v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net income $ 334,019 $ 287,773
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 47,421 50,508
Provision for credit losses 3,760 6,605
Stock-based compensation 53,005 44,028
Deferred income taxes 24,903 15,419
Excess tax benefit on stock-based compensation (27,386) (8,155)
Change in loss on disposal group 0 (569)
Other operating activities 2,176 7,254
Changes in operating elements:    
Receivables (704,333) (108,002)
Contract assets (74,457) 11,595
Prepaid expenses and other 144 (27,934)
Right of use asset 15,894 24,704
Accounts payable and outstanding checks 441,310 121,249
Accrued compensation (68,860) (64,607)
Accrued transportation expense 67,551 (5,056)
Accrued income taxes 3,400 30,866
Other accrued liabilities 6,414 (20,779)
Lease liability (18,117) (31,844)
Other assets and liabilities (2,347) 604
Net cash provided by operating activities 104,497 333,659
INVESTING ACTIVITIES    
Purchases of property and equipment (7,610) (10,640)
Purchases and development of software (25,642) (25,601)
Cash used for acquisitions, net of cash acquired (78,948) 0
Proceeds from divestiture 11,828 27,737
Net cash used for investing activities (100,372) (8,504)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 55,434 27,026
Stock tendered for payment of withholding taxes (74,566) (54,589)
Repurchase of common stock (432,183) (128,767)
Cash dividends (154,300) (152,355)
Proceeds from long-term borrowings 1,952,000 0
Payments on long-term borrowings (1,357,000) 0
Proceeds from short-term borrowings 0 1,240,800
Payments on short-term borrowings 0 (1,264,800)
Net cash used for financing activities (10,615) (332,685)
Effect of exchange rates on cash and cash equivalents 209 6,985
Net change in cash and cash equivalents, including cash and cash equivalents classified within assets held for sale (6,281) (545)
Cash and cash equivalents, beginning of period 160,871 145,762
Cash and cash equivalents, end of period $ 154,590 $ 155,993