Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 32,785 $ (19,493)
Reconciling items:    
Depreciation 71,713 67,482
Amortization 124,752 122,897
Deferred income tax benefit (7,943) (2,708)
Amortization of debt issuance costs, discounts and premium, net 6,332 5,199
Non-cash compensation expense 16,101 17,144
Other, net 10,889 1,845
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Increase in accounts receivable (282,075) (171,670)
Increase in prepaid expenses and other assets (407,601) (407,450)
Increase in accounts payable, accrued expenses and other liabilities 377,770 186,888
Increase in deferred revenue 860,916 710,841
Net cash provided by operating activities 803,639 510,975
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments made in nonconsolidated affiliates (18,209) (13,508)
Purchases of property, plant and equipment (128,607) (78,880)
Cash paid for acquisitions, net of cash acquired (16,619) (122,318)
Other, net (8,505) (4,704)
Net cash used in investing activities (171,940) (219,410)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt, net of debt issuance costs 55,549 4,821
Payments on long-term debt (74,207) (18,640)
Distributions to noncontrolling interests (18,523) (22,211)
Purchases and sales of noncontrolling interests, net (8,106) (16,559)
Proceeds from exercise of stock options 32,629 743
Payments for deferred and contingent consideration (14,149) (3,732)
Other, net 2,642 (13,516)
Net cash used in financing activities (24,165) (69,094)
Effect of exchange rate changes on cash and cash equivalents 82,687 (13,497)
Net increase in cash and cash equivalents 690,221 208,974
Cash and cash equivalents at beginning of period 1,526,591 1,303,125
Cash and cash equivalents at end of period $ 2,216,812 $ 1,512,099