| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||
Net loss | |||||||||||
15,060 | 41,225 | 42,609 | 14,470 | -11,322 | 122,645 | 95,702 | 75,565 | 96,825 | 64,881 | 39,566 | 30,097 |
Adjustments to reconcile net income (loss) to cash used in operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
146,166 | 90,297 | 86,412 | 84,325 | 78,456 | 62,005 | 55,307 | 48,977 | 40,837 | 38,913 | 36,020 | 29,767 |
Bad debt expense | |||||||||||
4,007 | 542 | 3,000 | 1,191 | 3,302 | 1,183 | 1,187 | 1,129 | 187 | -8,716 | 4,973 | 8,710 |
Equity in earnings of affiliates, net of dividends | |||||||||||
-7,671 | 23,167 | 10,494 | -14,766 | 677 | -28,749 | 50,953 | -8,134 | 23,591 | 17,594 | 15,105 | -19,307 |
Loss (gain) on sales of assets | |||||||||||
7,063 | 5,218 | 14,401 | 667 | 20,802 | -2,079 | -633 | 234 | - | - | - | - |
Gains on sale of facilities and investments in affiliates | |||||||||||
- | - | - | - | - | 17,055 | 0 | 0 | - | - | - | - |
Gains on sales of Rail Group assets and related leases | |||||||||||
4,122 | 9,558 | 10,990 | 11,019 | 13,281 | 15,830 | 19,366 | 23,665 | 8,417 | 7,771 | 1,758 | 4,040 |
Gain from pension plan curtailment | |||||||||||
- | - | - | - | - | - | - | - | - | - | 4,132 | - |
Stock-based compensation expense | |||||||||||
16,229 | 6,624 | 6,097 | 6,987 | 1,899 | 8,581 | 4,339 | 3,990 | 4,071 | 2,589 | 2,747 | 4,050 |
Excess tax benefit from share-based payment arrangement | |||||||||||
- | - | - | - | - | 1,806 | 1,001 | 162 | 307 | 876 | 566 | 2,620 |
Deferred income tax | |||||||||||
5,114 | 11,018 | -63,234 | 6,030 | 27,279 | 21,815 | 40,374 | 16,503 | 5,473 | 12,205 | 16,430 | 4,124 |
Pension settlement charge, net of cash contributed | |||||||||||
- | - | - | - | 48,344 | 0 | 0 | - | - | - | - | - |
Goodwill impairment | |||||||||||
0 | 0 | 59,081 | 0 | 56,166 | 0 | 0 | - | - | - | - | - |
Inventory write down | |||||||||||
- | - | - | - | - | - | - | - | 3,142 | 0 | 2,944 | 97,268 |
Asset impairment | |||||||||||
41,212 | 6,272 | 10,913 | 9,107 | 285 | 3,090 | 4,439 | 531 | 1,704 | 1,682 | 304 | - |
Gain from remeasurement of equity method investments, net | |||||||||||
35,214 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Other | |||||||||||
-3,540 | 1,451 | 55 | 2,070 | 1,439 | 296 | 135 | 176 | -254 | -215 | 186 | 58 |
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | |||||||||||
-1,487 | 24,788 | -9,781 | 26,429 | -45,058 | 1,703 | -35,446 | 21,737 | 15,708 | 848 | 15,259 | 23,460 |
Inventories | |||||||||||
1,578 | 44,060 | -16,141 | -28,165 | -73,350 | 172,040 | -162,443 | -122,428 | 114,427 | 214,171 | -32,227 | -3,074 |
Commodity derivatives | |||||||||||
-21,714 | 16,610 | -20,285 | 9,990 | -14,098 | 27,652 | -69,633 | -2,947 | -134,309 | 158,183 | -2,211 | -102,818 |
Other assets | |||||||||||
-30,497 | -3,290 | 74,237 | -19,407 | 26,315 | 11,407 | 4,926 | 12,927 | 1,104 | 3,970 | -61,938 | 56,939 |
Accounts payable for grain | |||||||||||
- | - | - | - | - | - | - | 101,265 | 117,309 | 20,703 | 18,089 | 72,648 |
Payables and other accrued expenses | |||||||||||
103,842 | -69,935 | -5,623 | -94,688 | -120,267 | -12,429 | -55,934 | 5,914 | 49,708 | 31,656 | -574 | -6,198 |
Net cash used in operating activities | |||||||||||
348,562 | -35,519 | 75,285 | 39,585 | 154,134 | -10,071 | 337,188 | 328,482 | 290,265 | -239,285 | 180,241 | 278,664 |
Investing Activities | |||||||||||
Acquisition of business, net of cash acquired | |||||||||||
102,580 | 2,248 | 3,507 | 0 | 128,549 | 20,037 | 15,252 | 220,257 | 2,365 | 39,293 | 30,480 | 18,920 |
Purchases of Rail Group assets | |||||||||||
105,254 | 167,005 | 143,020 | 85,268 | 115,032 | 90,067 | 92,584 | 111,224 | 64,161 | 18,354 | 24,965 | 97,989 |
Proceeds from sale of Rail Group assets | |||||||||||
18,090 | 79,439 | 36,896 | 56,689 | 76,625 | 32,099 | 97,232 | 90,827 | 30,398 | 20,102 | 8,453 | 68,456 |
