| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
57,700 | 45,500 | 33,500 | 54,200 | 51,500 | 42,700 | 41,600 | 33,900 | 26,200 | 17,700 | 47,300 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
LIFO and inventory provisions | ||||||||||
27,700 | 25,900 | 21,300 | 13,200 | 2,000 | 16,000 | 8,700 | 12,100 | 18,200 | 16,500 | 7,100 |
Amortization of debt issuance costs | ||||||||||
800 | 800 | 800 | 500 | 300 | 300 | 400 | 400 | 500 | 500 | 500 |
Stock-based compensation expense | ||||||||||
9,600 | 8,200 | 5,000 | 6,100 | 8,700 | 6,100 | 4,600 | 5,800 | 5,500 | 4,800 | 5,100 |
Credit loss expense, net | ||||||||||
7,100 | 3,600 | 1,100 | 2,000 | 1,300 | 2,200 | 1,100 | 2,000 | 2,000 | 1,400 | 1,800 |
Loss on disposals | ||||||||||
0 | -600 | 400 | 0 | 0 | - | - | - | - | -700 | 0 |
Depreciation and amortization | ||||||||||
60,900 | 59,500 | 54,400 | 42,900 | 37,900 | 32,000 | 27,200 | 25,300 | 22,400 | 19,700 | 18,700 |
Foreign currency losses, net | ||||||||||
-800 | 1,800 | 1,800 | 500 | -1,800 | -100 | -800 | -200 | -500 | 500 | 2,200 |
Pension termination settlement | ||||||||||
0 | 0 | -17,200 | -1,300 | -1,600 | 0 | 900 | 0 | 0 | - | - |
Deferred income taxes | ||||||||||
-4,700 | -100 | 2,000 | 8,400 | 8,900 | -3,000 | 5,000 | 900 | -2,000 | 5,200 | 14,500 |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable, net | ||||||||||
5,200 | -29,000 | 32,700 | 59,200 | 28,100 | 13,800 | 9,600 | -7,100 | 20,000 | -2,500 | 13,800 |
Other receivables, net | ||||||||||
6,200 | -4,300 | -8,000 | 37,000 | 8,900 | 3,000 | 5,600 | 10,600 | -1,900 | 3,500 | 4,300 |
Inventories, net | ||||||||||
5,000 | 34,400 | 70,500 | 180,400 | -1,500 | 50,600 | 35,400 | -5,300 | 78,000 | 18,800 | 36,700 |
Deposits, prepayments and other non-current assets | ||||||||||
42,900 | -23,600 | 16,900 | 22,800 | 25,900 | -5,700 | 16,500 | -5,000 | 12,400 | -2,300 | 16,700 |
Accounts payable | ||||||||||
-8,600 | 31,000 | 50,200 | -11,000 | 4,000 | 20,600 | 16,000 | 600 | 30,000 | -6,400 | -4,400 |
Cigarette and tobacco taxes payable | ||||||||||
-20,000 | -2,300 | 40,700 | 65,500 | 13,800 | 9,100 | 19,900 | -10,300 | 7,500 | 32,100 | 22,800 |
Claims, accrued and other long-term liabilities | ||||||||||
17,700 | 17,800 | -18,300 | 18,800 | 9,000 | 4,900 | 3,900 | -5,400 | 9,000 | 600 | -6,600 |
Excess tax deductions associated with stock-based compensation | ||||||||||
- | - | - | - | 2,200 | 2,800 | 2,100 | 1,100 | - | - | - |
Income taxes payable | ||||||||||
- | - | - | - | - | - | - | - | - | 100 | 0 |
Net cash provided by operating activities | ||||||||||
89,700 | 211,200 | 93,600 | -98,000 | 77,200 | 66,500 | 59,100 | 71,200 | 11,300 | 74,900 | 33,100 |
Cash flows from investing activities: | ||||||||||
Acquisition of business, net of cash acquired | ||||||||||
2,500 | 2,500 | 169,000 | 88,400 | 9,000 | 1,000 | 3,600 | 34,000 | 50,800 | 35,900 | 0 |
Change in restricted cash | ||||||||||
- | - | - | - | - | 900 | 2,000 | -2,000 | 100 | -200 | -700 |
Additions to property and equipment, net | ||||||||||
22,800 | 20,100 | 48,200 | 54,300 | 30,300 | 53,900 | 18,000 | 28,400 | 24,000 | 13,900 | 21,100 |
Capitalization of software and related development costs | ||||||||||
