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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES:    
Net income $ 176,576 $ 160,160
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,363 38,132
Share-based compensation 3,686 2,717
Excess tax benefits from share-based compensation (2,517) (1,546)
Changes in operating assets and liabilities (97,741) (97,643)
NET CASH PROVIDED BY OPERATING ACTIVITIES 138,367 101,820
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (31,633) (24,806)
Acquisitions and other investing activities (38,588) (106,236)
NET CASH USED IN INVESTING ACTIVITIES (70,221) (131,042)
FINANCING ACTIVITIES:    
Proceeds from debt 1,201,441 1,005,000
Payments on debt (1,153,750) (855,000)
Share-based awards exercised (4,176) (1,624)
Dividends paid (99,000) (97,584)
Purchases of stock 0 (91,984)
NET CASH USED IN FINANCING ACTIVITIES (55,485) (41,192)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (1,587) 5,452
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,074 (64,962)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 314,899 242,879
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 325,973 $ 177,917