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CONSOLIDATED STATEMENTS OF STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net income $ 198,205 $ 152,582
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65,926 58,505
Provision for deferred income taxes 3,701 (6,972)
Provision for bad debts 12,820 10,216
Stock-based compensation expense 18,151 10,891
Other, net 2,052 (951)
Changes in operating assets and liabilities 39,752 19,619
Net cash provided by operating activities 340,607 243,890
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (79,880) (431,249)
Purchases of equipment and property (17,690) (18,701)
Proceeds from sales of franchises 430 612
Other 2,609 1,370
Net cash used in investing activities (94,531) (447,968)
FINANCING ACTIVITIES    
Payment of contingent consideration (24,168) (13,572)
Repayment of term loan (20,000) (27,000)
Repayment on revolving commitment (169,500) (45,000)
Borrowings on term loan 250,000
Borrowings on revolving commitment 68,000 148,000
Cash paid for common stock purchased (8,085) (9,935)
Dividends paid (91,745) (103,093)
Net cash (used in)/provided by financing activities (245,498) 199,400
Effect of exchange rate changes on cash 586 (6,445)
Net increase/(decrease) in cash and cash equivalents 1,164 (11,143)
Cash and cash equivalents at beginning of period 94,276 115,485
Cash and cash equivalents at end of period 95,440 104,342
Supplemental disclosure of cash flow information:    
Non-cash additions to operating lease right-of-use assets $ 67,877 $ 54,657