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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 303,957 $ 245,838
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87,215 87,369
Share-based compensation 8,646 7,171
Excess tax benefits from share-based compensation (584) (714)
Changes in operating assets and liabilities (201,727) 59,144
Net cash provided by operating activities 197,507 398,808
Investing activities:    
Purchases of property, plant and equipment (88,100) (78,045)
Proceeds from sale of property, plant and equipment 1,971 5,895
Proceeds from sale of investments 80,482 0
Acquisitions and other investing activities (39,589) (1,348,795)
Net cash used in investing activities (45,236) (1,420,945)
Financing activities:    
Proceeds from debt 693,400 2,890,000
Payments on debt (652,138) (1,784,585)
Shares issued from employee incentive plans (1,265) (1,063)
Dividends paid (126,191) (115,876)
Purchases of stock (67,501) (72,919)
Other financing activities (4,118) (1,593)
Net cash (used in) provided by financing activities (157,813) 913,964
Effect of exchange rate changes on cash and cash equivalents 3,262 4,248
Net decrease in cash and cash equivalents (2,280) (103,925)
Cash and cash equivalents at beginning of period 653,463 714,701
Cash and cash equivalents at end of period $ 651,183 $ 610,776