Purchases of property, plant and equipment and capitalized software | |||||||||||
165,223 | 142,579 | 34,602 | 77,740 | 72,469 | 59,675 | 46,786 | 69,274 | 44,162 | 30,897 | 16,560 | 20,315 |
Proceeds from sale of assets | |||||||||||
30,617 | 47,486 | 33,879 | 69,904 | 284 | 1,401 | 390 | 1,116 | 931 | 1,942 | 540 | 180 |
Purchase of investments | |||||||||||
0 | 0 | -1,069 | -9,186 | -1,620 | -46,800 | - | -19,998 | 0 | 0 | - | - |
Other | |||||||||||
-808 | 0 | -1,470 | -1,534 | 21 | - | - | 19,996 | 0 | 0 | - | - |
Other | |||||||||||
- | - | - | - | - | 21 | 10 | -18,253 | 6,517 | 9,010 | -803 | 201 |
Net cash used in investing activities | |||||||||||
-325,032 | -185,993 | -113,494 | -28,218 | -238,480 | -89,738 | -106,261 | -290,557 | -85,997 | -89,005 | -63,409 | -107,961 |
Financing Activities | |||||||||||
Net change in short-term borrowings | |||||||||||
-278,824 | 183,000 | -8,059 | 14,000 | 15,000 | 0 | -24,219 | -47,281 | -169,600 | 241,100 | - | -245,500 |
Proceeds from issuance of long-term debt | |||||||||||
922,594 | 132,000 | 85,175 | 81,760 | 181,767 | 3,405 | 68,003 | 275,346 | 73,752 | 18,986 | 9,523 | 220,827 |
Payments of long-term debt | |||||||||||
608,483 | 121,090 | 57,189 | 97,606 | 92,474 | 69,697 | 94,752 | 143,943 | 104,008 | 36,598 | 52,349 | 82,090 |
Proceeds from long-term financing agreements | |||||||||||
0 | 0 | 12,195 | 14,027 | 0 | 0 | - | - | - | - | - | - |
Proceeds from noncontrolling interest owner | |||||||||||
4,714 | 46,736 | -377 | -5,853 | -3,206 | -14,920 | 0 | 6,100 | - | - | - | - |
Contributions by noncontrolling interest owner | |||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | - | 2,278 |
Proceeds from sale of investments | |||||||||||
- | - | - | - | - | 0 | 0 | 0 | - | - | - | - |
Proceeds from sale of facilities and investments | |||||||||||
- | - | - | - | - | 0 | - | - | - | - | - | - |
Investment in convertible preferred securities | |||||||||||
- | - | - | - | - | - | - | - | - | 13,100 | - | - |
Purchase of investments | |||||||||||
1,490 | 1,086 | 5,679 | 2,523 | 938 | 238 | 49,251 | 0 | 121 | 395 | 1,200 | 41,450 |
Proceeds from sale of treasury shares to employees and directors | |||||||||||
- | - | - | - | - | 1,509 | 1,939 | 1,322 | 815 | 1,305 | 750 | 1,914 |
Payments of debt issuance costs | |||||||||||
6,561 | 1,446 | 2,024 | 323 | 296 | 3,175 | 46 | 637 | 3,170 | 7,508 | 4,500 | 2,283 |
Payments to acquire noncontrolling interest | |||||||||||
0 | 10,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Purchases of treasury stock | |||||||||||
- | - | - | - | 49,089 | 0 | 0 | - | 3,040 | 0 | 229 | 924 |
Dividends paid | |||||||||||
22,118 | 18,639 | 18,152 | 17,362 | 15,921 | 12,485 | 11,986 | 11,166 | 8,153 | 6,581 | 6,346 | 5,885 |
Excess tax benefit from share-based payment arrangement | |||||||||||
- | - | - | - | - | 1,806 | 1,001 | 162 | 307 | 876 | 566 | 2,620 |
Other | |||||||||||
-2,615 | -1,375 | -1,071 | -1,130 | -2,389 | -1,015 | 0 | 0 | - | - | - | - |
Net cash provided by financing activities | |||||||||||
8,707 | 209,186 | 10,498 | -12,487 | 33,392 | -94,572 | -60,060 | 79,903 | -213,097 | 211,580 | -52,585 | -111,321 |
Effect of exchange rates on cash, cash equivalents and restricted cash | |||||||||||
65 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Increase (decrease) in cash, cash equivalents and restricted cash | |||||||||||
32,302 | -12,326 | -27,711 | -1,120 | -50,954 | -194,381 | 170,867 | 117,828 | -8,829 | -116,710 | 64,247 | 59,382 |
Supplemental disclosure of cash flow information | |||||||||||
Capital project costs incurred but not yet paid | |||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | - | - |
Purchase of capitalized software through seller-financing | |||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | - | - |
Outstanding payment for acquisition of business | |||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | - | - |