Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

O’Reilly Automotive Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income	2,164,685)	1,752,302)	1,391,042)	1,324,487)	1,133,804)
Depreciation and amortization of property, equipment and intangibles	328,217)	314,635)	270,875)	258,937)	233,845)
Amortization of debt discount and issuance costs	4,388)	4,580)	3,916)	3,470)	2,871)
Deferred income taxes	20,383)	12,381)	21,158)	20,160)	(4,593)
Share-based compensation programs	24,656)	22,747)	21,921)	20,176)	19,401)
Other	2,128)	4,686)	7,529)	9,895)	11,790)
Accounts receivable	(47,427)	(20,515)	(15,577)	18,138)	(27,742)
Inventory	(32,634)	(198,864)	(239,912)	(163,367)	(231,802)
Accounts payable	510,911)	580,608)	213,423)	177,676)	253,265)
Income taxes payable	152,339)	197,739)	(20,139)	22,903)	14,220)
Accrued payroll	18,714)	(11,941)	14,296)	9,373)	5,430)
Accrued benefits and withholdings	9,214)	189,332)	16,868)	28,022)	3,042)
Other	51,736)	(11,087)	23,079)	(2,315)	(9,844)
Changes in operating assets and liabilities	662,853)	725,272)	(7,962)	90,430)	6,569)
Adjustments to reconcile net income to net cash provided by operating activities	1,042,625)	1,084,301)	317,437)	403,068)	269,883)
Net cash provided by operating activities	3,207,310)	2,836,603)	1,708,479)	1,727,555)	1,403,687)
Purchases of property and equipment	(442,853)	(465,579)	(628,057)	(504,268)	(465,940)
Proceeds from sale of property and equipment	9,494)	15,770)	7,118)	4,784)	4,464)
Investment in tax credit equity investments	(180,333)	(164,111)	(33,781)	—)	—)
Other	(1,928)	(975)	(142,026)	(34,818)	(2,747)
Net cash used in investing activities	(615,620)	(614,895)	(796,746)	(534,302)	(464,223)
Proceeds from borrowings on revolving credit facility	—)	1,162,000)	2,708,000)	2,414,000)	3,101,000)
Payments on revolving credit facility	—)	(1,423,000)	(2,734,000)	(2,473,000)	(2,755,000)
Proceeds from the issuance of long-term debt	—)	997,515)	499,955)	498,660)	748,800)
Principal payments on long-term debt	(300,000)	(500,000)	—)	—)	—)
Payment of debt issuance costs	(3,412)	(7,929)	(3,990)	(3,923)	(7,590)
Repurchases of common stock	(2,476,048)	(2,087,194)	(1,432,791)	(1,714,013)	(2,172,530)
Net proceeds from issuance of common stock	84,915)	62,284)	60,206)	72,146)	45,762)
Other	(313)	(253)	(191)	(2,156)	(156)
Net cash used in financing activities	(2,694,858)	(1,796,577)	(902,811)	(1,208,286)	(1,039,714)
Effect of exchange rate changes on cash	(359)	103)	169)	—)	—)
Net increase (decrease) in cash and cash equivalents	(103,527)	425,234)	9,091)	(15,033)	(100,250)
Cash and cash equivalents at beginning of the period	465,640)	40,406)	31,315)	46,348)	146,598)
Cash and cash equivalents at end of the period	362,113)	465,640)	40,406)	31,315)	46,348)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	O’Reilly Automotive Inc. net cash provided by operating activities increased from 2019 to 2020 and from 2020 to 2021.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	O’Reilly Automotive Inc. net cash used in investing activities increased from 2019 to 2020 but then slightly decreased from 2020 to 2021.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	O’Reilly Automotive Inc. net cash used in financing activities decreased from 2019 to 2020 and from 2020 to 2021.

O’Reilly Automotive Inc. (NASDAQ:ORLY)

Cash Flow Statement