| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities: | ||||||||||||
Net income | ||||||||||||
2,303,000 | 2,121,000 | 1,638,000 | 2,228,000 | 1,268,000 | -13,000 | 1,466,000 | 492,000 | 934,000 | 851,000 | 750,000 | 819,365 | 1,027,358 |
Less: income from discontinued operations | ||||||||||||
- | - | - | - | - | 178,000 | 592,000 | -209,000 | 308,000 | 252,000 | - | - | - |
Net income (loss) from continuing operations | ||||||||||||
- | - | - | - | - | -191,000 | 874,000 | 701,000 | 626,000 | 599,000 | - | - | - |
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||||||
Depreciation | ||||||||||||
82,000 | 84,000 | 82,000 | 85,000 | 90,000 | 86,000 | 86,000 | 93,000 | 93,000 | 87,000 | 138,000 | 149,737 | 112,586 |
Amortization of intangibles | ||||||||||||
122,000 | 122,000 | 98,000 | 96,000 | 67,000 | 48,000 | 51,000 | 48,000 | 33,000 | 21,000 | 53,000 | 58,497 | 48,403 |
Amortization of prepublication costs | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 270,000 | 270,442 | 240,182 |
Provision for losses on accounts receivable | ||||||||||||
18,000 | 21,000 | 16,000 | 9,000 | 8,000 | 11,000 | 22,000 | 32,000 | 6,000 | 13,000 | 32,000 | 27,098 | 14,991 |
Deferred income taxes | ||||||||||||
46,000 | 81,000 | 0 | 79,000 | 280,000 | -245,000 | 43,000 | 53,000 | 17,000 | 33,000 | 6,000 | -17 | -46,615 |
Stock-based compensation | ||||||||||||
78,000 | 94,000 | 99,000 | 76,000 | 78,000 | 100,000 | 96,000 | 90,000 | 77,000 | 51,000 | 22,000 | -1,934 | 124,692 |
Gain on disposition | ||||||||||||
49,000 | 0 | 0 | 1,101,000 | 11,000 | -9,000 | - | - | 13,000 | 7,000 | -3,000 | 0 | 21,432 |
Accrued legal settlements | ||||||||||||
0 | 1,000 | 55,000 | 54,000 | 119,000 | 1,587,000 | 0 | 0 | - | - | - | - | - |
Pension settlement charge, net of taxes | ||||||||||||
85,000 | 0 | 0 | - | - | - | - | - | - | - | - | - | - |
Other | ||||||||||||
-93,000 | -52,000 | -96,000 | -30,000 | -57,000 | -71,000 | -96,000 | -3,000 | -63,000 | -33,000 | -11,000 | -6,732 | -1,160 |
Changes in operating assets and liabilities, net of effect of acquisitions and dispositions: | ||||||||||||
Accounts receivable | ||||||||||||
135,000 | 164,000 | 196,000 | 177,000 | 118,000 | 9,000 | 35,000 | 250,000 | -14,000 | 73,000 | -50,000 | -95,070 | 71,448 |
Inventories | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -68,000 | 26,482 | -11,601 |
Prepaid and other current assets | ||||||||||||
81,000 | 1,000 | -10,000 | -5,000 | -5,000 | 7,000 | 29,000 | -3,000 | 16,000 | 8,000 | 12,000 | -1,702 | -4,717 |
Accounts payable and accrued expenses | ||||||||||||
73,000 | -106,000 | 75,000 | 19,000 | -9,000 | -130,000 | -94,000 | 73,000 | -29,000 | 100,000 | 0 | -242,327 | 34,840 |
Unearned revenue | ||||||||||||
256,000 | 70,000 | 85,000 | 107,000 | 129,000 | 78,000 | 109,000 | 23,000 | 44,000 | 57,000 | 26,000 | 25,145 | 86,877 |
Accrued legal settlements | ||||||||||||
-1,000 | -108,000 | -4,000 | 150,000 | 1,624,000 | 35,000 | 0 | - | - | - | - | - | - |
