XML 22 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME $ 295.6 $ 197.6
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization of fixed assets and intangible assets 117.5 116.3
Provision for uncollectible receivables 13.6 12.2
Amortization of restricted stock and other non-cash compensation 59.0 49.7
Net amortization of bond discounts and deferred financing costs 4.2 4.2
Deferred income tax provision (benefit) 2.6 (33.7)
Losses on sales of businesses 16.1 38.1
Other 29.0 13.0
Changes in assets and liabilities, net of acquisitions and dispositions, providing (using) cash:    
Accounts receivable 666.3 308.0
Expenditures billable to clients (241.2) (235.1)
Other current assets (21.3) (12.1)
Accounts payable (696.3) (538.7)
Accrued liabilities (207.9) (110.3)
Other non-current assets and liabilities (72.0) (47.5)
Net cash used in operating activities (34.8) (238.3)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (114.5) (80.7)
Acquisitions, net of cash acquired (47.9) (5.9)
Other investing activities (5.8) (3.9)
Net cash used in investing activities (168.2) (90.5)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of common stock (193.3) (172.3)
Common stock dividends (179.6) (147.2)
Acquisition-related payments (36.7) (31.8)
Net (decrease) increase in short term bank borrowings (26.0) 29.4
Tax payments for employee shares withheld (22.7) (17.4)
Distributions to noncontrolling interests (10.8) (13.1)
Exercise of stock options 10.2 11.8
Excess tax benefit on share-based compensation 0.0 9.0
Other financing activities (0.1) 2.6
Net cash used in financing activities (459.0) (329.0)
Effect of foreign exchange rate changes on cash and cash equivalents 50.7 (128.5)
Net decrease in cash and cash equivalents (611.3) (786.3)
Cash and cash equivalents at beginning of period 1,502.9 1,660.6
Cash and cash equivalents at end of period $ 891.6 $ 874.3