| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||
Net earnings | ||||||||||
67,500 | 73,300 | 80,200 | 82,114 | 65,948 | 46,585 | 23,184 | 51,523 | 58,011 | 28,024 | 27,353 |
Adjustments to reconcile net earnings to cash provided by (used in) operating | ||||||||||
Depreciation | ||||||||||
29,600 | 25,500 | 22,700 | 19,071 | 17,364 | 16,327 | 14,727 | 14,632 | 15,373 | 17,433 | 18,497 |
Amortization expense (including debt issuance costs) | ||||||||||
9,900 | 9,800 | 3,900 | 3,954 | 3,915 | 3,715 | 1,634 | 1,915 | 2,365 | 2,028 | 2,082 |
Deferred income tax benefit | ||||||||||
-1,300 | 4,800 | -19,600 | 26,016 | 158 | -269 | 3,529 | 4,393 | 2,560 | 7,075 | 5,225 |
Loss on extinguishment of debt | ||||||||||
-400 | -1,400 | 0 | 0 | - | - | - | - | - | - | - |
Pension settlement charges | ||||||||||
-21,000 | -5,700 | -2,200 | - | - | - | - | - | - | - | - |
Write-off of fixed assets due to restructuring | ||||||||||
- | - | - | - | - | - | - | - | - | 2,962 | - |
Write-off of deferred financing fees | ||||||||||
- | - | - | - | - | 347 | 0 | 477 | 0 | - | - |
Inventory obsolescence | ||||||||||
2,000 | 1,700 | 1,900 | 2,376 | 2,656 | 1,761 | 2,043 | - | - | - | - |
Loss on disposal of property, plant and equipment | ||||||||||
- | - | - | -5 | -1,229 | -464 | -128 | - | - | - | - |
Unrealized foreign currency losses | ||||||||||
-2,000 | -500 | -1,300 | -827 | 8,789 | 6,640 | 4,578 | -1,338 | 2,551 | -2,050 | -5,517 |
Stock-based compensation | ||||||||||
10,800 | 9,200 | 9,700 | 10,469 | 8,166 | 8,062 | 10,473 | 10,356 | 9,671 | 9,208 | 8,209 |
Ineffective portion of interest rate swaps | ||||||||||
- | - | - | - | - | - | - | - | - | -1,177 | - |
Curtailment benefit | ||||||||||
- | - | - | - | - | - | - | - | -5,445 | -338 | -1,063 |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | ||||||||||
6,500 | 0 | 0 | - | 10,650 | 0 | 8,900 | 0 | 0 | - | - |
Non-cash write-off of property, plant and equipment | ||||||||||
0 | 0 | 16,300 | 0 | 0 | - | - | - | - | - | - |
Bad debt and customer claims | ||||||||||
- | - | - | 6,303 | 1,477 | 2,590 | 834 | - | - | - | - |
Other non-cash items | ||||||||||
-1,800 | -2,800 | -1,800 | - | - | - | - | 412 | -139 | -108 | -636 |
Changes in assets and liabilities: | ||||||||||
Customer receivables | ||||||||||
-13,000 | 25,000 | 5,500 | -26,591 | 4,292 | 13,814 | -1,621 | -9,134 | -991 | 14,676 | -14,807 |
Inventories | ||||||||||
20,900 | 16,200 | 4,000 | 2,157 | 4,481 | 23,063 | 1,085 | -1,019 | 4,158 | 6,032 | -23,112 |
Current income taxes | ||||||||||
- | - | - | -6,871 | 675 | - | - | - | - | - | - |
Prepaid expenses and other assets | ||||||||||
-6,200 | 3,500 | 3,400 | 13,815 | 5,425 | 3,601 | -414 | 3,920 | -881 | 2,768 | -2,470 |
Accounts payable | ||||||||||
-1,400 | 12,500 | 12,100 | 4,591 | -26,253 | 23,002 | 6,204 | -1,641 | -17,695 | 28,051 | -6,327 |
Current and deferred income taxes | ||||||||||
- | - | - | - | - | 5,528 | -15,663 | 13,782 | -3,075 | -9,340 | 14,808 |
Other current liabilities | ||||||||||
-8,900 | 13,600 | -15,900 | -3,430 | 22,937 | -6,969 | -8,098 | 788 | 1,738 | 8,735 | -28,707 |
Other noncurrent assets and liabilities | ||||||||||
