| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income (loss) including noncontrolling interest | |||||||||||
181,100 | 129,000 | -170,300 | 126,400 | 170,500 | 221,100 | 207,200 | 201,351 | 199,202 | 146,503 | 117,563 | 105,205 |
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
87,400 | 81,500 | 86,000 | 82,300 | 65,500 | 57,300 | 44,700 | 36,714 | 40,530 | 19,106 | 16,956 | 13,870 |
Provision for bad debt | |||||||||||
25,900 | 25,100 | 9,300 | 15,400 | 7,500 | 3,800 | 11,700 | 4,790 | 8,173 | 4,262 | 4,552 | 16,081 |
Share-based payment award compensation costs | |||||||||||
23,600 | 8,300 | 21,200 | 19,200 | 17,000 | 15,800 | 16,700 | 14,079 | 11,041 | 10,126 | 6,480 | 14,674 |
Deferred income tax expense (benefit) | |||||||||||
3,300 | -3,200 | 13,900 | -36,000 | 5,300 | 10,800 | -8,200 | 9,665 | 1,641 | -7,379 | 7,919 | -5,390 |
Asset Impairment Charges | |||||||||||
0 | 0 | 91,900 | 0 | 0 | - | - | - | - | - | - | - |
Restructuring charges | |||||||||||
12,600 | 0 | 25,700 | 0 | 0 | - | - | - | - | - | - | - |
Extinguishment of liabilities, net | |||||||||||
- | - | - | - | - | 5,300 | 8,500 | 11,199 | 8,348 | 9,800 | - | - |
Foreign currency (gains) losses, net | |||||||||||
-10,800 | -8,700 | 600 | 11,800 | 7,300 | 7,800 | -100 | - | - | 164 | 1,163 | 652 |
(Gain) loss on sale of business | |||||||||||
13,900 | 0 | 0 | - | - | 18,100 | - | - | - | - | - | - |
Gain on short-term investment | |||||||||||
- | - | - | - | - | - | - | - | - | 1,900 | - | - |
Other | |||||||||||
1,800 | 3,300 | 1,200 | 7,500 | 5,000 | 5,300 | -2,000 | 5,659 | -3,431 | -474 | -1,052 | 275 |
Changes in assets and liabilities, net of acquisitions: | |||||||||||
Accounts receivable, net | |||||||||||
164,100 | 445,200 | 705,400 | 661,300 | -485,000 | -460,700 | 328,900 | -97,297 | 725,986 | 329,105 | 262,912 | -706,912 |
Inventories | |||||||||||
61,300 | 11,800 | 43,900 | 49,500 | -81,400 | -232,300 | 77,700 | 90,847 | 222,445 | 58,924 | 93,606 | -75,700 |
Prepaid expenses | |||||||||||
17,800 | 5,300 | 19,700 | -7,700 | -10,800 | -46,500 | -30,700 | 51,155 | 2,319 | 62,575 | -708 | 17,776 |
Short-term derivative assets, net | |||||||||||
-132,000 | 151,300 | 200 | -163,700 | -81,500 | 265,800 | -3,500 | -2,577 | - | - | - | -17,013 |
Other current assets | |||||||||||
52,800 | 53,100 | 13,900 | 20,400 | -34,000 | 38,000 | 22,600 | 3,517 | 78,044 | 39,035 | -57,556 | -3,128 |
Transaction taxes receivable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -5,344 |
Cash collateral with financial counterparties | |||||||||||
-42,700 | 29,200 | -26,700 | 149,200 | 133,300 | -288,000 | 9,900 | -11,059 | 4,957 | -224 | - | - |
Other non-current assets | |||||||||||
-33,600 | 61,500 | 30,300 | -4,400 | 1,900 | -13,700 | 19,600 | -4,793 | -4,237 | 3,888 | 5,504 | - |
Accounts payable | |||||||||||
143,700 | 171,300 | 451,200 | 423,400 | -481,500 | -587,800 | 385,400 | -45,179 | 581,948 | 257,208 | 242,611 | -531,315 |
Customer deposits | |||||||||||
8,100 | 11,800 | 13,400 | -26,300 | -17,500 | 12,800 | 13,800 | -6,513 | - | -2,400 | 22,592 | 1,968 |
