| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||
Net income (loss) | |||||||||||
564,000 | -86,000 | 235,000 | 274,000 | -174,000 | 195,000 | 447,000 | 481,000 | -191,000 | 270,000 | -30,000 | 227,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Loss from discontinued operations | |||||||||||
-50,000 | -52,000 | -5,000 | -13,000 | -24,000 | 10,000 | -9,000 | 6,000 | -93,000 | -10,000 | -115,000 | -21,000 |
Depreciation and amortization | |||||||||||
333,000 | 330,000 | 354,000 | 344,000 | 308,000 | 284,000 | 208,000 | 166,000 | 128,000 | 114,000 | 122,000 | 114,000 |
Stock-based compensation expense | |||||||||||
107,000 | 72,000 | 77,000 | 61,000 | 42,000 | 31,000 | 41,000 | 49,000 | 33,000 | 21,000 | 12,000 | 41,000 |
Excess tax benefit from stock-based compensation | |||||||||||
- | - | - | - | - | - | - | - | 1,000 | 0 | 0 | 2,000 |
Deferred income taxes | |||||||||||
-355,000 | 14,000 | 173,000 | 10,000 | 24,000 | -125,000 | 3,000 | 144,000 | -130,000 | -32,000 | -67,000 | 10,000 |
Loss on divestiture | |||||||||||
- | - | - | -2,000 | 0 | 0 | - | - | - | - | - | - |
Goodwill and Long-Lived Intangible Asset Impairment | |||||||||||
2,000 | 239,000 | 1,000 | 2,000 | 63,000 | 16,000 | 0 | 7,000 | 0 | 14,000 | 39,000 | - |
Gain on sale of property, plant and equipment | |||||||||||
6,000 | 2,000 | 3,000 | 0 | 2,000 | 5,000 | 14,000 | 10,000 | 5,000 | 10,000 | 12,000 | 30,000 |
Changes in assets and liabilities: | |||||||||||
Receivables | |||||||||||
144,000 | 155,000 | -29,000 | 89,000 | -28,000 | 104,000 | 136,000 | 53,000 | 57,000 | 15,000 | -22,000 | -249,000 |
Inventories | |||||||||||
-5,000 | 70,000 | 68,000 | 86,000 | 46,000 | -77,000 | -10,000 | 42,000 | -4,000 | 39,000 | -15,000 | -25,000 |
Current payables and accrued expenses | |||||||||||
-20,000 | 198,000 | -78,000 | 216,000 | 8,000 | 70,000 | 21,000 | 86,000 | 50,000 | -13,000 | -36,000 | -56,000 |
Deferred service revenue and customer deposits | |||||||||||
31,000 | -13,000 | 10,000 | 88,000 | 19,000 | 1,000 | 36,000 | 31,000 | 34,000 | 34,000 | 18,000 | 42,000 |
Employee benefit plans | |||||||||||
59,000 | -60,000 | -4,000 | 33,000 | 384,000 | 105,000 | -397,000 | -994,000 | 452,000 | -69,000 | 49,000 | -43,000 |
Other assets and liabilities | |||||||||||
-2,000 | -53,000 | -21,000 | -28,000 | -3,000 | 11,000 | -53,000 | 39,000 | 22,000 | 6,000 | -42,000 | 74,000 |
Net cash provided by operating activities | |||||||||||
628,000 | 572,000 | 752,000 | 896,000 | 681,000 | 524,000 | 281,000 | -180,000 | 388,000 | 279,000 | 289,000 | 440,000 |
Investing activities | |||||||||||
Grant reimbursements from capital expenditures | |||||||||||
- | - | - | - | - | - | - | - | - | 5,000 | 9,000 | - |
Expenditures for property, plant and equipment | |||||||||||
91,000 | 143,000 | 128,000 | 73,000 | 79,000 | 118,000 | 116,000 | 80,000 | 61,000 | 74,000 | 52,000 | 75,000 |
Proceeds from sale of property, plant and equipment | |||||||||||
11,000 | 3,000 | 6,000 | 0 | 19,000 | 1,000 | 10,000 | 8,000 | 2,000 | 39,000 | 11,000 | 59,000 |
Additions to capitalized software | |||||||||||
238,000 | 170,000 | 166,000 | 154,000 | 150,000 | 140,000 | 110,000 | 80,000 | 62,000 | 57,000 | - | 63,000 |
Business acquisitions, net | |||||||||||
203,000 | 206,000 | 8,000 | 0 | 0 | 1,647,000 | 780,000 | 108,000 | 1,085,000 | 0 | 0 | - |
Net change in funds held for clients - investing | |||||||||||
-15,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Changes in restricted cash | |||||||||||
- | - | - | - | - | -1,114,000 | 1,114,000 | 0 | 0 | - | - | - |
Proceeds from divestiture | |||||||||||
- | - | - | 47,000 | 0 | 0 | - | - | - | - | - | - |
Other investing activities, net | |||||||||||
-9,000 | 4,000 | -6,000 | 9,000 | -1,000 | -2,000 | -5,000 | -4,000 | 0 | 24,000 | 41,000 | 65,000 |
Series A convertible preferred stock issuance, net of issuance costs of $26 million | |||||||||||
- | - | - | - | 794,000 | 0 | 0 | - | - | - | - | - |
Payments for tender offer share repurchase | |||||||||||
- | - | - | - | 1,005,000 | 0 | - | - | - | - | - | - |
Net cash used in investing activities | |||||||||||
