| 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 | ||||||||||
188,500 | 328,000 | 362,000 | 222,400 | 214,600 | 169,300 | 67,700 | 92,000 | 72,200 | 69,600 | 23,200 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ||||||||||
96,100 | 210,400 | 188,000 | - | - | - | - | - | - | - | - |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
188,700 | 172,400 | 171,500 | 240,600 | 212,800 | 196,600 | 194,400 | 190,200 | 179,800 | 171,300 | 172,400 |
Provision for credit losses | ||||||||||
40,100 | 36,900 | 37,900 | 40,500 | 18,800 | 16,600 | 11,700 | 9,500 | 8,300 | 13,800 | 3,200 |
Deferred income taxes | ||||||||||
-3,300 | 3,000 | -72,300 | -4,200 | 5,000 | -24,500 | 22,700 | -3,700 | -3,500 | -2,300 | -8,800 |
Amortization of debt issuance costs | ||||||||||
12,200 | 10,600 | 10,400 | 8,800 | 7,200 | 7,500 | 11,100 | 7,100 | 10,100 | 13,700 | 13,500 |
Stock-based compensation | ||||||||||
19,600 | 19,600 | 20,400 | 18,100 | 11,700 | 28,000 | 67,200 | 23,200 | 17,000 | 19,800 | 16,400 |
Excess tax benefit from stock-based compensation | ||||||||||
- | - | - | - | - | 4,100 | 7,600 | 1,000 | - | - | - |
Contingent consideration adjustment | ||||||||||
- | - | - | - | - | - | - | 1,100 | 4,600 | - | - |
Loss (gain) on disposal of fixed assets | ||||||||||
-200 | 0 | 300 | -100 | -900 | 200 | -100 | 1,500 | 200 | -1,300 | 300 |
Loss on extinguishment of debt | ||||||||||
-2,200 | 0 | -27,500 | -5,400 | 0 | -30,300 | -5,400 | 0 | -53,500 | -32,700 | - |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ||||||||||
0 | 0 | 21,600 | 0 | 0 | - | - | - | - | - | - |
Other non-cash, net | ||||||||||
-11,900 | 400 | -7,100 | -9,500 | -2,000 | -3,600 | -5,500 | -13,200 | -9,800 | -11,100 | -15,700 |
Changes in operating assets and liabilities, net of acquisitions: | ||||||||||
Finance receivables held for sale | ||||||||||
- | - | - | - | - | - | - | - | - | -50,200 | -26,100 |
Retained interests in finance receivables sold | ||||||||||
- | - | - | - | - | - | - | - | - | -89,800 | 46,400 |
Trade receivables and other assets | ||||||||||
3,000 | 49,000 | -4,100 | 194,700 | 127,000 | 52,300 | -11,800 | 80,000 | -1,500 | 33,600 | -38,500 |
Accounts payable and accrued expenses | ||||||||||
19,800 | 127,900 | 600 | 31,500 | 136,100 | 60,500 | 44,000 | 40,100 | -38,100 | 30,200 | -2,700 |
Net cash provided by operating activities - continuing operations | ||||||||||
380,800 | 438,600 | 359,300 | 378,000 | 482,100 | 431,300 | 434,000 | 290,200 | 305,800 | 467,600 | 250,800 |
Net cash provided by operating activities - discontinued operations | ||||||||||
161,200 | 284,300 | 238,200 | - | - | - | - | - | - | - | - |
Investing activities | ||||||||||
Net decrease in finance receivables held for investment | ||||||||||
132,700 | 138,600 | 148,500 | 176,400 | 295,900 | 282,800 | 118,800 | 126,500 | 120,100 | 669,000 | 10,600 |
Acquisition of businesses (net of cash acquired) | ||||||||||
120,700 | 45,200 | 72,400 | 432,100 | 118,100 | 31,900 | 45,800 | 1,100 | 214,600 | 48,700 | 5,500 |
Purchases of property, equipment and computer software | ||||||||||
161,600 | 131,300 | 97,300 | 155,100 | 134,700 | 101,000 | 96,600 | 102,000 | 85,800 | 78,900 | 65,600 |
Advance to equity method investee | ||||||||||
0 | 0 | -5,000 | 0 | 0 | - | - | - | - | - | - |
Proceeds from the sale of property and equipment | ||||||||||
- | - | - | 0 | 300 | 1,100 | 200 | 5,700 | 300 | 2,000 | 7,900 |
(Increase) decrease in restricted cash | ||||||||||
- | - | - | - | -800 | -1,800 | 6,900 | 3,700 | -400 | -700 | -6,600 |
Net cash used by investing activities - continuing operations | ||||||||||
