| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||||
Net income | ||||||||||
254,860 | 240,755 | 85,066 | 97,147 | 80,296 | 7,887 | 74,526 | 68,825 | 124,246 | 85,122 | -57,759 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation | ||||||||||
74,975 | 65,116 | 58,208 | 55,623 | 54,305 | 46,637 | 29,468 | 28,013 | 26,839 | 27,967 | 30,890 |
Amortization | ||||||||||
66,428 | 62,152 | 44,023 | 44,263 | 47,349 | 37,067 | 9,347 | 9,594 | 10,225 | 13,231 | 19,237 |
Share-based compensation expense | ||||||||||
19,629 | 17,112 | 15,306 | 13,436 | 11,033 | 8,887 | 7,928 | 9,881 | 7,519 | 7,588 | 8,102 |
Charge for fair value write-up of acquired inventory sold | ||||||||||
- | - | - | - | - | 48,586 | 0 | 0 | - | - | 4,553 |
Impairment of equity investments | ||||||||||
- | - | - | - | - | - | - | - | - | 2,164 | 1,000 |
Deferred tax valuation allowance | ||||||||||
- | - | - | - | - | - | - | - | 41,038 | 13,600 | 16,579 |
Provision for deferred income taxes | ||||||||||
-14,008 | -11,876 | 1,628 | -16,284 | -13,313 | -44,716 | 8,232 | 11,940 | 21,671 | 10,647 | -18,258 |
Charge for excess and obsolete inventory | ||||||||||
11,433 | 4,496 | 9,405 | 9,302 | 8,311 | 4,513 | 3,963 | 4,007 | 3,167 | 998 | 4,871 |
Excess tax benefit from share-based compensation plans | ||||||||||
- | - | - | - | 5,457 | 842 | 3,914 | 3,805 | 657 | 149 | - |
Amortization of debt issuance costs | ||||||||||
2,330 | 1,834 | 2,864 | 3,947 | 3,344 | 5,848 | 0 | 0 | 676 | 1,731 | 2,086 |
Loss on extinguishment of debt | ||||||||||
0 | -2,429 | -20,687 | 0 | 0 | - | - | - | - | - | - |
Net income attributable to noncontrolling interest | ||||||||||
- | - | - | - | - | - | - | - | 400 | 766 | 38 |
Other | ||||||||||
-9,788 | -9,948 | -16,026 | -9,744 | 20,299 | -2,209 | 765 | -1,701 | 2,245 | 1,302 | -2,189 |
Changes in operating assets and liabilities: | ||||||||||
Trade accounts and notes receivable | ||||||||||
3,164 | 17,473 | 15,401 | 25,298 | -5,212 | 4,845 | 13,363 | -10,626 | -19,336 | 26,789 | 19,203 |
Inventories | ||||||||||
21,354 | 38,100 | 20,214 | 19,871 | 26,670 | 11,608 | 441 | 6,118 | -3,632 | 14,285 | -10,679 |
Accounts payable and accrued liabilities | ||||||||||
-22,647 | 19,950 | 15,975 | 31,294 | -28,686 | 14,348 | -4,408 | 6,265 | -15,127 | 34,860 | -1,579 |
Other current assets | ||||||||||
-7,784 | 13,677 | 3,330 | -185 | -654 | 1,699 | 414 | 2,985 | -1,253 | 283 | -1,662 |
Income taxes payable and refundable income taxes | ||||||||||
-3,494 | -30,381 | 64,516 | 3,408 | 4,955 | 10,975 | 2,731 | -11,015 | -433 | 13,243 | 481 |
Other | ||||||||||
262 | -291 | 1,386 | -659 | 116 | -3,176 | 3,488 | 11,767 | 1,378 | -521 | 1,375 |
Net cash provided by (used in) operating activities | ||||||||||
382,298 | 312,576 | 293,373 | 207,555 | 120,918 | 126,423 | 109,402 | 115,162 | 157,286 | 140,898 | 4,193 |
Investing activities: | ||||||||||
Acquisition of property, plant and equipment | ||||||||||
112,355 | 110,153 | 93,597 | 65,260 | 71,977 | 57,733 | 60,360 | 49,929 | 30,267 | 16,794 | 13,162 |
Payments to Acquire Businesses, Net of Cash Acquired | ||||||||||
277,369 | 380,694 | 20,000 | 0 | 0 | 809,390 | 13,358 | 2,961 | 0 | - | - |
