General (Tables)
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9 Months Ended |
Sep. 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) | | September 30, 2026 | | December 31, 2025 | | Prepaid expenses | | $ | 178,335 | | | $ | 150,014 | | | Consideration receivable from vendors | | 848,958 | | | 907,321 | | | Other current assets | | 605,068 | | | 587,285 | | | Total prepaid expenses and other current assets | | $ | 1,632,361 | | | $ | 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): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | Instrument | | Balance Sheet Location | | Notional | | Balance | | Notional | | Balance | | Net investment hedges: | | | | | | | | | | | | Forward contracts | | Prepaid expenses and other current assets | | $ | 787,001 | | $ | 23,447 | | $ | 245,960 | | $ | 7,146 | | Forward contracts | | Other current liabilities | | $ | 979,525 | | $ | 18,812 | | $ | 1,633,396 | | $ | 66,516 | | Foreign currency debt | | Long-term debt | | € | 475,000 | | $ | 538,745 | | € | 475,000 | | $ | 558,030 |
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| Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) |
The tables below present 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 September 30, | | | | | | | | | | Net investment hedges: | | | | | | | | | | Forward contracts | | $ | 2,788 | | | $ | 8,163 | | | $ | 5,425 | | | $ | 5,939 | | | Foreign currency debt | | 3,895 | | | (333) | | | — | | | — | | | Total | | $ | 6,683 | | | $ | 7,830 | | | $ | 5,425 | | | $ | 5,939 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gain (Loss) Recognized in AOCL before Reclassifications | | Gain Recognized in Interest Expense for Excluded Components | | (in thousands) | | 2026 | | 2025 | | 2026 | | 2025 | | Nine Months Ended September 30, | | | | | | | | | | Net investment hedges: | | | | | | | | | | Forward contracts | | $ | 42,423 | | | $ | (144,923) | | | $ | 16,863 | | | $ | 17,453 | | | Foreign currency debt | | 19,285 | | | (62,748) | | | — | | | — | | | Total | | $ | 61,708 | | | $ | (207,671) | | | $ | 16,863 | | | $ | 17,453 | |
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| Schedule of Supplier Finance Program |
| | | | | | | | | | (in thousands) | | September 30, 2026 | | Obligations outstanding at the beginning of the period | | $ | 3,129,794 | | | Invoices confirmed during the period | | 3,029,307 | | | Confirmed invoices paid during the period | | (2,963,769) | | | Confirmed obligations outstanding at the end of the period | | $ | 3,195,332 | |
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| Schedule of Earnings per Share, Basic and Diluted |
The following table summarizes basic and diluted shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (in thousands, except per share data) | | 2026 | | 2025 | | 2026 | | 2025 | | Net income | | $ | 224,447 | | | $ | 226,171 | | | $ | 640,540 | | | $ | 675,443 | | | | | | | | | | | | Weighted average common shares outstanding | | 137,862 | | | 139,099 | | | 137,753 | | | 138,959 | | | Dilutive effect of stock awards | | 469 | | | 307 | | | 351 | | | 298 | | | Weighted average common shares outstanding – assuming dilution | | 138,331 | | | 139,406 | | | 138,104 | | | 139,257 | | | Basic earnings per share | | $ | 1.63 | | | $ | 1.63 | | | $ | 4.65 | | | $ | 4.86 | | | Diluted earnings per share | | $ | 1.62 | | | $ | 1.62 | | | $ | 4.64 | | | $ | 4.85 | |
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