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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 333,786 $ 639,640
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 136,549 111,946
Deferred income taxes (21,469) (7,398)
Stock-based compensation expense 11,026 8,841
Other non-cash adjustments 1,645 2,037
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Receivables 108,561 (549,712)
Inventories 101,745 (561,813)
Contract assets 7,583 (33,081)
Other current assets 8,143 (27,860)
Other assets and liabilities 1,734 407
Accounts payable 139,545 470,198
Accrued liabilities (174,994) 93,237
Contract liabilities 527 33,380
Net cash provided by operating activities 654,381 179,822 Close
Cash flows from investing activities:    
Cash used for acquisitions (78,970)  
Purchases of property, plant and equipment (105,645) (50,475)
Proceeds from sale of property, plant and equipment 5,755 2,140
Net cash used in investing activities (178,860) (48,335) Close
Cash flows from financing activities:    
Borrowings under revolving credit facility 1,267,000 1,906,000
Repayments under revolving credit facility (1,050,000) (1,738,000)
Proceeds from long-term debt and other loans   301,500
Repayments of long-term debt and other loans (1,048) (827)
Payments of loan costs (1,180) (6,416)
Exercise of stock options 315 420
Repurchase of common stock (626,646) (354,965)
Net cash (used in) provided by financing activities (411,559) 107,712 Close
Net change in cash and cash equivalents 63,962 239,199 Close
Cash and cash equivalents at beginning of period 80,445 42,603
Cash and cash equivalents at end of period 144,407 281,802
Supplemental disclosures of cash flow information:    
Cash paid for interest 50,309 52,528
Cash paid for income taxes 3,548 202
Supplemental disclosures of non-cash activities:    
Non-cash or accrued consideration for acquisitions 5,600  
Accrued purchases of property, plant and equipment 3,991 6,024
Right-of-use assets obtained in exchange for operating lease obligations 20,869 14,918
Amounts accrued for repurchases of common stock $ 68,262 $ 11,917