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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 | $ 170,728 | $ 144,164
Adjustments to reconcile net income to cash provided by operations: |  |
Depreciation and amortization | 53,227 | 51,051
Stock-based compensation expense | 13,983 | 11,879
Loss on disposal of property, plant and equipment | 1,353 | 525
Changes in operating assets and liabilities, net of acquisitions |  |
Accounts receivable and unbilled accounts receivable | (59,979) | (66,544)
Inventories | (116,131) | (48,406)
Accounts payable | 59,411 | (75,761)
Accrued income taxes | (202) | (23,025)
Accrued liabilities and customer deposits | 27,545 | 86,937
Other assets and liabilities | (82,031) | (94,523)
Net cash provided by (used for) operating activities | 67,904 | (13,703)
Investing Activities |  |
Purchase of property, plant and equipment | (39,723) | (38,425)
Proceeds from disposal of property, plant and equipment | 8,900 | 471
Acquisitions of businesses, net of cash acquired | (38,277) | (846,675)
Net cash used for investing activities | (69,100) | (884,629)
Financing Activities |  |
Proceeds from debt | 591,890 | 745,035
Payments of debt | (546,394) | (680,145)
Proceeds from exercise of stock options and other benefit plans | 6,867 | 2,679
Payment of income tax withholding on share-based compensation | (6,503) | (6,802)
Cash dividends ($0.12 and $0.20 per share for the six months ended June 30, 2018 and 2017, respectively) | (23,096) | (19,177)
Net cash provided by financing activities | 22,764 | 41,590
Effect of changes in currency exchange rates | (9,395) | 42,032
Increase (Decrease) in cash | 12,173 | (814,710)
Cash, cash equivalents and restricted cash, beginning of period | 233,401 | 1,143,232
Cash and cash equivalents, end of period | $ 245,574 | $ 328,522

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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82887183&loc=d3e6676-107765 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=98514028&loc=d3e3044-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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