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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income $ 78,146 $ 161,788
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,393 24,560
Provision for credit losses 5,675 1,774
Stock-based compensation 11,397 17,123
Deferred income taxes 1,622 (364)
Excess tax benefit on stock-based compensation (3,737) (4,458)
Other operating activities 788 576
Changes in operating elements (net of acquisitions):    
Receivables (133,142) 117,720
Contract assets 8,713 (5,921)
Prepaid expenses and other (11,038) (6,367)
Accounts payable and outstanding checks 98,946 (10,742)
Accrued compensation (23,879) (87,259)
Accrued transportation expense (7,294) 7,331
Accrued income taxes 5,196 39,078
Other accrued liabilities 1,829 1,801
Other assets and liabilities 884 291
Net cash provided by operating activities 58,499 256,931
INVESTING ACTIVITIES    
Purchases of property and equipment (7,841) (8,619)
Purchases and development of software (6,862) (5,246)
Acquisitions, net of cash acquired (223,617) (44,143)
Other investing activities 0 8
Net cash used for investing activities (238,320) (58,000)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 11,269 19,615
Stock tendered for payment of withholding taxes (13,795) (12,042)
Repurchase of common stock (68,563) (67,624)
Cash dividends (69,871) (69,742)
Proceeds from short-term borrowings 765,600 14,000
Payments on short-term borrowings (587,600) (19,000)
Net cash used for financing activities 37,040 (134,793)
Effect of exchange rates on cash (10,505) 2,720
Net change in cash and cash equivalents (153,286) 66,858
Cash and cash equivalents, beginning of period 447,858 378,615
Cash and cash equivalents, end of period $ 294,572 $ 445,473