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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 648,626 $ 629,954
Adjustments to reconcile net income to total operating activities:    
Depreciation and amortization 196,681 163,935
Deferred income taxes (21,946) (38,144)
Share-based compensation expense 22,164 22,860
Gain on sale of facilities (995) 0
Net change in assets and liabilities, net of acquisitions (41,144) (51,627)
Pension contributions (2,924) (2,880)
Other, net (8,800) (2,315)
Total operating activities 791,662 721,783
Investing activities:    
Additions to property, plant and equipment (49,068) (47,835)
Purchases of businesses, net of cash acquired 0 (99,266)
Proceeds from sale of business/investment 657 0
Proceeds from sale of facilities 4,246 0
Other, net 616 (2,886)
Total investing activities (43,549) (149,987)
Financing activities:    
Net change in short-term borrowings (640,611) (219,610)
Repurchases of common stock (7,595) (6,524)
Cash dividends paid (129,411) (115,071)
Proceeds from stock option exercises 34,524 29,055
Other, net (8,557) (4,941)
Total financing activities (751,650) (317,091)
Effect of exchange rate changes on cash and cash equivalents (9,694) 5,496
(Decrease) increase in cash and cash equivalents (13,231) 260,201
Cash and cash equivalents:    
Beginning of period 409,804 345,386
End of period $ 396,573 $ 605,587