-527,000 | -520,000 | -290,000 | -189,000 | -209,000 | -788,000 | -2,105,000 | -256,000 | -1,206,000 | -111,000 | -134,000 | -144,000 |
Financing activities | |||||||||||
Short term borrowings, net | |||||||||||
0 | -1,000 | -4,000 | -8,000 | 8,000 | 0 | -1,000 | 0 | 0 | 4,000 | 4,000 | - |
Payments on term credit facilities | |||||||||||
761,000 | 51,000 | 61,000 | 97,000 | 383,000 | 37,000 | 35,000 | 0 | 0 | - | - | - |
Payments on revolving credit facilities | |||||||||||
3,216,000 | 2,233,000 | 1,940,000 | 1,431,000 | 1,694,000 | 1,050,000 | 1,009,000 | 860,000 | 260,000 | 75,000 | 30,000 | - |
Repayment of long-term debt | |||||||||||
- | - | - | - | - | - | - | - | - | 1,000 | 0 | - |
Repayments of Unsecured Debt | |||||||||||
900,000 | 0 | 0 | - | - | - | - | - | - | - | 300,000 | - |
Proceeds from Issuance of Secured Debt | |||||||||||
750,000 | 0 | 0 | - | - | 250,000 | 329,000 | 150,000 | 700,000 | 0 | 0 | - |
Borrowings on revolving credit facilities | |||||||||||
3,535,000 | 2,453,000 | 1,940,000 | 1,331,000 | 1,698,000 | 1,146,000 | 1,009,000 | 720,000 | 400,000 | 75,000 | 30,000 | - |
Proceeds from Issuance of Unsecured Debt | |||||||||||
1,000,000 | 0 | 0 | - | - | - | 1,100,000 | 1,100,000 | 0 | 0 | - | - |
Payments of Debt Issuance Costs | |||||||||||
32,000 | 0 | 0 | 9,000 | 0 | 5,000 | 36,000 | 19,000 | 29,000 | 0 | 0 | - |
Repurchase of Series A Convertible Preferred Stock | |||||||||||
302,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Repurchases of Common Stock | |||||||||||
96,000 | 210,000 | 350,000 | 250,000 | 0 | 0 | 0 | - | 70,000 | 20,000 | 1,000 | 494,000 |
Excess tax benefit from stock-based compensation | |||||||||||
- | - | - | - | - | - | - | - | 1,000 | 0 | 0 | 2,000 |
Proceeds from employee stock plans | |||||||||||
16,000 | 20,000 | 15,000 | 15,000 | 15,000 | 13,000 | 57,000 | 53,000 | 18,000 | 11,000 | 9,000 | 17,000 |
Tax withholding payments on behalf of employees | |||||||||||
29,000 | 36,000 | 31,000 | 16,000 | 16,000 | 28,000 | 30,000 | 12,000 | 0 | 0 | - | - |
Increase (Decrease) in Client Funds Held | |||||||||||
-15,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Payments for Repurchase of Redeemable Noncontrolling Interest | |||||||||||
3,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from sale of noncontrolling interest | |||||||||||
- | - | - | - | - | - | - | - | 43,000 | 0 | 0 | - |
Purchase of noncontrolling interest | |||||||||||
- | - | - | - | - | - | 24,000 | 0 | 0 | - | - | - |
Proceeds from (Payments for) Other Financing Activities | |||||||||||
-8,000 | 0 | -3,000 | -2,000 | 0 | -5,000 | -3,000 | -1,000 | - | - | - | - |
Net cash used in financing activities | |||||||||||
-31,000 | -58,000 | -434,000 | -467,000 | -583,000 | 284,000 | 1,357,000 | 1,131,000 | 802,000 | -14,000 | -288,000 | -475,000 |
Dividend distribution to minority shareholder | |||||||||||
- | - | - | - | - | - | - | - | 1,000 | 0 | 0 | - |
Cash flows from discontinued operations | |||||||||||
Net cash provided by (used in) operating activities | |||||||||||
-24,000 | -36,000 | -8,000 | -39,000 | -43,000 | -1,000 | -52,000 | -114,000 | -37,000 | -16,000 | -66,000 | -44,000 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | |||||||||||
-6,000 | -25,000 | 16,000 | -29,000 | -29,000 | -36,000 | -22,000 | -9,000 | -5,000 | 7,000 | 8,000 | -18,000 |
Increase (decrease) in cash, cash equivalents, and restricted cash | |||||||||||
40,000 | -67,000 | 36,000 | 172,000 | -183,000 | -17,000 | -541,000 | 671,000 | -98,000 | 45,000 | -260,000 | -241,000 |
Cash Provided by (Used in) Investing Activities, Discontinued Operations | |||||||||||
- | - | - | - | - | - | - | 99,000 | -40,000 | -100,000 | -69,000 | - |
Net Cash Provided by (Used in) Discontinued Operations | |||||||||||
- | - | - | - | - | - | - | -15,000 | -77,000 | -116,000 | -135,000 | - |
Supplemental data | |||||||||||
Income Taxes Paid, Net | |||||||||||
61,000 | 106,000 | 98,000 | 66,000 | 60,000 | 75,000 | 70,000 | 32,000 | 55,000 | 34,000 | 49,000 | 108,000 |
Interest Paid, Excluding Capitalized Interest, Operating Activities | |||||||||||
168,000 | 160,000 | 159,000 | 155,000 | 163,000 | 170,000 | 71,000 | 15,000 | 5,000 | 2,000 | 10,000 | 22,000 |