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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 1,313,188 $ 1,159,542 $ 990,053
Adjustments to reconcile net income to total operating activities:      
Depreciation and amortization 337,636 319,427 292,112
Deferred income taxes (91,903) (67,818) (29,762)
Share-based compensation expense 46,199 47,375 46,103
Gain on sale of business/investment 0 (3,584) (6,349)
Gain on sale of facilities (120) (7,054) 0
Changes in assets and liabilities, net of acquisitions:      
Decrease (increase) in receivables 8,451 (86,713) (172,791)
Decrease (increase) in inventories and other current assets 56,619 (322,467) (129,593)
Increase in payables, accruals and income taxes 10,433 95,481 212,101
Increase (decrease) in other long-term liabilities 67,283 47,226 (35,104)
Pension contributions (8,671) (8,959) (10,277)
Other, net (3,819) (23,083) 3,964
Total operating activities 1,735,296 1,149,373 1,160,457
Investing activities:      
Additions to property, plant and equipment (136,249) (139,005) (110,671)
Purchases of businesses, net of cash acquired (2,237,910) (429,714) (1,959,218)
Proceeds from sale of business/investment 0 3,734 12,000
Proceeds from sale of facilities 880 11,754 2,341
Other, net (3,151) 471 (294)
Total investing activities (2,376,430) (552,760) (2,055,842)
Financing activities:      
Net change in short-term borrowings 892,282 (73,691) 243,615
Repayments of long-term borrowings 0 0 (59,718)
Repurchases of common stock (7,772) (332,821) (14,711)
Cash dividends paid (230,329) (202,169) (184,595)
Proceeds from stock option exercises 50,850 49,937 60,297
Other, net (7,748) (16,955) (5,551)
Total financing activities 697,283 (575,699) 39,337
Effect of exchange rate changes on cash and cash equivalents 8,269 (22,300) (10,002)
Increase (decrease) in cash and cash equivalents 64,418 (1,386) (866,050)
Cash and cash equivalents:      
Beginning of year 345,386 346,772 1,212,822
End of year $ 409,804 $ 345,386 $ 346,772