| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | |||||||||||
Net income | |||||||||||
219,923 | 205,544 | 98,177 | 108,743 | 110,274 | 99,317 | 77,227 | 89,304 | 85,979 | 81,831 | 73,784 | 67,281 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
45,205 | 38,863 | 35,625 | 34,638 | 33,499 | 30,601 | 29,342 | 30,521 | 29,499 | 29,043 | 27,902 | 27,505 |
Stock option expense | |||||||||||
14,831 | 12,611 | 10,485 | 8,330 | 5,445 | 4,802 | 6,042 | 8,130 | 8,376 | 7,762 | 8,639 | 7,303 |
Provision/(benefit) for deferred income taxes | |||||||||||
-2,770 | 5,187 | 2,407 | -6,707 | 6,325 | 6,978 | -6,988 | -3,151 | 7,242 | -2,409 | 4,979 | -2,772 |
Noncash long-term incentive compensation | |||||||||||
5,740 | 5,405 | 3,774 | 1,301 | 6,644 | 2,569 | 1,301 | 360 | 2,595 | 4,161 | 4,385 | 0 |
Amortization of restricted stock awards | |||||||||||
- | 446 | 1,231 | 1,855 | 2,107 | 2,471 | 3,046 | - | - | - | - | - |
Provision for bad debts | |||||||||||
- | - | 17,306 | 16,319 | 14,247 | 13,173 | 10,907 | 9,111 | 8,563 | 9,078 | 10,833 | 9,820 |
Noncash directors' compensation | |||||||||||
767 | 766 | 766 | 541 | 540 | 480 | 480 | - | - | - | - | - |
Loss on sale of transportation equipment (Note 19) | |||||||||||
2,266 | - | 5,266 | - | - | - | - | - | - | - | - | - |
Amortization of debt issuance costs | |||||||||||
306 | 441 | 516 | 519 | 523 | 826 | 1,751 | 1,265 | 1,137 | 654 | 632 | 618 |
Litigation settlement | |||||||||||
6,000 | - | - | - | - | - | - | - | - | - | - | - |
Noncash early retirement expense (Note 20) | |||||||||||
- | - | - | 1,747 | - | - | - | - | - | - | - | - |
Amortization of discount on convertible notes | |||||||||||
- | - | - | - | - | 3,392 | 8,674 | 8,106 | 7,576 | 7,081 | 6,617 | 6,560 |
Changes in operating assets and liabilities: | |||||||||||
Discontinued operations (Note 9) | |||||||||||
- | - | - | - | - | - | - | - | - | - | 253 | 1,088 |
Noncash gain on early extinguishment of debt (Note 3) | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 3,406 |
Loss on impairment of equipment (Note 7) | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 2,699 |
Decrease/(increase) in accounts receivable | |||||||||||
19,247 | 5,570 | -1,072 | 42,142 | -4,132 | 45,785 | 9,009 | 24,421 | -26,896 | 68,656 | -33,754 | 6,659 |
Decrease/(increase) in inventories | |||||||||||
1,757 | 351 | -421 | -559 | 142 | -535 | -355 | -1,610 | 940 | 151 | -29 | 898 |
Decrease in prepaid expenses | |||||||||||
3,491 | 2,665 | 2,987 | 253 | 1,290 | -6,362 | 6,317 | 38 | 1,124 | -332 | 455 | -305 |
(Decrease)/increase in accounts payable and other current liabilities | |||||||||||
28,417 | 8,935 | 12,890 | 891 | 476 | -26,304 | 39,860 | 4,954 | -1,397 | 13,810 | -8,109 | 5,585 |
Change in current income taxes | |||||||||||
161 | 18,898 | -26,104 | 13,886 | 344 | 11,279 | -2,461 | 6,020 | 2,708 | 4,825 | 623 | -776 |
Net change in lease assets and liabilities | |||||||||||
-3,108 | - | - | - | - | - | - | - | - | - | - | - |
Decrease/(increase) in other assets | |||||||||||
11,963 | 5,544 | 8,330 | 5,224 | 47 | 4,769 | 6,507 | 5,203 | 4,009 | 4,398 | 1,678 | -5,480 |
(Decrease)/increase in other liabilities | |||||||||||
12,354 | 3,451 | 8,561 | 7,105 | 1,320 | 8,484 | 6,713 | 8,329 | 4,548 | 5,999 | 272 | -6,423 |
Excess tax benefit on stock-based compensation | |||||||||||
- | - | - | 7,195 | 14,042 | 5,172 | 3,982 | 3,435 | 3,854 | 3,357 | 1,955 | 2,422 |
