| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net earnings | ||||||
108,800 | 168,500 | 254,200 | 133,000 | 82,400 | -107,100 | |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
236,200 | 217,000 | 206,500 | 208,300 | 194,300 | 188,800 | |
Amortization of debt issuance costs, bond premium and original issue discount | ||||||
2,900 | 3,100 | 3,500 | 2,700 | 800 | -2,100 | |
Loss on extinguishment of debt, net | ||||||
0 | -5,800 | -12,600 | 0 | -4,800 | 0 | |
Deferred income taxes, net | ||||||
-3,700 | -7,500 | -78,400 | 3,200 | 11,800 | 100 | |
Equity in (earnings) losses of unconsolidated affiliates, net of tax | ||||||
-74,000 | 0 | 0 | - | - | - | |
Equity-based compensation | ||||||
50,800 | 50,900 | 18,900 | 12,400 | 11,400 | 6,400 | |
Changes in assets and liabilities, net of acquired assets and liabilities: | ||||||
Trade and other receivables, including receivables from related parties | ||||||
-7,400 | -44,500 | 52,500 | 6,400 | 20,900 | -200 | |
Prepaid expenses and other assets | ||||||
900 | 41,500 | -1,700 | 11,200 | 6,400 | 9,500 | |
Deferred contract costs | ||||||
40,900 | 44,800 | 48,500 | 51,900 | 54,900 | 42,500 | |
Deferred contract costs | ||||||
-15,600 | -6,400 | 35,600 | 26,200 | 32,600 | 27,800 | |
Trade accounts payable and other liabilities | ||||||
-40,700 | 45,900 | -2,500 | 9,400 | -7,700 | -42,700 | |
Net cash provided by operating activities | ||||||
378,300 | 435,500 | 351,100 | 325,700 | 248,200 | 19,400 | |
Cash flows from investing activities: | ||||||
Additions to property and equipment | ||||||
22,400 | 30,000 | 27,400 | 38,100 | 45,600 | 21,400 | |
Additions to computer software | ||||||
81,500 | 73,100 | 53,300 | 41,900 | 50,100 | 45,500 | |
Business acquisition, net of cash acquired | ||||||
52,800 | 43,400 | 0 | 150,200 | 0 | 0 | |
Investments in unconsolidated affiliate | ||||||
392,600 | 0 | 4,000 | - | 6,800 | 0 | |
Asset acquisition | ||||||
1,700 | -2,400 | 0 | 0 | 0 | - | |
Proceeds from sale of PCLender | ||||||
- | - | - | - | - | 1,500 | |
Net cash used in investing activities | ||||||
-551,000 | -144,100 | -84,700 | -230,200 | -102,500 | -65,400 | |
Cash flows from financing activities: | ||||||
Revolver borrowings | ||||||
876,000 | 676,900 | 180,000 | - | - | - | |
Revolver payments | ||||||
648,500 | 649,400 | 175,000 | - | - | - | |
Term loan borrowings | ||||||
0 | 258,600 | 300,000 | 55,000 | 1,299,000 | 88,000 | |
Term loan payments | ||||||
31,300 | 418,500 | 39,800 | 149,000 | 1,745,900 | 432,200 | |
Purchases of treasury stock | ||||||
11,900 | 141,500 | 136,700 | 0 | 0 | - | |
Senior Notes redemption | ||||||
0 | 0 | 390,000 | 0 | 0 | - | |
Senior Notes redemption fee | ||||||
0 | 0 | 18,800 | 0 | 0 | - | |
Distributions to members | ||||||
0 | 0 | 75,300 | 48,600 | 17,400 | 16,900 | |
Receipt from finalization of tax distribution | ||||||
0 | 1,800 | 0 | 0 | - | - | |
Net proceeds from sale of National Title Insurance of New York, Inc. to Fidelity National Financial, Inc. | ||||||
- | - | - | - | - | 50,200 | |
Finance lease payments | ||||||
0 | 0 | 13,800 | 5,000 | 0 | 0 | |
Tax withholding payments for restricted share vesting | ||||||
15,900 | 9,400 | 6,100 | 0 | 0 | - | |
Proceeds from issuance of Class A common stock, before offering expenses | ||||||
- | - | - | - | 479,300 | 0 | |
Costs directly associated with issuance of Class A common stock | ||||||
- | - | - | - | 4,200 | 0 | |
Debt issuance costs | ||||||
0 | 5,800 | 8,600 | 0 | 20,600 | 0 | |
Other financing activities | ||||||
-600 | 0 | 0 | - | - | - | |
Senior notes call premium | ||||||
- | - | - | - | 11,800 | 0 | |
Net cash provided by financing activities | ||||||
167,800 | -287,300 | -384,100 | -147,600 | -21,600 | 107,900 | |
Net increase (decrease) in cash and cash equivalents | ||||||
-4,900 | 4,100 | -117,700 | -52,100 | 124,100 | 61,900 | |
Supplemental cash flow information: | ||||||
Interest paid, net | ||||||
- | - | - | 60,200 | 89,200 | 131,800 | |
Income taxes (paid) refunded, net | ||||||
- | - | - | 21,900 | -200 | 30,700 | |