XML 16 R7.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net earnings $ 7,700,000 $ 67,500,000 $ 73,300,000
Adjustments to reconcile net earnings to cash provided by operating activities:      
Depreciation and amortization 43,300,000 38,500,000 34,200,000
Amortization of debt issuance costs and loss on extinguishment of debt 1,100,000 1,400,000 2,500,000
Deferred income tax expense (benefit) 4,300,000 (1,300,000) 4,800,000
Pension settlement charges 4,800,000 21,000,000.0 5,700,000
Loss on fair value remeasurement of contingent consideration 12,500,000 (800,000) (300,000)
Inventory obsolescence 3,700,000 2,000,000.0 1,700,000
Unrealized foreign currency losses 300,000 2,000,000.0 500,000
Stock-based compensation 12,900,000 10,800,000 9,200,000
Loss on fair value measurements 1,400,000 6,500,000 0
Other non-cash items (1,500,000) 2,600,000 3,100,000
Changes in operating assets and liabilities, net of effects of acquisitions:      
Customer receivables 23,200,000 13,000,000.0 (25,000,000.0)
Inventories 300,000 (20,900,000) (16,200,000)
Prepaid and other current assets (20,500,000) 6,200,000 (3,500,000)
Accounts payable (30,500,000) (1,400,000) 12,500,000
Other current liabilities (2,300,000) (8,900,000) 13,600,000
Other noncurrent assets and liabilities 0 0 (7,900,000)
Cash provided by operating activities 60,700,000 138,200,000 108,200,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property and equipment (43,300,000) (49,900,000) (40,300,000)
Purchases of businesses, net of cash acquired 0 (30,900,000) (308,000,000.0)
Proceeds from sales of property and equipment 12,300,000 100,000 0
Other, net 100,000 0 0
Cash used in investing activities (30,900,000) (80,700,000) (348,300,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from revolving credit facility 414,500,000 417,500,000 490,500,000
Repayment of revolving credit facility (492,000,000.0) (413,500,000) (383,000,000.0)
Proceeds from term loans 0 0 350,200,000
Repayment of term loans (65,900,000) (17,100,000) (177,900,000)
Capitalized debt issuance costs (300,000) (1,500,000) (4,600,000)
Payment of fees related to debt extinguishment 0 0 (1,000,000.0)
Payment of dividends (16,900,000) (32,800,000) (30,000,000.0)
Proceeds from the issuance of preferred stock, net 161,800,000 0 0
Payments of withholding taxes related to net share settlements of equity awards (4,300,000) (3,300,000) (4,400,000)
Cash (used in) provided by financing activities (3,100,000) (50,700,000) 239,800,000
Effect of exchange rate changes on cash and cash equivalents 2,100,000 100,000 (300,000)
Net increase (decrease) in cash and cash equivalents 28,800,000 6,900,000 (600,000)
Cash and cash equivalents at beginning of year 8,500,000 1,600,000 2,200,000
Cash and cash equivalents at end of year 37,300,000 8,500,000 1,600,000
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 16,300,000 20,300,000 18,300,000
Cash paid for income taxes, net of refunds received $ 14,500,000 $ 12,500,000 $ 9,600,000