| Dec'19 | Dec'18 | Dec'17 | Jan'17 | Jan'16 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||||||
Net income (loss) | ||||||||||
18,560 | -15,156 | 102,847 | 56,663 | 65,044 | 36,082 | 32,102 | 31,459 | 32,023 | 39,542 | 40,543 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||
Depreciation expense from property, plant and equipment and financing leases | ||||||||||
156,886 | 164,502 | 150,422 | 111,613 | 78,096 | 60,397 | 58,338 | 61,168 | 61,686 | 58,672 | 60,455 |
Amortization of intangible assets and deferred proceeds, net | ||||||||||
23,030 | 22,754 | 18,419 | 5,010 | 2,800 | - | - | - | - | - | - |
Fair value adjustment of acquisition related contingent consideration | ||||||||||
92,788 | 28,767 | 3,226 | -1,910 | 3,576 | 1,077 | 0 | 0 | - | - | - |
Impairment of property, plant and equipment | ||||||||||
8,798 | 453 | - | 382 | 148 | - | 0 | 275 | 0 | 3,665 | 353 |
Loss on sale of property, plant and equipment | ||||||||||
-6,498 | -7,103 | -4,492 | -2,892 | -1,268 | -677 | -46 | -633 | -547 | -1,195 | -1,271 |
Amortization of intangibles | ||||||||||
- | - | - | - | - | 733 | 333 | 416 | 432 | 489 | 560 |
Deferred income taxes | ||||||||||
3,987 | 9,366 | -58,111 | 42,942 | 10,408 | 4,220 | -10,017 | 7,138 | 7,888 | -4,906 | 7,633 |
Stock compensation expense | ||||||||||
2,000 | 5,600 | 7,922 | 7,154 | 7,300 | 3,542 | 2,919 | 2,623 | 2,342 | 2,223 | 2,161 |
Net gain on property, plant and equipment damaged in flood | ||||||||||
- | - | - | - | - | - | - | - | - | 892 | - |
Amortization of debt costs | ||||||||||
1,313 | 1,477 | 1,082 | 1,855 | 2,011 | 1,938 | 1,933 | 2,242 | 2,330 | 2,330 | 2,303 |
Gain on exchange transactions | ||||||||||
- | 10,170 | 12,893 | -692 | 8,807 | - | 0 | - | - | - | - |
Gain on sale of business | ||||||||||
- | - | - | - | 22,651 | - | 0 | - | - | - | - |
Bargain purchase gain, net of tax of $1,265 | ||||||||||
- | - | - | - | 2,011 | - | 0 | - | - | - | - |
Proceeds from bottling agreements conversion | ||||||||||
- | - | 91,450 | - | - | - | - | - | - | - | - |
Proceeds from Legacy Facilities Credit | ||||||||||
- | 1,320 | 30,647 | - | - | - | - | - | - | - | - |
System Transformation transactions settlements | ||||||||||
- | - | 6,996 | - | - | - | - | - | - | - | - |
Gain on acquisition of Southeastern Container preferred shares in CCR redistribution | ||||||||||
- | - | 6,012 | - | - | - | - | - | - | - | - |
Amortization of deferred gains related to terminated interest rate agreements | ||||||||||
- | - | - | - | - | - | 549 | -1,145 | -1,221 | -1,211 | -2,071 |
Loss on voluntary pension settlement | ||||||||||
- | - | - | - | - | - | -12,014 | 0 | 0 | - | - |
Insurance proceeds received for flood damage | ||||||||||
- | - | - | - | - | - | - | - | - | 5,682 | - |
Change in current assets less current liabilities | ||||||||||
31,681 | 26,387 | -259 | 39,909 | 18,262 | 16,331 | -843 | 288 | -5,529 | -1,920 | 27,412 |
Change in other noncurrent assets | ||||||||||
-15,201 | -4,347 | 17,916 | 14,564 | 4,292 | 3,195 | 3,170 | 5,087 | 4,563 | 1,726 | 13,700 |
Change in other noncurrent liabilities | ||||||||||
-7,203 | -25,122 | -1,100 | -10,850 | -6,214 | 3,333 | 1,569 | -16,261 | 2,652 | 2,788 | 7,409 |
Other | ||||||||||
148 | 19 | 78 | 25 | -124 | -570 | 13 | -1 | 5 | -15 | -2 |
Total adjustments | ||||||||||
271,810 | 184,035 | 204,969 | 105,332 | 43,246 | 55,821 | 64,272 | 51,713 | 77,627 | 70,214 | 38,960 |
Net cash provided by operating activities | ||||||||||
290,370 | 168,879 | 307,816 | 161,995 | 108,290 | 91,903 | 96,374 | 83,172 | 109,650 | 109,756 | 79,503 |
Cash Flows from Investing Activities: | ||||||||||
Additions to property, plant and equipment | ||||||||||
171,374 | 138,235 | 176,601 | 172,586 | 163,887 | 84,364 | 61,432 | 53,271 | 53,156 | 57,798 | 43,339 |
Other distribution agreements | ||||||||||
4,654 | - | 15,598 | - | - | - | - | - | - | - | - |
Investment in CONA Services LLC | ||||||||||
