v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 416,093 $ 449,272
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 265,744 238,453
Share-based compensation 29,698 24,180
Other operating activities, including changes in operating assets and liabilities (247,421) (542,790)
Net cash provided by operating activities 464,114 169,115
Investing activities:    
Purchases of property, plant and equipment (205,391) (248,822)
Proceeds from sale of property, plant and equipment 17,884 19,451
Acquisitions of businesses (37,613) (111,973)
Proceeds from divestitures of businesses 6,718 59
Other investing activities (9,604) 23,335
Net cash used in investing activities (228,006) (317,950)
Financing activities:    
Proceeds from debt 791,217 21,405
Payments on debt (926,328) (522,637)
Net proceeds of commercial paper 338,853 916,587
Shares issued from employee incentive plans (13,254) (15,254)
Dividends paid (287,972) (277,306)
Other financing activities (26,679) (20,268)
Net cash provided by (used in) financing activities (124,163) 102,527
Effect of exchange rate changes on cash and cash equivalents (30,006) 24,310
Net increase (decrease) in cash and cash equivalents 81,939 (21,998)
Cash and cash equivalents at beginning of period 477,179 479,991
Cash and cash equivalents at end of period $ 559,118 $ 457,993