Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Shareholders' Equity

Schedule of changes in accumulated other comprehensive loss, excluding noncontrolling interests

			Gain		Gain
			(Loss) on Foreign		(Loss) on
	Foreign		Exchange		Interest Rate
	Currency		Contracts		Swaps
	Translation		Designated as		Designated as		Employee
	Adjustment and		Net Investment		Cash Flow		Benefit Plan
(thousands)	Other, Net		Hedges, Net		Hedges, Net		Items, Net		Total
Balance as of December 31, 2021	$	(192,939)	$	11,332	$	(809)	$	(9,241)	$	(191,657)
Other comprehensive income (loss) before reclassifications (a)		(228,303)		15,474		25,937		17,245		(169,647)
Amounts reclassified into income		(1,469)		(6,695)		2,727		1,479		(3,958)
Net change in accumulated other comprehensive income (loss) for the year ended December 31, 2022		(229,772)		8,779		28,664		18,724		(173,605)
Balance as of December 31, 2022		(422,711)		20,111		27,855		9,483		(365,262)
Other comprehensive income (loss) before reclassifications (a)		72,949		(2,276)		585		(1,011)		70,247
Amounts reclassified into income		720		(5,676)		2,198		(266)		(3,024)
Net change in accumulated other comprehensive income (loss) for the year ended December 31, 2023		73,669		(7,952)		2,783		(1,277)		67,223
Balance as of December 31, 2023	$	(349,042)	$	12,159	$	30,638	$	8,206	$	(298,039)

(a) Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $21.2 million and ($21.6) million for 2023 and 2022, respectively.

Schedule of activity in the number of shares outstanding

			Common
	Common	Treasury	Stock
(thousands)	Stock Issued	Stock	Outstanding
Common stock outstanding at December 31, 2020	125,424	50,581	74,843
Shares issued for stock-based compensation awards	—	(945)	945
Repurchases of common stock	—	7,722	(7,722)
Common stock outstanding at December 31, 2021	125,424	57,358	68,066
Shares issued for stock-based compensation awards	—	(525)	525
Repurchases of common stock	—	9,342	(9,342)
Common stock outstanding at December 31, 2022	125,424	66,175	59,249
Shares issued for stock-based compensation awards	—	(653)	653
Repurchases of common stock	—	6,091	(6,091)
Retirement of treasury shares	(67,733)	(67,733)	—
Common stock outstanding at December 31, 2023	57,691	3,880	53,811

Schedule of company's share-repurchase program

					Approximate
					Dollar Value of
	Dollar Value		Dollar Value of		Shares that May
	Approved for		Shares		Yet be Purchased
Share-Repurchase Details by Month of Board Approval (thousands)	Repurchase		Repurchased		Under the Program
July 2021	$	600,000	$	600,000	$	—
December 2021		600,000		600,000		—
September 2022		600,000		600,000		—
January 2023		1,000,000		423,846		576,154
Total (a)	$	2,800,000	$	2,223,846	$	576,154

(a) The dollar value of shares repurchased includes an accrual of $6.6 million for excise taxes during 2023 which is recorded within “Treasury Stock” on the company’s consolidated balance sheets.