| 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 | |||||||||||
84,000 | 283,000 | -258,000 | 128,000 | 142,000 | 431,000 | 91,000 | 172,000 | 365,000 | 605,000 | 310,000 | -573,000 |
Adjustments to reconcile net earnings to cash flows from operating activities | |||||||||||
Depreciation and amortization | |||||||||||
293,000 | 308,000 | 321,000 | 348,000 | 359,000 | 384,000 | 376,000 | 385,000 | 376,000 | 395,000 | 405,000 | 463,000 |
Deferred income taxes and tax uncertainties | |||||||||||
-16,000 | 13,000 | -207,000 | 9,000 | -56,000 | -201,000 | -8,000 | -1,000 | 40,000 | -174,000 | 157,000 | -42,000 |
Impairment of long-lived assets | |||||||||||
58,000 | 7,000 | 578,000 | 29,000 | 77,000 | 4,000 | 22,000 | 14,000 | 85,000 | 50,000 | 62,000 | 383,000 |
Net gains on disposals of property, plant and equipment | |||||||||||
- | 4,000 | 13,000 | - | 15,000 | - | -4,000 | -2,000 | 6,000 | -33,000 | 7,000 | - |
Loss on repurchase of long-term debt and debt restructuring costs | |||||||||||
- | - | - | - | - | - | - | - | -4,000 | -47,000 | 12,000 | -11,000 |
Impairment of goodwill and intangible assets (NOTE 3) | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 325,000 |
Net losses (gains) on disposals of property, plant and equipment and sale of businesses and trademarks | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 9,000 |
Stock-based compensation expense | |||||||||||
9,000 | 8,000 | 6,000 | 7,000 | 5,000 | 4,000 | 5,000 | 5,000 | 3,000 | 5,000 | 8,000 | 16,000 |
Equity loss, net of taxes | |||||||||||
-2,000 | -2,000 | - | - | - | - | -1,000 | -6,000 | -7,000 | - | - | - |
Other | |||||||||||
- | 1,000 | -2,000 | 2,000 | -4,000 | -3,000 | 2,000 | 13,000 | 0 | 2,000 | -16,000 | 12,000 |
Changes in assets and liabilities | |||||||||||
Receivables | |||||||||||
-96,000 | -18,000 | 72,000 | -18,000 | 22,000 | -39,000 | 70,000 | -99,000 | 12,000 | 73,000 | 55,000 | -7,000 |
Inventories | |||||||||||
16,000 | 24,000 | -21,000 | -14,000 | 84,000 | 29,000 | 8,000 | -5,000 | -2,000 | -39,000 | -261,000 | 85,000 |
Prepaid expenses | |||||||||||
-2,000 | -2,000 | -5,000 | -5,000 | -5,000 | -1,000 | -1,000 | 3,000 | -2,000 | -6,000 | 3,000 | 19,000 |
Trade and other payables | |||||||||||
-67,000 | 24,000 | 35,000 | -51,000 | - | -33,000 | -11,000 | -118,000 | -27,000 | -11,000 | 38,000 | -117,000 |
Income and other taxes | |||||||||||
-43,000 | -32,000 | 12,000 | -18,000 | 38,000 | 12,000 | -26,000 | -4,000 | 33,000 | 344,000 | -357,000 | 13,000 |
Difference between employer pension and other post-retirement contributions and pension and other post-retirement expense | |||||||||||
-29,000 | 46,000 | 32,000 | 21,000 | 1,000 | -16,000 | -31,000 | 13,000 | 18,000 | 120,000 | 61,000 | -141,000 |
Other assets and other liabilities | |||||||||||
-11,000 | 4,000 | -51,000 | 1,000 | -1,000 | -3,000 | -5,000 | -15,000 | -29,000 | -22,000 | -30,000 | -25,000 |
Cash flows from operating activities | |||||||||||
442,000 | 554,000 | 449,000 | 465,000 | 453,000 | 634,000 | 411,000 | 551,000 | 883,000 | 1,166,000 | 792,000 | 197,000 |
Investing activities | |||||||||||
Additions to property, plant and equipment | |||||||||||