Transaction taxes payable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 826 |
Short-term derivative liabilities, net | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -23,061 |
Accrued expenses and other current liabilities | |||||||||||
-91,900 | 72,500 | 77,700 | -121,900 | -141,900 | 267,000 | -3,500 | 1,795 | 44,524 | 52,588 | -46,800 | 21,800 |
Non-current income tax, net and other long-term liabilities | |||||||||||
12,800 | 14,800 | 88,400 | -6,400 | 11,000 | 15,400 | 7,600 | -2,142 | -5,078 | -10,571 | 9,917 | -3,376 |
Total adjustments | |||||||||||
47,700 | -311,500 | 36,700 | -75,700 | 276,900 | -80,000 | 57,100 | -55,560 | -341,738 | -182,201 | -39,642 | 288,247 |
Net cash used in operating activities | |||||||||||
228,800 | -182,500 | -133,600 | 50,700 | 447,500 | 141,100 | 264,300 | 145,791 | -142,536 | -35,698 | 77,921 | 393,452 |
Cash flows from investing activities: | |||||||||||
Cash receipts of retained beneficial interests in receivable sales | |||||||||||
0 | 369,800 | 338,800 | 154,500 | - | - | - | - | - | - | - | - |
Acquisition of businesses, net of cash acquired | |||||||||||
0 | 21,300 | 120,700 | 430,800 | 96,900 | 273,600 | 76,900 | 217,782 | 122,702 | 177,807 | 51,982 | 93,366 |
Proceeds from sale of business | |||||||||||
30,800 | 0 | 0 | - | - | 0 | - | - | - | - | - | - |
Capital expenditures | |||||||||||
80,900 | 72,300 | 54,000 | 36,100 | 51,000 | 50,200 | 82,700 | 28,454 | 19,492 | 12,485 | 6,493 | 6,791 |
Proceeds from the sale of fixed assets | |||||||||||
- | - | - | - | - | 0 | - | - | - | - | - | - |
Escrow payment related to an assumed obligation of an acquired business | |||||||||||
- | - | - | - | - | 21,700 | - | - | - | - | - | - |
Proceeds from the sale of crude oil joint venture interests | |||||||||||
- | - | - | - | - | 43,000 | - | - | - | - | - | - |
Purchase of (COLI) investments | |||||||||||
- | - | - | - | - | 2,100 | 21,600 | - | - | - | - | - |
Purchase of short-term investments | |||||||||||
- | - | - | - | - | - | - | - | - | - | 25,185 | - |
Proceeds from the sale of short-term investments | |||||||||||
- | - | - | - | - | - | 21,600 | - | - | 10,000 | 25,185 | - |
Issuance of Note Receivable | |||||||||||
- | - | - | - | - | 0 | 8,000 | 787 | 11,109 | - | - | - |
Repayment of Note Receivable | |||||||||||
- | - | - | - | - | 7,500 | - | 401 | 8,671 | - | - | - |
Other investing activities, net | |||||||||||
400 | -9,800 | 5,400 | -38,400 | -3,200 | - | - | - | - | - | - | - |
Payments of senior revolving credit facility and senior term loan facility loan costs | |||||||||||
- | - | - | - | - | 0 | 3,600 | - | - | 8,518 | - | - |
Borrowings of other debt | |||||||||||
- | - | - | - | - | - | - | - | - | - | 2,074 | 14,507 |
Repayments of acquisition promissory notes and other debt | |||||||||||
- | - | - | - | - | - | - | - | 12,876 | 6,470 | 24,371 | - |
Decrease in cash due to deconsolidation of crude oil transloading joint venture | |||||||||||
- | - | - | - | - | - | 6,900 | - | - | - | - | - |
