XML 16 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES    
Net income $ 118,963 $ 106,476
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,875 16,243
Provision for doubtful accounts 85 3,991
Stock-based compensation 15,179 15,336
Deferred income taxes 15,350 426
Loss on sale/disposal of assets 180 429
Changes in operating elements (net of acquisitions):    
Receivables 42,295 (27,599)
Prepaid expenses and other (7,378) (12,639)
Other non-current assets 0 1,435
Accounts payable and outstanding checks (22,783) 21,105
Accrued compensation and profit-sharing contribution (84,431) (64,709)
Accrued income taxes 18,905 48,390
Other accrued liabilities (9,090) (8,489)
Net cash provided by operating activities 104,150 100,395
INVESTING ACTIVITIES    
Purchases of property and equipment (13,121) (3,895)
Purchases and development of software (4,704) (2,771)
Acquisitions, net of cash acquired 0 (369,143)
Restricted cash 0 359,388
Other (770) 462
Net cash used for investing activities (18,595) (15,959)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 6,990 6,914
Stock tendered for payment of withholding taxes (32,270) (9,324)
Repurchase of common stock (21,249) (37,930)
Cash dividends (63,888) (57,335)
Excess tax benefit on stock-based compensation 13,827 4,842
Proceeds from short-term borrowings 1,480,000 2,025,000
Payments on short-term borrowings (1,460,000) (2,000,000)
Net cash used for financing activities (76,590) (67,833)
Effect of exchange rates on cash 2,212 (9,760)
Net increase in cash and cash equivalents 11,177 6,843
Cash and cash equivalents, beginning of period 168,229 128,940
Cash and cash equivalents, end of period $ 179,406 $ 135,783