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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 118,487 $ 123,415
Adjustments to reconcile Net income to Net cash provided by operating activities:    
Rationalization and asset impairment net charges 0 64
Depreciation and amortization 23,784 21,586
Deferred income taxes (5,838) (7,348)
Stock-based compensation 8,352 14,190
Other, net 282 5,104
Changes in operating assets and liabilities, net of effects from acquisitions:    
Increase in accounts receivable (34,108) (9,603)
Increase in inventories (20,167) (9,416)
Decrease in other current assets 2,057 3,331
Increase in trade accounts payable 64,884 3,957
Increase (decrease) in other current liabilities 21,206 (8,121)
Net change in other assets and liabilities 6,754 (3,865)
NET CASH PROVIDED BY OPERATING ACTIVITIES 185,693 133,294
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (26,949) (26,256)
Proceeds from sale of property, plant and equipment 4,646 316
NET CASH USED BY INVESTING ACTIVITIES (22,303) (25,940)
CASH FLOWS FROM FINANCING ACTIVITIES    
(Payments on) proceeds from short-term borrowings (904) 2,016
Payments on long-term borrowings (169) (169)
Proceeds from exercise of stock options 6,254 24,438
Purchase of shares for treasury (106,694) (110,405)
Cash dividends paid to shareholders (42,975) (41,280)
NET CASH USED BY FINANCING ACTIVITIES (144,488) (125,400)
Effect of exchange rate changes on Cash and cash equivalents (1,459) (763)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 17,443 (18,809)
Cash and cash equivalents at beginning of period 377,262 393,787
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 394,705 $ 374,978