Our global components business capitalized and continued strong demand in all regions, with sales up 40% year-over-year.
As a result, global component sales reached $6.6 billion, which is an all-time record in the company's history.
Finally, I'm happy to report that we increased our share repurchase authorization by an additional $600 million.
This comes approximately one year after our last $600 million authorization and shows our continued commitment to returning cash to the shareholders at unmatched levels in our industry.
Second quarter sales increased 25% year-over-year on a non-GAAP basis.
The average euro-dollar exchange rate for the quarter was $1.21 to EUR one compared to the rate of $1.18 we had used for forecasting.
The slightly stronger euro benefited sales growth by approximately $69 million more than we anticipated.
For the full year 2021, we continue to expect our effective tax rate to be near the low end of our long-term range of 23% to 25%.
Second quarter operating cash flow was $281 million despite substantial inventory demand to fund growth.
Over the last five-, 10- and 15-year period, cash flow from operations has consistently averaged 90% of non-GAAP net income.
Our cash cycle of approximately 50 days improved by six days compared to last year.
Leverage, as measured by debt-to-EBITDA is the lowest level in nearly 10 years.
We returned approximately $250 million to shareholders during the second quarter through our share repurchase plan and this was the largest single quarter of share repurchases in our history and was enabled by our strong profits and proactive working capital management.
We remain committed to returning cash to shareholders and recently expanded the operation by $600 million.
The total authorization under our plan is approximately $663 million and we're confident that we're purchasing shares below their intrinsic value based on the increasing return on invested capital and return on working capital that we're showing in the business.

Summary:
Finally, I'm happy to report that we increased our share repurchase authorization by an additional $600 million.
This comes approximately one year after our last $600 million authorization and shows our continued commitment to returning cash to the shareholders at unmatched levels in our industry.
We remain committed to returning cash to shareholders and recently expanded the operation by $600 million.