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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 266,778 $ 299,185
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of assets and other (460) (505)
Depreciation and amortization 60,979 54,224
Noncash lease expense 11,902 10,329
Release of acquisition related tax and legal contingency (1,830) 0
Loss in equity method investment, before tax 645 531
Deferred income taxes (9,189) (10,829)
Noncash compensation related to stock plans and changes in the fair value of DCP 16,017 17,789
Provision for doubtful accounts 70 879
Deferred hedge gain (2,556) (3,095)
Changes in operating assets and liabilities    
Trade accounts receivable (73,474) (85,156)
Inventories (28,066) 50,219
Other current assets (7,848) 438
Trade accounts payable 6,085 (3,471)
Income taxes payable 520 79,542
Accrued liabilities and other current liabilities (4,168) 2,583
Other noncurrent assets and liabilities (13,040) (14,486)
Net cash provided by operating activities 222,365 398,177
Cash flows from investing activities    
Capital expenditures (124,848) (57,483)
Acquisitions, net of cash (see Note 3) (77,641) (17,525)
Purchases of equity investments (1,495) (712)
Proceeds from sale of property and equipment 1,869 622
Proceeds from sale of business 0 8,544
Net cash used in investing activities (202,115) (66,554)
Cash flows from financing activities    
Repurchase of common stock (50,000) 0
Proceeds from line of credit 1,296 264
Repayments of line of credit and term loan (20,080) (17,362)
Dividends paid (34,694) (33,679)
Cash paid on behalf of employees for shares withheld (7,554) (7,398)
Net cash used in financing activities (111,032) (58,175)
Effect of exchange rate changes on cash and cash equivalents 387 (3,184)
Net increase (decrease) in cash and cash equivalents (90,395) 270,264
Cash and cash equivalents at beginning of period 429,822 300,742
Cash and cash equivalents at end of period 339,427 571,006
Noncash activity during the period    
Noncash capital expenditures 6,294 4,150
Dividends declared but not paid $ 11,806 $ 11,518