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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities    
Net income $ 212,603 $ 267,076
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization 76,970 49,375
Stock-based compensation expense 14,539 14,788
Loss on disposal of property, plant and equipment 1,633 151
Excess income tax benefits from exercise of stock options 0 (446)
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable and unbilled accounts receivable (60,246) (38,362)
Inventories (53,365) 2,301
Accounts payable (121,389) (43,777)
Accrued income taxes (35,942) 5,952
Accrued liabilities and customer deposits 81,270 (8,353)
Other assets and liabilities (89,562) (1,812)
Net cash provided by operating activities 26,511 246,893
Investing Activities    
Purchase of property, plant and equipment (60,263) (31,676)
Proceeds from disposal of property, plant and equipment 1,066 140
Acquisitions of businesses, net of cash acquired (114,175) (84,355)
Release of deposit in escrow 23,548 0
Net cash used for investing activities (149,824) (115,891)
Financing Activities    
Proceeds from debt 883,473 346,000
Payments of debt (918,919) (215,850)
Purchase of treasury stock 0 (212,176)
Proceeds from exercise of stock options and other benefit plans 2,888 1,773
Payment of income tax withholding on share-based compensation (6,798) (9,006)
Excess income tax benefits from exercise of equity options 0 446
Cash dividends ($0.32 and $0.26 per share for the nine months ended September 30, 2017 and 2016, respectively) (30,693) (23,523)
Net cash used for financing activities (70,049) (112,336)
Effect of changes in currency exchange rates 22,958 5,525
(Decrease) Increase in cash (170,404) 24,191
Cash, beginning of period 398,484 226,191
Cash, end of period $ 228,080 $ 250,382