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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 299,185 $ 276,389
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of assets and other (505) (1,227)
Depreciation and amortization 54,224 44,521
Noncash lease expense 10,329 7,982
Inventory step-up expense 0 12,151
(Gain) loss in equity method investment, before tax 531 (229)
Deferred income taxes (10,829) (13,156)
Noncash compensation related to stock plans 17,789 12,986
Provision for doubtful accounts 879 1,146
Deferred hedge gain (3,095) (1,571)
Changes in operating assets and liabilities    
Trade accounts receivable (85,156) (55,037)
Inventories 50,219 (27,732)
Trade accounts payable (3,471) 4,960
Income taxes payable 79,542 12,930
Other current assets 438 (5,711)
Accrued liabilities and other current liabilities 2,583 12,353
Other noncurrent assets and liabilities (14,486) (17,359)
Net cash provided by operating activities 398,177 263,396
Cash flows from investing activities    
Capital expenditures (57,483) (41,571)
Acquisitions, net of cash (see Note 3) (17,525) (806,544)
Equity method investments (712) (2,768)
Proceeds from sale of property and equipment 622 1,834
Proceeds from Divestiture of Businesses 8,544 0
Terminated forward contract 0 3,535
Net cash used in investing activities (66,554) (845,514)
Cash flows from financing activities    
Termination of cash flow hedge 0 21,252
Repurchase of common stock 0 (74,562)
Proceeds from borrowing under lines of credit and term loan 264 716,721
Repayments of lines of credit and term loan (17,362) (27,816)
Debt issuance costs 0 (6,804)
Dividends paid (33,679) (32,819)
Cash paid on behalf of employees for shares withheld (7,398) (9,523)
Net cash provided by (used in) financing activities (58,175) 586,449
Effect of exchange rate changes on cash and cash equivalents (3,184) 3,776
Net increase in cash and cash equivalents 270,264 8,107
Cash and cash equivalents at beginning of period 300,742 301,155
Cash and cash equivalents at end of period 571,006 309,262
Noncash activity during the period    
Noncash capital expenditures 4,150 681
Dividends declared but not paid 11,518 11,223
Issuance of Company’s common stock for compensation $ 0 $ 960