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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES    
Net income $ 285,350 $ 198,205
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,519 65,926
Provision for deferred income taxes 2,221 3,701
Provision for expected credit losses 8,522 12,820
(Gain) loss on sale of assets, net (33,598) 629
Stock - based compensation expense 11,762 18,151
Other, net (83) 1,423
Changes in operating assets and liabilities 45,782 (39,752)
Net cash provided by operating activities 298,911 340,607
INVESTING ACTIVITIES    
Cash used for acquisitions of companies, net of cash acquired (39,692) (79,880)
Purchases of equipment and property (20,031) (17,690)
Proceeds from sales of assets 70,967 2,131
Proceeds from sales of franchises 134 430
Other, net (274) 478
Net cash provided by/(used in) investing activities 11,104 (94,531)
FINANCING ACTIVITIES    
Payment of contingent consideration (19,413) (24,168)
Borrowings under revolving commitment 82,500 68,000
Repayments of term loan (83,000) (20,000)
Repayments of revolving commitment (134,500) (169,500)
Payment of dividends (119,677) (91,745)
Cash paid for common stock purchased (10,598) (8,085)
Net cash used in financing activities (284,688) (245,498)
Effect of exchange rate changes on cash (6,149) 586
Net increase in cash and cash equivalents 19,178 1,164
Cash and cash equivalents at beginning of period 98,477 94,276
Cash and cash equivalents at end of period 117,655 95,440
Supplemental disclosure of cash flow information:    
Non-cash additions to operating lease right-of-use assets $ 101,720 $ 67,877

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