Other sources | |||||||||||
1,399 | 721 | 1,419 | 480 | 1,145 | 1,040 | -413 | -306 | -548 | -407 | -327 | 1,195 |
Net cash provided by operating activities | |||||||||||
301,249 | 287,138 | 162,495 | 135,393 | 171,500 | 110,279 | 150,847 | 131,768 | 174,343 | 86,012 | 160,832 | 112,083 |
Cash Flows from Investing Activities | |||||||||||
Capital expenditures | |||||||||||
53,022 | 52,872 | 64,300 | 39,772 | 44,135 | 43,571 | 29,324 | 35,252 | 29,592 | 25,639 | 21,496 | 26,094 |
Business combinations | |||||||||||
138,010 | 53,177 | 4,725 | - | 6,614 | 250 | 2,257 | 5,900 | 3,664 | 9,469 | 1,919 | 11,200 |
Proceeds from sales of property and equipment | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 387 |
Net Proceeds/(uses) of discontinued operations (Note 9) | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 8,824 |
Other uses | |||||||||||
-272 | -824 | -1,417 | 90 | -432 | -294 | -235 | -468 | 858 | 592 | -573 | 544 |
Net cash used by investing activities | |||||||||||
-190,760 | -105,225 | -67,608 | -39,862 | -50,317 | -43,527 | -31,346 | -40,684 | -34,114 | -35,700 | -22,842 | -28,627 |
Cash Flows from Financing Activities | |||||||||||
Proceeds from revolving line of credit | |||||||||||
482,900 | 469,550 | 212,350 | 127,050 | 103,200 | 386,350 | - | - | - | - | - | - |
Payments on revolving line of credit | |||||||||||
482,100 | 406,550 | 211,150 | 102,050 | 153,200 | 336,350 | - | - | - | - | - | - |
Payment on long-term debt | |||||||||||
- | - | - | - | - | - | - | - | - | - | 14,669 | 18,713 |
Purchases of treasury stock | |||||||||||
92,631 | 158,884 | 94,640 | 102,313 | 59,323 | 110,019 | 92,911 | 60,624 | 143,970 | 109,330 | - | - |
Change in cash overdrafts payable | |||||||||||
-3,927 | -1,531 | 6,700 | -736 | -1,177 | 9,714 | -11,415 | 1,924 | -826 | -581 | 2,891 | -856 |
Proceeds from exercise of stock options | |||||||||||
34,380 | 32,412 | 27,092 | 8,421 | 15,424 | 23,910 | 17,122 | 12,310 | 8,036 | 5,327 | 545 | 291 |
Capital stock surrendered to pay taxes on stock-based compensation | |||||||||||
28,474 | 27,548 | 14,223 | 8,772 | 15,734 | 7,524 | 5,348 | 4,098 | 3,916 | - | 4,225 | 69,788 |
Dividends paid | |||||||||||
19,788 | 18,662 | 17,371 | 16,439 | 15,605 | 14,255 | 14,148 | 13,026 | 12,538 | 11,881 | 8,157 | 5,543 |
Payments on other long-term debt | |||||||||||
- | 75,000 | 8,750 | 7,500 | 6,250 | 189,456 | - | - | - | - | - | - |
Proceeds from other long-term debt | |||||||||||
- | - | - | - | - | 100,000 | - | - | - | - | - | - |
Retirement of warrants | |||||||||||
- | - | - | - | - | 2,648 | - | - | - | - | - | - |
Debt issuance costs | |||||||||||
- | 1,052 | - | - | - | 914 | 1,108 | - | 2,657 | - | - | - |
Excess tax benefit on stock-based compensation | |||||||||||
- | - | - | 7,195 | 14,042 | 5,172 | 3,982 | 3,435 | 3,854 | 3,357 | 1,955 | 2,422 |
Net change in revolving line of credit | |||||||||||
- | - | - | - | - | - | - | - | - | - | -8,200 | 8,200 |
Other (uses)/sources | |||||||||||
478 | -938 | 916 | 196 | -1,965 | -1,018 | -788 | 445 | -48 | 297 | 658 | -829 |
Net cash used by financing activities | |||||||||||
-109,162 | -188,203 | -99,076 | -94,948 | -120,588 | -137,038 | -104,614 | -59,634 | -152,065 | -112,811 | -29,202 | -84,816 |
Increase in Cash and Cash Equivalents | |||||||||||
1,327 | -6,290 | -4,189 | 583 | 595 | -70,286 | 14,887 | 31,450 | -11,836 | -62,499 | 108,788 | -1,360 |