| 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 provided by (used in) operating activities: | |||||||||||
Net income | |||||||||||
193,814 | 223,994 | 269,659 | 153,351 | 172,413 | 182,391 | 185,413 | 151,346 | 193,173 | 144,646 | 159,409 | 124,992 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
206,483 | 191,737 | 174,062 | 143,058 | 142,192 | 148,089 | 167,644 | 165,015 | 158,801 | 142,949 | 145,265 | 143,964 |
Amortization of debt issuance costs | |||||||||||
3,463 | 3,774 | 4,259 | 4,139 | 4,156 | 4,202 | 4,556 | 4,897 | 3,837 | 2,885 | 2,044 | 1,360 |
Rationalization charges | |||||||||||
56,351 | 6,253 | 5,826 | 19,061 | 14,407 | 14,481 | 11,987 | 8,660 | 7,717 | 22,214 | 1,491 | 12,180 |
Stock compensation expense | |||||||||||
17,078 | 14,923 | 14,639 | 13,018 | 12,077 | 12,425 | 10,005 | - | - | - | - | - |
Loss on early extinguishment of debt | |||||||||||
-1,676 | -2,493 | -7,052 | 0 | 0 | -1,474 | -2,068 | -38,704 | -976 | -7,548 | -1,255 | - |
Deferred Income Tax Expense (Benefit) | |||||||||||
-20,859 | 23,740 | -114,969 | 45,011 | -13,278 | 38,756 | 7,125 | -1,499 | 23,763 | 21,358 | 15,316 | 19,597 |
Excess tax benefit from stock-based compensation | |||||||||||
- | - | - | - | - | - | 460 | 808 | 3,901 | 2,674 | 2,922 | 3,318 |
Other changes that provided (used) cash, net of effects from acquisition: | |||||||||||
Trade accounts receivable, net | |||||||||||
-3,800 | -516 | 37,107 | 10,867 | -12,287 | -3,652 | -20,387 | -34,584 | 53,091 | 19,875 | -72,059 | 49,538 |
Inventories | |||||||||||
-53 | -20,366 | 17,228 | -19,960 | 97,576 | 54,002 | -25,060 | -56,828 | 28,093 | 51,800 | 7,894 | -48,898 |
Trade accounts payable | |||||||||||
16,453 | 61,095 | 84,102 | 52,752 | 43,822 | 86,357 | 604 | -6,216 | 29,658 | 4,342 | -62,547 | 66,464 |
Accrued liabilities | |||||||||||
13,950 | 3,564 | 4,321 | -20,145 | 37,640 | -8,336 | -31,501 | -21,642 | 3,392 | -12,101 | 821 | -7,798 |
Contributions to domestic pension benefit plans | |||||||||||
- | - | - | - | - | - | - | 76,000 | 0 | 92,287 | 43,423 | 9,836 |
Other, net | |||||||||||
-15,093 | 45,935 | 4,851 | 24,787 | -7,625 | 81,245 | 52,183 | 2,207 | -23,350 | -20,110 | -41,900 | 1,559 |
Net cash used in operating activities | |||||||||||
507,355 | 506,520 | 389,765 | 394,551 | 335,765 | 348,244 | 350,705 | 351,662 | 359,582 | 187,315 | 322,774 | 345,406 |
Cash flows provided by (used in) investing activities: | |||||||||||
Purchase of business, net of cash acquired | |||||||||||
0 | 0 | 1,023,848 | 0 | 690 | 17,714 | 281,667 | 319,090 | 290,751 | 47,946 | - | 14,542 |
Capital expenditures | |||||||||||
230,944 | 190,973 | 174,429 | 191,893 | 237,302 | 140,429 | 103,136 | 119,241 | 173,009 | 105,395 | 99,584 | 122,902 |
Proceeds from asset sales | |||||||||||
- | - | - | - | 903 | 1,273 | 8,389 | 1,555 | 3,943 | 1,571 | 2,892 | 1,732 |
