| 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 earnings | |||||||||||
711,200 | 696,200 | 572,200 | 559,600 | 490,600 | 432,100 | 359,700 | 314,600 | 283,800 | 193,000 | 143,700 | 243,600 |
Adjustments to reconcile net earnings to net cash provided (used) by operating activities: | |||||||||||
Depreciation | |||||||||||
70,100 | 68,800 | 65,600 | 61,400 | 57,800 | 54,800 | 51,200 | 50,200 | 49,300 | 48,700 | 49,900 | 47,900 |
Amortization of other intangibles | |||||||||||
22,300 | 25,300 | 27,600 | 24,200 | 24,700 | 24,700 | 25,500 | 26,500 | 25,300 | 24,000 | 24,700 | 24,100 |
Provision for losses on finance receivables | |||||||||||
49,900 | 57,500 | 54,600 | 44,000 | 31,600 | 27,400 | 20,400 | 18,700 | 13,300 | -13,900 | -6,200 | 0 |
Provision for losses on non-finance receivables | |||||||||||
18,300 | 12,800 | 10,500 | 7,500 | 13,600 | 14,300 | 10,400 | 12,600 | 12,900 | 20,500 | - | 0 |
Stock-based compensation expense | |||||||||||
23,800 | 27,200 | 30,300 | 31,000 | 39,800 | 38,100 | 38,500 | 32,100 | 20,300 | 14,900 | -3,000 | 13,000 |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | - | 18,300 | 13,900 | 9,800 | 8,200 | 2,800 | 1,500 | - | 5,700 |
Deferred income tax (benefit) provision | |||||||||||
34,200 | 13,700 | 12,300 | 1,300 | -5,100 | 3,200 | 9,500 | 29,300 | 5,100 | -18,000 | 4,800 | 46,300 |
Loss on sales of assets | |||||||||||
-900 | -500 | 200 | -200 | 2,100 | -400 | - | 900 | 100 | 200 | -400 | 700 |
Settlement of treasury lock | |||||||||||
0 | 0 | 14,900 | 0 | - | - | - | - | - | - | - | - |
Loss on early extinguishment of debt | |||||||||||
0 | -7,800 | 0 | 0 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities, net of effects of acquisitions: | |||||||||||
Trade and other accounts receivable | |||||||||||
15,700 | 47,700 | 55,500 | 41,000 | 44,700 | 57,400 | 42,000 | 43,400 | 36,800 | 56,500 | -52,400 | -32,500 |
Contract receivables | |||||||||||
20,900 | 30,900 | 41,800 | 31,900 | 34,600 | 37,500 | 33,700 | 41,100 | 51,500 | 60,100 | 33,800 | 5,400 |
Inventories | |||||||||||
97,000 | 38,600 | 76,000 | 32,700 | 43,300 | 61,100 | 32,000 | 13,400 | 60,900 | 55,200 | -98,400 | 52,300 |
Prepaid and other assets | |||||||||||
22,200 | -10,400 | 10,000 | 11,900 | 28,200 | 50,900 | 10,300 | 24,800 | 35,700 | 26,100 | -14,100 | 9,300 |
Accounts payable | |||||||||||
-2,600 | 27,500 | -2,200 | 16,300 | 4,700 | -7,000 | 8,400 | 16,600 | -21,500 | 26,200 | -7,100 | -43,700 |
Accruals and other liabilities | |||||||||||
-97,700 | -66,000 | 6,200 | -51,900 | 20,700 | 35,900 | -3,200 | -39,500 | -72,200 | 16,800 | -3,600 | -69,900 |
Net cash provided by operating activities | |||||||||||
674,600 | 764,500 | 608,500 | 576,100 | 507,200 | 403,100 | 392,600 | 329,300 | 128,500 | 140,400 | 347,100 | 220,400 |
Investing activities: | |||||||||||
Additions to finance receivables | |||||||||||
841,900 | 865,600 | 892,000 | 915,000 | 844,200 | 746,200 | 651,300 | 569,600 | 519,100 | 497,600 | 265,500 | 0 |
Collections of finance receivables | |||||||||||
754,300 | 747,700 | 712,700 | 671,700 | 624,800 | 591,400 | 508,800 | 445,500 | 356,900 | 245,200 | 82,000 | 0 |
