| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Net income | |||||||||||
306,600 | 276,600 | 284,000 | 249,800 | 237,200 | 209,400 | 187,900 | 164,300 | 135,500 | 77,400 | 56,300 | 111,200 |
Reconciliation to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
141,700 | 123,100 | 104,500 | 93,300 | 76,400 | 71,200 | 59,300 | 57,200 | 55,300 | 53,200 | 46,600 | 43,900 |
Amortization related to financing | |||||||||||
900 | 1,600 | 700 | 1,700 | 1,100 | 1,600 | 2,100 | 3,100 | 7,100 | 10,300 | 4,900 | 1,700 |
Deferred income taxes | |||||||||||
16,300 | 29,300 | 3,800 | 62,800 | 53,200 | 39,700 | 16,400 | 30,900 | 23,400 | 16,100 | 19,600 | -6,500 |
Restructuring expense, net of payments | |||||||||||
-2,500 | 7,700 | - | - | - | - | - | - | - | - | - | - |
Equity in earnings from affiliated companies | |||||||||||
3,700 | 5,600 | 3,300 | 2,500 | 2,000 | 1,400 | 1,300 | 700 | 1,600 | 500 | 700 | 16,100 |
Restructuring Expense | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 3,800 |
Business consolidation and restructuring payments | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 4,300 |
Stock-based compensation | |||||||||||
18,300 | 16,200 | 17,600 | 16,100 | 17,900 | 17,200 | 18,900 | 15,800 | 13,900 | 12,400 | 8,300 | 9,400 |
Excess tax benefits on stock-based compensation | |||||||||||
- | - | - | - | 9,200 | 5,800 | 5,300 | 6,800 | 8,500 | 2,300 | 700 | -2,000 |
Gain on sale of surplus real estate | |||||||||||
- | - | - | - | - | - | - | 4,900 | - | - | - | - |
Pension curtailment gain | |||||||||||
- | - | - | - | - | - | - | - | 5,700 | - | - | - |
Changes in assets and liabilities: | |||||||||||
Increase in accounts receivable | |||||||||||
-36,500 | 20,700 | -20,200 | 17,400 | 18,400 | 15,400 | -6,400 | 28,100 | 28,200 | -22,500 | -31,800 | 3,100 |
Increase in inventories | |||||||||||
30,400 | 25,200 | -2,300 | -10,800 | 25,000 | 38,800 | 28,400 | 15,200 | 48,800 | -16,700 | -38,400 | 20,100 |
Increase in prepaid expenses and other current assets | |||||||||||
5,800 | 8,600 | 100 | 4,100 | 2,900 | -4,100 | 3,300 | -700 | 1,100 | -200 | 7,300 | -3,000 |
Increase in other non-current assets | |||||||||||
- | - | - | 13,700 | 11,600 | -40,100 | - | - | - | - | - | - |
(Decrease) increase in accounts payable/accrued liabilities | |||||||||||
12,500 | 23,300 | -2,100 | -7,900 | -10,400 | -800 | 19,200 | 20,300 | 34,100 | 4,500 | -28,100 | -27,100 |
Increase in other non-current liabilities | |||||||||||
- | - | - | 8,100 | 4,300 | -2,000 | -900 | - | - | - | - | - |
Other – net | |||||||||||
-700 | -3,700 | -1,100 | -4,400 | 9,600 | 1,100 | -100 | 4,200 | 4,900 | -5,200 | -3,700 | 200 |
Net cash provided by operating activities | |||||||||||
491,100 | 421,400 | 428,700 | 401,400 | 301,000 | 318,000 | 272,900 | 232,400 | 170,500 | 126,500 | 172,800 | 97,500 |
Cash flows from investing activities | |||||||||||
Capital expenditures | |||||||||||
204,100 | 184,100 | 278,100 | 327,900 | 305,300 | 260,100 | 194,900 | 263,700 | 158,000 | 48,800 | 98,400 | 175,900 |
Investments in affiliated companies | |||||||||||
- | - | - | - | - | 10,300 | - | - | - | - | 6,000 | - |
Acquisitions and Investments in affiliated companies | |||||||||||
163,200 | 3,400 | 76,000 | 38,600 | - | - | - | - | - | - | - | - |
Proceeds from sale of an investment in an affiliated company | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 22,300 |
Net cash used for investing activities | |||||||||||
-367,300 | -187,500 | -354,100 | -366,500 | -305,300 | -270,400 | -194,900 | -258,400 | -163,200 | -48,800 | -104,400 | -153,600 |
Cash flows from financing activities | |||||||||||
Repayments of Euro term loan | |||||||||||
9,000 | 4,200 | 4,100 | - | - | - | - | - | - | - | - | - |
Borrowing from senior unsecured credit facility | |||||||||||
- | - | - | 563,000 | - | 481,000 | - | 87,000 | 135,000 | - | - | - |
Repayment of senior unsecured credit facility | |||||||||||
