v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities:    
Net earnings $ 884,010 $ 811,881
Adjustments to reconcile net earnings to cash provided by operating activities:    
Loss from discontinued operations, net 4,104 10,782
Depreciation and amortization 292,203 280,262
Stock-based compensation expense 33,412 37,605
Gain on dispositions 0 (4,644)
Other, net (6,328) (19,255)
Cash effect of changes in assets and liabilities:    
Accounts receivable, net (201,635) (33,816)
Inventories (193,658) (95,567)
Prepaid expenses and other assets (29,532) (9,677)
Accounts payable 66,690 (26,309)
Accrued compensation and employee benefits (46,974) (74,687)
Accrued expenses and other liabilities 43,709 (24,485)
Accrued and deferred taxes, net 19,930 (58,031)
Net cash provided by operating activities 865,931 794,059
Investing Activities:    
Additions to property, plant and equipment (163,005) (163,274)
Acquisitions, net of cash and cash equivalents acquired (42,809) (663,194)
Proceeds from dispositions, net of cash transferred 0 5,998
Other 3,206 5,843
Net cash used in investing activities (202,608) (814,627)
Financing Activities:    
Repurchase of common stock (385,527) (40,700)
Dividends paid to stockholders (210,785) (213,181)
Payments to settle employee tax obligations on exercise of share-based awards (33,927) (11,627)
Other (11,123) (14,839)
Net cash used in financing activities (641,362) (280,347)
Cash Flows from Discontinued Operations:    
Net cash used in operating activities of discontinued operations (820) (1,551)
Net cash used in investing activities of discontinued operations 0 (9,796)
Net cash used in discontinued operations (820) (11,347)
Effect of exchange rate changes on cash and cash equivalents (4,774) 20,189
Net increase (decrease) in cash and cash equivalents 16,367 (292,073)
Cash and cash equivalents at beginning of period 1,676,808 1,844,877
Cash and cash equivalents at end of period $ 1,693,175 $ 1,552,804