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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement of Cash Flows [Abstract]      
Cash and cash equivalents at beginning of year $ 613,110 $ 555,320 $ 1,137,303
Cash flows from operating activities:      
Net income 446,615 604,357 739,139
Adjustments to reconcile net income to cash flows from operating activities:      
Depreciation and amortization 231,984 213,484 200,698
Gain on sale of business or joint venture (7,168) 0 (210,428)
Gain on sale of property 0 (14,411) 0
Stock-based compensation and other 22,837 19,680 15,228
Equity in net income of unconsolidated investments (net of tax) (127,521) (129,568) (89,264)
Dividends received from unconsolidated investments and nonmarketable securities 88,161 71,746 57,415
Pension and postretirement expense 45,658 31,515 10,410
Pension and postretirement contributions (16,434) (16,478) (15,236)
Unrealized gain on investments in marketable securities (4,635) (2,809) (527)
Loss on early extinguishment of debt 0 4,829 0
Deferred income taxes (1,976) 14,394 49,164
Changes in current assets and liabilities, net of effects of acquisitions and divestitures:      
Decrease (increase) in accounts receivable 100,118 (18,220) (97,448)
Decrease (increase) in inventories 51,978 (46,304) (124,067)
Decrease (increase) in other current assets 7,902 (32,941) (2,181)
(Decrease) increase in accounts payable (31,519) (12,234) 73,730
(Decrease) in accrued expenses and income taxes payable (215,011) (4,640) (1,999)
Other, net 207,925 36,974 (58,469)
Net cash provided by operating activities 798,914 719,374 546,165
Cash flows from investing activities:      
Acquisitions, net of cash acquired (22,572) (820,000) (11,403)
Capital expenditures (850,477) (851,796) (699,991)
Cash proceeds from divestitures, net 0 0 413,569
Proceeds from sale of joint venture 11,000 0 0
Proceeds from sale of property and equipment 0 10,356 0
Sales of (investments in) marketable securities, net 903 384 (270)
Investments in equity and other corporate investments (2,427) (2,569) (5,600)
Net cash used in investing activities (863,573) (1,663,625) (303,695)
Cash flows from financing activities:      
Proceeds from borrowings of other long-term debt 452,163 1,597,807 0
Repayments of long-term debt (250,000) (175,215) 0
Other borrowings (repayments), net 137,635 (126,364) (113,567)
Fees related to early extinguishment of debt 0 (4,419) 0
Dividends paid to shareholders (161,818) (152,204) (144,596)
Dividends paid to noncontrolling interests (32,061) (83,187) (14,756)
Repurchases of common stock 0 0 (500,000)
Proceeds from exercise of stock options 40,437 4,814 3,633
Withholding taxes paid on stock-based compensation award distributions (5,143) (11,031) (17,240)
Debt financing costs (3,952) (7,514) 0
Net cash provided by (used in) financing activities 177,261 1,042,687 (786,526)
Net effect of foreign exchange on cash and cash equivalents 21,012 (40,646) (37,927)
Increase (decrease) in cash and cash equivalents 133,614 57,790 (581,983)
Cash and cash equivalents at end of year $ 746,724 $ 613,110 $ 555,320