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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net earnings $ 801,797 $ 761,033
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 230,808 218,236
Stock-based compensation expense 24,657 25,053
Reclassification of foreign currency translation losses to earnings 5,915 0
Other, net (35,814) (11,969)
Cash effect of changes in assets and liabilities:    
Accounts receivable (227,831) (222,521)
Inventories (286,437) (225,522)
Prepaid expenses and other assets (14,001) (38,290)
Accounts payable 121,513 199,877
Accrued compensation and employee benefits (62,208) 32,284
Accrued expenses and other liabilities (19,700) 42,084
Accrued and deferred taxes, net (71,618) 8,321
Net cash provided by operating activities 467,081 788,586
Investing Activities:    
Additions to property, plant and equipment (166,039) (121,157)
Acquisitions, net of cash acquired (229,296) (171,287)
Proceeds from sale of property, plant and equipment 4,215 6,570
Other (10,941) (768)
Net cash used in investing activities (402,061) (286,642)
Financing Activities:    
Repurchase of common stock, including prepayment under accelerated share repurchase program (585,000) (21,637)
Proceeds from commercial paper and other short-term borrowings, net 682,928 0
Dividends paid to stockholders (216,636) (214,805)
Payments to settle employee tax obligations on exercise of share-based awards (12,278) (34,838)
Other (2,593) (3,518)
Net cash used in financing activities (133,579) (274,798)
Effect of exchange rate changes on cash and cash equivalents (10,943) (1,077)
Net (decrease) increase in cash and cash equivalents (79,502) 226,069
Cash and cash equivalents at beginning of period 385,504 513,075
Cash and cash equivalents at end of period $ 306,002 $ 739,144