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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES:    
Net income $ 349,394 $ 356,383
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,565 71,487
Share-based compensation 10,002 8,646
Excess tax benefits from share-based compensation (7,540) (5,300)
Changes in operating assets and liabilities 108,071 22,892
NET CASH PROVIDED BY OPERATING ACTIVITIES 530,492 454,108
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (49,711) (37,464)
Acquisitions and other investing activities (305,435) (80,140)
NET CASH USED IN INVESTING ACTIVITIES (355,146) (117,604)
FINANCING ACTIVITIES:    
Proceeds from debt 1,950,000 1,634,587
Payments on debt (1,800,000) (1,552,554)
Share-based awards exercised, net of taxes paid (8,627) (5,914)
Excess tax benefits from share-based compensation 7,540 5,300
Dividends paid (190,934) (181,883)
Purchases of stock (119,397) (145,219)
NET CASH USED IN FINANCING ACTIVITIES (161,418) (245,683)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 8,068 (4,711)
NET INCREASE IN CASH AND CASH EQUIVALENTS 21,996 86,110
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 211,631 137,730
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 233,627 $ 223,840