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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 618,367 $ 414,206
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 173,259 146,256
Share-based compensation 17,882 14,521
Gain on sale of real estate (102,803) 0
Intangible asset impairment 17,061 0
Excess tax benefits from share-based compensation (3,137) (6,627)
Changes in operating assets and liabilities 70,356 136,074
Net cash provided by operating activities 790,985 704,430
Investing activities:    
Purchases of property, plant and equipment (152,976) (89,993)
Proceeds from sale of property, plant and equipment 140,841 22,065
Proceeds from divestitures of businesses 26,102 13,705
Acquisitions of businesses and other investing activities (1,557,420) (97,168)
Net cash used in investing activities (1,543,453) (151,391)
Financing activities:    
Proceeds from debt 3,850,642 31,599
Payments on debt (2,872,124) (142,295)
Share-based awards exercised (14,420) (19,330)
Dividends paid (242,767) (231,627)
Purchases of stock (122,919) (184,365)
Other financing activities (13,901) (2,159)
Net cash provided by (used in) financing activities 584,511 (548,177)
Effect of exchange rate changes on cash and cash equivalents (27,613) (7,639)
Net decrease in cash and cash equivalents (195,570) (2,777)
Cash and cash equivalents at beginning of period 714,701 990,166
Cash and cash equivalents at end of period $ 519,131 $ 987,389