XML 18 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES:    
Net Income $ 77,595 $ 75,810
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock compensation expense 6,105 5,487
Excess tax benefit of stock options exercised 0 (8,222)
Depreciation 30,140 18,766
Amortization 18,274 8,797
Deferred income taxes 6,932 (2,957)
Other, net (2,644) 5,313
Changes in operating assets and liabilities, net of effect of acquisitions:    
Accounts receivable (3,918) (14,491)
Accounts payable (15,203) 5,443
Accrued liabilities 21,151 35,924
Deferred revenues 487 (628)
Other assets and liabilities 18,030 3,312
Net cash provided by operating activities 156,949 132,554
INVESTING ACTIVITIES:    
Payments for acquisitions, net of cash acquired (24,884) (34,210)
Proceeds from investments 7 257
Proceeds from sale of property and equipment 766 0
Capital expenditures (34,185) (21,356)
Net cash used in investing activities (58,296) (55,309)
FINANCING ACTIVITIES:    
Repayments of long-term debt and other obligations (6,879) (9,780)
Proceeds from foreign bank debt 15,607 4,851
Repayments of foreign bank debt (18,721) (38,252)
Proceeds from term loan 0 250,000
Repayment of term loan (171,000) 0
Proceeds from senior credit facility 457,959 394,097
Repayments of senior credit facility (353,520) (670,254)
Payments of capital lease obligations (1,381) (988)
Payment of cash flow hedge 0 (8,833)
Purchases and cancellations of treasury stock (37,693) (11,516)
Proceeds from issuance of common stock 22,310 27,452
Dividends paid on mandatory convertible preferred stock (10,106) 0
Excess tax benefit of stock options exercised 0 8,222
Payments to noncontrolling interests (4,997) (2,603)
Net cash used in financing activities (108,421) (57,604)
Effect of exchange rate changes on cash and cash equivalents (211) (3,594)
Net (decrease)/ increase in cash and cash equivalents (9,979) 16,047
Cash and cash equivalents at beginning of period 55,634 22,236
Cash and cash equivalents at end of period 45,655 38,283
NON-CASH INVESTING ACTIVITIES:    
Issuances of obligations for acquisitions $ 13,013 $ 21,543