| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net earnings | ||||||
532,221 | 211,117 | 212,508 | 248,418 | 89,349 | 52,519 | -46,914 |
Non-cash charges (credits) to net earnings | ||||||
Depreciation and amortization | ||||||
132,887 | 105,772 | 89,660 | 80,627 | 78,225 | 98,123 | 88,476 |
Intangible asset impairment charge | ||||||
66,530 | 11,200 | 0 | 0 | - | 520 | 148,200 |
Charges resulting from the wind down of Boulder Brands United Kingdom operations | ||||||
0 | 4,265 | 0 | 0 | - | - | - |
Amortization of debt acquisition costs and discount on term loan | ||||||
4,734 | 9,554 | 6,353 | 6,507 | - | - | - |
Plant asset impairment charge | ||||||
- | - | - | - | - | - | 1,286 |
Amortization of discount on term loan | ||||||
- | - | - | - | 1,354 | 994 | 1,205 |
Amortization of debt acquisition costs | ||||||
- | - | - | - | 4,395 | 8,585 | 11,062 |
Call premium on note redemptions | ||||||
- | - | - | - | 34,180 | 14,255 | 0 |
Recognition of deferred costs related to refinancing | ||||||
28,494 | 600 | 0 | - | - | - | - |
Refinancing costs and write off of debt issuance costs | ||||||
- | - | - | 1,879 | 19,668 | 17,482 | 0 |
Amortization of deferred mark-to-market adjustment on terminated swaps | ||||||
- | - | - | - | - | 444 | 2,119 |
Change in value of financial instruments, including amounts reclassified from Accumulated Other Comprehensive Loss from settlement of hedges | ||||||
-20,949 | 12,511 | 1,942 | -12,537 | 535 | 1,185 | -1,617 |
Equity-based compensation charges | ||||||
18,728 | 14,016 | 15,122 | 35,951 | 7,933 | 850 | 1,151 |
Pension expense, net of contributions | ||||||
-2,372 | -37 | -4,700 | -9,300 | -9,131 | -10,391 | -13,543 |
Gain on sale of assets held for sale | ||||||
- | - | - | 1,541 | 3,627 | 0 | 0 |
Other long-term liabilities | ||||||
-20,723 | 0 | 0 | 1,962 | -1,872 | 2,799 | 113 |
Other long-term liabilities | ||||||
-4,680 | -3,007 | 4,506 | - | - | - | - |
Other long-term assets | ||||||
0 | 283 | 0 | 0 | - | - | -169 |
Foreign exchange losses/(gains) | ||||||
1,484 | 486 | -4,731 | -2,620 | 0 | 0 | - |
Excess tax benefits on equity-based compensation | ||||||
0 | 11,577 | 1,442 | 905 | - | - | - |
Deferred income taxes | ||||||
-305,425 | 48,182 | 115,584 | 159,537 | 67,852 | 30,929 | 20,524 |
Changes in working capital | ||||||
Accounts receivable | ||||||
-8,603 | 29,417 | 30,882 | 21,630 | 21,347 | -16,259 | 10,952 |
Inventories | ||||||
43,106 | -23,530 | 49,210 | -21,557 | -16,129 | 22,027 | 5,785 |
Accrued trade marketing expense | ||||||
11,910 | -4,771 | -10,534 | 516 | 7,290 | -9,383 | 12,111 |
Accounts payable | ||||||
26,772 | 61,016 | 15,050 | 24,910 | 4,112 | -16,333 | 38,201 |
Accrued liabilities | ||||||
-41,291 | 36,443 | -6,609 | -10,620 | -17,052 | -1,432 | -23,490 |
Other current assets | ||||||
-7,026 | -14,356 | 6,352 | 1,283 | 101 | -1,079 | -2,884 |
Net cash provided by operating activities | ||||||
415,953 | 487,504 | 372,911 | 550,710 | 262,242 | 202,853 | 204,212 |
