Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	[2]
Operating activities
Net income	$ 254,680	$ 227,343	[1]
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	21,593	16,311
Stock-based compensation	44,243	32,620
Provision for losses on accounts receivable	27,648	13,729
Amortization of deferred financing costs and discounts	3,800	3,651
Amortization of intangible assets	104,894	66,114
Amortization of premium on receivables	3,088	2,339
Deferred income taxes	(32,660)	(9,248)
Equity method investment loss (income)	4,731	(4,991)	[1]
Other non-cash operating income	0	(446)
Changes in operating assets and liabilities (net of acquisitions):
Restricted cash	(28,739)	13,555
Accounts and other receivables	(380,196)	(392,545)
Prepaid expenses and other current assets	(18,778)	(4,636)
Other assets	(15,050)	(9,362)
Accounts payable, accrued expenses and customer deposits	189,750	257,608
Net cash provided by operating activities	179,004	212,042
Investing activities
Acquisitions, net of cash acquired	(3,580)	(5,299)
Purchases of property and equipment	(32,600)	(24,757)
Other	(6,327)	(7,868)
Net cash used in investing activities	(42,507)	(37,924)
Financing activities
Proceeds from issuance of common stock	16,432	7,964
Repurchase of common stock	(52,393)	(26,037)
Borrowings on securitization facility, net	150,000	99,000
Principal payments on notes payable	(66,725)	(51,750)
Borrowings from revolver – A Facility	90,000	140,000
Payments on revolver – A Facility	(215,901)	(290,000)
Borrowings on swing line of credit, net	10,245	0
Other	537	(666)
Net cash used in financing activities	(67,805)	(121,489)
Effect of foreign currency exchange rates on cash	20,868	(6,696)
Net increase in cash and cash equivalents	89,560	45,933
Cash and cash equivalents, beginning of period	475,018	447,152
Cash and cash equivalents, end of period	564,578	493,085
Supplemental cash flow information
Cash paid for interest	68,431	30,361
Cash paid for income taxes	$ 188,157	$ 64,345

[1] Reflects the impact of the Company's adoption of Accounting Standards Update 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, to simplify several aspects of the accounting for share-based compensation, including the income tax consequences.

[2] Reflects the impact of the Company's adoption of Accounting Standards Update 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, to simplify several aspects of the accounting for share-based compensation, including the income tax consequences.