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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net income $ 180,695 $ 145,389
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,149 41,630
Provision for deferred income taxes 4,604 9,386
Provision for bad debts 9,509 7,222
Stock - based compensation expense 10,030 9,406
Other, net (1,920) (728)
Changes in operating assets and liabilities (39,793) (22,918)
Net cash provided by operating activities 213,274 189,387
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (71,785) (127,881)
Purchases of equipment and property (19,645) (17,217)
Proceeds from sales of franchises 343 437
Other 1,002 67
Net cash used in investing activities (90,085) (144,594)
FINANCING ACTIVITIES    
Cash paid for common stock purchased (9,533) (8,193)
Dividends paid (91,677) (75,182)
Net cash used in financing activities (101,210) (83,375)
Effect of exchange rate changes on cash (10,377) 9,194
Net increase/(decrease) in cash and cash equivalents 11,602 (29,388)
Cash and cash equivalents at beginning of period 107,050 142,785
Cash and cash equivalents at end of period $ 118,652 $ 113,397