| 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 | ||||||||||
252,308 | 241,220 | 159,557 | 97,178 | 77,747 | 174,613 | 174,539 | 93,223 | 324,643 | 56,913 | 43,055 |
Adjustment to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation | ||||||||||
32,265 | 25,296 | 23,127 | 21,465 | 16,742 | 13,706 | 10,955 | 8,293 | 8,103 | 7,632 | 7,715 |
Amortization of intangible assets | ||||||||||
28,644 | 22,112 | 28,861 | 32,953 | 23,591 | 21,024 | 25,819 | 45,867 | 48,020 | 51,808 | 51,960 |
Amortization of original issue discount and deferred financing costs | ||||||||||
4,712 | 4,749 | 3,516 | 3,940 | 5,429 | 6,615 | - | - | - | - | - |
Amortization of original issue discount | ||||||||||
- | - | - | - | - | - | 2,074 | 1,598 | 0 | 0 | - |
Amortization of deferred financing costs | ||||||||||
- | - | - | - | - | - | 2,698 | 2,161 | 1,986 | 2,439 | 3,417 |
Amortization of unrealized loss on interest rate swaps | ||||||||||
- | - | - | - | - | - | 2,381 | 2,082 | 0 | 0 | -24,222 |
Tradename and goodwill impairment | ||||||||||
- | - | - | - | 40,687 | 0 | 0 | - | 9,389 | 0 | 0 |
Write-off of deferred financing costs related to debt extinguishment | ||||||||||
- | - | - | - | - | - | - | - | - | - | 0 |
Loss on extinguishment of debt | ||||||||||
-926 | -1,332 | 0 | -574 | -4,795 | -2,084 | -15,336 | -14,308 | -377 | -4,809 | 14,745 |
Loss on pension settlement | ||||||||||
10,920 | 0 | 0 | - | - | - | - | - | - | - | - |
Loss on change in contractual interest rate | ||||||||||
- | - | - | -2,957 | -2,381 | 16,014 | 0 | - | - | - | - |
Gain on remeasurement of contingent consideration | ||||||||||
- | - | - | - | - | -4,877 | 0 | - | - | - | - |
Provision for losses on accounts receivable | ||||||||||
- | - | - | - | - | - | 1,037 | 204 | -7 | -124 | 227 |
Deferred income taxes | ||||||||||
18,733 | 23,600 | 19,502 | 38,297 | 26,955 | 37,878 | 82,675 | 62,429 | -238,170 | 0 | 0 |
Loss on disposal of property and equipment | ||||||||||
- | - | - | - | - | - | -370 | -261 | -10 | -56 | -41 |
Share-based compensation expense | ||||||||||
16,694 | 14,563 | 10,205 | 9,493 | 8,241 | 12,612 | 12,368 | 10,780 | 8,646 | 6,363 | 38 |
Other | ||||||||||
-1,086 | -2,474 | -410 | -127 | -540 | -1,248 | - | - | - | - | - |
Net changes in operating assets and liabilities, net of acquisitions: | ||||||||||
Accounts receivable | ||||||||||
-8,231 | 43,243 | 32,857 | 21,223 | -9,610 | 2,988 | 5,257 | 137 | 22,235 | 8,621 | -11,779 |
Inventories | ||||||||||
-26,369 | 152,594 | 22,986 | -14,680 | -9,084 | -3,508 | 52,488 | 31,656 | 11,224 | 3,151 | -280 |
Other assets | ||||||||||
358 | 6,362 | 14,783 | -406 | -5,063 | -2,456 | 10,902 | 8,416 | 6,834 | -1,177 | 1,739 |
Accounts payable | ||||||||||
-69,404 | 86,359 | 42,788 | 32,908 | -27,771 | 15,269 | -5,847 | -3,898 | 18,517 | 7,896 | -20,886 |
Accrued wages and employee benefits | ||||||||||
-3,724 | 12,626 | 6,105 | 5,196 | -5,361 | -9,405 | 6,248 | 3,168 | 6,516 | -197 | 1,280 |
Other accrued liabilities | ||||||||||
-16,252 | 16,972 | 37,029 | 10,091 | 445 | 6,229 | 9,491 | 39,915 | 22,175 | -12,519 | -32,037 |
Excess tax benefits from equity awards | ||||||||||
2,263 | 1,877 | 3,152 | 7,920 | 9,559 | 10,972 | 11,553 | 4,588 | 200 | - | - |
Net cash provided by operating activities | ||||||||||
308,887 | 247,227 | 257,322 | 241,122 | 188,619 | 252,986 | 259,944 | 235,594 | 169,712 | 114,481 | 74,607 |
Investing activities | ||||||||||
Proceeds from sale of property and equipment | ||||||||||