255,000 | 195,000 | 182,000 | 347,000 | 289,000 | 236,000 | 242,000 | 236,000 | 144,000 | 153,000 | 106,000 | 163,000 |
Proceeds from disposals of property, plant and equipment | |||||||||||
1,000 | 5,000 | 19,000 | 1,000 | 36,000 | 1,000 | 61,000 | 49,000 | 44,000 | 26,000 | 21,000 | 35,000 |
Proceeds from sale of businesses and investments | |||||||||||
- | - | - | - | - | - | - | - | - | 185,000 | - | - |
Acquisition of business, net of cash acquired (NOTE 3) | |||||||||||
- | - | 8,000 | 46,000 | - | 546,000 | 287,000 | 293,000 | 288,000 | - | - | - |
Other | |||||||||||
- | 6,000 | - | -1,000 | -9,000 | 5,000 | 1,000 | 6,000 | - | - | - | - |
Investment in joint venture | |||||||||||
- | - | - | - | - | - | - | - | 7,000 | - | - | 12,000 |
Cash flows used for investing activities | |||||||||||
-254,000 | -196,000 | -171,000 | -391,000 | -244,000 | -786,000 | -469,000 | -486,000 | -395,000 | 58,000 | -85,000 | -140,000 |
Financing activities | |||||||||||
Dividend payments | |||||||||||
110,000 | 108,000 | 104,000 | 102,000 | 100,000 | 84,000 | 67,000 | 58,000 | 49,000 | 21,000 | - | - |
Debt issue and tender offer costs | |||||||||||
- | - | - | - | - | - | - | - | 7,000 | 35,000 | 14,000 | - |
Stock repurchase | |||||||||||
219,000 | - | - | 10,000 | 50,000 | 38,000 | 183,000 | 157,000 | 494,000 | 44,000 | - | - |
Net change in bank indebtedness | |||||||||||
9,000 | - | -12,000 | 12,000 | -11,000 | -6,000 | 3,000 | 11,000 | -16,000 | -19,000 | - | -24,000 |
Change in revolving credit facility | |||||||||||
80,000 | - | -50,000 | - | 50,000 | -160,000 | 160,000 | - | 0 | - | 60,000 | -10,000 |
Proceeds from receivables securitization facility | |||||||||||
205,000 | 85,000 | 45,000 | 140,000 | - | 90,000 | - | - | - | - | - | - |
Repayments of receivables securitization facility | |||||||||||
200,000 | 60,000 | 90,000 | 70,000 | - | 129,000 | -249,000 | - | - | - | - | - |
Issuance of long-term debt | |||||||||||
- | - | - | - | 300,000 | - | - | 548,000 | 0 | - | 385,000 | - |
Repayments of long-term debt | |||||||||||
1,000 | 301,000 | 64,000 | 40,000 | 439,000 | 4,000 | 102,000 | 192,000 | 18,000 | 898,000 | 725,000 | 95,000 |
Prepaid on structured stock repurchase, net | |||||||||||
- | - | - | - | - | - | - | - | - | 2,000 | - | - |
Other | |||||||||||
-1,000 | 2,000 | 1,000 | -3,000 | 1,000 | 5,000 | - | - | 10,000 | -3,000 | - | - |
Cash flows provided from (used for) financing activities | |||||||||||
-237,000 | -382,000 | -274,000 | -73,000 | -249,000 | -326,000 | 54,000 | 152,000 | -574,000 | -1,018,000 | -414,000 | -109,000 |
Net increase (decrease) in cash and cash equivalents | |||||||||||
-49,000 | -24,000 | 4,000 | 1,000 | -40,000 | -478,000 | -4,000 | 217,000 | -86,000 | 206,000 | 293,000 | -52,000 |
Impact of foreign exchange on cash | |||||||||||
-1,000 | -4,000 | 10,000 | -2,000 | -8,000 | -3,000 | -2,000 | - | 0 | - | 15,000 | -3,000 |
Supplemental cash flow information | |||||||||||
Interest | |||||||||||
46,000 | 57,000 | 58,000 | 64,000 | 133,000 | 92,000 | 81,000 | 116,000 | 74,000 | 107,000 | 125,000 | 120,000 |
Income taxes | |||||||||||
59,000 | 71,000 | 33,000 | 40,000 | 34,000 | 18,000 | 5,000 | 76,000 | 60,000 | 28,000 | -20,000 | 49,000 |