| 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 | |||||||||||
706,100 | 641,800 | 621,000 | 309,100 | 316,200 | 376,300 | 324,700 | 408,300 | 349,200 | 197,900 | 149,200 | 483,635 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization expense | |||||||||||
219,300 | 215,200 | 218,400 | 222,000 | 218,500 | 213,800 | 192,400 | 149,000 | 133,100 | 120,600 | 118,900 | 97,924 |
Impairment of long-lived assets | |||||||||||
1,200 | 37,000 | 4,200 | 52,400 | 53,300 | - | 14,900 | 2,500 | 0 | - | - | - |
Provision for uncollectible accounts | |||||||||||
3,400 | 7,400 | 6,700 | 5,200 | - | - | - | - | - | - | - | - |
Deferred income tax benefit | |||||||||||
32,500 | -9,100 | -192,600 | -500 | -17,100 | -18,200 | 3,100 | 2,800 | -27,200 | 42,700 | 58,000 | 22,720 |
Gain on sales of property, plant and equipment | |||||||||||
1,000 | 18,800 | 9,500 | 1,200 | 2,200 | 12,900 | -700 | 2,900 | 2,600 | -1,100 | -100 | -2,658 |
Equity in earnings of unconsolidated entities | |||||||||||
- | - | - | - | - | - | - | 2,200 | 2,200 | 700 | 1,400 | -565 |
Dividend received from unconsolidated entity | |||||||||||
- | - | - | - | - | - | - | 2,900 | 3,900 | 300 | 1,100 | - |
Stock-based compensation expense | |||||||||||
51,200 | 45,500 | 33,400 | 24,400 | 21,300 | 22,800 | 26,000 | 23,000 | 21,300 | 17,300 | 15,500 | 13,189 |
Tax deficit from share-based compensation | |||||||||||
- | - | - | - | - | - | - | - | - | 4,000 | 1,500 | 9,693 |
Net gain from life insurance policies | |||||||||||
- | - | - | - | - | - | - | - | - | -4,200 | 10,500 | 4,373 |
Other | |||||||||||
-9,500 | -12,300 | -7,700 | -7,700 | -9,800 | 4,900 | -1,200 | -4,400 | -5,800 | - | - | - |
Changes in operating assets and liabilities (excluding effect of businesses acquired): | |||||||||||
Accounts receivable | |||||||||||
-178,100 | 153,300 | 126,400 | 36,400 | -222,500 | 97,200 | -25,400 | -123,100 | 145,900 | 146,700 | -322,200 | -166,025 |
Inventories | |||||||||||
-211,800 | 88,800 | 186,600 | 30,400 | -306,800 | 131,000 | -111,900 | 1,300 | 231,000 | 121,900 | -569,900 | -191,472 |
Prepaid expenses and other assets | |||||||||||
-31,900 | 14,000 | 11,500 | -26,700 | 25,200 | -31,500 | 17,300 | 18,900 | -22,800 | -23,900 | 56,400 | 9,121 |
Accounts payable and other liabilities | |||||||||||
-142,500 | -10,600 | 34,200 | 47,500 | -78,900 | -24,200 | -49,700 | -88,800 | 107,600 | 79,400 | -222,100 | -297,933 |
Net cash provided by operating activities | |||||||||||
1,301,500 | 664,600 | 399,000 | 626,500 | 1,025,000 | 356,000 | 633,300 | 601,900 | 234,800 | 214,100 | 943,000 | 664,684 |
Investing activities: | |||||||||||
Purchases of property, plant and equipment | |||||||||||
242,200 | 239,900 | 161,600 | 154,900 | 172,200 | 190,400 | 168,000 | 214,000 | 156,400 | 111,400 | 69,900 | 151,890 |
Acquisitions, net of cash acquired | |||||||||||
177,800 | 77,600 | 37,800 | 348,700 | 400 | 208,200 | 821,100 | 166,900 | 313,300 | 100,300 | - | 330,249 |
Proceeds from sales of property, plant and equipment | |||||||||||
8,000 | 29,200 | 27,600 | 8,900 | 7,400 | 26,200 | 11,900 | 8,200 | 9,000 | 3,200 | 1,300 | 19,116 |
Other | |||||||||||
7,100 | -7,300 | 7,600 | 10,400 | 4,700 | -7,400 | 1,800 | 9,000 | 8,500 | - | - | - |
Net investment in life insurance policies | |||||||||||
