Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF STATEMENT OF CASH FLOWS (Unaudited)

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CONSOLIDATED STATEMENTS OF STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 92,643 $ 43,268
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,596 21,597
Deferred income tax (benefit)/provision (2,039) 2,999
Provision for expected credit losses 2,686 2,288
Stock based compensation expense 3,921 3,819
(Gains)/losses on sale of assets, net (32,260) (275)
Other, net (62) (340)
Changes in operating assets and liabilities 31,001 18,607
Net cash provided by operating activities 119,486 91,963
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (16,978) (47,586)
Purchases of equipment and property (7,826) (6,674)
Proceeds from sales of franchises 99 267
Proceeds from sales of assets 65,101 668
Other, net (253) 273
Net cash provided by/(used in) investing activities 40,143 (53,052)
FINANCING ACTIVITIES    
Payment of contingent consideration (4,926) (2,040)
Repayment of term loan (21,000) (3,200)
Repayment on revolving commitment (70,500) (32,500)
Borrowings on revolving commitment 3,500 64,000
Cash paid for common stock purchased (9,342) (8,031)
Dividends paid (39,389) (39,317)
Net cash (used in) financing activities (141,657) (21,088)
Effect of exchange rate changes on cash 873 (19,517)
Net increase/(decrease) in cash and cash equivalents 18,845 (1,694)
Cash and cash equivalents at beginning of period 98,477 94,276
Cash and cash equivalents at end of period 117,322 92,582
Supplemental disclosure of cash flow information:    
Non-cash additions to operating lease right-of-use assets $ 60,389 $ 27,894