XML 15 R5.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 earnings $ 337,627 $ 309,485
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property, plant and equipment 24,284 19,052
Amortization of intangible assets 147,186 99,719
Amortization of deferred financing costs 3,642 2,717
Non-cash stock compensation 43,864 39,092
Gain on sale of assets (9,393) 0
Changes in operating assets and liabilities, net of acquired businesses:    
Accounts receivable 50,140 (13,956)
Unbilled receivables (16,943) 3,754
Inventories (13,177) (104)
Accounts payable and accrued liabilities 15,292 (7,552)
Deferred revenues 33,344 9,834
Income taxes (51,019) (77,931)
Other, net (14,755) (7,278)
Cash provided by operating activities 550,092 376,832
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired (35,515) (274,968)
Capital expenditures (24,797) (18,348)
Capitalized software expenditures (5,725) (1,249)
Proceeds from sale of assets 10,506 758
Other, net (6,531) 570
Cash used in investing activities (62,062) (293,237)
Cash flows from financing activities:    
Payments under revolving line of credit, net (570,000) (180,000)
Principal payments on convertible notes 0 (289)
Cash premiums paid on convertible note conversions 0 (915)
Cash dividends to stockholders (70,937) (60,383)
Proceeds from stock based compensation, net 20,711 8,516
Treasury stock sales 2,045 1,715
Other (191) (621)
Cash used in financing activities (618,372) (231,977)
Effect of foreign currency exchange rate changes on cash 36,486 (7,835)
Net decrease in cash and cash equivalents (93,856) (156,217)
Cash and cash equivalents, beginning of period 757,200 778,511
Cash and cash equivalents, end of period $ 663,344 $ 622,294