CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 542,767	$ 516,644
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	312,055	300,770
Debt refinancing charges	884	0
Impairment charges	0	41,037
Stock-based compensation expense	42,125	29,045
Deferred income taxes	132,101	60,706
Equity investment (loss) income, net	(6,494)	2,631
Loss on sales of business interests, net	16,252	23,022
Other non-cash charges, net	(5,885)	25,857
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:
Accounts receivable	15,194	(288,437)
Inventories	(696)	11,542
Other receivables and other current assets	(131,988)	(5,142)
Other long-term assets	1,950	(410)
Accounts payable	(15,858)	(68,887)
Accrued compensation and benefits	(19,325)	(88,473)
Other current liabilities	146,490	151,780
Income taxes	(4,800)	57,551
Other long-term liabilities	(13,269)	(18,121)
Net cash provided by operating activities	1,011,503	751,115
Cash flows from investing activities:
Additions of property and equipment	(291,667)	(373,918)
Acquisitions	(44,267)	(65,970)
Proceeds from asset and business sales	70,615	3,851,381
Purchase of debt investments held-to-maturity	(142,483)	(3,322)
Purchase of other debt and equity investments	(3,034)	(4,812)
Proceeds from debt investments held-to-maturity	7,621	0
Proceeds from sale of other debt and equity investments	3,438	5,893
Purchase of equity method investments	(8,101)	(6,715)
Distributions from equity method investments	739	155
Net cash (used in) provided by investing activities	(407,139)	3,402,692
Cash flows from financing activities:
Borrowings	2,324,300	32,367,300
Payments on long-term debt	(635,695)	(33,527,788)
Deferred financing and debt redemption costs	(20,375)	(3,621)
Purchase of treasury stock	(321,798)	(73,078)
Distributions to noncontrolling interests	(118,553)	(95,714)
Stock award exercises and other share issuances, net	(2,106)
Stock award exercises and other share issuances, net		2,107
Contributions from noncontrolling interests	20,582	31,281
Purchases of noncontrolling interests	(6,782)	(11,040)
Net cash provided by (used in) financing activities	1,239,573	(1,310,553)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(16,936)	(77)
Net increase in cash, cash equivalents and restricted cash	1,827,001	2,843,177
Cash, cash equivalents and restricted cash of continuing operations at beginning of the year	1,208,718	415,420
Cash, cash equivalents and restricted cash of continuing operations at end of the year	3,035,719	3,682,410
Discontinued Operations
Cash flows from financing activities:
Net increase in cash, cash equivalents and restricted cash	0	(423,813)
Continuing Operations
Cash flows from financing activities:
Net increase in cash, cash equivalents and restricted cash	$ 1,827,001	$ 3,266,990

This item represents the entity's proportionate share for the period of the undistributed net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment.

No definition available.