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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 707,755 $ 692,843 $ 521,571
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation 42,564 29,918 36,865
Deferred income taxes (31,988) 16,633 (2,693)
Depreciation 71,998 71,560 68,685
Amortization of intangibles 58,425 60,120 56,676
Asset Impairments 0 0 6,945
Observable unrealized gain on investment 0 (9,707) 0
In-process research and development and other non-cash charges 10,003 0 0
Change in operating assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable (137,874) (62,448) 37,467
(Increase) decrease in inventories (101,902) (67,250) 18,940
Increase in other current assets (23,074) (20,765) (27,030)
(Increase) decrease in other assets (5,514) 4,490 (37,865)
Increase in accounts payable and other current liabilities 60,984 46,110 140,598
Increase in deferred revenue and customer advances 12,862 37,845 11,073
Decrease in other liabilities (52,578) (52,075) (40,725)
Net cash provided by operating activities 611,661 747,274 790,507
Cash flows from investing activities:      
Additions to property, plant, equipment and software capitalization (175,921) (161,266) (172,384)
Asset and business acquisitions, net of cash acquired 0 0 (80,545)
Proceeds from (investments in) equity investments, net 8,903 (1,788) (6,143)
Payments for intellectual property licenses (7,535) (7,000)
Purchases of investments (11,407) (279,660) (25,884)
Maturities and sales of investments 77,993 218,084 20,862
Net cash used in investing activities (107,967) (231,630) (264,094)
Cash flows from financing activities:      
Proceeds from debt issuances 205,000 510,000 315,000
Payments on debt (145,000) (350,000) (640,366)
Payments of debt issuance costs 0 (8,537) 0
Proceeds from stock plans 42,801 55,643 66,033
Purchases of treasury shares (626,061) (648,930) (196,409)
Proceeds from derivative contracts 13,627 3,549 15,240
Net cash used in financing activities (509,633) (438,275) (440,502)
Effect of exchange rate changes on cash and cash equivalents (14,766) (12,830) 15,069
(Decrease) increase in cash and cash equivalents (20,705) 64,539 100,980
Cash and cash equivalents at beginning of period 501,234 436,695 335,715
Cash and cash equivalents at end of period 480,529 501,234 436,695
Supplemental cash flow information:      
Income taxes paid 160,082 153,504 97,621
Interest paid $ 48,083 $ 42,408 $ 52,103