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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES:    
Net income $ 508,574 $ 534,720
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 117,640 108,247
Share-based compensation 12,912 15,362
Excess tax benefits from share-based compensation (2,504) (10,475)
Changes in operating assets and liabilities (94,265) 93,498
NET CASH PROVIDED BY OPERATING ACTIVITIES 542,357 741,352
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (97,181) (86,650)
Acquisitions and other investing activities (289,353) (365,545)
NET CASH USED IN INVESTING ACTIVITIES (386,534) (452,195)
FINANCING ACTIVITIES:    
Proceeds from debt 3,420,000 3,020,000
Payments on debt (3,150,000) (2,870,000)
Share-based awards exercised (3,289) (11,942)
Excess tax benefits from share-based compensation 0 10,475
Dividends paid (296,517) (288,909)
Purchases of stock (171,884) (143,810)
NET CASH USED IN FINANCING ACTIVITIES (201,690) (284,186)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 13,070 8,575
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (32,797) 13,546
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 242,879 211,631
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 210,082 $ 225,177