| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
76,389 | 172,435 | 217,463 | 109,425 | 69,090 | 40,956 | 52,343 | 59,260 | 50,243 | 32,379 | 17,441 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
58,734 | 53,639 | 49,172 | 37,266 | 28,653 | 27,434 | 24,077 | 18,853 | 16,229 | 15,023 | 14,695 |
Amortization of operating lease right-of-use assets | ||||||||||
11,400 | - | - | - | - | - | - | - | - | - | - |
Amortization of deferred debt financing costs and bond discount/premium | ||||||||||
3,511 | 5,282 | 5,812 | 5,426 | 3,900 | 3,790 | 4,400 | 5,028 | 2,251 | 2,016 | 2,759 |
Deferred income taxes | ||||||||||
20,415 | -1,494 | -80,525 | 56,190 | 29,152 | 13,855 | 20,800 | 15,295 | 13,529 | 9,452 | 9,445 |
Impairment of intangible assets | ||||||||||
- | - | - | 5,405 | - | 34,154 | - | - | - | - | - |
Interest accretion on contingent consideration | ||||||||||
- | - | - | - | - | 432 | 208 | - | - | - | - |
Gain on change in fair value of contingent consideration | ||||||||||
- | - | - | - | - | 8,206 | - | - | - | - | - |
(Gain) loss on sale of assets | ||||||||||
- | 176,386 | -1,608 | - | - | 4,535 | - | - | - | - | - |
Write-off of property, plant, and equipment | ||||||||||
97 | 931 | 208 | 337 | 107 | - | - | - | - | - | - |
Loss on disposal of inventory | ||||||||||
- | - | 3,287 | 791 | - | - | - | - | - | - | - |
Loss on extinguishment of debt | ||||||||||
-1,177 | -13,135 | -1,163 | -2,836 | - | -5,748 | -31,291 | -10,431 | - | -15,224 | -10,220 |
Realized gain on interest rate swap | ||||||||||
- | - | - | - | - | - | - | - | 612 | - | - |
Unrealized loss on interest rate swap | ||||||||||
- | - | - | - | - | - | - | - | - | -436 | 1,541 |
Reclassification to net interest expense for interest rate swap | ||||||||||
- | - | - | - | - | - | - | - | -3,669 | -1,693 | -1,693 |
Share-based compensation expense | ||||||||||
2,594 | 3,025 | 4,615 | 5,798 | 5,817 | 2,235 | 3,935 | 3,777 | 4,098 | 3,747 | 4,599 |
Excess tax benefits from share-based compensation | ||||||||||
- | - | - | 343 | 539 | 2,356 | 4,192 | 8,031 | 1,047 | 326 | - |
Provision for doubtful accounts | ||||||||||
- | - | - | - | - | - | 257 | 142 | -36 | 127 | -59 |
Changes in assets and liabilities, net of effects of businesses acquired: | ||||||||||
Trade accounts receivable | ||||||||||
-13,918 | 12,933 | 18,034 | 45,763 | 16,927 | -6,638 | 13,703 | 1,106 | 4,995 | -1,174 | -2,149 |
Inventories | ||||||||||
57,436 | -88,037 | 139,512 | -2,396 | -33,243 | 7,672 | 3,662 | 3,065 | 602 | -18,548 | -2,765 |
Prepaid expenses and other current assets | ||||||||||
4,629 | 302 | -6,596 | -41,929 | 52,879 | 5,097 | 2,743 | -1,793 | 5,404 | -808 | 48 |
Income tax receivable/payable | ||||||||||
-38,686 | 45,973 | -9,829 | -3,658 | 13,622 | -4,652 | - | - | - | - | - |
Other assets | ||||||||||
-143 | -307 | 6,542 | 747 | 110 | 642 | 2,695 | 36 | 14 | 1,136 | 169 |
Income tax receivable | ||||||||||
- | - | - | - | - | - | -5,032 | -6,298 | 1,311 | -1,019 | -1,357 |
Trade accounts payable | ||||||||||
-26,879 | 14,773 | 16,623 | 47,250 | 7,763 | -8,373 | 9,231 | -874 | 8,896 | -7,118 | -4,712 |
Accrued expenses | ||||||||||
-10,735 | 1,449 | -17,344 | 23,832 | 8,459 | -4,122 | -8,444 | -4,728 | 1,135 | 7,164 | 2,303 |
Other liabilities | ||||||||||
-3,505 | 1,585 | 3,038 | 1,291 | -872 | 469 | -1,225 | -2,509 | -2,596 | -1,353 | -43 |
Interest rate swap | ||||||||||
- | - | - | - | - | - | - | - | -11,400 | - | - |
