XML 22 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 357,796 $ 305,928 $ 252,195
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of intangible assets 192 557 1,700
Depreciation expense 53,273 49,124 47,072
Stock-based compensation expense—restricted stock and stock units 41,292 40,821 38,867
Excess tax benefits from stock-based compensation (8,762) (7,174) (8,103)
Deferred income taxes (8,579) (3,643) (13,259)
Provision for doubtful accounts 12,005 9,825 7,467
Changes in assets and liabilities, net of effects of acquisitions:      
Increase in accounts receivable (75,745) (134,917) (47,699)
Increase in accounts payable, accrued expenses, accrued payroll and benefit costs 60,232 71,740 38,356
Increase (decrease) in income taxes payable 19,948 16,359 (11,927)
Change in other assets, net of change in other liabilities (13,416) (7,922) 4,548
Net cash flows provided by operating activities 438,236 340,698 309,217
CASH FLOWS FROM INVESTING ACTIVITIES:      
Payments for acquisitions, net of cash acquired (14,668) 0 0
Capital expenditures (75,057) (62,830) (53,725)
Payments to trusts for employee deferred compensation plans (28,225) (25,811) (44,052)
Net cash flows used in investing activities (117,950) (88,641) (97,777)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repurchases of common stock (271,138) (153,821) (167,975)
Cash dividends paid (107,561) (97,604) (89,187)
Decrease in notes payable and other indebtedness (140) (128) (4,496)
Excess tax benefits from stock-based compensation 8,762 7,174 8,103
Proceeds from exercises of stock options 1,529 14,324 33,285
Net cash flows used in financing activities (368,548) (230,055) (220,270)
Effect of exchange rate changes on cash and cash equivalents (14,280) (10,647) (3,041)
Net (decrease) increase in cash and cash equivalents (62,542) 11,355 (11,871)
Cash and cash equivalents at beginning of period 287,119 275,764 287,635
Cash and cash equivalents at end of period 224,577 287,119 275,764
Cash paid during the year for:      
Interest 285 330 315
Income taxes, net of refunds 212,668 178,375 168,407
Non-cash items:      
Stock repurchases awaiting settlement $ 11,935 $ 30,152 $ 0