation assets related to leasehold improvements 2,278 8,203 3,900
Leasehold improvements acquired through tenant allowances 8,127 0 4,061
Non-cash financing activities      
Accrued for shares withheld for taxes 22,287 5,371 8,435
Accrued excise taxes related to repurchases of common stock $ 3,416 $ 569 $ 0