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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 398,514 $ 344,255 $ 399,630
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization 105,298 86,544 85,446
Depreciation 23,417 22,834 22,698
Non-cash stock-based compensation 46,994 33,519 30,631
Change in estimated acquisition earn-out payables (1,366) 2,969 9,200
Deferred income taxes 12,383 15,008 (102,183)
Amortization of debt discount and disposal of deferred financing costs 2,054 1,627 1,840
Accretion of discounts and premiums, investments (5) (10) 22
(Gain)/loss on sales of investments, fixed assets and customer accounts (9,550) (1,934) (1,841)
Payments on acquisition earn-outs in excess of original estimated payables (351) (12,538) (14,501)
Changes in operating assets and liabilities, net of effect from acquisitions and divestitures:      
Premiums, commissions and fees receivable (increase) decrease (86,778) (93,630) (43,306)
Reinsurance recoverables (increase) decrease 6,891 412,424 (399,737)
Prepaid reinsurance premiums (increase) decrease (28,101) (16,903) (12,356)
Other assets (increase) decrease (46,520) (22,440) (9,747)
Premiums payable to insurance companies (increase) decrease 148,658 141,169 37,380
Premium deposits and credits due customers increase (decrease) 7,820 13,792 7,750
Losses and loss adjustment reserve increase (decrease) (6,707) (411,509) 398,638
Unearned premiums increase (decrease) 28,101 16,903 12,356
Accounts payable increase (decrease) 17,800 21,880 26,798
Accrued expenses and other liabilities increase (decrease) 43,330 22,801 25,509
Other liabilities increase (decrease) 16,298 (9,232) (32,252)
Net cash provided by operating activities 678,180 567,529 441,975
Cash flows from investing activities:      
Additions to fixed assets (73,108) (41,520) (24,192)
Payments for businesses acquired, net of cash acquired (353,043) (923,874) (41,471)
Proceeds from sales of fixed assets and customer accounts 21,592 4,984 4,094
Purchases of investments (17,520) (9,284) (10,665)
Proceeds from sales of investments 8,494 17,923 9,644
Net cash used in investing activities (413,585) (951,771) (62,590)
Cash flows from financing activities:      
Payments on acquisition earn-outs (9,566) (14,059) (29,265)
Proceeds from long-term debt 350,000 300,000  
Payments on long-term debt (50,000) (120,000) (96,750)
Deferred debt issuance costs (3,701) (778) (2,821)
Borrowings on revolving credit facilities 100,000 600,000  
Payments on revolving credit facilities (350,000) (250,000)  
Issuances of common stock for employee stock benefit plans 24,999 19,432 17,422
Repurchase of stock benefit plan shares for employees to fund tax withholdings (10,933) (12,155) (7,565)
Purchase of treasury stock (58,671) (91,250) (128,639)
Settlement (prepayment) of accelerated share repurchase program 20,000 (8,750) (11,250)
Cash dividends paid (91,344) (84,690) (77,712)
Net cash provided by (used in) financing activities (79,216) 337,750 (336,580)
Net increase (decrease) in cash and cash equivalents inclusive of restricted cash 185,379 (46,492) 42,805
Cash and cash equivalents inclusive of restricted cash at beginning of period 777,596 824,088 781,283
Cash and cash equivalents inclusive of restricted cash at end of period $ 962,975 $ 777,596 $ 824,088