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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows provided by (used in) operating activities:    
Net income $ 274,049 $ 248,623
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 185,968 163,454
Rationalization charges 13,026 7,247
Stock compensation expense 15,605 13,880
Loss on early extinguishment of debt 883 1,481
Other changes that provided (used) cash, net of effects from acquisitions:    
Trade accounts receivable, net (415,331) (311,008)
Inventories (78,738) 2,435
Trade accounts payable 62,303 (73,814)
Accrued liabilities (33,488) 57,187
Other, net (30,055) 8,981
Net cash (used in) provided by operating activities (5,778) 118,466
Cash flows provided by (used in) investing activities:    
Purchase of businesses, net of cash acquired (718,430) (940,875)
Capital expenditures (172,994) (165,163)
Other, net 2,234 999
Net cash used in investing activities (889,190) (1,105,039)
Cash flows provided by (used in) financing activities:    
Borrowings under revolving loans 1,155,199 993,406
Repayments under revolving loans (248,310) (748,539)
Proceeds from issuance of long-term debt 499,725 1,639,661
Repayments of long-term debt (500,000) (766,170)
Changes in outstanding checks - principally vendors (84,216) (79,006)
Dividends paid on common stock (47,030) (40,432)
Debt issuance costs (4,909) (10,265)
Repurchase of common stock (8,573) (13,155)
Net cash provided by financing activities 761,886 975,500
Effect of exchange rate changes on cash and cash equivalents (5,832) 1,008
Cash and cash equivalents:    
Net decrease (138,914) (10,065)
Balance at beginning of year 409,481 203,824
Balance at end of period 270,567 193,759
Interest paid, net 79,107 70,948
Income taxes paid, net $ 79,812 $ 91,378