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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows - operating activities:      
Net income including noncontrolling interests $ 633,329 $ 406,122 $ 383,701
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 51,822 47,296 48,347
Amortization of identifiable intangible assets 67,143 61,315 64,089
Provision for credit losses 7,859 5,166 8,041
Deferred income taxes (16,651) 10,483 9,517
Gain on sale or disposal of property, plant, and equipment (2,057) (6,393) (782)
Excess tax benefits from share-based compensation (1,719) (1,654) (828)
Equity (income) loss from unconsolidated entities (1,660) (391) 1,170
Non-cash expense for amortization of debt issuance costs 960 960 960
Non-cash expense from contingent consideration arrangements 2,287 1,610 1,810
Non-cash expense for impairment of long-lived assets 2,350 0 0
Non-cash share-based compensation expense 13,739 12,125 11,107
Distributions from unconsolidated entities 400 400 44
Changes in operating assets and liabilities, excluding the effect of businesses acquired:      
Increase in accounts receivable (626,494) (340,091) (246,856)
Increase in inventories (23,442) (31,541) (116)
Decrease (increase) in contract assets 5,733 (44,725) (50,648)
Increase in accounts payable 82,192 111,488 54,849
Increase in contract liabilities 489,728 299,897 44,713
Increase (decrease) in accrued payroll and benefits and other accrued expenses and liabilities 189,268 (30,025) 46,573
Changes in other assets and liabilities, net 24,868 (4,109) (56,874)
Net cash provided by operating activities 899,655 497,933 318,817
Cash flows - investing activities:      
Payments for acquisitions of businesses, net of cash acquired (96,491) (98,656) (118,239)
Proceeds from sale or disposal of property, plant, and equipment 13,604 7,145 2,754
Purchases of property, plant, and equipment (78,404) (49,289) (36,192)
Investments in and advances to unconsolidated entities 0 0 (1,595)
Distributions from unconsolidated entities 0 0 196
Net cash used in investing activities (161,291) (140,800) (153,076)
Cash flows - financing activities:      
Proceeds from revolving credit facility 200,000 270,000 0
Repayments of revolving credit facility (200,000) (270,000) 0
Repayments of long-term debt and debt issuance costs (246,171) (13,875) (13,875)
Repayments of finance lease liabilities (2,776) (3,551) (4,189)
Dividends paid to stockholders (32,684) (27,187) (28,163)
Repurchases of common stock (127,713) (660,609) (195,546)
Taxes paid related to net share settlements of equity awards (6,060) (7,539) (4,210)
Issuances of common stock under employee stock purchase plan 9,189 8,177 7,328
Payments for contingent consideration arrangements (5,839) (5,534) (6,758)
Distributions to noncontrolling interests 0 0 (43)
Net cash used in financing activities (412,054) (710,118) (245,456)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 6,372 (12,515) (1,279)
Increase (decrease) in cash, cash equivalents, and restricted cash 332,682 (365,500) (80,994)
Cash, cash equivalents, and restricted cash at beginning of year (1) [1] 457,068 822,568 903,562
Cash, cash equivalents, and restricted cash at end of period (1) [1] $ 789,750 $ 457,068 $ 822,568
[1] Includes $0.6 million, $1.2 million, and $0.7 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of December 31, 2022, 2021, and 2020, respectively.