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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 204,827 $ 225,475
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 80,174 76,135
Equity-based compensation 15,308 12,841
Deferred income taxes 12,091 9,545
Other adjustments 728 30
Changes in certain assets and liabilities:    
Accounts receivable (61,062) (118,818)
Inventories 39,469 (80,711)
Other assets 301 (105)
Accounts payable 3,206 66,332
Income taxes receivable/payable 49,850 63,962
Accrued expenses (163,339) (76,751)
Net cash provided by operating activities 181,553 177,935
Investing activities:    
Purchases of property, plant and equipment (54,436) (50,606)
Purchases of short term investments (49,677) (40,000)
Proceeds from maturities of short-term investments 104,737  
Acquisition of business, net of cash and restricted cash acquired (93,412)  
Other investing activities 364 229
Net cash used in investing activities (92,424) (90,377)
Financing activities:    
Issuance of current and long-term debt 121,234 93,058
Repayment of current and long-term debt (115,271) (113,034)
Dividends paid (42,239) (36,797)
Purchases of treasury stock (84,308) (69,269)
Other financing activities (5,720) (5,180)
Net cash used in financing activities (126,304) (131,222)
Decrease in cash, cash equivalents, and restricted cash (37,175) (43,664)
Cash, cash equivalents, and restricted cash at beginning of period 834,423 1,035,085
Cash, cash equivalents, and restricted cash at end of period 797,248 991,421
Supplemental disclosure information:    
Cash paid for interest 8,606 8,629
Cash paid (received) for income taxes, net $ 1,839 $ (1,045)