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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 - operating activities:      
Net income including noncontrolling interests $ 325,140 $ 283,577 $ 227,193
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 43,945 38,472 39,915
Amortization of identifiable intangible assets 48,142 42,443 48,594
Provision for doubtful accounts 2,628 2,123 7,264
Deferred income taxes 1,701 4,249 (53,358)
Gain on sale or disposal of property, plant and equipment (3,981) (517) (1,846)
Excess tax benefits from share-based compensation (984) (1,646) (1,616)
Equity loss (income) from unconsolidated entities 2,990 (347) (864)
Non-cash expense for amortization of debt issuance costs 1,186 1,186 1,186
Non-cash expense from contingent consideration arrangements 1,373 186 317
Non-cash expense for impairment of goodwill and identifiable intangible assets 0 907 57,819
Non-cash share-based compensation expense 11,386 11,030 9,939
Non-cash income from changes in unrecognized tax benefits 0 (72) (5,641)
Distributions from unconsolidated entities 1,074 3,110 5,506
Changes in operating assets and liabilities, excluding the effect of businesses acquired:      
Increase in accounts receivable (135,954) (146,101) (80,514)
Decrease (increase) in inventories 4,345 (3,915) (4,936)
(Increase) decrease in contract assets (10,111) (30,935) 12,433
(Decrease) increase in accounts payable (33,971) 78,554 54,910
Increase in contract liabilities 51,310 20,726 24,695
Increase (decrease) in accrued payroll and benefits and other accrued expenses and liabilities 49,551 (24,715) 24,017
Changes in other assets and liabilities, net (4,070) (7,304) 1,036
Net cash provided by operating activities 355,700 271,011 366,049
Cash flows - investing activities:      
Payments for acquisitions of businesses, net of cash acquired (300,980) (72,080) (107,223)
Proceeds from sale or disposal of property, plant and equipment 5,487 1,237 4,014
Purchase of property, plant and equipment (48,432) (43,479) (34,684)
Investments in and advances to unconsolidated entities (2,252) (3,484) (675)
Distributions from unconsolidated entities 838 84 475
Net cash used in investing activities (345,339) (117,722) (138,093)
Cash flows - financing activities:      
Proceeds from revolving credit facility 50,000 0 0
Repayments of revolving credit facility (25,000) 0 (100,000)
Repayments of long-term debt (15,198) (15,235) (15,202)
Repayments of finance lease liabilities (4,571) (1,501) (1,445)
Dividends paid to stockholders (17,950) (18,640) (18,971)
Repurchase of common stock 0 (216,244) (93,166)
Taxes paid related to net share settlements of equity awards (6,451) (3,848) (3,462)
Issuance of common stock under employee stock purchase plan 6,090 5,765 4,793
Payments for contingent consideration arrangements (5,917) (3,339) (1,017)
Distributions to noncontrolling interests (250) 0 0
Net cash used in financing activities (19,247) (253,042) (228,470)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,592 (3,421) 3,242
(Decrease) increase in cash, cash equivalents and restricted cash (6,294) (103,174) 2,728
Cash, cash equivalents and restricted cash at beginning of year (1) [1] 366,214 469,388 466,660
Cash, cash equivalents and restricted cash at end of period (1) [1] $ 359,920 $ 366,214 $ 469,388
[1]
Includes $1.1 million, $2.3 million, $2.0 million and $2.0 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheet as of December 31, 2019, 2018, 2017 and 2016, respectively.