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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income $ 452,385 $ 362,431 $ 368,707
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 36,456 30,462 21,097
Stock-based compensation 63,946 90,122 37,649
Provision for losses on accounts receivable 35,885 24,629 24,412
Amortization of deferred financing costs and discounts 7,582 7,049 2,796
Loss on extinguishment of debt 0 0 15,764
Amortization of intangible assets 161,635 159,740 86,149
Amortization of premium on receivables 5,165 3,250 3,259
Deferred income taxes (28,681) 30,626 41,716
Equity method investment loss 36,356 57,668 8,586
Other non-cash operating expenses (690) (4,242) (27,501)
Changes in operating assets and liabilities (net of acquisitions):      
Restricted cash (2,306) (35,676) 6,625
Accounts receivable (338,796) 40,017 246,465
Prepaid expenses and other current assets 5,301 (12,564) 2,820
Other assets (20,345) (2,524) 12,455
Excess tax benefits related to stock-based compensation 0 (26,427) (56,790)
Accounts payable, accrued expenses and customer deposits 292,019 30,023 (185,875)
Net cash provided by operating activities 705,912 754,584 608,334
Investing activities      
Acquisitions, net of cash acquired1 [1] (1,331,985) (49,069) (2,395,778)
Purchases of property and equipment (59,011) (41,875) (27,070)
Other 1,411 (8,470) (171,239)
Net cash used in investing activities (1,389,585) (99,414) (2,594,087)
Financing activities      
Excess tax benefits related to stock-based compensation 0 26,427 56,790
Proceeds from issuance of common stock 21,231 19,926 29,641
(Payments) borrowings on securitization facility, net (23,000) (61,000) 326,000
Repurchase of common stock (187,678) 0 0
Deferred financing costs paid (2,272) 0 (43,943)
Proceeds from notes payable 600,000 0 2,320,000
Principal payments on notes payable (118,500) (103,500) (546,875)
Borrowings (payments) from swing line of credit, net 26,606 (546) 4,990
Payment of contingent consideration 0 (42,177) 0
Other (676) (377) (731)
Net cash provided by (used in) financing activities 753,969 (648,065) 2,162,265
Effect of foreign currency exchange rates on cash (42,430) (37,022) (37,548)
Net increase (decrease) in cash 27,866 (29,917) 138,964
Cash and cash equivalents, beginning of year 447,152 477,069 338,105
Cash and cash equivalents, end of year 475,018 447,152 477,069
Supplemental cash flow information      
Cash paid for interest 70,339 72,537 29,098
Cash paid for income taxes 101,951 83,380 79,124
Revolving A Facility      
Financing activities      
Borrowings from revolver —A Facility 1,225,107 0 807,330
Payments on revolver and foreign revolver facilities (786,849) (486,818) (783,600)
Revolving B Facility      
Financing activities      
Payments on revolver and foreign revolver facilities $ 0 $ 0 $ (7,337)
[1] Amounts reported in acquisitions and investment, net of cash acquired, includes debt assumed and immediately repaid in acquisitions.