| 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 | |||||||||||
827,543 | 797,883 | 771,312 | 747,171 | 750,698 | 604,996 | 554,023 | 489,047 | 448,870 | 275,795 | 304,247 | 240,070 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation & amortization | |||||||||||
490,392 | 453,076 | 447,883 | 416,608 | 398,618 | 375,624 | 337,356 | 308,690 | 295,861 | 223,997 | 204,703 | 195,766 |
Stock-based compensation expense | |||||||||||
69,400 | 66,600 | 56,700 | 48,109 | 39,971 | 31,092 | 27,783 | 22,518 | 18,225 | 16,799 | 13,096 | 14,125 |
Costs related to extinguishment of debt | |||||||||||
0 | 2,727 | 0 | 0 | - | 19,730 | 0 | -29,170 | 0 | 0 | - | - |
Gain on sale of assets and businesses | |||||||||||
7,540 | 2,513 | 0 | 0 | 3,615 | 7,837 | 3,114 | 27,085 | 452 | 1,993 | 1,346 | 21,464 |
Provision for asset impairment | |||||||||||
97,631 | 49,310 | 0 | 0 | - | - | - | - | - | - | - | - |
Provision for settlements | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 25,000 |
Changes in assets & liabilities, net of effects from acquisitions and dispositions: | |||||||||||
Accounts receivable | |||||||||||
42,056 | 42,239 | 24,719 | 87,881 | 45,814 | 105,708 | 49,708 | 71,068 | 134,838 | -22,726 | 1,402 | -22,445 |
Construction management and other receivable | |||||||||||
- | - | - | - | - | - | - | - | - | - | 29,519 | -20,693 |
Accrued interest | |||||||||||
-209 | 4,478 | -705 | -9,766 | 693 | -4,400 | 1,197 | -152 | 3,577 | -8,408 | -357 | 123 |
Accrued and deferred income taxes | |||||||||||
25,194 | 54,052 | 6,405 | -22,068 | 34,394 | -33,920 | -34,861 | 5,666 | -78,224 | -132 | 14,930 | -3,483 |
Other working capital accounts | |||||||||||
-39,664 | -24,696 | 15,165 | -74,489 | 125,556 | -73,912 | -26,234 | -28,554 | 28,382 | 26,437 | 18,828 | -3,878 |
Other assets and deferred charges | |||||||||||
27,205 | 31,429 | 27,936 | 25,522 | -6,631 | -13,667 | -8,984 | -30,976 | -37,160 | -11,539 | -6,699 | -21,003 |
Other | |||||||||||
7,703 | -1,536 | 21,769 | 81,139 | 23,295 | 2,449 | 23,485 | 6,367 | -1,387 | 812 | 755 | 2,811 |
Excess income tax benefits related to stock-based compensation | |||||||||||
- | - | - | 45,219 | 47,364 | - | - | - | - | - | - | - |
Accrued insurance expense, net of commercial premiums paid | |||||||||||
105,672 | 92,863 | 102,595 | 84,638 | 90,895 | 59,276 | -3,821 | 62,660 | 83,612 | 19,739 | 44,314 | 73,413 |
Payments made in settlement of self-insurance claims | |||||||||||
97,781 | 76,147 | 79,192 | 81,962 | 79,138 | 69,645 | 70,645 | 75,084 | 82,633 | 50,173 | 55,782 | 58,561 |
Net cash provided by operating activities | |||||||||||
1,438,469 | 1,274,742 | 1,247,585 | 1,333,842 | 1,068,262 | 1,035,876 | 884,241 | 799,231 | 710,683 | 501,344 | 541,262 | 494,187 |
Cash Flows from Investing Activities: | |||||||||||
Property and equipment additions, net of disposals | |||||||||||
634,095 | 664,962 | 557,506 | 519,939 | 379,321 | 391,150 | 358,493 | 363,192 | 285,682 | 239,274 | 379,748 | 354,537 |
Acquisition of property and businesses | |||||||||||
8,005 | 110,464 | 22,878 | 613,803 | 533,655 | 431,386 | 12,636 | 527,847 | 29,466 | 1,958,298 | -12,499 | 23,481 |
Inflows (outflows) from foreign exchange contracts that hedge our net U.K. investment | |||||||||||
19,763 | -66,151 | 64,333 | - | - | - | - | - | - | - | - | - |
Proceeds received from sales of assets and businesses | |||||||||||
9,450 | 13,502 | 108 | 0 | 3,391 | 15,178 | 37,482 | 149,311 | 67,592 | 21,460 | 9,770 | 82,062 |
Costs incurred for purchase and implementation of information technology applications | |||||||||||
21,418 | 36,243 | 29,047 | 21,475 | 0 | 13,488 | 49,811 | 54,362 | 38,249 | 17,971 | -7,957 | - |
Decrease (Increase) in capital reserves of commercial insurance subsidiary | |||||||||||
