Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
OPERATING ACTIVITIES    
Net Income $ 25,766 $ 23,179
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,214 9,894
Provision for deferred income taxes 1,542 1,247
Provision for bad debts 1,301 (94)
Stock based compensation expense 2,765 2,546
Excess tax benefits from share-based payments (3,386) (2,680)
Other, net (590) (29)
Changes in operating assets and liabilities 3,570 4,723
Net cash provided by operating activities 41,182 38,786
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (53,575) (929)
Purchases of equipment and property (5,156) (4,739)
Cash from sales of franchises 90   
Other 446 56
Net cash used in investing activities (58,195) (5,612)
FINANCING ACTIVITIES    
Cash paid for common stock purchased (6,640) (4,478)
Dividends paid (15,301) (13,146)
Proceeds received upon exercise of stock options    6
Excess tax benefits from share-based payments 3,386 2,680
Net cash used in financing activities (18,555) (14,938)
Effect of exchange rate changes on cash 481 (839)
Net increase/(decrease) in cash and cash equivalents (35,087) 17,397
Cash and cash equivalents at beginning of period 118,216 65,082
Cash and cash equivalents at end of period $ 83,129 $ 82,479