6,000 | 2,000 | 4,400 | 7,700 | 8,700 | 5,300 | 400 | 200 | 200 | 1,000 | 300 |
Proceeds from sale of property and equipment, net | ||||||||||
300 | 200 | 0 | 0 | 300 | 0 | 0 | - | - | 100 | 100 |
Net cash used in investing activities | ||||||||||
-31,000 | -24,400 | -221,600 | -150,400 | -47,700 | -61,100 | -24,000 | -60,600 | -75,100 | -50,500 | -20,600 |
Cash flows from financing activities: | ||||||||||
Borrowings under revolving credit facility | ||||||||||
1,692,600 | 1,769,900 | 1,708,600 | 1,638,700 | 936,200 | 488,300 | -27,300 | 11,300 | 62,000 | -19,200 | - |
Repayments under revolving credit facility | ||||||||||
1,687,800 | 1,938,100 | 1,556,400 | 1,349,700 | 945,100 | 478,700 | - | - | - | - | 10,700 |
Payments of financing costs | ||||||||||
0 | 0 | 1,800 | 2,000 | 400 | 0 | - | - | 700 | 1,800 | 0 |
Payments of finance leases | ||||||||||
5,600 | 3,000 | 2,100 | 2,400 | 2,300 | 1,700 | 1,000 | 0 | 0 | - | - |
Dividends paid | ||||||||||
20,700 | 18,900 | 17,200 | 15,500 | 12,800 | 10,700 | 7,100 | 10,300 | 1,900 | 0 | 0 |
Repurchases of common stock | ||||||||||
22,000 | 15,500 | 4,400 | 8,900 | 9,200 | 8,000 | 7,200 | 5,200 | 19,000 | 0 | 2,200 |
Proceeds from exercise of common stock options | ||||||||||
- | - | - | 300 | 400 | 2,100 | 2,400 | 3,800 | 5,400 | 8,300 | 2,200 |
Tax withholdings related to net share settlements of restricted stock units | ||||||||||
2,200 | 1,700 | 3,700 | 5,400 | 3,300 | 1,700 | 3,600 | 2,000 | 1,700 | 1,700 | 500 |
Excess tax deductions associated with stock-based compensation | ||||||||||
- | - | - | 2,900 | 2,200 | 2,800 | 2,100 | 1,100 | 1,700 | 2,000 | 400 |
Increase (Decrease) in book overdrafts | ||||||||||
-25,500 | 4,100 | 7,400 | 8,700 | 100 | 6,200 | -1,800 | -4,800 | 17,100 | -12,900 | 1,600 |
Net cash used in financing activities | ||||||||||
-71,200 | -203,200 | 130,400 | 266,700 | -34,200 | -1,400 | -43,500 | -6,100 | 62,900 | -25,300 | -9,200 |
Effects of changes in foreign exchange rates | ||||||||||
-700 | 2,100 | -2,500 | 2,400 | -1,700 | -600 | 300 | -600 | 0 | -700 | -1,300 |
Change in cash and cash equivalents | ||||||||||
-13,200 | -14,300 | -100 | 20,700 | -6,400 | 3,400 | -8,100 | 3,900 | -900 | -1,600 | 2,000 |
Supplemental disclosures: | ||||||||||
Cash (paid) received during the period for: | ||||||||||
Income taxes, net | ||||||||||
-18,700 | 10,100 | -16,700 | -20,900 | 26,800 | 22,000 | 19,500 | 11,700 | 11,800 | 10,600 | 11,700 |
Interest | ||||||||||
12,000 | 13,000 | 9,200 | 3,700 | 1,300 | 1,100 | 1,500 | 1,600 | 2,000 | 1,700 | 1,000 |
Non-cash capital lease obligations incurred | ||||||||||
- | - | - | 100 | 5,400 | 4,700 | 1,200 | 11,400 | 400 | 200 | - |
Non-cash indemnification holdback | ||||||||||
0 | 0 | 5,000 | 0 | 0 | - | - | 4,000 | 0 | 0 | - |
Unpaid property and equipment purchases included in accrued liabilities | ||||||||||
0 | 100 | 1,600 | 2,900 | 5,100 | 1,400 | 1,900 | 0 | 0 | - | - |
Non-cash transactions between other non-current assets and other long-term liabilities | ||||||||||
4,700 | 0 | 0 | - | - | - | - | - | - | - | - |
Contingent consideration related to acquisition of business | ||||||||||
- | - | - | - | - | - | - | 600 | 0 | 1,000 | 0 |