CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 222,848	$ 292,034
Accounts receivable, net	443,467	408,834
Inventories	626,216	578,507
Prepaid expenses and other current assets	107,471	125,084
Prepaid taxes	7,404	6,524
Total current assets	1,407,406	1,410,983
Property, plant and equipment, net	479,913	447,205
Operating lease assets	123,521	131,211
Goodwill	2,914,055	2,536,730
Intangibles assets, net	2,501,960	2,306,165
Deferred tax assets	6,748	6,402
Other assets	98,943	89,367
Total assets	7,532,546	6,928,063
Current liabilities
Current borrowings	87,500	87,500
Accounts payable	132,247	126,807
Accrued expenses	146,880	140,644
Payroll and benefit-related liabilities	146,535	133,092
Accrued interest	5,583	5,332
Income taxes payable	41,453	24,736
Other current liabilities	46,547	63,381
Total current liabilities	606,745	581,492
Long-term borrowings	1,727,572	1,624,023
Deferred tax liabilities	456,080	388,886
Pension and postretirement benefit liabilities	23,989	31,394
Noncurrent liability for uncertain tax positions	3,370	5,805
Noncurrent operating lease liabilities	111,300	120,437
Other liabilities	162,502	154,058
Total liabilities	3,091,558	2,906,095
Commitments and contingencies
Shareholders’ equity
Common shares, $1 par value Issued: 2023 — 48,046 shares; 2022 — 47,957 shares	48,046	47,957
Additional paid-in capital	749,712	715,118
Retained earnings	4,109,736	3,817,304
Accumulated other comprehensive loss	(314,405)	(403,522)
Shareholders equity before treasury stock, total	4,593,089	4,176,857
Less: Treasury stock, at cost	152,101	154,889
Total shareholders' equity	4,440,988	4,021,968
Total liabilities and shareholders' equity	$ 7,532,546	$ 6,928,063