Net cash provided by operating activities | ||||||||||
46,504 | 209,456 | 37,799 | 289,661 | 128,479 | 99,126 | 114,910 | 100,528 | 72,033 | 98,877 | 62,854 |
Cash flows from investing activities: | ||||||||||
Capital expenditures | ||||||||||
42,355 | 41,627 | 59,802 | 42,418 | 18,574 | 19,025 | 14,649 | 10,637 | 10,556 | 10,965 | 10,704 |
Proceeds from sale of assets | ||||||||||
46 | 420,002 | 2,229 | - | - | - | - | - | - | - | - |
Payments for acquisition of businesses, net of cash acquired | ||||||||||
82,430 | 30,787 | 162,965 | 438,787 | 873,811 | 154,277 | 247,281 | 62,667 | 326,000 | 14,602 | - |
Net cash used in investing activities | ||||||||||
-124,739 | 347,588 | -220,538 | -481,205 | -892,385 | -173,302 | -261,930 | -73,304 | -336,556 | -25,567 | -10,704 |
Cash flows from financing activities: | ||||||||||
Repayments of long-term debt | ||||||||||
700,000 | 650,110 | 233,640 | 150,000 | 18,750 | 138,750 | 505,154 | 116,772 | 130,000 | 320,259 | 102,035 |
Proceeds from issuance of long-term debt | ||||||||||
1,000,000 | - | 914,000 | - | 746,250 | 299,250 | 700,000 | 30,000 | 372,000 | 347,448 | - |
Repayments of borrowings under revolving credit facility | ||||||||||
645,000 | 170,000 | 571,000 | 99,000 | 164,000 | 258,500 | 90,000 | 5,000 | 25,000 | - | - |
Borrowings under revolving credit facility | ||||||||||
595,000 | 220,000 | 395,000 | 235,000 | 170,000 | 252,500 | 105,000 | - | 25,000 | - | - |
Proceeds from issuance of common stock, net | ||||||||||
- | 60 | 112 | 331,879 | 126,230 | - | - | 120,355 | - | - | 86,600 |
Dividends paid | ||||||||||
123,669 | 124,524 | 123,631 | 100,807 | 76,528 | 72,369 | 62,824 | 50,161 | 38,238 | 32,343 | 26,437 |
Excess tax benefits from share-based compensation | ||||||||||
- | - | - | 343 | 539 | 2,356 | 4,192 | 8,031 | 1,047 | 326 | - |
Payments for repurchase of common stock, net | ||||||||||
34,713 | 26,920 | - | - | - | - | - | - | 3,652 | - | 2,334 |
Payments of tax withholding on behalf of employees for net share settlement of share-based compensation | ||||||||||
905 | 1,833 | 1,962 | 1,410 | 1,750 | 4,374 | 6,812 | 10,697 | 2,236 | 1,460 | - |
Payments of debt financing costs | ||||||||||
13,000 | - | 19,543 | - | 14,547 | 8,494 | 12,574 | 500 | 16,346 | 8,246 | 671 |
Net cash provided by (used in) financing activities | ||||||||||
77,713 | -753,327 | 359,336 | 216,005 | 767,444 | 71,619 | 131,828 | -24,744 | 182,575 | -14,534 | -44,877 |
Effect of exchange rate fluctuations on cash and cash equivalents | ||||||||||
189 | 1,425 | 1,076 | -874 | 218 | -60 | 80 | 1 | -52 | 32 | 98 |
Net increase (decrease) in cash and cash equivalents | ||||||||||
-333 | -194,858 | 177,673 | 23,587 | 3,756 | -2,617 | -15,112 | 2,481 | -82,000 | 58,808 | 7,371 |
Supplemental disclosures of cash flow information: | ||||||||||
Cash interest payments | ||||||||||
87,982 | 102,114 | 75,784 | 69,755 | 47,231 | 42,642 | 43,942 | 53,892 | 31,380 | 30,302 | -49,227 |
Cash income tax payments | ||||||||||
47,506 | 4,669 | 17,231 | 15,406 | 9,398 | 13,624 | 2,722 | 10,061 | 14,342 | 6,371 | 1,615 |
Non-cash investing and financing transactions: | ||||||||||
Accruals related to purchases of property, plant and equipment | ||||||||||
3,251 | 5,520 | 330 | - | 1,660 | - | - | - | - | - | - |
Right-of-use assets obtained in exchange for new operating lease liabilities | ||||||||||
903 | - | - | - | - | - | - | - | - | - | - |
Cash income tax refunds | ||||||||||
- | - | - | - | - | - | - | - | - | - | -1,180 |