XML 19 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 265,601 $ 264,353
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 928 0
Depreciation expense 46,771 39,487
Stock-based compensation expense—restricted stock and stock units 32,803 30,540
Excess tax benefits from stock-based compensation (812) (4,645)
Deferred income taxes (8,537) (6,912)
Provision for doubtful accounts 3,323 7,096
Changes in assets and liabilities:    
Increase in accounts receivable (39,723) (96,505)
Increase in accounts payable, accrued expenses, accrued payroll and benefit costs 58,801 63,149
Increase in income taxes payable 12,498 34,854
Change in other assets, net of change in other liabilities (11,233) (11,176)
Net cash flows provided by operating activities 360,420 320,241
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for acquisitions, net of cash acquired (1,900) 0
Capital expenditures (63,280) (48,276)
Payments to trusts for employee deferred compensation plans (17,835) (19,578)
Net cash flows used in investing activities (83,015) (67,854)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchases of common stock (126,326) (201,209)
Cash dividends paid (85,962) (80,169)
Payments for notes payable and other indebtedness (114) (104)
Excess tax benefits from stock-based compensation 812 4,645
Proceeds from exercises of stock options 223 1,511
Net cash flows used in financing activities (211,367) (275,326)
Effect of exchange rate changes on cash and cash equivalents 1,836 (12,362)
Net increase (decrease) in cash and cash equivalents 67,874 (35,301)
Cash and cash equivalents at beginning of period 224,577 287,119
Cash and cash equivalents at end of period 292,451 251,818
Non-cash items:    
Stock repurchases awaiting settlement $ 9,219 $ 1,682