| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||
Net earnings (loss) | ||||||
37,600 | 73,600 | 9,700 | 59,100 | 104,300 | 57,400 | |
Adjustments to reconcile net earnings (loss) to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
49,600 | 45,800 | 44,500 | 43,300 | 41,700 | 40,700 | |
Provision for expected losses on accounts receivable | ||||||
3,200 | 4,900 | 3,900 | 3,100 | 500 | 1,400 | |
Impairment charges | ||||||
3,000 | 0 | 0 | - | - | 1,700 | |
Share-based compensation | ||||||
8,900 | 9,200 | 6,800 | 2,500 | 1,600 | 2,100 | |
Gain on debt extinguishment | ||||||
-4,100 | 0 | 0 | - | - | - | |
Deferred income taxes | ||||||
2,500 | 10,500 | 12,400 | -5,900 | 10,200 | -12,900 | |
Changes in uncertain tax positions | ||||||
- | - | - | -900 | 300 | -300 | |
Net pension plan income | ||||||
1,800 | -3,200 | -3,300 | -1,000 | 0 | 0 | |
Gain on equity investments | ||||||
13,600 | 13,600 | 0 | 0 | - | - | |
Net gain on sale of building | ||||||
19,200 | 0 | 0 | - | - | - | |
Net loss (gain) on disposition of Language Solutions business | ||||||
-4,000 | 53,800 | 0 | 0 | - | - | |
Amortization of right-of-use assets | ||||||
22,100 | 0 | 0 | - | - | - | |
Other | ||||||
3,100 | 2,300 | 2,800 | -1,000 | -200 | -700 | |
Gain on investments and other assets - net | ||||||
- | - | - | -100 | 0 | 9,000 | |
Loss on pension settlement | ||||||
- | - | - | - | - | -95,700 | |
Changes in operating assets and liabilities - net of acquisitions: | ||||||
Accounts receivable, net | ||||||
-8,700 | 25,300 | -18,000 | 43,100 | 10,200 | -3,900 | |
Inventories | ||||||
-1,000 | 1,600 | -800 | 1,900 | -200 | -900 | |
Prepaid expenses and other current assets | ||||||
-2,600 | -1,200 | 3,500 | 7,400 | -900 | 1,100 | |
Accounts payable | ||||||
-13,600 | 10,700 | -18,300 | 42,300 | 5,100 | -6,000 | |
Income taxes payable and receivable | ||||||
-13,000 | 9,200 | 5,400 | -3,600 | -700 | 1,500 | |
Accrued liabilities and other | ||||||
-13,500 | -1,700 | 14,400 | 17,700 | -33,200 | -51,400 | |
Lease liabilities | ||||||
23,800 | 0 | 0 | - | - | - | |
Pension and other postretirement benefits plan contributions | ||||||
1,000 | 1,900 | 2,200 | 1,100 | 0 | - | |
Net cash used in operating activities | ||||||
54,500 | 66,300 | 91,400 | 106,000 | 120,900 | 125,300 | |
Capital expenditures | ||||||
44,800 | 37,100 | 27,800 | 26,200 | 27,100 | 28,800 | |
Proceeds from sale of building | ||||||
30,600 | 0 | 0 | - | - | - | |
Acquisition of business, net of cash acquired | ||||||
4,500 | 12,500 | 0 | 0 | - | 6,000 | |
(Purchase) sale of investment | ||||||
2,300 | 0 | 3,400 | 3,500 | 10,000 | 0 | |
Proceeds from disposition | ||||||
- | - | - | 0 | - | - | |
Proceeds from sales of other assets | ||||||
- | - | - | - | - | 5,300 | |
Proceeds from sale of investment | ||||||
12,800 | 3,100 | 0 | - | - | - | |
(Payments for) proceeds from disposition of Language Solutions business | ||||||
4,000 | -77,500 | 0 | - | - | - | |
Other investing activities | ||||||
0 | 800 | -200 | -400 | 0 | 0 | |
Net cash used in investing activities | ||||||
-12,200 | 30,200 | -31,000 | -29,300 | -37,100 | -29,500 | |
FINANCING ACTIVITIES | ||||||
Revolving facility borrowings | ||||||
515,500 | 360,000 | 298,500 | 0 | 0 | - | |
Payments on revolving facility borrowings | ||||||
515,500 | 360,000 | 298,500 | 0 | 0 | - | |
Payments on long-term debt | ||||||
72,500 | 97,500 | 133,000 | 50,000 | 0 | 0 | |
Proceeds from the issuance of common stock | ||||||
0 | 1,200 | 18,800 | 0 | 0 | - | |
Treasury share repurchases | ||||||
1,800 | 1,500 | 900 | 0 | 0 | - | |
Debt issuance costs | ||||||
200 | 1,200 | 2,100 | 9,300 | 0 | 0 | |
Separation-related payment from R.R. Donnelley | ||||||
0 | 0 | 68,000 | 0 | 0 | - | |
Proceeds from issuance of long-term debt | ||||||
0 | 0 | 3,100 | 348,200 | 0 | 0 | |
Payments on note payable with an R.R. Donnelley affiliate | ||||||
- | - | - | - | -14,800 | -14,700 | |
Net transfers to Parent and affiliates | ||||||
- | - | - | 340,100 | 56,000 | 62,900 | |
Net change in short-term debt | ||||||
- | - | - | -8,800 | -24,000 | -12,800 | |
Other financing activities | ||||||
0 | 0 | 400 | 0 | 0 | - | |
Net cash provided by financing activities | ||||||
-74,500 | -99,000 | -45,700 | -60,000 | -94,800 | -90,400 | |
Effect of exchange rate on cash and cash equivalents | ||||||
2,100 | -2,200 | 1,100 | 4,400 | -2,500 | 2,000 | |
Net decrease in cash and cash equivalents | ||||||
-30,100 | -4,700 | 15,800 | 21,100 | -13,500 | 7,400 | |
Supplemental cash flow information | ||||||
Income taxes paid (net of refunds) | ||||||
25,000 | 10,100 | 30,500 | - | - | - | |
Interest paid | ||||||
31,900 | 34,600 | 40,000 | - | - | - | |
Debt exchange with R.R. Donnelley, including $5.5 million of debt issuance costs | ||||||
- | - | - | 300,000 | 0 | 0 | |
Settlement of intercompany note payable | ||||||
- | - | - | 29,600 | 0 | 0 | |
Accrued debt issuance costs | ||||||
- | - | - | 1,500 | 0 | 0 | |