Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Cash Flows

v3.25.3
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 84,057 $ 120,716
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 42,147 42,187
Non-cash lease expense 62,989 56,903
Provision for uncollectible accounts receivable 1,775 3,183
Deferred income taxes (3,779) 2,180
Share-based compensation 18,060 18,478
Impairment of goodwill and intangible assets 29,000 0
Other, net (2,463) (11,278)
Changes in operating assets and liabilities:    
Accounts receivable (184,166) (162,252)
Inventories (94,237) (50,336)
Prepaid expenses and other current assets (27,883) 5,008
Other assets (441) (195)
Accounts payable (146,916) (17,044)
Accrued liabilities (28,433) (7,823)
Income taxes payable (25,302) (22,439)
Operating lease assets and liabilities (61,754) (56,557)
Other liabilities 3,903 2,661
Net cash used in operating activities (333,443) (76,608)
Cash flows from investing activities:    
Purchases of short-term investments (261,449) (388,348)
Sales and maturities of short-term investments 547,181 751,232
Capital expenditures (46,648) (41,736)
Net cash provided by investing activities 239,084 321,148
Cash flows from financing activities:    
Proceeds from issuance of common stock related to share-based compensation 5,264 3,955
Tax payments related to share-based compensation (5,964) (4,806)
Repurchase of common stock (171,687) (230,864)
Cash dividends paid (49,461) (52,860)
Net cash used in financing activities (221,848) (284,575)
Net effect of exchange rate changes on cash 13,170 (3,604)
Net decrease in cash and cash equivalents (303,037) (43,639)
Cash and cash equivalents, beginning of period 228,832 306,680
Cash and cash equivalents, end of period 228,832 306,680
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 78,338 63,650
Supplemental disclosures of non-cash investing and financing activities:    
Property, plant and equipment acquired through increase in liabilities $ 10,323 $ 12,224