| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||
OPERATING ACTIVITIES | ||||||
Net (loss) income | ||||||
96,654 | 263,073 | 116,191 | ||||
Adjustments to reconcile net (loss) income to cash (used) provided by operating activities: | ||||||
Depreciation and amortization | ||||||
30,760 | 31,035 | 33,628 | ||||
Stock-based compensation | ||||||
23,844 | 14,894 | 13,021 | ||||
Provision for doubtful accounts | ||||||
5,988 | 6,484 | 4,571 | ||||
Deferred income taxes | ||||||
4,174 | -1,501 | -36,490 | ||||
Non-cash impairment of intangible asset | ||||||
32,636 | 0 | 0 | ||||
Other | ||||||
-2,442 | -3,790 | -905 | ||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-24,971 | 17,743 | 36,389 | ||||
Inventories | ||||||
-9,682 | 45,757 | -22,069 | ||||
Due from former parent | ||||||
-548,301 | 326,075 | 14,523 | ||||
Accounts payable | ||||||
31,923 | -37,598 | 4,147 | ||||
Income taxes | ||||||
4,033 | 6,328 | -3,308 | ||||
Accrued liabilities | ||||||
23,273 | 53,071 | 5,612 | ||||
Due to former parent | ||||||
-16,065 | -22,524 | -20,296 | ||||
Other assets and liabilities | ||||||
36,480 | 26,782 | -6,483 | ||||
Cash (used) provided by operating activities | ||||||
777,788 | -96,303 | 168,601 | ||||
INVESTING ACTIVITIES | ||||||
INVESTING ACTIVITIES | ||||||
Capital expenditures | ||||||
22,679 | 21,038 | 25,584 | ||||
Software purchases | ||||||
14,807 | 1,663 | 879 | ||||
Amounts advanced for notes receivable from former parent | ||||||
0 | 0 | 29,800 | ||||
Collection of notes receivable from former parent | ||||||
517,940 | 29,800 | 0 | ||||
Other | ||||||
-3,493 | -4,230 | 1,354 | ||||
Cash used by investing activities | ||||||
483,947 | 11,329 | -57,617 | ||||
FINANCING ACTIVITIES | ||||||
FINANCING ACTIVITIES | ||||||
Proceeds from issuance of long-term debt | ||||||
1,050,000 | 0 | 0 | ||||
Payment of debt issuance costs | ||||||
12,993 | 0 | 0 | ||||
Principal payments of long-term debt | ||||||
127,000 | 0 | 0 | ||||
Repayment of notes payable to former parent | ||||||
269,112 | 0 | 0 | ||||
Net transfers to former parent | ||||||
-1,814,682 | 107,246 | -119,563 | ||||
Dividends paid | ||||||
63,555 | 0 | 0 | ||||
Proceeds from issuance of Common Stock, net of shares withheld for taxes | ||||||
1,035 | 0 | 0 | ||||
Net decrease in short-term borrowings | ||||||
-4,911 | -915 | -256 | ||||
Other | ||||||
-10,876 | 0 | 0 | ||||
Cash provided (used) by financing activities | ||||||
-1,252,094 | 106,331 | -119,819 | ||||
Effect of foreign currency rate changes on cash and cash equivalents | ||||||
391 | -5,392 | 2,798 | ||||
Net change in cash and cash equivalents | ||||||
10,032 | 15,965 | -6,037 | ||||
Interest paid | ||||||
29,407 | 6,618 | 6,455 | ||||
Income taxes paid | ||||||
28,886 | 180 | 1,723 | ||||
Change in accrual for property, plant and equipment | ||||||
4,854 | 580 | 797 | ||||
Change in accrual for computer software | ||||||
5,352 | 602 | 1,687 | ||||