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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Consolidated net income $ 393,507 $ 909,363 $ 1,435,158
Adjustments to reconcile consolidated net income to net cash provided by (used for) operations:      
Depreciation and amortization 162,994 181,116 187,382
Amortization of stock-based compensation 34,631 41,569 42,930
Equity in earnings of affiliated companies (1,368) (6,407) (7,664)
Deferred income taxes (99,866) (93,980) (13,050)
Loss on extinguishment of debt 1,657 0 0
Loss (gain) on investments, net 5,260 (12,466) 2,857
Other 5,328 22,590 3,612
Change in assets and liabilities, net of effects of acquired businesses:      
Accounts receivable, net (1,013,091) 189,425 (1,430,400)
Inventories 421,063 139,313 (1,165,785)
Accounts payable 1,092,488 (457,382) 945,819
Accrued expenses (140,871) 38,601 102,193
Other assets and liabilities 268,681 (246,293) (136,129)
Net cash provided by (used for) operating activities 1,130,413 705,449 (33,077)
Cash flows from investing activities:      
Acquisition of property, plant, and equipment (92,703) (83,285) (78,836)
Proceeds from sale of property, plant, and equipment 5,157 0 0
Cash consideration paid for acquired businesses, net of cash acquired (34,834) 0 0
Proceeds from collections of notes receivable 0 237 21,125
Proceeds from settlement of net investment hedge 10,635 10,725 0
Other 17,303 0 0
Net cash used for investing activities (94,442) (72,323) (57,711)
Cash flows from financing activities:      
Change in short-term and other borrowings (1,155,909) 866,012 258,816
Proceeds from (repayments of) long-term bank borrowings, net 470,347 (1,031,881) 1,233,250
Redemption of notes (1,000,000) (300,000) (350,000)
Net proceeds from note offering 989,564 496,268 0
Proceeds from exercise of stock options 5,354 17,010 17,340
Repurchases of common stock (265,142) (770,200) (1,049,487)
Settlement of forward-starting interest rate swap 0 56,711 0
Other (1,041) (142) (137)
Net cash (used for) provided by financing activities (956,827) (666,222) 109,782
Effect of exchange rate changes on cash (108,390) 74,234 (64,273)
Net (decrease) increase in cash and cash equivalents (29,246) 41,138 (45,279)
Cash and cash equivalents at beginning of year 218,053 176,915 222,194
Cash and cash equivalents at end of year $ 188,807 $ 218,053 $ 176,915