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SIGNIFICANT ACCOUNTING POLICIES (Textual) (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019
Significant accounting policies |  |  |
Percentage Net Sales Over Time | 10.00% |  |
Operating Income (Loss) | $ 461,669 | $ 282,071 | $ 370,910
Selling, general & administrative expenses | 597,109 | 543,802 | 621,489
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | 126,056 |  |
Income Tax Reconciliation Excess Tax Benefits Stock Options | $ 4,681 | $ 2,471 | $ 3,451
Percentage of LIFO Inventory | 36.00% | 35.00% | 36.00%
Maximum period for which derivative contracts cover currency and commodity exposures (in years) | 3 years |  |
Product Warranties |  |  |
Period of warranty services (in years) | 3 years |  |
Stock-Based Compensation |  |  |
Anti-dilutive shares excluded from the calculation of diluted earnings per share (in shares) | 2,949 | 615,302 | 524,110
Research and Development |  |  |
Research and development costs | $ 55,969 | $ 51,414 | $ 56,845
Bonus |  |  |
Costs related to the Company's discretionary employee bonus programs | 120,686 | 87,407 | $ 100,381
Inventories |  |  |
Inventory Valuation Reserves | 23,087 | 24,351 |
Prepaid Expense, Current |  |  |
Prepaid Expense, Current | $ 20,615 | $ 19,584 |

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