| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
369,771 | 447,558 | 546,847 | 177,305 | 234,934 | 178,806 | 152,588 | 155,434 | 146,232 | 127,001 | 123,093 | 97,216 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Loss from discontinued operations, net of tax | |||||||||||
- | - | - | - | -390 | 2,186 | 406 | 262 | - | - | - | -362 |
Loss on early extinguishment of debt, net | |||||||||||
-16,637 | -10,131 | -274 | -22,503 | -6,918 | -29,158 | 468 | -22,706 | -3,509 | -9,400 | 3,146 | - |
Premiums paid on early extinguishment of debt | |||||||||||
- | - | - | - | 6,549 | 24,804 | 0 | 0 | - | - | - | - |
Depreciation and amortization | |||||||||||
151,000 | 153,700 | 153,100 | 147,233 | 141,456 | 140,002 | 122,235 | 119,862 | 118,047 | 116,391 | 111,102 | 114,157 |
Amortization of intangibles | |||||||||||
25,649 | 26,195 | 27,650 | 30,956 | 31,459 | 36,640 | 21,859 | 23,853 | 25,591 | 25,197 | 21,698 | 23,636 |
Amortization of cemetery property | |||||||||||
70,330 | 68,640 | 68,102 | 66,745 | 62,407 | 60,439 | 48,344 | 44,976 | 40,046 | 32,418 | 30,664 | 32,690 |
Amortization of loan costs | |||||||||||
5,681 | 6,059 | 5,859 | 5,826 | 9,434 | 8,825 | 15,943 | 4,905 | 4,436 | 4,266 | 7,575 | 3,573 |
Provision for expected credit losses | |||||||||||
9,146 | 8,372 | 9,980 | 10,776 | 6,083 | 7,376 | 7,874 | 9,705 | 9,251 | 8,155 | 11,351 | 9,243 |
Provision for deferred income taxes | |||||||||||
23,030 | -41,479 | -317,838 | 7,490 | 18,048 | 129,671 | 71,708 | 71,685 | 66,512 | 76,934 | 57,866 | 109,118 |
(Gains) losses on divestitures and impairment charges, net | |||||||||||
-32,919 | -15,933 | -7,015 | 26,819 | -6,522 | -116,613 | 6,263 | 1,511 | 10,977 | -8,512 | -4,253 | 36,124 |
Gain (Loss) on Sale of Investments | |||||||||||
0 | -2,636 | 0 | 0 | - | - | - | - | - | - | - | - |
Share-based compensation | |||||||||||
15,029 | 15,626 | 14,788 | 14,056 | 13,843 | 13,127 | 11,925 | 10,983 | 9,144 | 8,878 | 9,684 | 9,970 |
Excess tax benefits from share-based awards | |||||||||||
- | - | - | 12,685 | 18,123 | 30,123 | 0 | 0 | - | - | - | - |
Change in assets and liabilities, net of effects from acquisitions and divestitures: | |||||||||||
Decrease (increase) in receivables | |||||||||||
-12,711 | -8,052 | 9,740 | 14,198 | -464 | 18,644 | -11,017 | 9,782 | 7,840 | 14,561 | 8,245 | 409 |
Decrease (increase) in other assets | |||||||||||
-23,018 | 4,814 | 14,353 | -22,771 | -2,457 | 11,013 | 14,815 | 6,901 | -6,815 | -2,603 | -11,161 | -26,100 |
(Decrease) increase in payables and other liabilities | |||||||||||
1,788 | -16,699 | 81,763 | 47,888 | 20,567 | -12,038 | -1,995 | 26,360 | 14,610 | 16,374 | 30,899 | -143,956 |
Decrease (increase) in preneed receivables, net and trust investments | |||||||||||
-16,144 | 55,607 | 63,994 | 73,394 | 48,120 | -30,357 | -47,648 | -37,341 | -74,206 | -45,988 | -18,963 | -7,271 |
Increase in deferred revenue, net | |||||||||||
