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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 310,943 $ 305,712
Adjustments to reconcile net income to total operating activities:    
Depreciation and amortization 98,000 82,379
Deferred income taxes (2,974) (17,587)
Share-based compensation expense 8,941 10,279
Gain on sale of facilities (995) 0
Net change in assets and liabilities, net of acquisitions 816 4,883
Pension contributions (1,460) (1,415)
Other, net (3,044) 2,285
Total operating activities 410,227 386,536
Investing activities:    
Additions to property, plant and equipment (27,652) (20,006)
Purchases of businesses, net of cash acquired 0 (99,266)
Proceeds from sale of facilities 4,246 0
Other, net 1,994 (2,888)
Total investing activities (21,412) (122,160)
Financing activities:    
Net change in short-term borrowings (363,052) (155,505)
Repurchases of common stock (6,915) (6,502)
Cash dividends paid (64,664) (57,492)
Proceeds from stock option exercises 23,613 10,419
Other, net (6,531) (5,886)
Total financing activities (417,549) (214,966)
Effect of exchange rate changes on cash and cash equivalents (7,305) 5,077
(Decrease) increase in cash and cash equivalents (36,039) 54,487
Cash and cash equivalents:    
Beginning of period 409,804 345,386
End of period $ 373,765 $ 399,873