| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Net income | ||||||
78,700 | -61,100 | 2,000 | -92,800 | -104,700 | ||
Loss from discontinued operations | ||||||
- | -25,800 | -6,000 | 12,500 | 3,700 | ||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||
Deferred income tax expense (benefit) | ||||||
-69,400 | -16,100 | -61,200 | -8,300 | -10,700 | ||
Depreciation and amortization | ||||||
57,100 | 56,600 | 53,800 | 53,200 | 52,200 | ||
Asset impairment | ||||||
- | - | - | 10,400 | 23,000 | ||
Amortization of debt issuance costs and debt discount | ||||||
1,200 | 2,100 | 3,700 | 3,500 | 3,200 | ||
Loss on debt extinguishment | ||||||
- | -25,700 | - | - | - | ||
Net periodic pension and postretirement cost | ||||||
5,200 | 2,700 | 1,500 | 3,000 | 8,900 | ||
Provision for doubtful accounts | ||||||
3,200 | 700 | 200 | - | - | ||
Non-cash share-based compensation | ||||||
36,500 | 23,200 | 16,100 | 12,500 | 12,800 | ||
Environmental reserve | ||||||
- | - | - | 5,900 | - | ||
Other | ||||||
400 | 400 | 700 | -1,200 | -400 | ||
Changes in operating assets and liabilities excluding effects of acquisitions and divestitures: | ||||||
Trade and other receivables | ||||||
16,400 | 3,600 | -5,700 | 5,800 | 8,500 | ||
Prepaid expenses and other current assets | ||||||
8,000 | -600 | 6,300 | -1,100 | 5,600 | ||
Accounts payable and other accrued expenses | ||||||
3,800 | -6,400 | 100 | -4,400 | -4,500 | ||
Deferred revenue | ||||||
800 | 7,000 | 4,500 | -1,800 | -1,800 | ||
Employee compensation and benefits | ||||||
-11,100 | -22,100 | -26,100 | -49,100 | -25,800 | ||
Accrued interest | ||||||
- | -15,700 | -4,800 | -200 | 1,300 | ||
Accrued taxes | ||||||
-11,100 | 8,400 | -6,700 | 14,700 | 4,500 | ||
Other assets and liabilities | ||||||
19,500 | 16,700 | 17,200 | 3,800 | 3,900 | ||
Net cash provided by (used in) operating activities—continuing operations | ||||||
50,600 | 10,700 | -29,400 | -73,200 | -62,900 | ||
Net cash used in operating activities—discontinued operations | ||||||
- | -1,200 | -10,400 | -2,300 | 44,600 | ||
Net cash provided by (used in) operating activities | ||||||
50,600 | 9,500 | -39,800 | -75,500 | -18,300 | ||
Cash Flows from Investing Activities | ||||||
Purchase of customer trust funds marketable securities | ||||||
408,400 | 855,200 | 598,500 | 699,700 | 610,600 | ||
Proceeds from sale and maturity of customer trust funds marketable securities | ||||||
374,500 | 844,300 | 610,200 | 677,600 | 557,000 | ||
Net change in restricted cash and other restricted assets held to satisfy customer trust funds obligations | ||||||
- | - | - | -677,800 | -405,300 | ||
Expenditures for property, plant, and equipment | ||||||
16,300 | 8,000 | 17,500 | 7,400 | 8,800 | ||
Expenditures for software and technology | ||||||
38,900 | 32,200 | 33,100 | 25,500 | 25,300 | ||
Acquisition costs, net of cash acquired | ||||||
30,200 | - | - | - | - | ||
Net proceeds from divestitures | ||||||
- | - | -500 | 101,600 | - | ||
Net cash used in investing activities—continuing operations | ||||||
-119,300 | -51,100 | -39,400 | 724,400 | 317,600 | ||
Net cash used in investing activities—discontinued operations | ||||||
- | - | -200 | 38,600 | 6,300 | ||
Net cash provided by (used in) investing activities | ||||||
-119,300 | -51,100 | -39,600 | 763,000 | 323,900 | ||
Cash Flows from Financing Activities | ||||||
Increase in customer trust funds obligations, net | ||||||
529,900 | -1,415,100 | 356,100 | -655,700 | -351,700 | ||
Proceeds from issuance of common stock under share-based compensation plans | ||||||
87,000 | 45,800 | - | - | - | ||
Net proceeds from issuance of stock | ||||||
- | 595,000 | 78,400 | 75,000 | - | ||
Repayment of long-term debt obligations | ||||||
7,200 | 1,134,000 | 25,900 | 11,800 | 7,000 | ||
Repurchase of stock | ||||||
- | - | 1,800 | - | - | ||
Proceeds from debt issuance | ||||||
- | 680,000 | - | - | - | ||
Payment of debt refinancing costs | ||||||
- | 23,300 | - | - | - | ||
Net cash (used in) provided by financing activities—continuing operations | ||||||
- | - | - | -592,500 | -358,700 | ||
Net cash used in financing activities—discontinued operations | ||||||
- | - | - | -38,200 | -9,500 | ||
Net cash provided by financing activities | ||||||
609,700 | -1,251,600 | 406,800 | -630,700 | -368,200 | ||
Effect of exchange rate changes on cash, restricted cash, and equivalents | ||||||
11,300 | -12,800 | 11,000 | 1,300 | -10,400 | ||
Net increase in cash, restricted cash, and equivalents | ||||||
552,300 | -1,306,000 | 338,400 | 58,100 | -73,000 | ||
Elimination of cash from discontinued operations | ||||||
- | 500 | 5,200 | -500 | 100 | ||
Reconciliation of cash, restricted cash, and equivalents to the condensed consolidated balance sheets | ||||||
Reconciliation of cash, restricted cash, and equivalents to the consolidated balance sheets | ||||||
Supplemental Cash Flow Information: | ||||||
Cash paid for interest | ||||||
37,400 | 74,500 | 89,700 | 84,900 | 83,900 | ||
Cash paid for income taxes | ||||||
36,200 | 21,100 | 21,300 | 14,800 | 15,700 | ||
Cash received from income tax refunds | ||||||
300 | 4,400 | 1,900 | 200 | 200 | ||