67,792 | -28,005 | -31,182 | -34,775 | -67,159 | 23,069 | 9,260 | 41,228 | 32,158 | 14,778 | -92 | -23,785 |
Decrease in deferred receipts held in trust | |||||||||||
-42,306 | 19,290 | 23,274 | 25,831 | 64,119 | 52,869 | 50,990 | 22,357 | 50,591 | 36,322 | 22,558 | 23,334 |
Increase in preneed cemetery receivables, net and trust investments | |||||||||||
- | - | - | - | - | 43,964 | 73,626 | 96,837 | 65,581 | 53,224 | 41,427 | -36,333 |
Increase in deferred preneed cemetery revenue | |||||||||||
- | - | - | - | - | -54,049 | -30,785 | -20,817 | -23,636 | -10,558 | -24,999 | -11,408 |
Increase in deferred preneed cemetery receipts held in trust | |||||||||||
- | - | - | - | - | 34,664 | 12,761 | 587 | 9,419 | 648 | 11,702 | 22,388 |
Other | |||||||||||
- | - | - | - | - | 108 | 27 | 3,684 | -689 | 1,739 | -4,254 | 585 |
Net cash provided by operating activities from continuing operations | |||||||||||
- | - | - | - | - | 318,355 | 383,841 | 368,500 | - | - | - | - |
Net cash used in operating activities from discontinued operations | |||||||||||
- | - | - | - | - | -1,000 | 868 | 746 | - | - | - | - |
Net cash provided by operating activities | |||||||||||
628,755 | 615,830 | 503,372 | 489,035 | 472,186 | 317,355 | 384,709 | 369,246 | 388,112 | 354,379 | 372,070 | 350,314 |
Cash flows from investing activities: | |||||||||||
Capital expenditures | |||||||||||
239,957 | 235,545 | 214,501 | 193,446 | 150,986 | 144,499 | 112,939 | 115,322 | 118,375 | 97,899 | 83,790 | 154,101 |
Business acquisitions, net of cash acquired | |||||||||||
55,644 | 176,252 | 64,652 | 72,859 | 41,258 | 15,336 | 1,057,122 | 65,463 | 99,570 | 299,083 | 84,932 | 8,828 |
Payments for (Proceeds from) Deposits on Real Estate Acquisitions | |||||||||||
-51,373 | -18,572 | -11,519 | - | - | - | - | - | - | - | - | - |
Proceeds from divestitures and sales of property and equipment | |||||||||||
77,074 | 37,309 | 52,381 | 51,813 | 16,772 | 424,383 | 13,219 | 9,995 | 24,529 | 90,835 | 32,696 | 32,543 |
Payments for (Proceeds from) Other Investing Activities | |||||||||||
-415 | 14,525 | -175 | 0 | - | - | - | - | - | - | - | - |
Proceeds from Sale, Maturity and Collection of Investments | |||||||||||
0 | 2,900 | 0 | 0 | - | - | - | - | - | - | - | - |
Payment to Acquire Life Insurance Policy, Investing Activities | |||||||||||
9,026 | 14,760 | 7,360 | 9,050 | - | - | - | - | - | - | - | - |
Proceeds from Life Insurance Policy | |||||||||||
0 | 4,824 | 2,592 | 2,517 | - | - | - | - | - | - | - | - |
Net withdrawals of restricted funds and other | |||||||||||
- | - | - | - | -8,066 | 12,225 | -341 | 3,815 | -3,159 | -26,437 | 16,459 | 21,741 |
Net cash used in investing activities from continuing operations | |||||||||||
- | - | - | - | -167,406 | 252,323 | -1,156,501 | -174,605 | - | - | - | -152,127 |
Net cash provided by investing activities from discontinued operations | |||||||||||
- | - | - | - | 987 | 4,963 | -292 | -349 | - | - | - | 858 |
Net cash used in investing activities | |||||||||||
