General (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Summary of Reconciliation of Prepaid Expenses And Other Current Assets

The following table provides a detail of prepaid expenses and other current assets reported within the Condensed Consolidated Balance Sheets as of:

(in thousands)	September 30, 2023		December 31, 2022
Prepaid expenses	$	117,310	$	113,522
Consideration receivable from vendors	825,347		847,341
Other current assets	555,020		571,896
Total prepaid expenses and other current assets	$	1,497,677	$	1,532,759

Schedule of Derivative Instruments

The following table summarizes the classification and carrying amounts of the derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships (in thousands):

		September 30, 2023				December 31, 2022
Instrument	Balance Sheet Location	Notional		Balance		Notional		Balance
Net investment hedges:
Forward contracts	Prepaid expenses and other current assets	$	606,950	$	57,968	$	606,950	$	46,670
Forward contract	Other current liabilities	$	106,800	$	206	$	106,800	$	3,064
Foreign currency debt	Long-term debt	€	700,000	$	740,180	€	700,000	$	749,280

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The tables below present gains and losses related to designated net investment hedges:

	Gain Recognized in AOCL before Reclassifications				Gain Recognized in Interest Expense for Excluded Components
(in thousands)	2023		2022		2023		2022
Three Months Ended September 30,
Net investment hedges:
Forward contracts	$	19,217	$	81,454	$	3,158	$	7,965
Foreign currency debt	20,300		43,890		—		—
Total	$	39,517	$	125,344	$	3,158	$	7,965

	Gain Recognized in AOCL before Reclassifications				Gain Recognized in Interest Expense for Excluded Components
(in thousands)	2023		2022		2023		2022
Nine Months Ended September 30,
Net investment hedges:
Forward contracts	$	4,681	$	167,834	$	9,475	$	23,095
Foreign currency debt	9,100		105,840		—		—
Total	$	13,781	$	273,674	$	9,475	$	23,095

Schedule of Earnings per Share, Basic and Diluted

The following table summarizes basic and diluted shares outstanding:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2023		2022		2023		2022
Net income	$	351,198	$	312,358	$	999,649	$	930,725
Weighted average common shares outstanding	140,335		141,336		140,569		141,609
Dilutive effect of stock options and non-vested restricted stock awards	599		773		716		819
Weighted average common shares outstanding – assuming dilution	140,934		142,109		141,285		142,428
Basic earnings per share	$	2.50	$	2.21	$	7.11	$	6.57
Diluted earnings per share	$	2.49	$	2.20	$	7.08	$	6.53