XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows - operating activities:    
Net income including noncontrolling interests $ 421,814 $ 279,822
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,444 35,168
Amortization of identifiable intangible assets 49,335 45,465
Non-cash expense for impairment of long-lived assets 2,350 0
Non-cash share-based compensation expense 10,703 9,322
Other reconciling items (3,865) (682)
Changes in operating assets and liabilities, excluding the effect of businesses acquired (42,884) (130,741)
Net cash provided by operating activities 475,897 238,354
Cash flows - investing activities:    
Payments for acquisitions of businesses, net of cash acquired (89,741) (91,078)
Proceeds from sale or disposal of property, plant and equipment 12,015 6,897
Purchases of property, plant and equipment (56,306) (38,717)
Net cash used in investing activities (134,032) (122,898)
Cash flows - financing activities:    
Proceeds from revolving credit facility 100,000 270,000
Repayments of revolving credit facility (100,000) (100,000)
Repayments of long-term debt (142,813) 0
Repayments of finance lease liabilities (2,138) (2,741)
Dividends paid to stockholders (24,198) (20,037)
Repurchases of common stock (105,299) (656,573)
Taxes paid related to net share settlements of equity awards (5,365) (7,295)
Issuances of common stock under employee stock purchase plan 6,769 6,097
Payments for contingent consideration arrangements (3,113) (2,049)
Net cash used in financing activities (276,157) (512,598)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 856 (20,540)
Increase (decrease) in cash, cash equivalents, and restricted cash 66,564 (417,682)
Cash, cash equivalents, and restricted cash at beginning of year (1) [1] 457,068 822,568
Cash, cash equivalents, and restricted cash at end of period (2) [2] $ 523,632 $ 404,886
[1] Includes $0.6 million and $1.2 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively.
[2] Includes $1.1 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of September 30, 2022.