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CONSOLIDATED STATEMENTS OF STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income $ 191,497 $ 118,626
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 46,902 43,522
Provision for deferred income taxes (1,715) 3,055
Provision for expected credit losses 4,673 9,769
Gain on sale of assets, net (33,151) (726)
Stock based compensation expense 7,841 7,640
Other, net (62) (352)
Changes in operating assets and liabilities 3,220 53,238
Net cash provided by operating activities 219,205 234,772
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (28,385) (56,030)
Purchases of equipment and property (13,229) (12,441)
Proceeds from sales of assets 70,414 1,330
Proceeds from sales of franchises 99 285
Other, net (274) 490
Net cash provided by/(used in) investing activities 28,625 (66,366)
FINANCING ACTIVITIES    
Payment of contingent consideration (12,873) (7,862)
Borrowings under revolving commitment 49,500 68,000
Repayments of term loan (48,000) (7,000)
Repayments of revolving commitment (116,500) (97,500)
Payment of dividends (79,732) (65,531)
Cash paid for common stock purchased (10,289) (8,085)
Net cash used in financing activities (217,894) (117,978)
Effect of exchange rate changes on cash 115 (9,875)
Net increase in cash and cash equivalents 30,051 40,553
Cash and cash equivalents at beginning of period 98,477 94,276
Cash and cash equivalents at end of period 128,528 134,829
Supplemental disclosure of cash flow information:    
Non-cash additions to operating lease right-of-use assets $ 86,954 $ 52,273