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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES:    
Net income $ 136,706 $ 162,447
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock compensation expense 10,904 9,124
Excess tax benefit of stock options exercised (10,899) (7,080)
Depreciation 37,225 35,120
Amortization 17,718 15,717
Deferred income taxes 973 8,929
Change in fair value of contingent consideration (640) 3,953
Other, net 6,326 0
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (51,041) (9,606)
Accounts payable 21,019 10,646
Accrued liabilities 22,571 (6,809)
Deferred revenues (3,156) 2,332
Other assets and liabilities (9,046) 13,575
Net cash provided by operating activities 178,660 238,348
INVESTING ACTIVITIES:    
Payments for acquisitions, net of cash acquired (61,766) (304,832)
Proceeds from/ (purchases of) investments 271 (2,052)
Capital expenditures (46,794) (43,668)
Net cash used in investing activities (108,289) (350,552)
FINANCING ACTIVITIES:    
Repayments of long-term debt and other obligations (39,590) (28,005)
Borrowings on foreign bank debt 18,363 96,828
Repayments on foreign bank debt (43,769) (85,192)
Borrowings on term loan 250,000 0
Borrowings on senior credit facility 879,024 933,101
Repayments on senior credit facility (1,072,468) (732,059)
Payments on capital lease obligations (1,951) (1,993)
Payments of deferred financing costs 0 (2,280)
Payment for cash flow hedge (8,833) 0
Purchases and cancellations of treasury stock (85,149) (137,186)
Proceeds from issuance of common stock 39,208 21,195
Excess tax benefit of stock options exercised 10,899 7,080
Payments to noncontrolling interests (2,603) (732)
Net cash (used in) / provided by financing activities (56,869) 70,757
Effect of exchange rate changes on cash and cash equivalents (2,782) (394)
Net increase/ (decrease) in cash and cash equivalents 10,720 (41,841)
Cash and cash equivalents at beginning of period 22,236 67,167
Cash and cash equivalents at end of period 32,956 25,326
NON-CASH ACTIVITIES:    
Issuances of obligations for acquisitions $ 47,827 $ 83,864