XML 19 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 158,837 $ 175,032
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 666 602
Depreciation expense 31,845 30,710
Stock-based compensation expense—restricted stock and stock units 20,727 22,093
Excess tax benefits from stock-based compensation 0 (802)
Deferred income taxes 18 (2,070)
Provision for doubtful accounts 3,421 3,213
Changes in assets and liabilities:    
Decrease (increase) in accounts receivable 3,376 (29,330)
Increase in accounts payable, accrued expenses, accrued payroll and benefit costs 38 7,215
Increase in income taxes payable 49,229 9,741
Change in other assets, net of change in other liabilities (10,097) (9,210)
Net cash flows provided by operating activities 258,060 207,194
CASH FLOWS FROM INVESTING ACTIVITIES:    
Payments for acquisitions, net of cash acquired (1,643) (1,400)
Capital expenditures (21,186) (43,740)
Payments to trusts for employee deferred compensation plans (15,245) (11,251)
Net cash flows used in investing activities (38,074) (56,391)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchases of common stock (129,243) (81,544)
Cash dividends paid (61,448) (57,895)
Payments for notes payable and other indebtedness (82) (75)
Excess tax benefits from stock-based compensation 0 802
Proceeds from exercises of stock options 0 78
Net cash flows used in financing activities (190,773) (138,634)
Effect of exchange rate changes on cash and cash equivalents 8,384 1,968
Net increase in cash and cash equivalents 37,597 14,137
Cash and cash equivalents at beginning of period 260,201 224,577
Cash and cash equivalents at end of period 297,798 238,714
Non-cash items:    
Stock repurchases awaiting settlement $ 1,255 $ 7,392