Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net earnings $ 336,660 $ 393,033
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities    
Depreciation and amortization 110,688 100,658
Provision for bad debts and returns 22,212 21,504
Stock compensation 44,018 41,350
Deferred income taxes 1,909 (8,393)
Net foreign currency adjustments 17,266 (2,022)
Changes in operating assets and liabilities    
Receivables (287,470) (179,108)
Inventory (380,877) (221,366)
Other assets 15,082 (5,937)
Accounts payable 91,901 106,202
Other liabilities (14,230) 7,317
Net cash (used in) provided by operating activities (42,841) 253,238
Cash flows from investing activities    
Capital expenditures (263,631) (235,626)
Purchases of investments (43,527) (168,892)
Proceeds from sales and maturities of investments 114,469 148,442
Net cash used in investing activities (192,689) (256,076)
Cash flows from financing activities    
Net proceeds from the employee stock purchase plan 4,836 4,027
Repayments on long-term borrowings (30,408) (477,909)
Proceeds from long-term borrowings 52,431 72,746
Net proceeds from (repayments on) short-term borrowings 29,818 (2,977)
Payments for employee taxes related to stock compensation (17,512) (309)
Repurchases of common stock (74,245) 0
Purchase of noncontrolling interests 0 (9,928)
Contributions from noncontrolling interests 0 6,731
Distributions to noncontrolling interests (13,541) (7,876)
Net cash used in financing activities (48,621) (415,495)
Effect of exchange rate changes on cash and cash equivalents (3,851) (417)
Net change in cash and cash equivalents (288,002) (418,750)
Cash and cash equivalents at beginning of the period 796,283 1,370,826
Cash and cash equivalents at end of the period 508,281 952,076
Cash paid during the period for    
Interest 13,857 10,620
Income taxes, net 73,320 96,710
Non-cash transactions    
ROU assets exchanged for lease liabilities $ 199,646 $ 144,729