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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows - operating activities:    
Net income $ 75,665 $ 72,410
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 11,767 10,585
Amortization of identifiable intangible assets 14,747 11,610
Provision for (recovery of) credit losses 2,614 (673)
Deferred income taxes 4,375 2,496
Excess tax benefits from share-based compensation (157) (499)
Non-cash share-based compensation expense 3,291 3,557
Other reconciling items 199 467
Changes in operating assets and liabilities, excluding the effect of businesses acquired (191,314) (157,388)
Net cash used in operating activities (78,813) (57,435)
Cash flows - investing activities:    
Payments for acquisitions of businesses, net of cash acquired (2,582) (31,124)
Proceeds from sale or disposal of property, plant and equipment 196 1,023
Purchase of property, plant and equipment (12,035) (13,113)
Investments in and advances to unconsolidated entities 0 (794)
Net cash used in investing activities (14,421) (44,008)
Cash flows - financing activities:    
Proceeds from revolving credit facility 200,000 0
Repayments of revolving credit facility (50,000) 0
Proceeds from long-term debt 300,000 0
Repayments of long-term debt and debt issuance costs (257,549) (3,800)
Repayments of finance lease liabilities (1,277) (1,053)
Dividends paid to stockholders (4,500) (4,480)
Repurchase of common stock (99,048) 0
Taxes paid related to net share settlements of equity awards (2,492) (3,735)
Issuance of common stock under employee stock purchase plan 1,638 1,323
Payments for contingent consideration arrangements (653) (23)
Distributions to noncontrolling interests 0 (40)
Net cash provided by (used in) financing activities 86,119 (11,808)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (4,678) 1,298
Decrease in cash, cash equivalents, and restricted cash (11,793) (111,953)
Cash, cash equivalents, and restricted cash at beginning of year (1) [1] 359,920 366,214
Cash, cash equivalents, and restricted cash at end of period (2) [2] $ 348,127 $ 254,261
[1]
Includes $1.1 million and $2.3 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of December 31, 2019 and 2018, respectively.
[2]
Includes $1.0 million and $2.2 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of March 31, 2020 and 2019, respectively.