Capital expenditures | |||||||||||
99,400 | 90,900 | 82,000 | 74,300 | 80,400 | 80,600 | 70,600 | 79,400 | 61,200 | 51,100 | 64,400 | 73,900 |
Acquisitions of businesses, net of cash acquired | |||||||||||
38,600 | 3,000 | 82,900 | 160,400 | 11,800 | 41,300 | 38,200 | - | - | 7,700 | 8,100 | 14,100 |
Proceeds from sale of equity investment | |||||||||||
- | - | - | - | - | - | - | 27,000 | - | - | - | - |
Disposals of property and equipment | |||||||||||
1,700 | 700 | 1,500 | 2,200 | 3,500 | 800 | 8,400 | 2,600 | 3,700 | 7,900 | 1,300 | 10,500 |
Other | |||||||||||
-1,800 | -900 | -1,300 | -2,400 | -1,700 | -2,700 | 7,500 | -800 | -100 | -300 | -13,000 | 8,600 |
Net cash used by investing activities | |||||||||||
-222,100 | -210,200 | -341,400 | -473,400 | -306,400 | -273,200 | -250,400 | -173,100 | -219,600 | -303,000 | -241,700 | -86,100 |
Financing activities: | |||||||||||
Proceeds from issuance of long-term debt | |||||||||||
0 | 395,400 | 297,800 | 0 | - | - | - | - | - | 247,700 | 545,900 | 0 |
Repayments of long-term debt | |||||||||||
0 | 457,800 | 150,000 | 0 | - | 100,000 | - | - | 200,000 | 150,000 | - | 0 |
Proceeds from notes payable | |||||||||||
0 | 0 | 16,800 | 4,500 | 7,100 | 4,900 | 3,300 | 16,000 | 19,700 | 21,800 | - | 0 |
Repayments of notes payable | |||||||||||
0 | 16,800 | 4,500 | 5,300 | 6,300 | 1,600 | 2,400 | 30,300 | 17,900 | 21,800 | - | 0 |
Net decrease in other short-term borrowings | |||||||||||
17,600 | 21,700 | 18,300 | 135,000 | -34,800 | 41,700 | 8,100 | 3,100 | -1,200 | -200 | 1,700 | -9,900 |
Cash dividends paid | |||||||||||
216,600 | 192,000 | 169,400 | 147,500 | 127,900 | 107,600 | 92,000 | 81,500 | 76,700 | 71,300 | 69,000 | 69,700 |
Purchases of treasury stock | |||||||||||
238,400 | 284,100 | 287,900 | 120,400 | 110,400 | 79,300 | 82,600 | 78,100 | 37,400 | 8,700 | - | 69,800 |
Proceeds from stock purchase and option plans | |||||||||||
51,400 | 55,500 | 46,200 | 41,800 | 41,600 | 33,000 | 29,200 | 46,800 | 25,700 | 23,700 | 4,500 | 41,700 |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | - | 18,300 | 13,900 | 9,800 | 8,200 | 2,800 | 1,500 | - | 5,700 |
Other | |||||||||||
-23,400 | -24,100 | -23,400 | -24,100 | -24,300 | -17,100 | -11,200 | -11,200 | -8,700 | -7,900 | -7,500 | -6,400 |
Net cash used by financing activities | |||||||||||
-409,400 | -502,200 | -256,100 | -116,000 | -236,700 | -212,100 | -137,800 | -127,000 | -293,700 | 34,800 | 475,600 | -108,400 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||
500 | -3,200 | 3,400 | -1,900 | -4,200 | -2,500 | -1,300 | -300 | -1,800 | 600 | 2,600 | -3,100 |
Increase in cash and cash equivalents | |||||||||||
43,600 | 48,900 | 14,400 | -15,200 | -40,100 | -84,700 | 3,100 | 28,900 | -386,600 | -127,200 | 583,600 | 22,800 |
Supplemental cash flow disclosures: | |||||||||||
Cash paid for interest | |||||||||||
46,300 | 51,500 | 51,200 | 51,000 | 50,800 | 52,800 | 55,500 | 55,600 | 59,300 | 55,400 | 36,400 | 32,000 |
Net cash paid for income taxes | |||||||||||
191,200 | 188,000 | 228,100 | 247,300 | 191,900 | 191,200 | 162,900 | 93,600 | 128,800 | -118,300 | 55,300 | 79,900 |