v3.21.2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 197,147 $ 12,257
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation, amortization, and non-cash lease expense 84,509 102,283
Provision for uncollectible accounts receivable (9,088) 24,684
Loss on disposal or impairment of property, plant and equipment and right-of-use assets 366 8,981
Deferred income taxes (8,731) 4,306
Stock-based compensation 14,487 12,802
Changes in operating assets and liabilities:    
Accounts receivable (44,500) (17,130)
Inventories, net (173,761) (160,090)
Prepaid expenses and other current assets (40,957) 9,098
Other assets 148 (20,786)
Accounts payable 22,014 (89,790)
Accrued liabilities 24,813 (41,182)
Income taxes payable (14,621) (10,011)
Operating lease assets and liabilities (68,823) (41,459)
Other liabilities 1,359 8,077
Net cash used in operating activities (15,638) (197,960)
Cash flows from investing activities:    
Purchases of short-term investments 0 (35,044)
Sales and maturities of short-term investments 1,184 36,630
Capital expenditures (20,413) (25,164)
Net cash used in investing activities (19,229) (23,578)
Cash flows from financing activities:    
Proceeds from credit facilities 29,508 387,992
Repayments on credit facilities (29,313) (388,465)
Payment of line of credit issuance fees 0 (2,096)
Proceeds from issuance of common stock related to stock-based compensation 24,329 4,793
Tax payments related to stock-based compensation (5,715) (4,454)
Repurchase of common stock (118,580) (132,889)
Cash dividends paid (51,662) (17,195)
Net cash used in financing activities (151,433) (152,314)
Net effect of exchange rate changes on cash (4,946) 1,272
Net decrease in cash and cash equivalents (191,246) (372,580)
Cash and cash equivalents, beginning of period 790,725 686,009
Cash and cash equivalents, end of period 599,479 313,429
Supplemental disclosures of cash flow information:    
Cash paid during the year for income taxes 87,709 18,385
Supplemental disclosures of non-cash investing and financing activities:    
Property, plant and equipment acquired through increase in liabilities 8,277 4,774
Repurchases of common stock not settled $ 8,628 $ 0

Source