v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES    
Net income $ 139,203 $ 115,625
Reconciliation of net income to net cash provided by (used in) operating activities:    
Depreciation, amortization, and accretion 19,424 17,061
Amortization on cloud computing arrangements 556 465
Bad debt expense (benefit) 597 (3,291)
Deferred tax (benefit) expense (713) 170
Stock-based compensation 8,739 8,346
Loss on disposal of assets 22 79
Changes in operating assets and liabilities:    
Trade accounts receivable, net (44,199) (3,272)
Inventories (354,125) (278,972)
Prepaid expenses and other current assets (8,817) 39,816
Income tax receivable 21,254 14,079
Net operating lease assets and lease liabilities 1,925 (486)
Other assets (8,438) (4,073)
Trade accounts payable 314,845 266,679
Other accrued expenses (66,301) (71,398)
Income tax payable (565) 4,340
Other long-term liabilities 12,739 7,482
Net cash provided by operating activities 36,146 112,650
INVESTING ACTIVITIES    
Purchases of property and equipment (23,940) (22,521)
Proceeds from sale of assets 11 0
Net cash used in investing activities (23,929) (22,521)
FINANCING ACTIVITIES    
Proceeds from exercise of stock options 0 601
Repurchases of common stock (182,991) (151,967)
Cash paid for shares withheld for taxes (237) (495)
Net cash used in financing activities (183,228) (151,861)
Effect of foreign currency exchange rates on cash and cash equivalents 2,239 (1,922)
Net change in cash and cash equivalents (168,772) (63,654)
Cash and cash equivalents at beginning of period 1,889,188 1,502,051
Cash and cash equivalents at end of period 1,720,416 1,438,397
Cash paid during the period    
Income taxes 16,923 14,998
Interest 780 414
Operating leases 20,437 16,339
Non-cash investing activities    
Changes in trade accounts payable and other accrued expenses for purchases of property and equipment 80 (2,582)
Accrued for asset retirement obligation assets related to leasehold improvements 214 975
Non-cash financing activities    
Accrued excise taxes related to repurchases of common stock $ 1,627 $ 1,181