Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net income $ 114,067 $ 93,959
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,282 27,317
Provision for deferred income taxes 4,508 7,674
Provision for bad debts 4,190 2,564
Stock - based compensation expense 6,370 6,375
Other, net (1,535) (265)
Changes in operating assets and liabilities (30,373) (17,716)
Net cash provided by operating activities 130,509 119,908
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (54,619) (6,165)
Purchases of equipment and property (14,246) (11,222)
Proceeds from sales of franchises 228 245
Other 425 295
Net cash used in investing activities (68,212) (16,847)
FINANCING ACTIVITIES    
Cash paid for common stock purchased (9,338) (7,689)
Dividends paid (61,142) (50,117)
Net cash used in financing activities (70,480) (57,806)
Effect of exchange rate changes on cash (10,982) 6,797
Net increase/(decrease) in cash and cash equivalents (19,165) 52,052
Cash and cash equivalents at beginning of period 107,050 142,785
Cash and cash equivalents at end of period $ 87,885 $ 194,837