| 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 | ||||||||||
39,000 | 74,000 | 50,000 | -83,000 | -331,000 | 144,000 | 152,095 | 117,958 | 28,984 | -51,824 | -339,771 |
Adjustments to reconcile net income to net cash provided by (used in) operations: | ||||||||||
Depreciation and amortization | ||||||||||
21,000 | 23,000 | 22,000 | 22,000 | 21,000 | 22,000 | 22,338 | 18,585 | 17,046 | 16,579 | 14,516 |
Amortization of intangibles | ||||||||||
42,000 | 45,000 | 45,000 | 47,000 | 60,000 | 68,000 | 52,072 | 49,466 | 50,652 | 53,852 | 46,575 |
Equity-based compensation expense | ||||||||||
16,000 | 14,000 | 16,000 | 12,000 | 10,000 | 9,000 | 15,488 | 8,475 | 8,385 | 3,744 | 7,830 |
Deferred income tax benefit | ||||||||||
-5,000 | -9,000 | -78,000 | -23,000 | -87,000 | -34,000 | -19,823 | -20,432 | -16,362 | 2,673 | -49,237 |
Amortization of debt issuance costs | ||||||||||
1,000 | 1,000 | 3,000 | 4,000 | 4,000 | 5,000 | 5,777 | 8,782 | 10,456 | 11,800 | 6,900 |
Inventory-related charges | ||||||||||
5,000 | - | 6,000 | 45,000 | - | - | - | - | - | - | 46,491 |
Write off of debt issuance costs | ||||||||||
- | 1,000 | 8,000 | 1,000 | 3,000 | - | - | - | 9,450 | - | - |
Goodwill and intangible asset impairment | ||||||||||
- | - | - | - | 462,000 | - | 0 | - | - | - | 386,100 |
Amortization and release of previously designated hedge from OCI | ||||||||||
- | - | - | - | - | - | - | - | - | - | 27,925 |
Loss on early extinguishment of debt | ||||||||||
- | - | - | - | - | - | - | -113,961 | - | - | 1,304 |
(Decrease) increase in LIFO reserve | ||||||||||
-2,000 | 62,000 | 28,000 | -14,000 | -53,000 | 12,000 | -20,180 | -24,140 | 73,703 | 74,557 | -115,597 |
Change in fair value of derivative instruments | ||||||||||
- | 1,000 | -1,000 | 1,000 | -1,000 | -1,000 | 4,731 | 2,186 | 7,044 | -4,926 | 8,946 |
Hedge termination | ||||||||||
- | - | - | - | - | - | - | - | - | 25,038 | - |
Provision for uncollectible accounts | ||||||||||
2,000 | 1,000 | 1,000 | 4,000 | 2,000 | 2,000 | -298 | 2,428 | 433 | -2,042 | 994 |
Foreign currency losses (gains) | ||||||||||
- | - | - | - | 3,000 | 2,000 | 12,913 | -766 | -604 | - | - |
Other | ||||||||||
-5,000 | -9,000 | -2,000 | -8,000 | 9,000 | 8,000 | 4,002 | 9,412 | 4,629 | -622 | -573 |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
-127,000 | 74,000 | 118,000 | -128,000 | -412,000 | 132,000 | -2,069 | -22,399 | 177,744 | 83,648 | -311,613 |
Inventories | ||||||||||
-95,000 | 175,000 | 168,000 | -141,000 | -419,000 | 209,000 | -4,479 | -26,674 | 182,173 | -27,098 | -521,528 |
Other current assets | ||||||||||
-10,000 | -8,000 | -8,000 | 24,000 | -6,000 | -2,000 | 8,738 | 681 | 35 | -1,249 | -9,296 |
Income taxes payable | ||||||||||
- | - | - | - | -13,000 | 13,000 | -7,057 | -12,593 | 45,333 | -12,278 | -79,827 |
Accounts payable | ||||||||||
-79,000 | 27,000 | 93,000 | -13,000 | -198,000 | -30,000 | 117,320 | -84,380 | 36,550 | 85,074 | -193,825 |
Deferred revenue | ||||||||||
- | - | - | - | - | - | - | - | - | 1,071 | -18,322 |
Accrued expenses and other current liabilities | ||||||||||
-35,000 | -17,000 | 33,000 | -1,000 | -40,000 | 11,000 | -4,138 | 7,110 | -4,556 | 4,293 | -66,874 |
Net cash provided by (used in) operations | ||||||||||
242,000 | -11,000 | -48,000 | 253,000 | 690,000 | -106,000 | 323,588 | 240,072 | -102,897 | 112,708 | 505,492 |
Investing activities | ||||||||||
Purchases of property, plant and equipment | ||||||||||
18,000 | 20,000 | 30,000 | 33,000 | 39,000 | 20,000 | 22,068 | 26,189 | 18,056 | 14,307 | 16,698 |
Proceeds from the disposition of property, plant and equipment | ||||||||||
1,000 | 6,000 | 3,000 | 1,000 | 1,000 | 1,000 | 4,583 | 2,272 | 3,087 | 3,054 | 6,518 |
