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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 648,451 $ 618,367
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 178,088 173,259
Share-based compensation 36,945 17,882
Excess tax benefits from share-based compensation (6,431) (3,137)
Gain on sale of real estate 0 (102,803)
Changes in operating assets and liabilities (400,050) 87,417
Net cash provided by operating activities 457,003 790,985
Investing activities:    
Purchases of property, plant and equipment (205,336) (152,976)
Proceeds from sale of property, plant and equipment 4,762 140,841
Proceeds from sale of investments 80,482 0
Acquisitions and other investing activities (106,028) (1,531,318)
Net cash used in investing activities (226,120) (1,543,453)
Financing activities:    
Proceeds from debt 1,668,757 3,850,642
Payments on debt (1,602,138) (2,872,124)
Shares issued from employee incentive plans (23,155) (14,420)
Dividends paid (259,929) (242,767)
Purchases of stock (134,849) (122,919)
Other financing activities (6,436) (13,901)
Net cash provided by (used in) financing activities (357,750) 584,511
Effect of exchange rate changes on cash and cash equivalents 3,509 (27,613)
Net decrease in cash and cash equivalents (123,358) (195,570)
Cash and cash equivalents at beginning of period 653,463 714,701
Cash and cash equivalents at end of period $ 530,105 $ 519,131