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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 642,234 $ 707,755 $ 692,843
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation 36,868 42,564 29,918
Deferred income taxes (1,197) (31,988) 16,633
Depreciation 84,625 71,998 71,560
Amortization of intangibles 81,280 58,425 60,120
Observable unrealized gain on investment 0 0 (9,707)
Realized gain on sale of investment (742) 0 0
In-process research and development and other non-cash charges 0 10,003 0
Change in operating assets and liabilities, net of acquisitions:      
Decrease (increase) in accounts receivable 49,179 (137,874) (62,448)
Increase in inventories (45,443) (101,902) (67,250)
Increase in other current assets (43,164) (23,074) (20,765)
(Increase) decrease in other assets (26,264) (5,514) 4,490
(Decrease) increase in accounts payable and other current liabilities (79,524) 60,984 46,110
Increase in deferred revenue and customer advances 10,433 12,862 37,845
Decrease in other liabilities (105,476) (52,578) (52,075)
Net cash provided by operating activities 602,809 611,661 747,274
Cash flows from investing activities:      
Additions to property, plant, equipment and software capitalization (160,632) (175,921) (161,266)
Asset and business acquisitions, net of cash acquired (1,282,354) 0 0
Proceeds from (investments in) equity investments, net 742 8,903 (1,788)
Payments for intellectual property licenses 0 (7,535) (7,000)
Purchases of investments (1,791) (11,407) (279,660)
Maturities and sales of investments 1,770 77,993 218,084
Net cash used in investing activities (1,442,265) (107,967) (231,630)
Cash flows from financing activities:      
Proceeds from debt issuances 1,450,040 205,000 510,000
Payments on debt (670,040) (145,000) (350,000)
Payments of debt issuance costs (400) 0 (8,537)
Proceeds from stock plans 29,792 42,801 55,643
Purchases of treasury shares (70,277) (626,061) (648,930)
Proceeds from derivative contracts 15,836 13,627 3,549
Net cash provided by (used in) financing activities 754,951 (509,633) (438,275)
Effect of exchange rate changes on cash and cash equivalents (948) (14,766) (12,830)
(Decrease) increase in cash and cash equivalents (85,453) (20,705) 64,539
Cash and cash equivalents at beginning of period 480,529 501,234 436,695
Cash and cash equivalents at end of period 395,076 480,529 501,234
Supplemental cash flow information:      
Income taxes paid 243,316 160,082 153,504
Interest paid $ 94,099 $ 48,083 $ 42,408