- | - | - | 485,000 | 135,000 | 66,000 | - | - | - | - | - | - |
Proceeds from sale of surplus real estate | |||||||||||
- | - | - | - | - | - | - | 5,300 | - | - | - | - |
Settlement of foreign currency hedge | |||||||||||
- | - | - | - | - | - | - | - | 5,200 | - | - | - |
Proceeds from issuance of senior notes | |||||||||||
- | - | 398,300 | - | 300,000 | - | - | - | - | 100,000 | 171,500 | - |
Issuance costs | |||||||||||
- | - | - | - | - | - | - | 600 | - | 5,100 | 10,300 | - |
Proceeds from settlements of treasury locks | |||||||||||
- | - | 10,000 | - | - | - | - | - | - | - | - | - |
Proceeds from Euro term loan | |||||||||||
- | - | 37,400 | 26,400 | - | - | - | - | - | - | - | - |
Change in capital lease obligations | |||||||||||
800 | 200 | - | - | - | - | - | - | - | - | - | - |
Proceeds from previous senior secured credit facility | |||||||||||
- | - | - | - | - | 189,000 | 309,000 | - | - | - | - | - |
Repayment of previous senior secured credit facility | |||||||||||
- | - | - | - | - | 481,000 | 182,000 | - | 57,000 | - | - | - |
Borrowings (repayments) from credit line | |||||||||||
- | - | - | - | - | - | - | - | - | - | 3,000 | - |
Proceeds (repayment) of other debt, net | |||||||||||
- | 200 | -500 | 1,100 | -1,200 | -1,700 | -3,800 | -500 | -3,000 | 3,400 | 300 | -400 |
Deferred financing costs and discount related to long-term debt | |||||||||||
- | - | - | 1,700 | 3,600 | 1,400 | 2,400 | - | - | - | - | - |
Dividends paid | |||||||||||
54,200 | 48,400 | 42,600 | 39,800 | 38,300 | 0 | 0 | - | - | - | - | - |
Repayment of 6.75% senior subordinated notes | |||||||||||
- | - | - | - | - | - | - | 73,500 | 151,500 | - | - | - |
Call premium payment for 6.75% senior subordinated notes | |||||||||||
- | - | - | - | - | - | - | 800 | 3,400 | - | - | - |
Repurchase of stock | |||||||||||
143,000 | 357,700 | 150,300 | 111,100 | 146,100 | 160,000 | 90,000 | - | - | - | - | - |
Repayment of senior secured credit facility | |||||||||||
- | - | - | - | - | - | - | - | - | 164,100 | 167,000 | - |
Repayment of senior secured credit agreement term loan | |||||||||||
- | - | - | - | - | - | 85,000 | 7,500 | 5,000 | 2,500 | 10,900 | - |
Activity under stock plans | |||||||||||
7,100 | 1,000 | 12,200 | 300 | 13,300 | 3,200 | 7,000 | 4,100 | 10,500 | 3,100 | 700 | 1,200 |
Net cash (used in) provided by financing activities | |||||||||||
-91,400 | -257,300 | -58,300 | -46,800 | -10,900 | -36,900 | -47,200 | 8,200 | -74,400 | -65,200 | -12,700 | 80,100 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||
-700 | -4,000 | 8,600 | -4,700 | -3,900 | -5,300 | 2,100 | 900 | -600 | -5,400 | 3,500 | -1,200 |
Net increase in cash and cash equivalents | |||||||||||
31,700 | -27,400 | 24,900 | -16,600 | -19,100 | 5,400 | 32,900 | -16,900 | -67,700 | 7,100 | 59,200 | 22,800 |
Supplemental data: | |||||||||||
Accrual basis additions to plant, property and equipment | |||||||||||
191,000 | 179,100 | 284,400 | 320,200 | 289,000 | 270,200 | 206,500 | 241,300 | 184,500 | 60,700 | 85,700 | 177,300 |
Senior unsecured credit facility - due 2024 | |||||||||||
Borrowing from senior unsecured credit facility | |||||||||||
581,000 | - | - | - | - | - | - | - | - | - | - | - |
Repayment of senior unsecured credit facility | |||||||||||
268,000 | - | - | - | - | - | - | - | - | - | - | - |
Senior unsecured credit facility - due 2021 | |||||||||||
Borrowing from senior unsecured credit facility | |||||||||||
345,000 | 752,000 | 459,000 | - | - | - | - | - | - | - | - | - |
Repayment of senior unsecured credit facility | |||||||||||
547,000 | 600,000 | 774,000 | - | - | - | - | - | - | - | - | - |
Senior unsecured credit facility | |||||||||||
Issuance costs | |||||||||||
2,500 | - | - | - | - | - | - | - | - | - | - | - |
Senior notes | |||||||||||
Issuance costs | |||||||||||
- | - | 3,700 | - | - | - | - | - | - | - | - | - |