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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:    
Net income $ 438,877 $ 438,290
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 62,097 56,186
Impairment charge 250 0
Provision for credit losses 3,743 3,857
Deferred income taxes (22,021) (12,932)
Share-based compensation expense 30,119 29,292
Other 967 (157)
Changes in assets and liabilities:    
Accounts receivable (82,981) (61,158)
Inventories (6,213) (38,906)
Other assets and liabilities 18,783 (24,236)
Accounts payable 3,802 (4,155)
Deferred revenue (526) (1,855)
Net cash provided by operating activities 446,897 384,226
Cash Flows from Investing Activities:    
Purchases of property and equipment (63,578) (66,981)
Acquisitions of a business (77,000) 0
Proceeds from net investment hedges 727 0
Net cash used by investing activities (139,851) (66,981)
Cash Flows from Financing Activities:    
Repayments under credit facility, net 0 (315,000)
Payments of acquisition-related holdbacks 0 (1,780)
Repurchases of common stock, net (370,285) 0
Proceeds from exercises of stock options and employee stock purchase plans 26,241 23,086
Shares withheld for statutory tax withholding payments on restricted stock (10,268) (9,676)
Other 0 6,256
Net cash used by financing activities (354,312) (297,114)
Net effect of changes in exchange rates on cash (5,076) 161
Net (decrease) increase in cash and cash equivalents (52,342) 20,292
Cash and cash equivalents at beginning of period 453,932 112,546
Cash and cash equivalents at end of period 401,590 132,838
Supplemental Cash Flow Information:    
Cash paid for income taxes 90,918 97,127
Unpaid property and equipment, reflected in accounts payable and accrued liabilities $ 8,322 $ 15,448