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
Cash flows from operating activities attributable to continuing operations:      
Net income $ 169,239 $ 172,984 $ 178,449
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:      
Depreciation and amortization 43,418 43,934 40,589
Stock-based compensation expense 18,408 15,606 14,043
Amortization of debt issuance costs 1,700 1,107 1,130
Deferred income taxes (10,710) (2,045) 6,370
Bad debt expense 34,012 23,986 22,773
Excess tax benefits from stock-based awards (13,011) (8,397) (10,360)
Asset impairment 6,660 0 3,040
Other 231 48 (2,460)
Changes in current assets and liabilities:      
Accounts receivable (22,804) (76,654) (38,211)
Inventories (29,319) (71,386) 3,617
Prepaid expenses and other assets (3,101) 2,243 (6,318)
Accounts payable, accrued expenses and other current liabilities 8,805 37,285 19,245
Net cash provided by operating activities 203,528 138,711 231,907
Cash flows from investing activities attributable to continuing operations:      
Capital expenditures (60,692) (47,316) (51,952)
Advance payment of capital expenditure 0 0 (9,100)
Other (1,428) (320) 0
Net cash used in investing activities attributable to continuing operations (62,120) (47,636) (61,052)
Cash flows from financing activities attributable to continuing operations:      
Borrowing under term loan 500,000 0 0
Repayments of long-term debt (228,125) (12,500) (9,375)
Borrowings under revolving credit facility 280,000 0 0
Repayments of revolving credit facility (140,000) 0 0
Payments of debt issuance costs (6,624) 0 0
Repurchase of common stock (58,510) (55,467) (146,894)
Cash dividends paid (597,864) (57,824) (42,281)
Proceeds from issuance of common stock 17,387 2,599 8,396
Tax withholdings related to stock-based awards (16,742) (12,707) (14,395)
Excess tax benefits from stock-based awards 13,011 8,397 10,360
Payment of contingent consideration obligation 0 0 (2,172)
Net cash used in financing activities attributable to continuing operations (237,467) (127,502) (196,361)
Total cash used in continuing operations (96,059) (36,427) (25,506)
Cash flows from discontinued operations:      
Total cash used in discontinued operations 0 (21) (153)
Net decrease in cash and cash equivalents (96,059) (36,448) (25,659)
Cash and cash equivalents at beginning of period 159,985 196,433 222,092
Cash and cash equivalents at end of period $ 63,926 $ 159,985 $ 196,433