Acquisitions, net of cash acquired of $0, $0 and $4 | ||||||||||
- | - | - | - | - | 344,000 | 46,794 | 152,367 | 39,865 | 12,393 | 55,490 |
Proceeds from the disposition of non-core product lines | ||||||||||
- | - | - | 48,000 | - | - | - | - | - | - | - |
Proceeds from the sale of assets held for sale | ||||||||||
- | - | - | - | - | - | - | - | 10,594 | 4,060 | - |
Other investing activities | ||||||||||
-1,000 | - | - | - | 3,000 | -1,000 | 5,130 | 6,755 | 3,795 | -3,351 | - |
Other investment and notes receivable transactions | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,266 |
Net cash used in investing activities | ||||||||||
-16,000 | -14,000 | -27,000 | 16,000 | -41,000 | -362,000 | -69,409 | -183,039 | -48,035 | -16,235 | -66,936 |
Financing activities | ||||||||||
Proceeds from the sale of common stock | ||||||||||
- | - | - | - | - | - | - | 333,342 | - | - | - |
Payments on revolving credit facilities | ||||||||||
1,145,000 | 1,118,000 | 696,000 | 41,000 | 1,343,000 | 1,501,000 | 2,150,188 | 2,422,136 | 2,237,449 | - | - |
Proceeds from revolving credit facilities | ||||||||||
1,016,000 | 1,280,000 | 825,000 | 41,000 | 670,000 | 1,977,000 | 1,738,213 | 2,571,835 | 2,387,877 | - | - |
Proceeds from issuance of term loan | ||||||||||
- | - | - | - | - | - | 150,000 | 643,500 | - | - | - |
Net proceeds from/(payments) on revolving credit facilities | ||||||||||
- | - | - | - | - | - | - | - | - | -141,899 | -342,476 |
Purchases and redemption of senior secured notes | ||||||||||
- | - | - | - | - | - | - | 1,135,223 | - | - | - |
Proceeds from issuance of senior secured notes | ||||||||||
- | - | - | - | - | - | - | - | - | 47,897 | 975,330 |
Payments on long-term obligations | ||||||||||
4,000 | 4,000 | 18,000 | 108,000 | 258,000 | 8,000 | 6,859 | 33,081 | - | - | 997,359 |
Debt issuance costs paid | ||||||||||
- | 1,000 | 8,000 | - | 1,000 | 4,000 | 697 | 20,038 | 9,836 | 4,386 | 26,875 |
Purchase of common stock | ||||||||||
75,000 | 125,000 | 68,000 | 95,000 | 12,000 | - | - | - | - | - | 70 |
Proceeds from issuance of preferred stock, net of issuance costs | ||||||||||
- | - | - | - | 355,000 | - | - | - | - | - | - |
Dividends paid on preferred stock | ||||||||||
24,000 | 24,000 | 24,000 | 24,000 | 10,000 | - | - | - | - | - | - |
Proceeds from exercise of stock options | ||||||||||
- | 21,000 | 1,000 | 1,000 | - | 3,000 | 3,285 | 677 | 3 | - | - |
Repurchases of shares to satisfy tax withholdings | ||||||||||
6,000 | 5,000 | 3,000 | - | - | - | - | - | - | - | - |
Tax benefit on stock options | ||||||||||
- | - | - | - | - | - | 1,261 | 629 | - | - | - |
Other | ||||||||||
- | - | - | - | - | - | -6 | 3 | - | - | - |
Forfeited dividends on forfeited unvested restricted stock | ||||||||||
- | - | - | - | - | - | - | - | - | 0 | - |
Cash equity contributions | ||||||||||
- | - | - | - | - | - | - | - | - | 200 | 500 |
Dividends paid | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,900 |
Net cash (used in) provided by financing activities | ||||||||||
-238,000 | 24,000 | 9,000 | -226,000 | -599,000 | 467,000 | -264,991 | -60,492 | 140,595 | -98,188 | -393,850 |
Decrease in cash | ||||||||||
-12,000 | -1,000 | -66,000 | 43,000 | 50,000 | -1,000 | -10,812 | -3,459 | -10,337 | -1,715 | 44,706 |
Effect of foreign exchange rate on cash | ||||||||||
1,000 | -4,000 | 5,000 | -3,000 | -6,000 | 1,000 | -1,090 | -5,578 | 262 | 1,673 | -567 |
Supplemental disclosures of cash flow information: | ||||||||||
Cash paid for interest | ||||||||||
39,000 | 37,000 | 27,000 | 30,000 | 43,000 | 57,000 | 55,484 | 104,846 | 124,039 | 125,419 | 78,398 |
Cash paid for income taxes | ||||||||||
34,000 | 39,000 | 35,000 | 11,000 | 90,000 | 103,000 | 110,104 | 96,526 | -1,051 | -10,250 | 112,620 |