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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES      
Net income $ 506,421 $ 576,968 $ 664,505
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 101,727 100,449 96,729
Provision for credit losses 17,281 5,853 15,634
Stock-based compensation 43,995 39,083 87,791
Deferred income taxes (32,984) (2,407) (15,315)
Excess tax benefit on stock-based compensation (17,581) (8,492) (10,388)
Other operating activities 15,096 (3,830) 1,815
Changes in operating elements, net of effects of acquisitions:      
Receivables (452,145) 208,312 (190,048)
Contract assets (65,454) 26,761 (11,871)
Prepaid expenses and other 27,237 (29,871) 16,029
Accounts payable and outstanding checks 180,272 (17,968) 36,083
Accrued compensation 22,547 (40,757) 47,011
Accrued transportation expense 52,380 (18,626) 25,175
Accrued income taxes 51,916 (12,636) 21,176
Other accrued liabilities 26,503 8,937 7,200
Other assets and liabilities 21,980 3,643 1,370
Net cash provided by operating activities 499,191 835,419 792,896
INVESTING ACTIVITIES      
Purchases of property and equipment (23,133) (36,290) (45,000)
Purchases and development of software (30,876) (34,175) (18,871)
Acquisitions, net of cash acquired (223,230) (59,200) (5,315)
Other investing activities 5,525 16,636 (3,622)
Net cash used for investing activities (271,714) (113,029) (72,808)
FINANCING ACTIVITIES      
Proceeds from stock issued for employee benefit plans 107,657 63,092 51,285
Stock tendered for payment of withholding taxes (17,854) (15,115) (21,264)
Repurchase of common stock (177,514) (309,444) (300,991)
Cash dividends (209,956) (277,786) (265,219)
Proceeds from long-term borrowings 0 1,298,000 591,012
Payments on long-term borrowings 0 (1,505,000) 0
Proceeds from short-term borrowings 1,436,600 185,000 2,674,000
Payments on short-term borrowings (1,579,600) (90,000) (3,384,000)
Net cash used for financing activities (440,667) (651,253) (655,177)
Effect of exchange rates on cash and cash equivalents 9,128 (1,894) (20,186)
Net change in cash and cash equivalents (204,062) 69,243 44,725
Cash and cash equivalents, beginning of year 447,858 378,615 333,890
Cash and cash equivalents, end of year 243,796 447,858 378,615
Supplemental cash flow disclosures      
Cash paid for income taxes 93,070 219,029 215,644
Cash paid for interest 47,518 50,854 47,544
Accrued share repurchases held in other accrued liabilities $ 5,231 $ 0 $ 3,000