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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING ACTIVITIES    
Net income $ 161,788 $ 142,297
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,560 24,241
Provision for doubtful accounts 1,774 6,630
Stock-based compensation 17,123 18,134
Deferred income taxes (364) (26)
Excess tax benefit on stock-based compensation (4,458) (6,224)
Other operating activities 576 323
Changes in operating elements (net of acquisitions):    
Receivables 117,720 (10,056)
Contract assets (5,921) (13,264)
Prepaid expenses and other (6,367) 6,327
Accounts payable and outstanding checks (10,742) 21,797
Accrued compensation (87,259) (37,867)
Accrued transportation expense 7,331 17,109
Accrued income taxes 39,078 35,184
Other accrued liabilities 1,801 (5,128)
Other assets and liabilities 291 1,093
Net cash provided by operating activities 256,931 200,570
INVESTING ACTIVITIES    
Purchases of property and equipment (8,619) (11,719)
Purchases and development of software (5,246) (3,744)
Acquisitions, net of cash acquired (44,143) 0
Other investing activities 8 (726)
Net cash used for investing activities (58,000) (16,189)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 19,615 24,497
Stock tendered for payment of withholding taxes (12,042) (18,091)
Repurchase of common stock (67,624) (47,700)
Cash dividends (69,742) (65,382)
Proceeds from short-term borrowings 14,000 2,119,000
Payments on short-term borrowings (19,000) (2,183,000)
Net cash used for financing activities (134,793) (170,676)
Effect of exchange rates on cash 2,720 2,187
Net change in cash and cash equivalents 66,858 15,892
Cash and cash equivalents, beginning of period 378,615 333,890
Cash and cash equivalents, end of period $ 445,473 $ 349,782