-278,511 | -414,621 | -242,884 | -221,025 | -166,419 | 257,286 | -1,156,793 | -174,954 | -190,257 | -279,710 | -152,485 | -151,269 |
Cash flows from financing activities | |||||||||||
Proceeds from issuance of long-term debt | |||||||||||
1,149,263 | 396,349 | 1,787,500 | 1,060,000 | 446,250 | 755,000 | 1,055,000 | 227,507 | 85,000 | 510,000 | 150,000 | 82,133 |
Early payments of debt | |||||||||||
1,164,978 | 259,590 | 1,117,512 | 895,634 | 197,377 | 762,764 | 80 | 202,140 | 43,194 | 119,105 | 236,114 | - |
Repayments of Unsecured Debt | |||||||||||
25,471 | 34,134 | 468,973 | 36,414 | 160,220 | 230,561 | 90,466 | 607 | 22,774 | 263,063 | 33,058 | 112,302 |
Debt issuance costs | |||||||||||
15,539 | 0 | 12,939 | 5,232 | 6,025 | 10,500 | 36,064 | 4,500 | 0 | 11,828 | 8,146 | - |
Repayments of Debt | |||||||||||
1,164,978 | 259,590 | 1,117,512 | 895,634 | 197,377 | - | - | - | - | - | - | - |
Principal payments on finance leases | |||||||||||
42,627 | 39,686 | 51,106 | 33,119 | 28,601 | 29,380 | 26,280 | 25,760 | 23,030 | 46,214 | 24,288 | 25,851 |
Proceeds from exercise of stock options | |||||||||||
40,922 | 24,517 | 33,611 | 17,662 | 31,809 | 32,376 | 6,309 | 18,389 | 8,227 | 1,759 | 17,407 | 14,812 |
Excess tax benefits from share-based awards | |||||||||||
- | - | - | 12,685 | 18,123 | 30,123 | 0 | 0 | - | - | - | - |
Purchase of Company common stock | |||||||||||
129,589 | 277,611 | 199,637 | 227,928 | 345,261 | 242,874 | 1,708 | 186,766 | 197,302 | 116,878 | 0 | 142,155 |
Payments of dividends | |||||||||||
131,402 | 123,849 | 108,750 | 98,418 | 87,570 | 71,517 | 57,229 | 60,296 | 44,795 | 40,001 | 40,195 | 41,501 |
Purchase of noncontrolling interest | |||||||||||
0 | 0 | 4,580 | 1,961 | 2,075 | 15,000 | 23,333 | 3,000 | 0 | 0 | - | - |
PaymentsToAcquireBusinessesIncludiing1031ExchangeFunds | |||||||||||
107,000 | 62,800 | 76,200 | 72,900 | - | - | - | - | - | - | - | - |
Bank overdrafts and other | |||||||||||
328 | -15,177 | 5,959 | -1,095 | -7,531 | 7,130 | 336 | 6,199 | -798 | -2,856 | -4,036 | -5,779 |
Net cash (used in) provided by financing activities from continued operations | |||||||||||
- | - | - | - | - | - | 826,485 | -230,974 | - | - | - | - |
Net cash used in financing activities from discontinued operations | |||||||||||
- | - | - | - | - | - | -1,370 | -538 | - | - | - | - |
Net cash (used in) provided by financing activities | |||||||||||
-319,093 | -329,181 | -136,427 | -209,454 | -338,478 | -537,967 | 825,115 | -231,512 | -238,666 | -88,186 | -178,430 | -230,643 |
Change in cash from discontinued operations | |||||||||||
- | - | - | - | - | 1,361 | 785 | 1,049 | - | - | - | - |
Effect of foreign currency | |||||||||||
3,885 | -5,045 | 5,034 | 1,857 | -10,025 | -2,284 | -1,001 | 1,287 | -1,466 | 4,618 | 10,193 | -8,599 |
Net decrease in cash, cash equivalents, and restricted cash | |||||||||||
35,036 | -133,017 | 129,095 | 60,413 | -42,736 | 35,751 | 52,815 | -34,884 | -42,277 | -8,899 | 51,348 | -40,197 |