General (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Accounting Policies [Abstract] |
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| Schedule of Reconciliation of Prepaid Expenses And Other Current Assets |
The following table provides a detail of prepaid expenses and other current assets reported within the Condensed Consolidated Balance Sheets as of: | | | | | | | | | | | | | | | | (in thousands) | | June 30, 2026 | | December 31, 2025 | | Prepaid expenses | | $ | 191,694 | | | $ | 150,014 | | | Consideration receivable from vendors | | 788,535 | | | 907,321 | | | Other current assets | | 585,652 | | | 587,285 | | | Total prepaid expenses and other current assets | | $ | 1,565,881 | | | $ | 1,644,620 | |
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| Schedule of Derivative Instruments |
The following table summarizes the classification and carrying amounts of the derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Instrument | | Balance Sheet Location | | Notional | | Balance | | Notional | | Balance | | Net investment hedges: | | | | | | | | | | | | Forward contracts | | Prepaid expenses and other current assets | | $ | 612,326 | | $ | 22,273 | | $ | 245,960 | | $ | 7,146 | | Forward contracts | | Other current liabilities | | $ | 1,154,200 | | $ | 25,850 | | $ | 1,633,396 | | $ | 66,516 | | Foreign currency debt | | Long-term debt | | € | 475,000 | | $ | 542,640 | | € | 475,000 | | $ | 558,030 |
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| Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) |
The tables below presents pre-tax gains and losses related to net investment hedges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gain (Loss) Recognized in AOCL before Reclassifications | | Gain Recognized in Interest Expense for Excluded Components | | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | | Three Months Ended June 30, | | | | | | | | | | Net investment hedges: | | | | | | | | | | Forward contracts | | $ | (3,487) | | | $ | (110,006) | | | $ | 5,499 | | | $ | 5,755 | | | Foreign currency debt | | 1,805 | | | (42,228) | | | — | | | — | | | Total | | $ | (1,682) | | | $ | (152,234) | | | $ | 5,499 | | | $ | 5,755 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gain (Loss) Recognized in AOCL before Reclassifications | | Gain Recognized in Interest Expense for Excluded Components | | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | | Six Months Ended June 30, | | | | | | | | | | Net investment hedges: | | | | | | | | | | Forward contracts | | $ | 39,635 | | | $ | (153,086) | | | $ | 11,438 | | | $ | 11,514 | | | Foreign currency debt | | 15,390 | | | (62,415) | | | — | | | — | | | Total | | $ | 55,025 | | | $ | (215,501) | | | $ | 11,438 | | | $ | 11,514 | |
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| Schedule of Supplier Finance Program |
| | | | | | | | | | (in thousands) | | June 30, 2026 | | Obligations outstanding at the beginning of the period | | $ | 3,140,825 | | | Invoices confirmed during the period | | 2,048,099 | | | Confirmed invoices paid during the period | | (2,017,462) | | | Confirmed obligations outstanding at the end of the period | | $ | 3,171,462 | |
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| Schedule of Earnings per Share, Basic and Diluted |
The following table summarizes basic and diluted shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | (in thousands, except per share data) | | 2026 | | 2025 | 2026 | | 2025 | | Net income | | $ | 227,558 | | | $ | 254,880 | | $ | 416,093 | | | $ | 449,272 | | | | | | | | | | | Weighted average common shares outstanding | | 137,773 | | | 138,990 | | 137,698 | | | 138,887 | | | Dilutive effect of stock awards | | 204 | | | 254 | | 319 | | | 320 | | | Weighted average common shares outstanding – assuming dilution | | 137,977 | | | 139,244 | | 138,017 | | | 139,207 | | | Basic earnings per share | | $ | 1.65 | | | $ | 1.83 | | $ | 3.02 | | | $ | 3.23 | | | Diluted earnings per share | | $ | 1.65 | | | $ | 1.83 | | $ | 3.01 | | | $ | 3.23 | |
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