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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:      
Net earnings $ 1,056,828 $ 1,065,376 $ 1,123,818
Adjustments to reconcile net earnings to cash provided by operating activities:      
Depreciation and amortization 317,463 307,538 290,123
Stock-based compensation 31,465 30,821 31,111
Gain on dispositions 0 0 (206,338)
Provision for losses on accounts receivable (net of recoveries) 2,881 5,552 5,053
Deferred income taxes (99,286) (28,138) (48,322)
Employee benefit plan expense 5,679 3,096 11,897
Other, net (12,385) (18,218) (7,368)
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):      
Accounts receivable 86,501 (209,021) (201,540)
Inventories 145,451 (199,033) (297,623)
Prepaid expenses and other assets 10,158 (3,494) (14,303)
Accounts payable (104,576) 15,422 229,334
Accrued compensation and employee benefits 4,222 (34,803) 65,482
Accrued expenses and other liabilities (75,160) (54,067) 60,734
Accrued taxes (16,798) (62,417) 88,190
Contributions to employee benefit plans (16,098) (12,890) (14,383)
Net cash provided by operating activities 1,336,345 805,724 1,115,865
Investing Activities:      
Additions to property, plant and equipment (192,592) (220,962) (171,465)
Acquisitions, net of cash and cash equivalents acquired (533,623) (312,855) (1,112,075)
Proceeds from sale of property, plant and equipment 4,234 6,061 7,070
Proceeds from dispositions 0 0 274,982
Other (4,649) (13,168) 8,735
Net cash used in investing activities (726,630) (540,924) (992,753)
Financing Activities:      
Change in commercial paper and other short-term borrowings, net (267,490) 629,891 105,000
Dividends paid to stockholders (284,297) (287,551) (286,896)
Repurchase of common stock, including payment under accelerated share repurchase program 0 (585,000) (21,637)
Payments to settle employee tax obligations on exercise of share-based awards (12,137) (14,637) (41,924)
Other (4,132) (2,968) (4,423)
Net cash used in financing activities (568,056) (260,265) (249,880)
Effect of exchange rate changes on cash and cash equivalents (6,666) (9,171) (803)
Net increase (decrease) in cash and cash equivalents, including cash held for sale 34,993 (4,636) (127,571)
Cash and cash equivalents at beginning of year 380,868 385,504 513,075
Cash and cash equivalents, including cash held for sale, at end of year 415,861 380,868 385,504
Supplemental information - cash paid during the year for:      
Income taxes 332,192 354,468 233,631
Interest 126,704 112,469 102,139
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]      
Cash and cash equivalents 398,561 380,868 385,504
Cash and cash equivalents held for sale 17,300 0 0
Cash and cash equivalents, including cash held for sale $ 415,861 $ 380,868 $ 385,504