0 | 7,900 | 0 | 51,749 | -2,919 | -45,258 | 20,979 | 5,252 | -1,966 | 2,745 | 4,150 |
Cash provided by (used in) operating activities | ||||||||||
138,200 | 108,200 | 103,700 | 104,295 | 88,854 | 88,227 | 54,614 | 70,568 | 66,921 | 89,632 | 52,853 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||
Capital expenditures | ||||||||||
49,900 | 40,300 | 40,600 | 40,105 | 29,610 | 41,901 | 29,379 | 16,545 | 15,175 | 8,312 | 13,706 |
Purchase of businesses, net of cash acquired | ||||||||||
30,900 | 308,000 | 0 | 18,456 | 0 | 93,349 | 0 | 5,968 | 832 | - | - |
Proceeds from sales of assets | ||||||||||
100 | 0 | 0 | - | - | - | - | - | - | - | - |
Purchase of licenses | ||||||||||
- | - | - | - | - | - | - | 488 | 325 | 725 | 813 |
Cash used in investing activities | ||||||||||
-80,700 | -348,300 | -40,600 | -58,561 | -29,610 | -135,250 | -29,379 | -23,001 | -16,332 | -9,037 | -14,519 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||
Proceeds from revolving credit facility | ||||||||||
417,500 | 490,500 | 310,000 | 377,500 | 309,000 | 789,000 | 281,000 | 562,000 | 334,000 | 213,000 | 251,000 |
Repayment of revolving credit facility | ||||||||||
413,500 | 383,000 | 338,000 | 379,500 | 345,000 | 704,000 | 301,000 | 581,000 | 367,000 | 263,000 | 293,000 |
Proceeds from term loans | ||||||||||
0 | 350,200 | 0 | 0 | - | - | - | - | - | - | - |
Repayment of term loans | ||||||||||
17,100 | 177,900 | 0 | 0 | - | - | - | - | 135 | 134 | 131 |
Capitalized debt issuance costs | ||||||||||
1,500 | 4,600 | 0 | 0 | 10 | 1,938 | 13 | 2,848 | 0 | - | - |
Payment of fees related to debt extinguishment | ||||||||||
0 | 1,000 | 0 | 0 | - | - | - | - | - | - | - |
Payment of dividends | ||||||||||
32,800 | 30,000 | 30,200 | 29,217 | 24,364 | 22,742 | 22,529 | 20,537 | 16,658 | 5,496 | 8,171 |
Proceeds from the issuance of common stock | ||||||||||
0 | 0 | 600 | 2,847 | 5,756 | 4,914 | 4,029 | 1,091 | 13,238 | 9,737 | 111 |
Purchase of common stock for treasury | ||||||||||
3,300 | 4,400 | 10,900 | 5,464 | 8,725 | 8,974 | 5,638 | 4,676 | 15,026 | 12,073 | 1,587 |
Contingent purchase price payment | ||||||||||
0 | 0 | 6,000 | - | - | - | - | - | - | - | - |
Contingent purchase price payment | ||||||||||
- | - | - | 5,000 | 5,000 | 0 | 0 | - | - | - | - |
Tax benefit from the exercise of stock options and vesting of equity awards | ||||||||||
- | - | - | - | 826 | 1,005 | 643 | 179 | 1,668 | 479 | - |
Cash provided by (used in) financing activities | ||||||||||
-50,700 | 239,800 | -74,500 | -38,834 | -67,517 | 57,265 | -43,508 | -45,791 | -49,913 | -57,487 | -51,778 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
100 | -300 | 3,700 | -1,238 | -6,556 | -3,247 | 343 | -83 | 652 | -2,134 | 4,502 |
Net increase in cash and cash equivalents | ||||||||||
6,900 | -600 | -7,700 | 5,662 | -14,829 | 6,995 | -17,930 | 1,693 | 1,328 | 20,974 | -8,942 |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid for interest, net of amounts capitalized | ||||||||||
20,300 | 18,300 | 7,600 | 5,228 | 6,168 | 6,879 | 5,280 | - | - | - | - |
Cash paid for income taxes, net of refunds received | ||||||||||
12,500 | 9,600 | 22,400 | - | - | 18,646 | 18,281 | - | - | - | - |