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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 133,441 $ 139,646
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 57,964 62,833
Equity method earnings 0 (456)
Gain on step acquisitions 0 (13,644)
Loss on extinguishment of debt 0 7,220
Foreign currency losses 4,145 14,960
Stock-based compensation 9,649 20,311
Deferred taxes 1,945 (658)
Non-cash lease expense 33,494 0
Changes in operating assets and liabilities:    
Accounts receivable (3,981) (14,345)
Inventories, net 6,775 (26,865)
Prepaid expenses and other (21,097) (28,387)
Other assets (27,101) (2,150)
Accounts payable (6,609) (3,821)
Accrued expenses (62,679) (33,178)
Other liabilities 2,082 (7,616)
Net cash provided by operating activities 128,028 113,850
Cash flows from investing activities:    
Purchases of property and equipment (52,784) (42,293)
Proceeds on investment sales 11,160 11,536
Purchases of investments (8,432) (11,420)
Acquisitions and investments in equity investees (8,073) (33,061)
Net cash used in investing activities (58,129) (75,238)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards (2,326) 8,993
Payments of debt (209,455) (534,341)
Payment of cash dividends (61,636) (60,395)
Payment of debt issuance costs 0 (7,243)
Proceeds from debt 145,000 582,398
Repurchases of shares of common stock (825) (48,222)
Net cash used in financing activities (129,242) (58,810)
Effect of exchange rate changes on cash (7,534) (16,135)
Net increase (decrease) in cash and cash equivalents (66,877) (36,333)
Cash and cash equivalents, beginning of period 386,911 426,399
Cash and cash equivalents, end of period $ 320,034 $ 390,066