| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
80,310 | 59,621 | 58,563 | -79,158 | 11,427 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
131,646 | 132,640 | 124,551 | 89,453 | 28,790 | ||
Amortization | ||||||
50,444 | 52,594 | 52,589 | 38,836 | 10,210 | ||
Amortization of inventory step-up | ||||||
0 | 1,603 | 871 | 29,086 | 0 | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | ||||||
1,600 | 0 | 0 | 6,873 | 0 | ||
Amortization of deferred financing costs and original issue discount | ||||||
5,777 | 6,119 | 8,733 | 6,859 | 3,115 | ||
Debt extinguishment costs | ||||||
3,400 | 5,627 | 61,362 | 8,561 | 0 | ||
Debt modification creditor fees capitalized | ||||||
- | - | - | - | 0 | ||
Foreign currency exchange (gain) loss | ||||||
-2,787 | -13,810 | -25,786 | 3,558 | 0 | ||
Pension and postretirement healthcare benefit expense | ||||||
3,702 | 1,073 | 3,289 | 1,957 | 2,900 | ||
Pension and postretirement healthcare benefit funding | ||||||
-9,670 | -7,602 | -7,887 | -2,887 | -14,937 | ||
Deferred income tax (benefit) provision | ||||||
18,308 | 3,445 | -140,212 | -138 | 0 | ||
Net loss on asset disposals | ||||||
13,068 | -6,574 | -5,793 | -4,216 | -3,911 | ||
Supplemental pension plan mark-to-market gain | ||||||
- | - | - | - | 0 | ||
Stock compensation | ||||||
18,225 | 19,464 | 8,799 | 5,432 | 2,256 | ||
Equity in net income from affiliated companies | ||||||
46,034 | 37,611 | 38,772 | -2,612 | 0 | ||
Dividends received from affiliated companies | ||||||
40,123 | 40,195 | 44,071 | 7,636 | 0 | ||
Net interest income on swaps designated as net investment hedges | ||||||
8,480 | 4,859 | 0 | 0 | - | ||
Gain on contract termination | ||||||
0 | 20,612 | 0 | 0 | - | ||
Other, net | ||||||
-6,330 | -1,517 | -4,061 | -7,091 | 4,740 | ||
Working capital changes that provided (used) cash, excluding the effect of acquisitions and dispositions: | ||||||
Receivables | ||||||
-14,538 | 10,451 | 11,463 | -27,757 | 280 | ||
Inventories | ||||||
18,943 | 8,980 | 21,200 | 2,305 | 1,738 | ||
Prepaids and other current assets | ||||||
-1,256 | 6,348 | 3,434 | -548 | -20,096 | ||
Accounts payable | ||||||
-2,308 | -146 | 4,343 | 11,885 | -2,486 | ||
Accrued liabilities | ||||||
480 | 4,005 | -6,548 | -23,866 | -13,809 | ||
Net cash provided by operating activities | ||||||
267,763 | 248,644 | 165,173 | 122,708 | 44,715 | ||
Cash flows from investing activities: | ||||||
Purchases of property, plant and equipment | ||||||
127,642 | 131,688 | 140,482 | 121,421 | 40,994 | ||
Investment in affiliated companies | ||||||
0 | 5,000 | 9,000 | 0 | 0 | ||
Change in restricted cash, net | ||||||
- | - | - | - | 0 | ||
Loan receivable under the New Markets Tax Credit Arrangement | ||||||
0 | 0 | 6,221 | 15,598 | 0 | ||
Payments to Acquire Businesses, Net of Cash Acquired | ||||||
0 | 1,006 | 41,572 | 1,777,740 | -3,965 | ||
Proceeds from Sale of Property, Plant, and Equipment | ||||||
17,600 | 12,380 | 0 | 0 | - | ||
Proceeds from sale of assets | ||||||
27,658 | 0 | 0 | - | - | ||
Proceeds from settlement of swaps designated as net investment hedges | ||||||
38,070 | 0 | 0 | - | - | ||
Net interest proceeds on swaps designated as net investment hedges | ||||||
-8,480 | -4,859 | 0 | 0 | - | ||
Other, net | ||||||
-475 | -1,165 | -1,293 | 1,004 | 1,696 | ||
Net cash used in investing activities | ||||||
-35,359 | -119,290 | -195,982 | -1,915,763 | -38,725 | ||
Cash flows from financing activities: | ||||||
Draw down of revolving credit facilities | ||||||
203,542 | 141,764 | 357,773 | 145,000 | 12,000 | ||
Repayments of revolving credit facilities | ||||||
202,802 | 166,778 | 334,180 | 167,000 | 12,000 | ||
Issuance of long-term debt under the New Market Tax Credit arrangement | ||||||
- | - | - | - | 0 | ||
Issuance of long-term debt | ||||||
0 | 1,267,000 | 308,550 | 1,248,556 | 0 | ||
Issuance of long-term notes, net of original issue discount and financing fees | ||||||
- | - | - | 1,133,265 | 0 | ||
Debt issuance costs | ||||||
0 | 6,395 | 4,666 | 23,786 | 0 | ||
Repayments of long-term debt | ||||||
216,659 | 1,369,690 | 739,472 | 479,059 | 5,000 | ||
Payment for Debt Extinguishment or Debt Prepayment Cost | ||||||
0 | 0 | 47,875 | 0 | - | ||
IPO proceeds | ||||||
0 | 0 | 507,500 | 0 | 0 | ||
IPO costs | ||||||
0 | 0 | 26,804 | 0 | 0 | ||
Interest hedge premium | ||||||
- | - | - | 1,551 | 0 | ||
Equity contribution | ||||||
- | - | - | 6,600 | 1,538 | ||
Stock repurchases | ||||||
3,563 | 2,920 | 0 | 2,540 | 0 | ||
Distributions to noncontrolling interests | ||||||
- | - | - | 1,040 | 0 | ||
Proceeds from stock options exercised | ||||||
3,975 | 131 | 0 | - | - | ||
Other, net | ||||||
-586 | -337 | -993 | 0 | - | ||
Net cash provided by (used in) financing activities | ||||||
-216,093 | -137,225 | 19,833 | 1,858,445 | -3,462 | ||
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||
-2,120 | 354 | -6,858 | -5,886 | 0 | ||
Net change in cash, cash equivalents and restricted cash | ||||||
14,191 | -7,517 | -17,834 | 59,504 | 2,528 | ||