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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net Income $ 101,699 $ 179,261
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Depreciation 7,632 7,663
Amortization 2,135 2,192
Share-based compensation 4,923 3,657
Equity in earnings of unconsolidated investments, net (36) (58)
Other 2,732 5,777
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (211,015) (303,400)
Product inventories (96,011) (306,582)
Prepaid expenses and other assets (5,786) (23,330)
Accounts payable 332,800 287,449
Accrued expenses and other liabilities (35,870) (60,738)
Net Cash Provided by operating activities 103,203 (208,109)
Investing activities    
Acquisition of businesses, net of cash acquired (1,760) 0
Purchases of property and equipment, net of sale proceeds (15,570) (9,159)
Other Investments (230) 0
Net cash used in investing activities (17,560) (9,159)
Financing activities    
Proceeds from revolving line of credit 256,079 564,288
Payments on revolving line of credit (376,895) (604,960)
Proceeds from Long-term Lines of Credit 0 250,000
Proceeds from asset-backed financing 151,200 155,000
Payments on asset-backed financing (51,100) (50,000)
Payments on term facility (2,313) (2,313)
Proceeds from short-term borrowings and current portion of long-term debt 3,011 10,277
Payments on short-term borrowings and current portion of long-term debt (1,223) (784)
Payments of deferred and contingent acquisition consideration (551) (1,374)
Proceeds from stock issued under share-based compensation plans 5,896 3,135
Payments of cash dividends (39,073) (32,132)
Purchases of treasury stock (50,549) (62,420)
Net cash used in financing activities (105,518) 228,717
Effect of exchange rate changes on cash and cash equivalents 754 (405)
Change in cash and cash equivalents (19,121) 11,044
Cash and cash equivalents at beginning of period 45,591 24,321
Cash and cash equivalents at end of period $ 26,470 $ 35,365