Other current liabilities | ||||||||||||
-56,000 | -67,000 | -85,000 | -19,000 | -77,000 | -16,000 | -89,000 | -68,000 | -52,000 | -16,000 | -14,000 | 26,317 | 71,636 |
Net change in prepaid/accrued income taxes | ||||||||||||
-41,000 | -7,000 | 32,000 | 174,000 | 129,000 | -93,000 | -238,000 | 119,000 | 55,000 | -47,000 | -18,000 | 7,354 | -36,940 |
Net change in other assets and liabilities | ||||||||||||
17,000 | 129,000 | -15,000 | -45,000 | 35,000 | 55,000 | 110,000 | 190,000 | -6,000 | 139,000 | 55,000 | 25,185 | 6,403 |
Cash provided by operating activities | ||||||||||||
2,776,000 | 2,064,000 | 2,016,000 | 1,560,000 | 356,000 | 1,209,000 | 782,000 | 730,000 | 924,000 | 704,000 | 1,330,000 | 1,178,050 | 1,716,951 |
Investing Activities: | ||||||||||||
Investment in prepublication costs | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 177,000 | 254,106 | 298,984 |
Capital expenditures | ||||||||||||
115,000 | 113,000 | 123,000 | 115,000 | 139,000 | 92,000 | 117,000 | 96,000 | 92,000 | 86,000 | 92,000 | 131,331 | - |
Contingent consideration payment | ||||||||||||
- | - | - | 34,000 | - | - | - | - | - | - | - | - | - |
Purchase of property and equipment | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 229,609 |
Acquisitions, net of cash acquired | ||||||||||||
91,000 | 401,000 | 83,000 | 177,000 | 2,396,000 | 71,000 | 47,000 | 177,000 | 194,000 | 327,000 | 0 | 48,261 | 86,707 |
Proceeds from dispositions | ||||||||||||
85,000 | 6,000 | 2,000 | 1,498,000 | 14,000 | 83,000 | 51,000 | 0 | 21,000 | 25,000 | - | 440 | 62,261 |
Changes in short-term investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -15,000 | - | 0 |
Changes in short-term investments | ||||||||||||
10,000 | 5,000 | 5,000 | 1,000 | 4,000 | -15,000 | 17,000 | -27,000 | 6,000 | -2,000 | 25,000 | 0 | - |
Additions to technology projects | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 16,654 |
Cash used for investing activities | ||||||||||||
-131,000 | -513,000 | -209,000 | 1,171,000 | -2,525,000 | -65,000 | -130,000 | -246,000 | -271,000 | -386,000 | -279,000 | -433,258 | -569,693 |
Financing Activities: | ||||||||||||
Payments on short-term debt, net | ||||||||||||
- | - | - | -143,000 | 143,000 | 0 | -457,000 | 457,000 | 0 | 0 | - | 70,000 | -2,345 |
Payments on short-term debt, net | ||||||||||||
- | - | - | - | - | - | 0 | 400,000 | 0 | 0 | 70,000 | - | - |
Proceeds from issuance of senior notes, net | ||||||||||||
1,086,000 | 489,000 | 0 | 493,000 | 2,674,000 | 0 | - | - | - | - | - | - | 1,188,803 |
Payments on senior notes | ||||||||||||
868,000 | 403,000 | 0 | 421,000 | 0 | 0 | - | - | - | - | - | - | - |
Dividends paid to shareholders | ||||||||||||
560,000 | 503,000 | 421,000 | 380,000 | 363,000 | 326,000 | 308,000 | 984,000 | 296,000 | 292,000 | 281,000 | 280,455 | 277,746 |
Payments for Previous Acquisition | ||||||||||||
- | - | - | 5,000 | 5,000 | 11,000 | 12,000 | 0 | 0 | - | - | - | - |
