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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES:    
Net income $ 403,548 $ 350,132
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 116,814 77,364
Share-based compensation 9,035 8,086
Excess tax benefits from share-based compensation (2,599) (2,245)
Changes in operating assets and liabilities (71,723) (88,053)
NET CASH PROVIDED BY OPERATING ACTIVITIES 455,075 345,284
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (65,146) (54,095)
Acquisitions and other investing activities (82,545) (240,216)
NET CASH USED IN INVESTING ACTIVITIES (147,691) (294,311)
FINANCING ACTIVITIES:    
Proceeds from debt 2,320,906 2,250,000
Payments on debt (2,367,284) (1,995,000)
Share-based awards exercised (4,851) (3,014)
Dividends paid (204,649) (197,408)
Purchases of stock 0 (153,508)
NET CASH USED IN FINANCING ACTIVITIES (255,878) (98,930)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (11,264) 8,223
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 40,242 (39,734)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 314,899 242,879
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 355,141 $ 203,145