Purchase of short-term investments | ||||||||||
- | - | - | - | - | - | - | 27,990 | 2,047 | - | - |
Proceeds from sale or maturities of short-term investments | ||||||||||
- | - | - | 1,726 | 7,692 | 13,778 | 20,000 | 8,000 | 2,000 | - | - |
Proceeds from sale of assets held for sale | ||||||||||
- | - | - | - | - | 0 | 6,500 | 0 | 0 | - | - |
Payments for non-compete agreements | ||||||||||
- | - | - | - | - | 7,517 | 0 | 0 | - | - | - |
Other | ||||||||||
-3,884 | -4,903 | -1,142 | 3,152 | -647 | -567 | -189 | -413 | -1,883 | -4,809 | -3,319 |
Net cash used in investing activities | ||||||||||
-385,840 | -485,944 | -112,455 | -66,686 | -63,638 | -860,295 | -47,029 | -72,467 | -28,431 | -11,985 | -9,843 |
Financing activities: | ||||||||||
Proceeds from short-term borrowings and long-term debt | ||||||||||
0 | 402,000 | 550,000 | 0 | 0 | 855,200 | 0 | 0 | - | 186,649 | 704,675 |
Payments of long-term debt | ||||||||||
4,000 | 135,850 | 460,000 | 75,000 | 100,000 | 88,650 | 0 | 0 | - | - | - |
Payments for debt issuance costs | ||||||||||
0 | 7,400 | 7,333 | 0 | 0 | 20,747 | 0 | 0 | - | - | - |
Payments for debt extinguishment costs | ||||||||||
0 | 0 | 16,200 | 0 | 0 | - | - | - | - | - | - |
Payments of Dividends | ||||||||||
40,566 | 39,591 | 9,896 | 0 | 0 | - | - | - | - | - | - |
Principal payments on short-term borrowings and long-term debt | ||||||||||
- | - | - | - | - | - | - | - | - | 259,157 | 799,645 |
Proceeds from stock offering, net of offering costs | ||||||||||
- | - | - | - | - | - | - | - | - | - | 56,638 |
Issuance of common stock | ||||||||||
7,291 | 5,577 | 5,566 | 4,844 | 4,264 | 3,559 | 7,685 | 7,431 | 11,690 | 6,799 | 1,280 |
Repurchase of common stock | ||||||||||
80,321 | 173,781 | 28,000 | 7,573 | 0 | 0 | 15,494 | 427 | 0 | - | - |
Taxes paid related to net share settlement of equity awards | ||||||||||
8,722 | 14,686 | 5,887 | 4,018 | 2,508 | 2,479 | 0 | 0 | - | - | - |
Other | ||||||||||
-502 | -1,858 | -999 | 0 | 5,457 | 765 | 3,914 | 3,886 | -826 | - | -3,638 |
Net cash provided by (used in) financing activities | ||||||||||
-126,820 | 34,411 | 27,251 | -81,747 | -92,787 | 747,648 | -3,895 | 10,890 | 10,864 | -65,709 | -40,690 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
211 | -4,389 | 10,850 | -2,558 | -4,367 | -8,503 | -4,471 | 3,241 | -80 | 2,050 | 7 |
Decrease in cash and cash equivalents | ||||||||||
-130,151 | -143,346 | 219,019 | 56,564 | -39,874 | 5,273 | 54,007 | 56,826 | 139,639 | 65,254 | -46,333 |
Supplemental Cash Flow Information | ||||||||||
Equipment purchases in accounts payable | ||||||||||
11,285 | 17,624 | 8,608 | 5,104 | 3,757 | 3,702 | 6,950 | 3,429 | 1,372 | 517 | 405 |
Capital lease obligations incurred | ||||||||||
0 | 0 | 4,768 | 0 | 0 | - | - | - | - | - | - |
Schedule of interest and taxes paid | ||||||||||
Intangible assets received as partial consideration in sale of equity interest | ||||||||||
- | - | - | - | - | - | - | - | 1,712 | - | - |
Interest paid | ||||||||||
41,711 | 26,248 | 30,392 | 32,085 | 35,126 | 21,919 | 72 | 271 | 210 | 2,072 | 7,492 |
Income taxes paid, net of refunds received | ||||||||||
77,970 | 54,415 | 33,330 | 35,722 | 16,060 | 12,274 | 10,208 | 29,697 | 22,034 | 3,592 | -2,794 |