Distributions to noncontrolling interest holders, net | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | 0 | - |
Payments to Acquire Interest in Subsidiaries and Affiliates | ||||||||||||
- | - | - | 0 | 16,000 | 0 | 214,000 | 0 | 0 | - | - | - | - |
Distributions to noncontrolling interest holders, net | ||||||||||||
143,000 | 154,000 | 111,000 | 116,000 | 104,000 | 84,000 | 75,000 | 24,000 | 23,000 | 34,000 | 9,000 | 9,297 | - |
Repurchase of treasury shares | ||||||||||||
1,240,000 | 1,660,000 | 1,001,000 | 1,123,000 | 974,000 | 362,000 | 978,000 | 295,000 | 1,500,000 | 256,000 | 0 | 447,233 | 2,212,655 |
Exercise of stock options | ||||||||||||
40,000 | 34,000 | 75,000 | 88,000 | 86,000 | 193,000 | 258,000 | 299,000 | 139,000 | 50,000 | 25,000 | 41,420 | 146,867 |
Purchase of additional CRISIL shares | ||||||||||||
0 | 25,000 | 0 | - | - | - | - | - | - | - | - | - | - |
Employee withholding tax on share-based payments | ||||||||||||
66,000 | 66,000 | 49,000 | 55,000 | -92,000 | 128,000 | 43,000 | 42,000 | 20,000 | 2,000 | 0 | 3,981 | 35,849 |
Cash used for financing activities | ||||||||||||
-1,751,000 | -2,288,000 | -1,507,000 | -1,662,000 | 1,349,000 | -462,000 | -1,743,000 | -905,000 | -1,660,000 | -530,000 | -335,000 | -621,584 | -1,121,227 |
Effect of exchange rate changes on cash | ||||||||||||
34,000 | -84,000 | 87,000 | -158,000 | -67,000 | -65,000 | -1,000 | 5,000 | -10,000 | -15,000 | 22,000 | -47,633 | 16,567 |
Net change in cash, cash equivalents, and restricted cash | ||||||||||||
928,000 | -821,000 | 387,000 | 911,000 | -1,016,000 | 955,000 | 782,000 | -75,000 | -581,000 | 298,000 | 738,000 | 75,575 | 42,598 |
Cash provided by continuing operations | ||||||||||||
- | - | - | - | -887,000 | 617,000 | -1,092,000 | -416,000 | -1,017,000 | -227,000 | - | - | - |
Discontinued Operations: | ||||||||||||
Cash used for operating activities | ||||||||||||
- | - | - | - | -129,000 | 18,000 | -231,000 | 537,000 | 420,000 | 753,000 | - | - | - |
Cash provided by investing activities | ||||||||||||
- | - | - | - | - | 320,000 | 2,129,000 | -199,000 | 25,000 | -212,000 | - | - | - |
Cash used for financing activities | ||||||||||||
- | - | - | - | - | - | -25,000 | -12,000 | -4,000 | -3,000 | - | - | - |
Effect of exchange rate changes on cash | ||||||||||||
- | - | - | - | - | - | 1,000 | 3,000 | -5,000 | 4,000 | - | - | - |
Effect of change in cash and equivalents | ||||||||||||
- | - | - | - | - | - | - | 12,000 | 0 | -17,000 | - | - | - |
Cash used for discontinued operations | ||||||||||||
- | - | - | - | -129,000 | 338,000 | 1,874,000 | 341,000 | 436,000 | 525,000 | - | - | - |
Cash paid during the year for: | ||||||||||||
Interest | ||||||||||||
162,000 | 151,000 | 139,000 | 150,000 | 65,000 | 50,000 | 50,000 | 77,000 | 71,000 | 71,000 | 71,000 | 71,879 | - |
Income taxes | ||||||||||||
659,000 | 558,000 | 709,000 | 683,000 | 260,000 | 419,000 | 787,000 | 243,000 | 452,000 | 410,000 | 416,000 | 466,148 | - |