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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 89,915 $ 109,798
Adjustments to reconcile net income to net cash provided by operating activities:    
Allowance for credit losses 4,690 2,325
Depreciation 15,913 15,652
Amortization of cloud computing implementation costs 3,288 0
Amortization of intangible assets 338 342
Stock-based compensation 13,525 11,244
Deferred income taxes 12,022 5,736
Changes in assets and liabilities:    
Accounts receivable (36,700) (35,294)
Capitalized cloud computing implementation costs (10,379) (4,751)
Accounts payable and accrued expenses 18,193 (11,910)
Accrued payroll and benefit cost (4,396) 13,308
Income taxes payable 20,124 17,470
Other assets and liabilities, net (1,607) 3,159
Net cash flows provided by operating activities 124,926 127,079
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (14,276) (12,670)
Payments for employee deferred compensation plans (37,061) (27,376)
Redemptions from employee deferred compensation plans 22,987 16,966
Net cash flows used in investing activities (28,350) (23,080)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of notes payable (53) (49)
Repurchases of common stock (69,968) (72,343)
Dividends paid (40,476) (37,887)
Net cash flows used in financing activities (110,497) (110,279)
Effect of exchange rate fluctuations (6,643) (654)
Change in cash and cash equivalents (20,564) (6,934)
Cash and cash equivalents at beginning of period 270,478 276,579
Cash and cash equivalents at end of period 249,914 269,645
Non-cash items:    
Stock repurchases awaiting settlement $ 0 $ 7,332