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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES      
Net income $ 576,968 $ 664,505 $ 504,893
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 100,449 96,729 92,977
Provision for doubtful accounts 5,853 15,634 13,489
Stock-based compensation 39,083 87,791 41,805
Deferred income taxes (2,407) (15,315) (28,096)
Excess tax benefit on stock-based compensation (8,492) (10,388) (13,657)
Other operating activities (3,830) 1,815 4,491
Changes in operating elements, net of effects of acquisitions:      
Receivables 208,312 (190,048) (364,181)
Contract assets 26,761 (11,871) 0
Prepaid expenses and other (29,871) 16,029 (9,173)
Accounts payable and outstanding checks (17,968) 36,083 144,041
Accrued compensation (40,757) 47,011 7,209
Accrued transportation expense (18,626) 25,175 0
Accrued income taxes (12,636) 21,176 18,817
Other accrued liabilities 8,937 7,200 (9,515)
Other assets and liabilities 3,643 1,370 (19,099)
Net cash provided by operating activities 835,419 792,896 384,001
INVESTING ACTIVITIES      
Purchases of property and equipment (36,290) (45,000) (40,122)
Purchases and development of software (34,175) (18,871) (17,823)
Acquisitions, net of cash acquired (59,200) (5,315) (49,068)
Other investing activities 16,636 (3,622) (521)
Net cash used for investing activities (113,029) (72,808) (107,534)
FINANCING ACTIVITIES      
Proceeds from stock issued for employee benefit plans 63,092 51,285 38,130
Stock tendered for payment of withholding taxes (15,115) (21,264) (21,557)
Repurchase of common stock (309,444) (300,991) (185,485)
Cash dividends (277,786) (265,219) (258,222)
Proceeds from long-term borrowings 1,298,000 591,012 250,000
Payments on long-term borrowings (1,505,000) 0 0
Proceeds from short-term borrowings 185,000 2,674,000 8,784,000
Payments on short-term borrowings (90,000) (3,384,000) (8,809,000)
Net cash used for financing activities (651,253) (655,177) (202,134)
Effect of exchange rates on cash and cash equivalents (1,894) (20,186) 11,891
Net change in cash and cash equivalents 69,243 44,725 86,224
Cash and cash equivalents, beginning of year 378,615 333,890 247,666
Cash and cash equivalents, end of year 447,858 378,615 333,890
Supplemental cash flow disclosures      
Cash paid for income taxes 219,029 215,644 262,861
Cash paid for interest 50,854 47,544 37,871
Accrued share repurchases held in other accrued liabilities $ 0 $ 3,000 $ 500