General (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Accounting Policies [Abstract] |
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| Schedule of Reconciliation of Prepaid Expenses And Other Current Assets |
The following table provides a detail of prepaid expenses and other current assets reported within the Condensed Consolidated Balance Sheets as of: | | | | | | | | | | | | | | | | (in thousands) | | March 31, 2025 | | December 31, 2024 | | Prepaid expenses | | $ | 173,925 | | | $ | 118,401 | | | Consideration receivable from vendors | | 959,843 | | | 972,842 | | | Other current assets | | 520,010 | | | 584,067 | | | Total prepaid expenses and other current assets | | $ | 1,653,778 | | | $ | 1,675,310 | |
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| Schedule of Derivative Instruments |
The following table summarizes the classification and carrying amounts of the derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | December 31, 2024 | | Instrument | | Balance Sheet Location | | Notional | | Balance | | Notional | | Balance | | Net investment hedges: | | | | | | | | | | | | Forward contracts | | Prepaid expenses and other current assets | | $ | 838,046 | | $ | 26,735 | | $ | 1,867,966 | | $ | 85,834 | | Forward contract | | Other current liabilities | | $ | 574,300 | | $ | 1,557 | | $ | — | | $ | — | | Foreign currency debt | | Long-term debt | | € | 475,000 | | $ | 514,473 | | € | 475,000 | | $ | 494,285 |
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| Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) |
The tables below presents gains and losses related to designated net investment hedges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gain (Loss) Recognized in AOCL before Reclassifications | | Gain Recognized in Interest Expense for Excluded Components | | (in thousands) | | 2025 | | 2024 | | 2025 | | 2024 | | Three Months Ended March 31, | | | | | | | | | | Net investment hedges: | | | | | | | | | | Forward contracts | | $ | (43,081) | | | $ | 13,262 | | | $ | 5,759 | | | $ | 4,369 | | | Foreign currency debt | | (20,188) | | | 17,080 | | | — | | | — | | | Total | | $ | (63,269) | | | $ | 30,342 | | | $ | 5,759 | | | $ | 4,369 | |
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| Schedule of Supplier Finance Program |
| | | | | | | | | | (in thousands) | | March 31, 2025 | | Obligations outstanding at the beginning of the period | | $ | 3,341,333 | | | Invoices confirmed during the year | | 1,033,405 | | | Confirmed invoices paid during the year | | (1,102,527) | | | Confirmed obligations outstanding at the end of the period | | $ | 3,272,211 | |
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| Schedule of Earnings per Share, Basic and Diluted |
The following table summarizes basic and diluted shares outstanding: | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | (in thousands, except per share data) | | 2025 | | 2024 | | Net income | | $ | 194,392 | | | $ | 248,894 | | | | | | | | Weighted average common shares outstanding | | 138,783 | | | 139,429 | | | Dilutive effect of stock options and non-vested restricted stock awards | | 417 | | | 667 | | | Weighted average common shares outstanding – assuming dilution | | 139,200 | | | 140,096 | | | Basic earnings per share | | $ | 1.40 | | | $ | 1.79 | | | Diluted earnings per share | | $ | 1.40 | | | $ | 1.78 | |
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