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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 27, 2024
Sep. 29, 2023
Cash Flows from Operating Activities:    
Net income $ 454,177 $ 332,539
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense from property, plant and equipment and financing leases 125,593 113,664
Amortization of intangible assets and deferred proceeds, net 17,586 17,632
Fair value adjustment of acquisition related contingent consideration 90,877 86,038
Deferred income taxes (18,030) (34,881)
Loss on sale of property, plant and equipment 4,081 5,863
Amortization of debt costs 1,496 742
Pension plan settlement expense 0 117,096
Change in current assets less current liabilities 55,763 35,791
Change in other noncurrent assets 7,595 13,417
Change in other noncurrent liabilities (31,245) (43,352)
Total adjustments 253,716 312,010
Net cash provided by operating activities 707,893 644,549
Cash Flows from Investing Activities:    
Additions to property, plant and equipment (287,333) (152,260)
Purchases of short-term investments (283,488) 0
Proceeds from the disposal of short-term investments 72,232 0
Investment in equity method investees (9,794) (9,044)
Proceeds from the sale of property, plant and equipment 425 441
Net cash used in investing activities (507,958) (160,863)
Cash Flows from Financing Activities:    
Proceeds from bond issuance 1,200,000 0
Payments related to share repurchases (574,009) 0
Cash dividends paid (163,733) (42,182)
Payments of acquisition related contingent consideration (44,243) (20,979)
Debt issuance fees (15,365) (244)
Payments on financing lease obligations (1,848) (1,712)
Net cash provided by (used in) financing activities 400,802 (65,117)
Net increase in cash during period 600,737 418,569
Cash at beginning of period 635,269 197,648
Cash at end of period 1,236,006 616,217
Significant non-cash investing and financing activities:    
Additions to property, plant and equipment accrued and recorded in accounts payable, trade 34,791 32,388
Right-of-use assets obtained in exchange for operating lease obligations $ 1,299 $ 4,253