1,713 | 2,098 | 3,615 | 7,875 | - | - | - | - | - | - | - |
Proceeds from the sale of property, plant and equipment | ||||||||||
4,064 | 5,259 | 608 | 1,072 | 1,891 | 1,701 | 6,136 | 701 | 1,772 | 1,795 | 8,282 |
Net cash paid for exchange transactions | ||||||||||
- | 13,116 | 19,393 | - | 10,498 | - | - | - | - | - | - |
Proceeds from cold drink equipment | ||||||||||
- | 3,789 | 8,400 | - | - | - | - | - | - | - | - |
Insurance proceeds received for property, plant and equipment damaged in flood | ||||||||||
- | - | - | - | - | - | - | - | - | 1,418 | - |
Acquisition of distribution territories and manufacturing plants, net of cash acquired and purchase price settlements | ||||||||||
- | -456 | 265,060 | 272,637 | 71,209 | 41,588 | 0 | 0 | - | 32 | - |
Portion of Legacy Facilities Credit related to Mobile, Alabama facility | ||||||||||
- | - | 12,364 | - | - | - | - | - | - | - | - |
Proceeds from lines of credit | ||||||||||
- | - | - | - | - | - | - | 20,000 | 0 | 0 | - |
Net cash used in investing activities | ||||||||||
-173,677 | -143,945 | -458,895 | -452,026 | -217,343 | -124,251 | -55,296 | -49,570 | -50,884 | -53,617 | -39,557 |
Cash Flows from Financing Activities: | ||||||||||
Payments on revolving credit facility | ||||||||||
550,339 | 483,000 | 393,000 | 258,000 | 405,000 | 125,624 | 85,000 | 0 | 0 | 15,000 | -15,000 |
Borrowings under Term Loan Facility | ||||||||||
- | - | - | 300,000 | - | - | 0 | - | - | - | 108,160 |
Borrowings under revolving credit facility | ||||||||||
515,339 | 356,000 | 448,000 | 410,000 | 334,000 | 191,624 | 60,000 | 30,000 | 0 | - | - |
Payments on term loan facility | ||||||||||
140,000 | 7,500 | - | - | - | 20,000 | 0 | 0 | - | - | - |
Proceeds from the sale of BYB Brands, Inc. | ||||||||||
- | - | - | - | 26,360 | - | 0 | - | - | - | - |
Change in restricted cash | ||||||||||
- | - | - | - | - | - | - | -3,000 | -500 | -1,000 | 4,500 |
Proceeds from issuance of senior notes | ||||||||||
100,000 | 150,000 | 125,000 | - | 349,913 | - | - | - | - | - | - |
Payments on Senior Notes | ||||||||||
- | - | - | 164,757 | 100,000 | - | 0 | 150,000 | - | - | - |
Excess tax expense (benefit) from stock-based compensation | ||||||||||
- | - | - | - | - | -176 | 17 | 81 | 61 | 77 | -98 |
Payments of acquisition related contingent consideration | ||||||||||
27,182 | 24,683 | 16,738 | 13,550 | 4,039 | 212 | 0 | 0 | - | - | - |
Payment of debt | ||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | - |
Payment of current portion of long-term debt | ||||||||||
- | - | - | - | - | - | - | - | - | - | 176,693 |
Cash dividends paid | ||||||||||
9,400 | 9,400 | 9,328 | 9,307 | 9,287 | 9,266 | 9,245 | 9,224 | 9,203 | 9,180 | 9,162 |
Payments on financing or capital lease obligations | ||||||||||
8,656 | 8,221 | 7,485 | 7,063 | 6,555 | 5,939 | 5,307 | 4,682 | 3,839 | 3,846 | 3,263 |
Payments for the termination of interest rate lock agreements | ||||||||||
- | - | - | - | - | - | - | - | - | - | 340 |
Debt issuance fees | ||||||||||
420 | 1,531 | - | - | - | - | 0 | 0 | 716 | 0 | 1,042 |
Other | ||||||||||
- | - | -318 | -940 | -3,576 | -1,077 | -147 | -136 | -183 | -88 | -145 |
Net cash provided by financing activities | ||||||||||
-120,627 | -28,288 | 146,131 | 256,383 | 155,456 | 29,682 | -39,716 | -113,961 | -13,880 | -28,037 | -67,583 |
Net increase (decrease) in cash during period | ||||||||||
-3,934 | -3,354 | -4,948 | -33,648 | 46,403 | -2,666 | 1,362 | -80,359 | 44,886 | 28,102 | -27,637 |
Significant noncash investing and financing activities: | ||||||||||
Capital lease obligations incurred | ||||||||||
- | - | - | - | - | - | 714 | 209 | 18,632 | 0 | 660 |
Additions to property, plant and equipment accrued and recorded in accounts payable, trade | ||||||||||
- | - | - | - | - | 9,185 | 7,175 | 14,433 | 6,244 | - | - |
Class B Common Stock | ||||||||||
Issuance of Class B Common Stock in connection with stock award | ||||||||||
- | - | - | - | - | 1,763 | 1,298 | 1,421 | 1,327 | 1,316 | 1,130 |