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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows - operating activities:    
Net income $ 542,837 $ 444,721
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,139 27,408
Amortization of identifiable intangible assets 56,452 36,412
Provision for credit losses 9,029 12,251
Non-cash share-based compensation expense 13,092 11,371
Other reconciling items (4,442) (5,240)
Changes in operating assets and liabilities, excluding the effect of businesses acquired (346,949) (114,965)
Net cash provided by operating activities 302,158 411,958
Cash flows - investing activities:    
Payments for acquisitions of businesses, net of cash acquired (887,237) (173,265)
Proceeds from sale or disposal of property, plant, and equipment 2,586 1,655
Purchases of property, plant, and equipment (54,174) (39,529)
Net cash used in investing activities (938,825) (211,139)
Cash flows - financing activities:    
Proceeds from revolving credit facility 525,000 0
Repayments of revolving credit facility (275,000) 0
Repayments of finance lease liabilities (1,433) (1,393)
Dividends paid to stockholders (22,640) (20,219)
Repurchases of common stock (432,165) (149,009)
Taxes paid related to net share settlements of equity awards (13,541) (11,766)
Issuances of common stock under employee stock purchase plan 0 943
Payments for contingent consideration arrangements (11,346) 0
Net cash used in financing activities (231,125) (181,444)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 14,558 (927)
(Decrease) increase in cash, cash equivalents, and restricted cash (853,234) 18,448
Cash, cash equivalents, and restricted cash at beginning of year (1) [1] 1,340,395 789,750
Cash, cash equivalents, and restricted cash at end of period (2) [2] $ 487,161 $ 808,198
[1] Includes $0.8 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheet as of December 31, 2024.
[2] Includes $1.2 million and $0.9 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheet as of June 30, 2025 and 2024, respectively.