95 | 214 | 82 | 1,360 | 105 | 394 | 80 | 91 | 14 | 76 | 69 |
Proceeds from beneficial interests in securitization transactions | ||||||||||
2,630 | 3,933 | 3,794 | 12,287 | - | - | - | - | - | - | - |
Expenditures for property and equipment | ||||||||||
60,802 | 47,601 | 33,261 | 30,467 | 30,651 | 34,689 | 30,770 | 22,392 | 12,060 | 9,631 | 4,525 |
Proceeds from sale of business, net | ||||||||||
- | - | - | - | - | - | 2,254 | - | 0 | - | - |
Collections on receivable notes | ||||||||||
- | - | - | - | - | - | - | - | - | - | 105 |
Acquisition of business, net of cash acquired | ||||||||||
112,001 | 65,440 | -1,257 | 61,386 | 73,782 | 61,196 | 116,113 | 47,044 | 83,907 | 1,649 | 0 |
Deposit paid related to acquisition | ||||||||||
- | - | - | 15,329 | 0 | 0 | - | - | - | - | - |
Net cash used in investing activities | ||||||||||
-170,078 | -108,894 | -28,128 | -93,535 | -104,328 | -95,491 | -144,549 | -69,345 | -95,953 | -11,204 | -4,351 |
Financing activities | ||||||||||
Proceeds from short-term borrowings | ||||||||||
73,340 | 53,965 | 101,991 | 28,712 | 26,384 | 6,550 | 16,007 | 23,018 | 0 | 0 | - |
Proceeds from long-term borrowings | ||||||||||
1,660 | 51,425 | 3,069 | - | 100,000 | 0 | 1,200,000 | 1,455,614 | 0 | 0 | - |
Repayments of short-term borrowings | ||||||||||
59,518 | 27,880 | 114,874 | 27,755 | 23,149 | 26,444 | 18,982 | 23,000 | 0 | 0 | - |
Repayments of long-term borrowings and finance lease obligations | ||||||||||
53,049 | 101,827 | 117,475 | 37,627 | 150,826 | 94,035 | 901,184 | 1,175,124 | 59,355 | 434,310 | 9,500 |
Stock repurchases | ||||||||||
0 | 25,656 | 30,012 | 149,937 | 99,942 | 0 | 0 | - | - | - | - |
Payment of contingent acquisition consideration | ||||||||||
5,550 | 0 | 0 | - | - | - | - | - | - | - | - |
Payment of debt issuance costs | ||||||||||
1,473 | 1,702 | 3,901 | 4,557 | 2,117 | 4 | 22,376 | 25,691 | 0 | 0 | 678 |
Cash dividends paid to noncontrolling interest of subsidiary | ||||||||||
285 | 314 | 0 | 76 | 1,436 | 902 | 343,429 | 404,332 | 0 | 0 | - |
Stockholders' contributions of capital - Series A preferred stock | ||||||||||
- | - | - | - | - | - | - | - | - | - | 20,000 |
Taxes paid related to equity awards | ||||||||||
6,438 | 5,659 | 5,892 | 14,008 | 12,956 | 12,160 | 14,988 | 6,425 | 371 | 0 | 0 |
Proceeds from issuance of common stock | ||||||||||
- | - | - | - | - | - | - | - | - | 248,309 | 0 |
Proceeds from exercise of stock options | ||||||||||
9,395 | 5,614 | 6,951 | 1,623 | 0 | 0 | - | - | 310 | 0 | 0 |
Excess tax benefits from equity awards | ||||||||||
- | - | - | 7,920 | 9,559 | 10,972 | 11,553 | 4,588 | 200 | 0 | 0 |
Net cash used in financing activities | ||||||||||
-41,918 | -52,034 | -160,143 | -195,705 | -154,483 | -116,023 | -73,399 | -151,352 | -59,216 | -186,001 | 9,822 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
1,510 | -289 | 2,149 | -467 | -3,712 | -1,858 | 128 | - | 0 | - | - |
Net decrease in cash and cash equivalents | ||||||||||
98,401 | 86,010 | 71,200 | -48,585 | -73,904 | 39,614 | 42,124 | 14,897 | 14,543 | -82,724 | 80,078 |
Supplemental disclosure of cash flow information | ||||||||||
Interest | ||||||||||
35,465 | 41,007 | 41,105 | 42,456 | 39,524 | 42,592 | 55,828 | 33,076 | 24,264 | 36,796 | -75,601 |
Income taxes | ||||||||||
61,767 | 41,044 | 23,836 | 8,889 | 6,087 | 34,283 | 25,821 | 2,811 | 437 | 322 | -383 |
Contributions of capital related to debt extinguishment | ||||||||||
- | - | - | - | - | - | - | - | - | - | 14,754 |