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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 999,649 $ 930,725
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 261,948 259,822
Share-based compensation 47,340 27,773
Excess tax benefits from share-based compensation (6,770) (3,868)
Gain on sale of real estate 0 (102,803)
Changes in operating assets and liabilities (219,721) 132,942
Net cash provided by operating activities 1,082,446 1,244,591
Investing activities:    
Purchases of property, plant and equipment (349,858) (243,998)
Proceeds from sale of property, plant and equipment 7,339 141,228
Proceeds from sale of investments 80,482 0
Acquisitions and other investing activities (211,392) (1,554,192)
Net cash used in investing activities (473,429) (1,656,962)
Financing activities:    
Proceeds from debt 2,543,882 4,547,511
Payments on debt (2,544,619) (3,586,954)
Shares issued from employee incentive plans (23,689) (15,444)
Dividends paid (393,420) (369,483)
Purchases of stock (172,347) (172,727)
Other financing activities (8,826) (16,869)
Net cash provided by (used in) financing activities (599,019) 386,034
Effect of exchange rate changes on cash and cash equivalents (8,824) (59,166)
Net increase (decrease) in cash and cash equivalents 1,174 (85,503)
Cash and cash equivalents at beginning of period 653,463 714,701
Cash and cash equivalents at end of period $ 654,637 $ 629,198