Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES      
Net Income $ 152,149 $ 137,664 $ 123,330
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash charges 42,139 42,277 39,304
Provision for deferred income taxes 3,493 8,440 356
Stock based compensation expense 12,110 10,579 10,427
Excess tax benefits from share-based payments (1,946) (4,744) (3,722)
Provision for bad debts 10,113 11,197 10,388
Changes in assets and liabilities:      
Trade accounts receivables and other accounts receivables (12,494) (13,369) (13,617)
Financed receivables (3,630) (941) (950)
Materials and supplies 814 (1,525) (118)
Other current assets (2,144) (10,678) (4,613)
Other non-current assets 154 7,200 (1,343)
Accounts payable and accrued expenses (2,039) 15,273 4,918
Unearned revenue 2,822 2,497 3,561
Accrued insurance 126 1,274 (1,572)
Pension funding (5,000) (5,250) (5,000)
Long-term accrued liabilities (311) (5,748) 1,316
Net cash provided by operating activities 196,356 194,146 162,665
INVESTING ACTIVITIES      
Cash used for acquisitions of companies, net of cash acquired (33,462) (63,335) (12,632)
Capital expenditures (39,495) (28,739) (18,632)
Cash from sales of franchises 767 565 102
Proceeds from sales of assets 2,752 2,038 372
Investment Tax Credits (504)    
Net cash used in investing activities (69,942) (89,471) (30,790)
FINANCING ACTIVITIES      
Payment of Dividends (91,755) (75,750) (65,658)
Cash paid for common stock purchased (7,407) (35,513) (13,723)
Excess tax benefits from share-based payments $ 1,946 $ 4,744 3,722
Proceeds received upon exercise of stock options 6
Net cash used in financing activities $ (97,216) $ (106,519) (75,653)
Effect of exchange rate changes on cash (2,996) (8,000) (3,088)
Net(decrease) increase in cash and cash equivalents 26,202 (9,844) 53,134
Cash and cash equivalents at beginning of year 108,372 118,216 65,082
Cash and cash equivalents at end of year $ 134,574 $ 108,372 $ 118,216
Supplemental disclosure of cash flow information      
Cash paid for interest
Cash paid for income taxes, net $ 82,690 $ 74,454 $ 69,354
Supplemental Disclosures of Non-Cash Items      
Non-cash (increases) decreases in the minimum pension liability 14,800 (41,700) 45,700
Non-cash acquisition of assets in business combinations $ 100 $ 24,200 $ 3,300