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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
OPERATING ACTIVITIES:    
Net income $ 534,720 $ 544,399
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 108,247 105,764
Share-based compensation 15,362 13,582
Excess tax benefits from share-based compensation (10,475) (5,381)
Changes in operating assets and liabilities 93,498 237,623
NET CASH PROVIDED BY OPERATING ACTIVITIES 741,352 895,987
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (86,650) (61,994)
Acquisitions and other investing activities (365,545) (115,414)
NET CASH USED IN INVESTING ACTIVITIES (452,195) (177,408)
FINANCING ACTIVITIES:    
Proceeds from debt 3,020,000 2,537,224
Payments on debt (2,870,000) (2,680,191)
Share-based awards exercised, net of taxes paid (11,942) (6,030)
Excess tax benefits from share-based compensation 10,475 5,381
Dividends paid (288,909) (275,379)
Purchases of stock (143,810) (225,175)
NET CASH USED IN FINANCING ACTIVITIES (284,186) (644,170)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 8,575 (12,845)
NET INCREASE IN CASH AND CASH EQUIVALENTS 13,546 61,564
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 211,631 137,730
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 225,177 $ 199,294