- | - | - | - | - | - | - | - | 9,000 | -42,400 | 31,500 | -4,890 |
Net proceeds from redemption of life insurance policies | |||||||||||
- | - | - | - | - | - | - | - | 3,600 | 4,300 | 6,500 | 1,634 |
Tax distributions made related to prior acquisitions | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,155 |
Net cash used in investing activities | |||||||||||
-419,100 | -281,000 | -179,400 | -505,100 | -169,900 | -365,000 | -979,000 | -381,700 | -474,600 | -161,800 | -93,600 | -457,654 |
Financing activities: | |||||||||||
Net short-term debt (repayments) borrowings | |||||||||||
-300 | -48,400 | 8,400 | -12,600 | 12,700 | 1,700 | -473,000 | -63,200 | -104,700 | 3,200 | 100 | -5,962 |
Proceeds from long-term debt borrowings | |||||||||||
971,000 | 1,518,700 | 875,000 | 2,073,000 | 573,000 | 719,000 | 2,297,900 | 641,000 | 995,000 | 539,000 | 352,000 | 1,684,000 |
Principal payments on long-term debt | |||||||||||
1,588,600 | 1,192,200 | 915,300 | 2,061,400 | 962,300 | 552,200 | 1,454,500 | 763,000 | 606,600 | 560,600 | 1,183,300 | 1,788,949 |
Debt issuance costs | |||||||||||
- | - | - | - | - | - | 10,300 | - | 7,300 | - | 6,700 | 3,313 |
Dividends and dividend equivalents paid | |||||||||||
151,300 | 145,300 | 132,000 | 120,400 | 120,100 | 108,700 | 96,900 | 60,200 | 35,900 | 29,700 | 29,400 | 29,229 |
Payment to noncontrolling interest holder | |||||||||||
- | - | - | - | - | - | - | - | 3,700 | 1,800 | 2,100 | 1,225 |
Capital contributions from noncontrolling interests | |||||||||||
- | - | - | - | - | - | - | - | - | 200 | - | - |
Issuance of common stock | |||||||||||
- | - | - | - | - | - | - | - | - | - | 300 | 284 |
Excess benefit (tax deficit) from share-based compensation | |||||||||||
- | - | - | - | - | - | - | - | -300 | 4,000 | 1,500 | 9,693 |
Exercise of stock options | |||||||||||
- | - | - | 37,500 | 15,100 | 28,800 | 70,100 | 42,100 | 11,100 | 21,200 | 10,500 | 17,987 |
Share repurchases | |||||||||||
50,000 | 484,900 | 25,000 | - | 355,500 | 50,000 | - | - | - | - | - | 114,774 |
Noncontrolling interest purchased | |||||||||||
400 | 29,000 | - | - | - | - | - | - | - | - | 2,700 | 0 |
Other | |||||||||||
-21,000 | -22,800 | -9,200 | -16,300 | -11,400 | -5,600 | -1,200 | -4,300 | - | - | - | - |
Net cash used in financing activities | |||||||||||
-840,600 | -403,900 | -198,100 | -100,200 | -848,500 | 33,000 | 332,100 | -207,600 | 247,600 | -24,500 | -859,800 | -231,488 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||
4,300 | -5,900 | 10,100 | -2,700 | -8,500 | -1,400 | -400 | 400 | 3,900 | 2,100 | 1,400 | -570 |
(Decrease) increase in cash and cash equivalents | |||||||||||
46,100 | -26,200 | 31,600 | 18,500 | -1,900 | 22,600 | -14,000 | 13,000 | 11,700 | 29,900 | -9,000 | -25,028 |
Supplemental cash flow information: | |||||||||||
Interest paid during the period | |||||||||||
83,000 | 84,000 | 72,500 | 81,400 | 82,000 | 82,400 | 74,200 | 58,700 | 57,400 | 62,200 | 76,100 | 74,654 |
Income taxes paid during the period, net | |||||||||||
214,300 | 228,500 | 171,100 | 95,100 | 204,900 | 134,200 | 161,400 | 245,700 | 149,200 | 68,900 | 49,100 | 267,224 |
Non-cash investing and financing activities: | |||||||||||
Debt assumed in connection with acquisitions | |||||||||||
- | 25,900 | - | 6,100 | - | 39,200 | 529,900 | 59,400 | 104,700 | 22,600 | - | 780,043 |