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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 89,351 $ 86,500
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,659 40,142
Equity method earnings 0 (43)
Gain on step acquisitions 0 (13,644)
Loss on extinguishment of debt 0 7,220
Foreign currency losses 1,355 10,194
Stock-based compensation 8,634 13,267
Deferred taxes 5,854 3,023
Non-cash lease expense 22,505 0
Changes in operating assets and liabilities:    
Accounts receivable (8,220) (6,775)
Inventories, net 3,085 (16,743)
Prepaid expenses and other (13,245) (19,676)
Other assets (14,892) (546)
Accounts payable 1,606 1,040
Accrued expenses (66,152) (45,363)
Other liabilities 5,937 (6,663)
Net cash provided by operating activities 74,477 51,933
Cash flows from investing activities:    
Purchases of property and equipment (29,214) (28,429)
Proceeds on investment sales 7,615 7,964
Purchases of investments (4,774) (4,722)
Acquisitions and investments in equity investees (8,073) (33,061)
Net cash used in investing activities (34,446) (58,248)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards (2,308) 5,951
Payments of debt (152,455) (514,177)
Payment of cash dividends (41,084) (40,091)
Payment of debt issuance costs 0 (7,243)
Proceeds from debt 130,000 582,398
Repurchases of shares of common stock (825) (35,823)
Net cash used in financing activities (66,672) (8,985)
Effect of exchange rate changes on cash 362 (9,068)
Net increase (decrease) in cash and cash equivalents (26,279) (24,368)
Cash and cash equivalents, beginning of period 386,911 426,399
Cash and cash equivalents, end of period $ 360,632 $ 402,031