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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES    
Net income $ 352,337 $ 391,081
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,340 52,716
Provision for doubtful accounts 11,176 2,738
Stock-based compensation 24,509 30,626
Deferred income taxes (6,779) 21,832
Excess tax benefit on stock-based compensation (11,908) (17,207)
Loss on sale/disposal of assets 1,352 566
Changes in operating elements (net of acquisitions):    
Receivables (377,280) (137,813)
Prepaid expenses and other 677 (12,148)
Other non-current assets (2,220) (2,793)
Accounts payable and outstanding checks 166,152 93,510
Accrued compensation (6,102) (50,105)
Accrued income taxes 7,873 14,048
Other accrued liabilities (10,778) (10,223)
Net cash provided by operating activities 218,349 376,828
INVESTING ACTIVITIES    
Purchases of property and equipment (32,132) (56,125)
Purchases and development of software (14,286) (14,986)
Acquisitions, net of cash acquired (48,446) (220,203)
Other 204 (735)
Net cash used for investing activities (94,660) (292,049)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 23,270 16,003
Stock tendered for payment of withholding taxes (20,746) (36,220)
Repurchase of common stock (129,991) (109,085)
Cash dividends (192,765) (191,129)
Excess tax benefit on stock-based compensation 0 17,207
Proceeds from long-term borrowings 250,000 0
Proceeds from short-term borrowings 6,448,000 4,415,000
Payments on short-term borrowings (6,469,000) (4,140,000)
Net cash used for financing activities (91,232) (28,224)
Effect of exchange rates on cash 17,184 (335)
Net increase in cash and cash equivalents 49,641 56,220
Cash and cash equivalents, beginning of period 247,666 168,229
Cash and cash equivalents, end of period 297,307 224,449
Noncash transactions from investing and financing activities:    
Accrued share repurchases held in other accrued liabilities 4,000 2,985
Accrued purchases of property and equipment $ 800 $ 4,332