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
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
Net Income $ 75,354 $ 66,626
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,026 20,822
Provision for deferred income taxes 1,889 509
Provision for bad debts 3,551 2,813
Stock based compensation expense 6,119 5,367
Excess tax benefits from share-based payments (1,681) (4,455)
Other, net (407) (899)
Changes in operating assets and liabilities (17,596) (772)
Net cash provided by operating activities 89,255 90,011
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (30,837) (59,660)
Purchases of equipment and property (17,730) (11,471)
Other 867 1,108
Net cash used in investing activities (47,700) (70,023)
FINANCING ACTIVITIES    
Cash paid for common stock purchased (7,407) (12,789)
Dividends paid (34,959) (30,612)
Excess tax benefits from share-based payments 1,681 4,455
Net cash used in financing activities (40,685) (38,946)
Effect of exchange rate changes on cash 442 2,261
Net increase/(decrease) in cash and cash equivalents 1,312 (16,697)
Cash and cash equivalents at beginning of period 108,372 118,216
Cash and cash equivalents at end of period $ 109,684 $ 101,519