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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Net income $ 178,438 $ (285)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87,913 34,848
Stock-based compensation expense 13,179 9,527
Amortization of Debt Issuance Costs and Discounts 9,197 2,058
Gain (Loss) on Disposition of Business (8,927) 0
Deferred income taxes (2,959) 1,062
Other operating activities, net 3,365 (4,079)
Changes in assets and liabilities    
Increase (Decrease) in Accounts Receivable 372,287 (29,302)
Increase (Decrease) in Accounts and Other Receivables (25,394) 20,476
Inventories, net (268,272) 55,431
Increase (Decrease) in Other Operating Assets (14,291) (28,078)
Accounts payable 474,918 (83,085)
Accrued payroll and benefit costs 1,911 1,701
Other current and noncurrent liabilities 26,004 93,810
Net cash provided by operating activities 102,795 132,688
Investing Activities:    
Capital expenditures (20,191) (27,163)
Payments to Acquire Businesses, Gross 0 (3,708,325)
Proceeds from Divestiture of Businesses, Net of Cash Divested 54,346 0
Other investing activities (1,801) 7,533
Net cash used in investing activities 32,354 (3,727,955)
Financing Activities:    
Proceeds from (Repayments of) Short-term Debt (10,763) (10,526)
Repayments of Senior Debt 500,000 0
Proceeds from issuance of long-term debt 1,557,827 4,391,782
Repayments of Other Long-term Debt 1,282,842 580,619
Payments for Repurchase of Common Stock (12,433) (2,025)
Payments of Dividends (28,704) 0
Payments of Debt Issuance Costs (1,849) (79,490)
Other financing activities, net (10,918) (6,115)
Net cash used in financing activities (289,682) 3,713,007
Effect of exchange rate on cash and cash equivalents (6,711) (3,420)
Cash and cash equivalents at the beginning of period 449,135 150,902
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (161,244) 114,320
Cash and cash equivalents at the end of period 287,891 265,222
Interest Paid, Including Capitalized Interest, Operating and Investing Activities 128,211 29,828
Income Taxes Paid 40,883 9,894
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 56,748 $ 73,137