XML 16 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net income $ 301,460 $ 233,151
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 48,479 45,377
Provision for doubtful accounts 9,055 7,669
Stock-based compensation 44,704 16,842
Deferred income taxes (9,014) (4,988)
Excess tax benefit on stock-based compensation (7,502) (10,583)
Loss on disposal of assets 668 536
Changes in operating elements (net of acquisitions):    
Receivables (214,620) (244,682)
Contract assets (34,483) 0
Prepaid expenses and other 5,326 (9,646)
Other non-current assets 3,243 (1,016)
Accounts payable and outstanding checks 101,770 135,130
Accrued transportation expense 45,420 0
Accrued compensation (7,381) (23,353)
Accrued income taxes 12,068 10,185
Other accrued liabilities 9,277 (4,611)
Net cash provided by operating activities 308,470 150,011
INVESTING ACTIVITIES    
Purchases of property and equipment (20,569) (24,105)
Purchases and development of software (9,514) (8,865)
Acquisitions, net of cash acquired (1,315) (1,780)
Other (1,546) (1,095)
Net cash used for investing activities (32,944) (35,845)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 35,846 19,814
Stock tendered for payment of withholding taxes (18,893) (19,626)
Repurchase of common stock (119,497) (70,494)
Cash dividends (130,559) (128,806)
Proceeds from long-term borrowings 591,012 250,000
Proceeds from short-term borrowings 2,418,000 4,282,000
Payments on short-term borrowings (3,067,000) (4,430,000)
Net cash used for financing activities (291,091) (97,112)
Effect of exchange rates on cash (7,750) 8,462
Net change in cash and cash equivalents (23,315) 25,516
Cash and cash equivalents, beginning of period 333,890 247,666
Cash and cash equivalents, end of period 310,575 273,182
Noncash transactions from investing and financing activities:    
Accrued share repurchases held in other accrued liabilities 2,400 0
Accrued purchases of property and equipment $ 1,677 $ 1,500