Cash flows from investing activities | ||||||
Capital expenditures | ||||||
94,226 | 101,050 | 108,477 | 102,967 | 84,055 | 78,279 | 117,306 |
Proceeds from sale of plant assets | ||||||
1,947 | 0 | 1,618 | 2,328 | 6,853 | 570 | 7,900 |
Other investing | ||||||
37,487 | 985,365 | -1,102 | 169,373 | 575,164 | 0 | 0 |
Net cash used in investing activities | ||||||
-129,766 | -1,086,415 | -105,757 | -270,012 | -652,366 | -77,709 | -109,406 |
Cash flows from financing activities | ||||||
Proceeds from bank term loans | ||||||
2,262,000 | 547,250 | 0 | 0 | 2,142,394 | 842,625 | 0 |
Proceeds from notes offerings | ||||||
0 | 350,000 | 0 | 0 | 350,000 | 0 | 0 |
Repayments of long-term obligations | ||||||
2,491,529 | 13,741 | 8,870 | 219,967 | 1,736,146 | 632,025 | 57,547 |
Repurchase of notes | ||||||
- | - | - | - | 899,180 | 373,255 | 0 |
Proceeds from short-term borrowings | ||||||
0 | 4,452 | 4,261 | 4,757 | 5,078 | 4,294 | 3,070 |
Repayments of short-term borrowings | ||||||
4,785 | 4,259 | 4,480 | 4,799 | 4,779 | 3,863 | 2,954 |
Borrowings under revolving credit facility | ||||||
- | - | - | 65,000 | 0 | 40,000 | 0 |
Repayments of revolving credit facility | ||||||
- | - | - | 65,000 | 0 | 40,000 | 0 |
Repayment of capital lease obligations | ||||||
7,124 | 3,950 | 3,585 | 2,373 | 2,943 | 3,511 | 2,543 |
Repurchases of equity | ||||||
- | - | - | - | 191 | 878 | 1,624 |
Dividends paid | ||||||
140,738 | 122,850 | 111,758 | 101,606 | 41,664 | 0 | 0 |
Net proceeds from issuance of common stock | ||||||
15,097 | 26,436 | 1,231 | 489 | 624,953 | 0 | 558 |
Purchase of stock for treasury | ||||||
- | - | - | 32,110 | 0 | 0 | - |
Excess tax benefits on stock-based compensation | ||||||
0 | 11,577 | 1,442 | 905 | 0 | 0 | - |
Taxes paid related to net share settlement of equity awards | ||||||
10,238 | 1,087 | 2,401 | 3,061 | 0 | 0 | - |
Debt acquisition costs | ||||||
12,937 | 22,564 | 0 | 258 | 23,142 | 17,498 | 721 |
Other financing | ||||||
- | - | - | - | - | 0 | 2,730 |
Net cash used in financing activities | ||||||
-390,254 | 771,264 | -124,160 | -358,023 | 414,380 | -184,111 | -59,031 |
Effect of exchange rate changes on cash | ||||||
819 | 174 | -922 | -937 | 202 | 217 | -30 |
Net change in cash and cash equivalents | ||||||
-103,248 | 172,527 | 142,072 | -78,262 | 24,458 | -58,750 | 35,745 |
Supplemental disclosures of cash flow information: | ||||||
Interest paid | ||||||
119,501 | 109,029 | 78,926 | 88,783 | 120,310 | 179,427 | 196,339 |
Interest received | ||||||
153 | 145 | 145 | 121 | 141 | 110 | 241 |
Income taxes paid | ||||||
57,290 | 31,645 | 18,885 | 7,802 | 3,425 | 1,981 | -1,954 |
Non-cash investing and financing activities: | ||||||
New capital leases | ||||||
12,116 | 18,014 | 0 | 1,288 | 2,030 | 1,548 | 11,240 |
New short-term financing | ||||||
5,135 | 0 | 0 | - | - | - | - |
Note payable issued in connection with acquisitions | ||||||
- | - | - | 14,850 | 0 | 0 | - |
Accrued additions to plant assets | ||||||
26,508 | 27,183 | 23,878 | 25,763 | - | - | - |