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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 188,535 $ 194,392
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 131,028 115,435
Share-based compensation 12,168 8,574
Excess tax benefits from share-based compensation (46) (182)
Other operating activities, including changes in operating assets and liabilities (267,769) (359,046)
Net cash provided by (used in) operating activities 63,916 (40,827)
Investing activities:    
Purchases of property, plant and equipment (97,552) (119,840)
Proceeds from sale of property, plant and equipment 14,592 15,814
Acquisitions of businesses (13,797) (74,127)
Proceeds from divestitures of businesses 6,282 0
Other investing activities (2,435) 23,335
Net cash used in investing activities (92,910) (154,818)
Financing activities:    
Proceeds from debt 254,755 20,011
Payments on debt (300,258) (522,352)
Net proceeds of commercial paper 263,541 772,108
Shares issued from employee incentive plans (304) (502)
Dividends paid (141,746) (134,355)
Other financing activities (19,275) (6,168)
Net cash provided by financing activities 56,713 128,742
Effect of exchange rate changes on cash and cash equivalents (4,875) 7,359
Net increase (decrease) in cash and cash equivalents 22,844 (59,544)
Cash and cash equivalents at beginning of period 477,179 479,991
Cash and cash equivalents at end of period $ 500,023 $ 420,447