| Dec'19 | Dec'18 | Dec'17 | Jan'17 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net earnings (loss) | ||||||||||
112,400 | 22,900 | 71,600 | 120,800 | 53,800 | 23,700 | 58,900 | 50,100 | 63,700 | 26,100 | -104,500 |
Adjustments to reconcile net earnings (loss) to net cash from operating activities: | ||||||||||
Deferred income taxes on goodwill impairment charge | ||||||||||
-18,300 | -47,500 | -5,900 | 7,400 | -11,800 | -26,800 | -31,300 | 4,700 | -27,300 | -9,300 | -31,000 |
Depreciation and amortization | ||||||||||
31,600 | 26,200 | 22,700 | 21,300 | 22,300 | 21,700 | 20,400 | 22,300 | 31,400 | -34,900 | 40,900 |
Operating lease asset amortization | ||||||||||
22,300 | 0 | 0 | - | - | - | - | - | - | - | - |
Provision for bad debts | ||||||||||
4,100 | 3,000 | 5,600 | 11,000 | 3,700 | 5,300 | 2,000 | 1,100 | 4,300 | -2,100 | 2,200 |
Stock-based compensation | ||||||||||
5,600 | 8,100 | 9,100 | 10,200 | 7,900 | 5,300 | 3,800 | 4,800 | 4,600 | -3,200 | 5,100 |
(Gain) loss on investment in Persol Holdings | ||||||||||
35,800 | -96,200 | 0 | 0 | - | - | - | - | - | - | - |
(Gain) loss on sale of assets | ||||||||||
12,300 | 0 | 0 | - | - | - | - | - | - | - | - |
Asset impairment charge | ||||||||||
15,800 | 0 | 0 | - | - | - | 1,700 | 3,100 | - | 2,000 | 53,100 |
Gain on investment in PersolKelly Asia Pacific | ||||||||||
- | - | - | 87,200 | 0 | 0 | - | - | - | - | - |
Equity in net (earnings) loss of PersolKelly Pte. Ltd. | ||||||||||
-3,600 | 5,200 | 2,700 | 1,100 | - | - | - | - | - | - | - |
Other, net | ||||||||||
400 | 800 | -200 | 2,800 | 4,700 | 2,200 | -600 | -1,300 | 2,600 | 500 | 2,200 |
Changes in operating assets and liabilities, net of acquisitions | ||||||||||
26,400 | 41,500 | 29,800 | 39,500 | 45,900 | 97,000 | -59,200 | 26,300 | 55,000 | 17,700 | -9,000 |
Net cash from operating activities | ||||||||||
102,200 | 61,400 | 70,800 | 40,100 | 25,300 | -70,000 | 115,300 | 61,100 | 19,100 | 41,800 | -27,400 |
Cash flows from investing activities: | ||||||||||
Capital expenditures | ||||||||||
20,000 | 25,600 | 24,600 | 12,700 | 16,900 | 21,700 | 20,000 | 21,500 | 15,400 | 11,000 | 13,100 |
Acquisition of companies, net of cash received | ||||||||||
86,400 | 0 | 37,200 | 0 | 0 | - | - | - | 6,500 | - | 7,500 |
Investment in equity securities | ||||||||||
1,000 | 5,000 | 0 | 0 | - | - | - | - | - | - | - |
Net cash proceeds from investment in PersolKelly Asia Pacific equity affiliate | ||||||||||
- | - | - | 23,300 | 0 | 0 | - | - | - | - | - |
Loans to equity affiliate | ||||||||||
-4,400 | -7,000 | 600 | 0 | 0 | - | - | - | - | - | - |
Proceeds from sale of assets | ||||||||||
13,800 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from company-owned life insurance | ||||||||||
3,000 | 7,900 | 0 | 0 | - | - | - | - | - | - | - |
Investment in PersolKelly equity affiliate | ||||||||||
- | - | - | - | 500 | 5,700 | 0 | 6,600 | - | - | - |
Other investing activities | ||||||||||
-700 | 100 | -200 | 0 | 200 | -200 | 800 | 0 | -1,200 | 300 | 2,800 |
Net cash used in investing activities | ||||||||||
-94,300 | -29,800 | -61,000 | 10,600 | -17,600 | -27,200 | -20,800 | -28,100 | -20,700 | -11,300 | -23,400 |
Cash flows from financing activities: | ||||||||||
Net change in short-term borrowings | ||||||||||
-300 | -7,800 | 10,100 | -55,900 | -34,700 | 63,900 | -35,800 | -31,900 | 79,200 | -44,800 | 52,700 |
Financing lease payments | ||||||||||
700 | 0 | 0 | - | - | - | - | - | - | - | - |
Repayment of debt | ||||||||||
- | - | - | - | - | - | - | - | 68,300 | 14,900 | 30,500 |
Dividend payments | ||||||||||
11,900 | 11,800 | 11,600 | 10,700 | 7,700 | 7,600 | 7,600 | 7,600 | 3,800 | - | - |
Payments of tax withholding for stock awards | ||||||||||
2,500 | 6,900 | 1,800 | 2,200 | 1,800 | - | - | - | - | - | - |
Other financing activities | ||||||||||
-700 | 0 | -100 | -300 | 200 | 300 | -300 | 100 | -1,000 | 24,400 | -2,600 |
Net cash from (used in) financing activities | ||||||||||
-16,100 | -26,500 | -3,400 | -69,100 | -44,000 | 56,600 | -43,700 | -39,400 | 6,100 | -35,300 | 19,600 |
Effect of exchange rates on cash, cash equivalents and restricted cash | ||||||||||
-900 | -1,900 | -3,800 | 6,300 | -4,600 | -2,000 | -1,400 | 1,700 | -4,000 | -3,600 | 1,800 |
Net change in cash, cash equivalents and restricted cash | ||||||||||
-9,100 | 3,200 | 2,600 | -12,100 | -40,900 | -42,600 | 49,400 | -4,700 | 500 | -8,400 | -29,400 |