| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Operating activities: | ||||||
Net earnings | ||||||
105,000 | 136,300 | 66,900 | ||||
Adjustments to net earnings for items not affecting cash: | ||||||
Depreciation and amortization | ||||||
76,500 | 75,600 | 68,300 | ||||
Equity-settled stock-based compensation (note 13) | ||||||
30,100 | 33,000 | 37,600 | ||||
Other charges (note 16) | ||||||
5,700 | 21,200 | 16,300 | ||||
Finance costs, net of refund interest income | ||||||
10,100 | -4,300 | 6,300 | ||||
Income tax expense | ||||||
27,400 | 24,700 | 42,200 | ||||
Other | ||||||
-1,600 | -1,100 | -17,500 | ||||
Changes in non-cash working capital items: | ||||||
Accounts receivable | ||||||
25,700 | -104,600 | 12,500 | ||||
Inventories | ||||||
-171,200 | -89,500 | -75,600 | ||||
Other current assets | ||||||
-2,000 | -5,300 | 38,200 | ||||
Accounts payable, accrued and other current liabilities and provisions | ||||||
52,100 | 75,400 | 28,800 | ||||
Increase (decrease) in working capital | ||||||
95,400 | 124,000 | -3,900 | ||||
Net income tax refund (paid), including related refund interest income | ||||||
30,800 | -11,900 | 27,700 | ||||
Net cash provided by operating activities | ||||||
127,000 | 173,300 | 196,300 | ||||
Investing activities: | ||||||
Acquisitions (note 3) | ||||||
0 | 14,900 | 0 | ||||
Purchase of computer software and property, plant and equipment | ||||||
102,600 | 64,100 | 62,800 | ||||
Proceeds from sale of assets | ||||||
800 | 1,000 | 2,800 | ||||
Deposit on anticipated sale of real property (note 8) | ||||||
0 | 0 | 11,200 | ||||
Advances to solar supplier (note 4) | ||||||
0 | 0 | 29,500 | ||||
Repayments from solar supplier (note 4) | ||||||
12,500 | 14,000 | 3,000 | ||||
Net cash used in investing activities | ||||||
-89,300 | -64,000 | -75,300 | ||||
Financing activities: | ||||||
Borrowings under credit facility (note 12) | ||||||
0 | 40,000 | 275,000 | ||||
Repayments under credit facility (note 12) | ||||||
40,000 | 75,000 | 12,500 | ||||
Finance lease payments (note 12) | ||||||
6,500 | 4,500 | 0 | ||||
Issuance of capital stock (note 13) | ||||||
13,600 | 4,100 | 3,900 | ||||
Repurchase of capital stock for cancellation (note 13) | ||||||
19,900 | 34,300 | 370,400 | ||||
Purchase of treasury stock for stock-based plans (note 13) | ||||||
16,700 | 18,200 | 28,900 | ||||
Finance costs paid | ||||||
10,200 | 9,500 | 7,800 | ||||
Net cash used in financing activities | ||||||
-79,700 | -97,400 | -140,700 | ||||
Net increase (decrease) in cash and cash equivalents | ||||||
-42,000 | 11,900 | -19,700 | ||||