| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||
Net income | |||||||||
604,000 | 639,000 | 504,000 | 215,000 | 182,000 | 228,600 | 165,400 | 514,200 | 103,000 | 29,600 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Premiums and expenses on tender offer for long-term debt | |||||||||
- | - | - | - | - | - | - | - | 56,900 | - |
Deferred income taxes | |||||||||
65,000 | 52,000 | -50,000 | 114,000 | 96,000 | 131,800 | 98,000 | -303,800 | 39,800 | 51,500 |
Depreciation of property, plant and equipment | |||||||||
81,000 | 77,000 | 80,000 | 84,000 | 88,000 | 93,800 | 98,700 | 102,500 | 103,800 | 99,600 |
Amortization of intangible assets | |||||||||
86,000 | 87,000 | 90,000 | 92,000 | 97,000 | 98,800 | 105,300 | 150,000 | 151,900 | 154,200 |
Stock-based compensation | |||||||||
13,000 | 13,000 | 12,000 | 9,000 | 10,000 | 14,700 | 13,700 | 6,400 | 8,000 | 8,500 |
Amortization of deferred financing costs | |||||||||
5,000 | 6,000 | 6,000 | 7,000 | 8,000 | 8,100 | 10,900 | 14,500 | 12,100 | 11,600 |
Expenses related to long-term debt refinancing | |||||||||
5,000 | 0 | 0 | -11,000 | -26,000 | - | - | - | - | - |
Loss associated with impairment of long-lived assets | |||||||||
2,000 | 4,000 | 32,000 | 0 | 1,000 | 15,400 | - | - | - | - |
Impairment loss on investments in technology-related initiatives | |||||||||
0 | 3,000 | 16,000 | 1,000 | - | 2,000 | 5,000 | 14,400 | - | - |
Unrealized gain on derivatives | |||||||||
0 | 0 | 29,000 | 1,000 | -15,000 | 4,700 | 32,800 | 26,200 | -13,900 | -28,800 |
Premiums and expenses on tender offer and redemption of long-term debt | |||||||||
- | - | - | - | - | - | - | -22,100 | -16,000 | 3,300 |
Excess tax benefit from stock-based compensation | |||||||||
- | - | - | 6,000 | 8,000 | 24,600 | 13,700 | 5,300 | - | - |
Trade name impairment | |||||||||
- | - | - | - | 80,000 | - | - | - | - | - |
Loss on repayments of long-term debt | |||||||||
- | - | - | - | - | 500 | 800 | - | - | - |
Other | |||||||||
-1,000 | -4,000 | 0 | -1,000 | -1,000 | -5,200 | -2,100 | -2,100 | 1,400 | -2,100 |
Changes in assets and liabilities: | |||||||||
Accounts receivable | |||||||||
-37,000 | 61,000 | 19,000 | 3,000 | -9,000 | 35,800 | 9,900 | -29,900 | 25,000 | -23,700 |
Inventories | |||||||||
11,000 | 18,000 | 25,000 | -15,000 | 2,000 | -12,700 | 4,400 | 1,800 | 11,000 | 11,800 |
Accounts payable | |||||||||
-25,000 | 9,000 | 30,000 | 2,000 | -25,000 | 2,100 | 17,600 | -29,400 | 24,900 | 3,200 |
Other assets and liabilities | |||||||||
16,000 | -22,000 | -11,000 | -50,000 | -2,000 | -24,700 | -6,800 | -7,900 | 23,700 | 8,800 |
Net cash provided by operating activities | |||||||||
847,000 | 837,000 | 658,000 | 591,000 | 580,000 | 573,300 | 463,500 | 497,500 | 469,200 | 388,900 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||
Acquisitions | |||||||||
232,000 | 0 | 0 | - | - | - | - | - | - | - |
Additions of long-lived assets | |||||||||
172,000 | 100,000 | 91,000 | 71,000 | 58,000 | 64,100 | 74,400 | 123,900 | 96,900 | 73,800 |
Investments in technology-related initiatives | |||||||||
1,000 | 3,000 | 3,000 | 1,000 | 2,000 | 5,800 | 8,800 | 14,400 | - | - |
Proceeds from disposal of assets | |||||||||
- | - | - | - | - | 300 | 500 | 600 | 2,400 | 300 |
Collateral for interest rate derivatives | |||||||||
- | - | - | - | - | -1,700 | -1,200 | 1,000 | -38,600 | 21,800 |
Net cash used for investing activities | |||||||||
-405,000 | -103,000 | -94,000 | -72,000 | -60,000 | -67,900 | -81,500 | -138,700 | -55,900 | -95,300 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
Borrowings on revolving credit facility | |||||||||
90,000 | 0 | 415,000 | 0 | - | - | - | - | - | - |
Payments on revolving credit facility | |||||||||
90,000 | 0 | 415,000 | 0 | - | - | - | - | - | - |
Repurchases of common stock | |||||||||
393,000 | 609,000 | 885,000 | 256,000 | 306,000 | 249,800 | 99,500 | - | - | - |
Dividend payments | |||||||||
73,000 | 80,000 | 89,000 | 100,000 | 106,000 | 91,600 | 77,100 | 32,800 | - | - |
Payments on long-term debt | |||||||||
1,151,000 | 28,000 | 12,000 | 1,215,000 | 117,000 | 157,600 | 142,400 | 245,400 | 90,500 | 106,000 |
Debt issuance costs | |||||||||
- | - | - | - | - | - | - | - | 15,000 | - |
Taxes paid related to net share settlement of equity awards | |||||||||
4,000 | 4,000 | 1,000 | 2,000 | 2,000 | 8,400 | 3,600 | - | - | - |
Proceeds from exercise of stock options | |||||||||
5,000 | 22,000 | 19,000 | 24,000 | 23,000 | 59,600 | 46,300 | 29,000 | - | - |
Issuance of long-term debt | |||||||||
1,148,000 | 0 | 400,000 | 1,000,000 | 470,000 | - | - | - | 500,000 | - |
Debt financing fees | |||||||||
12,000 | 1,000 | 6,000 | 21,000 | 9,000 | 900 | 14,900 | 20,200 | - | - |
Excess tax benefit from stock-based compensation | |||||||||
- | - | - | 6,000 | 8,000 | 24,600 | 13,700 | 5,300 | - | - |
Repurchases and redemption of long-term debt | |||||||||
- | - | - | - | 490,000 | - | - | 326,900 | 764,400 | 91,900 |
Payments on notes payable | |||||||||
- | - | - | - | - | - | - | 2,500 | - | - |
Net cash used for financing activities | |||||||||
-480,000 | -700,000 | -574,000 | -564,000 | -529,000 | -424,100 | -277,500 | -593,500 | -369,900 | -197,900 |
Effect of exchange rate changes on cash | |||||||||
-1,000 | -2,000 | 4,000 | -2,000 | -2,000 | -3,000 | 0 | 900 | 18,400 | 3,400 |
Net (decrease) increase in cash and cash equivalents | |||||||||
-39,000 | 32,000 | -6,000 | -47,000 | -11,000 | 78,300 | 104,500 | -233,800 | 61,800 | 99,100 |
Supplemental disclosures: | |||||||||
Interest paid | |||||||||
125,000 | 115,000 | 124,000 | 78,000 | 97,000 | 140,000 | 159,200 | 167,300 | 208,600 | 239,100 |
Income taxes paid | |||||||||
89,000 | 101,000 | 96,000 | 13,000 | 5,000 | 5,000 | 3,800 | 10,700 | 5,800 | 2,200 |