Funding arrangement to service provider | |||||||||||
- | - | - | - | - | - | - | - | - | - | 3,353 | - |
Net cash provided by investing activities | |||||||||||
-50,500 | 286,000 | 158,700 | -274,000 | -144,800 | -297,100 | -174,500 | -246,622 | -144,632 | -180,292 | -61,828 | -100,157 |
Cash flows from financing activities: | |||||||||||
Borrowings of debt | |||||||||||
5,001,700 | 6,188,400 | 4,472,700 | 4,688,000 | 4,831,200 | 5,757,300 | 4,556,600 | 4,050,500 | 5,019,594 | - | - | 1,871,578 |
Repayments of debt | |||||||||||
5,080,200 | 6,407,300 | 4,749,700 | 4,280,300 | 4,752,000 | 5,551,500 | 4,476,300 | 3,965,960 | 4,769,594 | - | - | 1,911,578 |
Dividends paid on common stock | |||||||||||
21,100 | 16,200 | 16,300 | 16,600 | 15,300 | 10,600 | 10,700 | 10,685 | 10,603 | 8,911 | 7,747 | 4,335 |
Payment of assumed employee benefits related to acquisitions | |||||||||||
- | - | - | - | - | - | - | - | 5,421 | 11,306 | - | - |
Federal and state tax benefits resulting from tax deductions in excess of the compensation cost recognized for share-based payment awards | |||||||||||
- | - | - | - | - | 1,000 | 3,300 | 3,681 | 5,952 | 10,380 | - | 5,842 |
Proceeds from sale of common stock, net of expenses | |||||||||||
- | - | - | - | - | - | - | - | - | 218,816 | - | - |
Proceeds from exercise of stock options | |||||||||||
- | - | - | - | - | - | - | - | - | 294 | 1,013 | 2,612 |
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards | |||||||||||
- | - | - | - | - | 5,100 | 6,800 | 4,973 | 10,206 | 3,824 | 4,954 | 1,599 |
Investment by noncontrolling interest | |||||||||||
- | - | - | - | - | 0 | 17,500 | - | 10,000 | - | - | - |
Distribution of noncontrolling interest | |||||||||||
- | - | - | - | - | 11,600 | 15,500 | 1,401 | 1,797 | 510 | 451 | 690 |
Repurchases of common stock | |||||||||||
65,400 | 20,000 | 61,900 | 41,200 | 70,500 | 10,000 | 35,000 | - | - | - | - | - |
Restricted cash | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 10,000 |
Other financing activities, net | |||||||||||
-39,900 | -2,100 | -6,300 | -9,000 | -10,500 | - | - | -4,304 | -2,483 | - | - | 291 |
Net cash used in financing activities | |||||||||||
-204,900 | -257,100 | -361,600 | 340,900 | -17,000 | 169,500 | 29,500 | 66,858 | 222,566 | 189,951 | -34,436 | -13,372 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||
1,000 | -7,000 | 10,300 | -1,500 | -5,500 | -3,400 | 100 | 1,298 | -2,876 | 89 | 2,834 | -1,722 |
Net increase (decrease) in cash and cash equivalents | |||||||||||
-25,600 | -160,600 | -326,200 | 116,100 | 280,200 | 10,200 | 119,400 | -32,675 | -67,478 | -25,950 | -15,509 | 278,201 |
Supplemental Disclosures of Cash Flow Information Cash paid during the year for: | |||||||||||
Interest, net of capitalized interest | |||||||||||
77,000 | 73,800 | 64,900 | 40,700 | 33,100 | 29,100 | 19,100 | 17,227 | 12,098 | 2,528 | 4,414 | 9,091 |
Income taxes | |||||||||||
82,900 | 85,300 | 50,800 | 37,500 | 44,000 | 40,800 | 34,600 | 26,529 | 51,096 | 24,754 | 29,820 | 20,756 |