-415,000 | -315,100 | -323,200 | -763,600 | -547,600 | -412,800 | -267,900 | -227,600 | -419,800 | -793,900 | -67,200 |
Net cash used by investing activities - discontinued operations | ||||||||||
-37,400 | -66,100 | -55,100 | - | - | - | - | - | - | - | - |
Financing activities | ||||||||||
Net (decrease) increase in book overdrafts | ||||||||||
-4,700 | -20,700 | -1,500 | 17,700 | 10,700 | 9,900 | 3,700 | -24,100 | 32,500 | -16,700 | -23,000 |
Net (decrease) increase in borrowings from lines of credit | ||||||||||
19,300 | 0 | -80,500 | -59,500 | 140,000 | 0 | 0 | -68,900 | 68,900 | - | -4,500 |
Net decrease in obligations collateralized by finance receivables | ||||||||||
3,800 | 101,400 | 65,000 | 96,800 | 349,800 | 99,600 | 64,000 | 101,100 | 90,200 | 520,100 | - |
Proceeds from long-term debt | ||||||||||
947,600 | 0 | 2,717,000 | 1,336,500 | 0 | 1,767,200 | 188,000 | 0 | 1,691,500 | - | - |
Payments of Debt Issuance Costs | ||||||||||
14,100 | 12,500 | 22,600 | 32,800 | 10,900 | 12,300 | 26,000 | 3,400 | 30,600 | 1,300 | 5,700 |
Payments on long-term debt | ||||||||||
1,749,000 | 17,000 | 2,436,700 | 662,600 | 21,500 | 1,785,100 | 52,700 | 17,000 | 1,153,100 | 103,300 | 250,000 |
Payment for early extinguishment of debt | ||||||||||
- | - | - | - | - | - | 188,400 | 0 | 600,700 | 317,400 | - |
Payments on finance leases | ||||||||||
15,900 | 15,400 | 13,300 | 25,600 | 20,500 | 19,400 | 15,700 | 13,900 | 8,500 | 5,000 | 3,000 |
Payments for Contingent Consideration and deferred Acquisition Costs | ||||||||||
9,400 | 18,100 | 7,000 | 3,600 | 1,200 | 200 | 1,600 | 5,600 | 3,900 | 2,000 | 1,600 |
Initial net investment for interest rate caps | ||||||||||
0 | 0 | 1,700 | 0 | 2,200 | 0 | 2,200 | 0 | 1,100 | - | 1,300 |
Proceeds from issuance of common stock, net of costs | ||||||||||
- | - | - | - | - | - | - | - | - | - | 310,300 |
Issuance of common stock under stock plans | ||||||||||
4,300 | 15,000 | 11,400 | 17,100 | 22,700 | 27,600 | 25,300 | 3,300 | 6,000 | 4,900 | - |
Tax withholding payments for vested RSUs | ||||||||||
10,800 | 10,200 | 5,900 | 10,500 | 0 | - | - | - | - | - | - |
Excess tax benefit from stock-based compensation | ||||||||||
- | - | - | - | - | 4,100 | 7,600 | 1,000 | 1,800 | 1,700 | - |
Repurchase and retirement of common stock | ||||||||||
119,700 | 150,000 | 150,000 | 80,400 | 227,600 | 0 | 0 | - | - | - | - |
Dividends paid to stockholders | ||||||||||
164,300 | 188,300 | 174,800 | 157,100 | 151,900 | 139,900 | 78,600 | 26,000 | 0 | - | - |
Cash transferred to IAA | ||||||||||
50,900 | 0 | 0 | - | - | - | - | - | - | - | - |
Net cash used by financing activities - continuing operations | ||||||||||
-1,163,800 | -315,800 | -100,600 | 436,000 | 87,400 | -48,500 | -76,600 | -53,500 | 93,000 | 81,000 | 21,200 |
Net cash used by financing activities - discontinued operations | ||||||||||
1,317,600 | -4,300 | -7,000 | - | - | - | - | - | - | - | - |
Effect of exchange rate changes on cash | ||||||||||
12,800 | -20,400 | 14,000 | -1,900 | -19,800 | -8,700 | -6,600 | 2,200 | -700 | 500 | 700 |
Net decrease in cash, cash equivalents and restricted cash | ||||||||||
256,200 | 1,200 | 125,600 | 48,500 | 2,100 | -38,700 | 82,900 | 11,300 | -21,700 | -244,800 | 205,500 |
Cash paid for interest, net of proceeds from interest rate derivatives | ||||||||||
170,000 | 180,800 | 147,100 | 124,500 | 79,700 | 75,900 | 89,800 | 109,000 | 136,800 | 129,400 | 157,800 |
Cash paid for taxes, net of refunds | ||||||||||
37,800 | 57,900 | 70,100 | 121,600 | 129,900 | 102,200 | 46,800 | 65,300 | 36,500 | 36,300 | 18,800 |
Discontinued Operations | ||||||||||
Cash paid for taxes, net of refunds | ||||||||||
41,400 | 64,000 | 55,900 | - | - | - | - | - | - | - | - |