0 | -100 | 3,100 | 0 | 3,300 | 12,000 | 0 | 0 | - | - | - | - |
Investment in, and advances to, joint ventures and other | |||||||||||
14,579 | 15,331 | 7,976 | 0 | 0 | - | - | - | - | - | - | - |
Return of Deposit on terminated purchase agreement | |||||||||||
- | - | - | - | - | - | - | -6,500 | 0 | 0 | - | - |
Settlement proceeds received related to prior year acquisition, net of expenses | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -1,539 |
Investment in joint-venture | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,249 |
Net cash used in investing activities | |||||||||||
-688,410 | -747,247 | -684,732 | -1,155,217 | -912,885 | -832,846 | -383,458 | -789,590 | -285,805 | -2,194,083 | -390,434 | -295,666 |
Cash Flows from Financing Activities: | |||||||||||
Reduction of long-term debt | |||||||||||
57,142 | 830,496 | 143,106 | 459,183 | 68,166 | 879,129 | 440,224 | 849,647 | 381,517 | 1,392,086 | 66,499 | 166,557 |
Additional borrowings | |||||||||||
39,220 | 791,247 | 41,100 | 1,170,800 | 234,400 | 830,000 | 15,761 | 913,500 | 98,100 | 3,266,146 | 26,069 | 151,129 |
Acquisition of noncontrolling interests in majority owned businesses | |||||||||||
- | - | - | 418,000 | 0 | 0 | - | - | - | - | 229 | -1,058 |
Financing costs | |||||||||||
0 | 13,787 | 76 | 12,449 | 515 | 14,976 | 231 | 8,283 | 23,608 | 101,815 | 0 | 975 |
Repurchase of common shares | |||||||||||
770,504 | 397,425 | 364,401 | 353,380 | 209,782 | 100,749 | 27,201 | 19,154 | 60,482 | 11,528 | 63,288 | 149,404 |
Dividends paid | |||||||||||
53,003 | 37,342 | 38,211 | 38,875 | 39,532 | 29,665 | 19,621 | 58,395 | 19,466 | 19,422 | 16,706 | 16,150 |
Issuance of common stock | |||||||||||
10,806 | 10,196 | 10,254 | 9,503 | 8,441 | 6,863 | 5,708 | 5,435 | 4,779 | 3,594 | 3,290 | 2,354 |
Excess income tax benefits related to stock based compensation | |||||||||||
- | - | - | - | - | 33,912 | 20,121 | 16,040 | 7,568 | - | - | - |
Profit distributions to noncontrolling interests | |||||||||||
15,859 | 14,595 | 24,713 | 69,583 | 62,220 | 33,680 | 61,329 | 26,895 | 38,497 | 32,456 | 29,866 | 31,087 |
Proceeds received from sale/leaseback of real property | |||||||||||
- | - | - | - | 12,765 | 0 | 0 | - | - | - | - | - |
Proceeds from sale of noncontrolling interests in majority owned business | |||||||||||
- | - | - | - | - | - | - | - | - | 600 | - | - |
Capital contributions from minority members | |||||||||||
1,446 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Capital contributions from noncontrolling interests | |||||||||||
- | - | - | - | - | - | - | - | - | - | 121 | 2,333 |
Net cash used in financing activities | |||||||||||
-845,036 | -492,202 | -519,153 | -171,167 | -124,609 | -187,424 | -507,016 | -27,399 | -413,123 | 1,713,033 | -147,108 | -209,415 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | |||||||||||
959 | -2,905 | 1,647 | -2,790 | -1,609 | -775 | 0 | 0 | - | - | - | - |
Decrease in cash, cash equivalents and restricted cash | |||||||||||
-94,018 | 32,388 | 45,347 | 4,668 | 29,159 | 14,831 | -6,233 | -17,758 | 11,755 | 20,294 | 3,720 | -10,894 |
Supplemental Disclosures of Cash Flow Information: | |||||||||||
Interest paid | |||||||||||
157,406 | 150,293 | 135,533 | 107,079 | 107,054 | 130,279 | 131,259 | 157,415 | 176,328 | 76,900 | 57,018 | 62,285 |
Income taxes paid, net of refunds | |||||||||||
260,622 | 293,837 | 370,855 | 344,611 | 380,658 | 258,612 | 259,896 | 264,824 | 163,029 | 152,088 | 155,368 | 130,379 |
Noncash purchases of property and equipment | |||||||||||
63,514 | 77,674 | 82,496 | 65,702 | 49,086 | 35,469 | 36,212 | 34,896 | - | - | - | - |
Right-of-use assets obtained in exchange for lease obligations | |||||||||||
383,900 | 0 | 0 | - | - | - | - | - | - | - | - | - |