Other, net | |||||||||||
-854 | -1,051 | -600 | -11,555 | - | - | - | - | - | - | - | - |
Net cash used in investing activities | |||||||||||
-230,090 | -189,922 | -1,197,677 | -180,338 | -237,089 | -156,870 | -376,414 | -436,776 | -459,817 | -151,770 | -96,692 | -135,712 |
Cash flows provided by (used in) financing activities: | |||||||||||
Borrowings under revolving loans | |||||||||||
1,194,120 | 1,043,370 | 1,172,079 | 919,482 | 732,091 | 781,022 | 940,013 | 686,812 | 1,208,994 | 314,179 | 339,681 | 858,535 |
Repayments under revolving loans | |||||||||||
1,292,280 | 991,006 | 1,316,758 | 797,106 | 729,843 | 805,565 | 917,661 | 690,413 | 1,188,954 | 313,518 | 356,494 | 855,569 |
Proceeds from issuance of long-term debt | |||||||||||
400,000 | 0 | 1,789,200 | 0 | 7,538 | 733,629 | 304,981 | 526,550 | 1,088,823 | 634,386 | 243,200 | 10,838 |
Repayments of long-term debt | |||||||||||
359,432 | 286,200 | 755,037 | 67,412 | 37,304 | 754,834 | 308,257 | 285,932 | 691,427 | 520,725 | 320,695 | 94,036 |
Changes in outstanding checks - principally vendors | |||||||||||
-4,664 | -4,125 | 8,851 | -22,819 | 18,961 | -3,732 | 13,097 | -4,792 | -33,730 | 7,220 | 40,932 | -41,785 |
Dividends paid on common stock | |||||||||||
50,840 | 44,549 | 40,493 | 40,877 | 39,741 | 38,624 | 36,202 | 33,790 | 31,109 | 31,957 | 29,352 | 26,003 |
Debt issuance costs | |||||||||||
4,825 | 3,272 | 16,964 | 0 | 0 | 5,019 | 5,700 | 9,837 | 12,943 | 11,708 | 5,345 | - |
Excess tax benefit from stock-based compensation | |||||||||||
- | - | - | - | - | - | 460 | 808 | 3,901 | 2,674 | 2,922 | 3,318 |
Proceeds from stock option exercises | |||||||||||
- | - | - | - | - | - | - | 195 | 1,875 | 2,672 | 2,929 | 2,975 |
Repurchase of common stock under stock plan | |||||||||||
- | - | - | - | - | 11,457 | 2,560 | 1,871 | 5,197 | 1,471 | 1,112 | - |
Payments for Repurchase of Common Stock | |||||||||||
27,604 | 7,828 | 4,123 | 280,736 | 173,024 | 24,666 | 267,607 | 34,109 | 15,797 | 247,825 | - | 902 |
Other | |||||||||||
- | - | - | - | - | - | - | - | -2,326 | - | - | - |
Net cash provided by financing activities | |||||||||||
-145,525 | -293,610 | 836,755 | -289,468 | -221,322 | -129,246 | -279,436 | 153,621 | 322,110 | -166,073 | -83,334 | -142,629 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||
-735 | -3,702 | 0 | 0 | - | - | - | - | - | - | - | - |
Cash and cash equivalents: | |||||||||||
Net increase | |||||||||||
131,005 | 19,286 | 28,843 | -75,255 | -122,646 | 62,128 | -305,145 | 68,507 | 221,875 | -130,528 | 142,748 | 67,065 |
Interest paid, net | |||||||||||
108,798 | 118,377 | 97,595 | 65,471 | 63,954 | 69,747 | 58,010 | 59,617 | 59,077 | 53,785 | 42,025 | 60,223 |
Income taxes paid, net | |||||||||||
40,650 | 47,172 | 70,239 | 58,147 | 49,690 | 66,296 | 114,213 | 79,056 | 38,521 | 59,255 | 71,244 | 51,130 |