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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES:    
Net income $ 160,160 $ 158,025
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,132 34,654
Share-based compensation 2,717 4,249
Excess tax benefits from share-based compensation (1,546) (5,144)
Changes in operating assets and liabilities (97,643) (56,739)
NET CASH PROVIDED BY OPERATING ACTIVITIES 101,820 135,045
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (24,806) (11,670)
Acquisitions and other investing activities (106,236) (73,625)
NET CASH USED IN INVESTING ACTIVITIES (131,042) (85,295)
FINANCING ACTIVITIES:    
Proceeds from debt 1,005,000 975,000
Payments on debt (855,000) (900,000)
Share-based awards exercised, net of taxes paid (1,624) (5,586)
Excess tax benefits from share-based compensation 0 5,144
Dividends paid (97,584) (92,596)
Purchases of stock (91,984) (46,431)
NET CASH USED IN FINANCING ACTIVITIES (41,192) (64,469)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 5,452 8,223
NET DECREASE IN CASH AND CASH EQUIVALENTS (64,962) (6,496)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 242,879 211,631
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 177,917 $ 205,135