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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 692,843 $ 521,571 $ 592,198
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation 29,918 36,865 38,577
Deferred income taxes 16,633 (2,693) 9,620
Depreciation 71,560 68,685 53,839
Amortization of intangibles 60,120 56,676 51,457
Asset Impairments 0 6,945 0
Observable unrealized gain on investment (9,707) 0 0
Change in operating assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable (62,448) 37,467 (22,195)
(Increase) decrease in inventories (67,250) 18,940 (31,854)
Increase in other assets (20,765) (27,030) (10,918)
Decrease (increase) in other assets 4,490 (37,865) (16,470)
Increase in accounts payable and other current liabilities 46,110 140,598 9,784
Increase in deferred revenue and customer advances 37,845 11,073 12,189
Effect of the 2017 Tax Cuts and Jobs Act 0 0 (3,229)
Decrease in other liabilities (52,075) (40,725) (39,911)
Net cash provided by operating activities 747,274 790,507 643,087
Cash flows from investing activities:      
Additions to property, plant, equipment and software capitalization (161,266) (172,384) (163,823)
Asset and business acquisitions, net of cash acquired 0 (80,545) 0
Investment in unaffiliated company (1,788) (6,143) (8,843)
Payments for intellectual property licenses (7,000) 0
Purchases of investments (279,660) (25,884) (36,951)
Maturities and sales of investments 218,084 20,862 978,419
Net cash (used in) provided by investing activities (231,630) (264,094) 768,802
Cash flows from financing activities:      
Proceeds from debt issuances 510,000 315,000 925,670
Payments on debt (350,000) (640,366) (390,482)
Payments of debt issuance costs (8,537) 0 (2,932)
Proceeds from stock plans 55,643 66,033 53,715
Purchases of treasury shares (648,930) (196,409) (2,469,258)
Proceeds from derivative contracts 3,549 15,240 10,609
Net cash used in financing activities (438,275) (440,502) (1,872,678)
Effect of exchange rate changes on cash and cash equivalents (12,830) 15,069 224
Increase (decrease) in cash and cash equivalents 64,539 100,980 (460,565)
Cash and cash equivalents at beginning of period 436,695 335,715 796,280
Cash and cash equivalents at end of period 501,234 436,695 335,715
Supplemental cash flow information:      
Income taxes paid 153,504 97,621 87,998
Interest paid $ 42,408 $ 52,103 $ 42,843