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Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors (Tables)
12 Months Ended
Dec. 31, 2014
Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors  
Schedule of Selected Consolidated Balance Sheets of Parent, Guarantors, Canada Company and Non-Guarantors

 

 

December 31, 2013

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and Cash Equivalents

 

$
1,243 

 

$
10,366 

 

$
1,094 

 

$
107,823 

 

$—

 

$
120,526 

 

Restricted Cash

 

33,860 

 

 

 

 

 

33,860 

 

Accounts Receivable

 

 

358,118 

 

38,928 

 

219,751 

 

 

616,797 

 

Intercompany Receivable

 

761,501 

 

 

1,607 

 

 

(763,108)

 

 

Other Current Assets

 

1,120 

 

98,717 

 

5,995 

 

56,622 

 

(30)

 

162,424 

 

Total Current Assets

 

797,724 

 

467,201 

 

47,624 

 

384,196 

 

(763,138)

 

933,607 

 

Property, Plant and Equipment, Net

 

1,019 

 

1,569,248 

 

172,246 

 

835,747 

 

 

2,578,260 

 

Other Assets, Net:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term Notes Receivable from Affiliates and Intercompany Receivable

 

1,775,570 

 

1,000 

 

2,672 

 

 

(1,779,242)

 

 

Investment in Subsidiaries

 

1,564,405 

 

1,313,835 

 

31,130 

 

70,788 

 

(2,980,158)

 

 

Goodwill

 

 

1,638,534 

 

187,259 

 

637,559 

 

 

2,463,352 

 

Other

 

38,862 

 

376,939 

 

11,257 

 

250,842 

 

(114)

 

677,786 

 

Total Other Assets, Net

 

3,378,837 

 

3,330,308 

 

232,318 

 

959,189 

 

(4,759,514)

 

3,141,138 

 

Total Assets

 

$
4,177,580 

 

$
5,366,757 

 

$
452,188 

 

$
2,179,132 

 

$
(5,522,652)

 

$
6,653,005 

 

Liabilities and Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany Payable

 

$—

 

$
581,029 

 

$—

 

$
182,079 

 

$
(763,108)

 

$—

 

Current Portion of Long-term Debt

 

 

30,236 

 

 

22,377 

 

(30)

 

52,583 

 

Total Other Current Liabilities

 

125,705 

 

540,169 

 

29,513 

 

221,131 

 

 

916,518 

 

Long-term Debt, Net of Current Portion

 

3,009,597 

 

508,382 

 

289,105 

 

312,055 

 

 

4,119,139 

 

Long-term Notes Payable to Affiliates and Intercompany Payable

 

1,000 

 

1,772,144 

 

 

6,098 

 

(1,779,242)

 

 

Other Long-term Liabilities

 

40 

 

388,645 

 

31,652 

 

92,808 

 

(114)

 

513,031 

 

Commitments and Contingencies (See Note 10)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Iron Mountain Incorporated Stockholders’ Equity

 

1,041,238 

 

1,546,152 

 

101,918 

 

1,332,088 

 

(2,980,158)

 

1,041,238 

 

Noncontrolling Interests

 

 

 

 

10,496 

 

 

10,496 

 

Total Equity

 

1,041,238 

 

1,546,152 

 

101,918 

 

1,342,584 

 

(2,980,158)

 

1,051,734 

 

Total Liabilities and Equity

 

$
4,177,580 

 

$
5,366,757 

 

$
452,188 

 

$
2,179,132 

 

$
(5,522,652)

 

$
6,653,005 

 

 

 

 

 

December 31, 2014

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and Cash Equivalents

 

$
2,399 

 

$
4,713 

 

$
4,979 

 

$
113,842 

 

$—

 

$
125,933 

 

Restricted Cash

 

33,860 

 

 

 

 

 

33,860 

 

Accounts Receivable

 

 

361,330 

 

37,137 

 

205,798 

 

 

604,265 

 

Intercompany Receivable

 

 

586,725 

 

 

 

(586,725)

 

 

Other Current Assets

 

153 

 

88,709 

 

2,925 

 

61,908 

 

(34)

 

153,661 

 

Total Current Assets

 

36,412 

 

1,041,477 

 

45,041 

 

381,548 

 

(586,759)

 

917,719 

 

Property, Plant and Equipment, Net

 

840 

 

1,580,337 

 

160,977 

 

808,573 

 

 

2,550,727 

 

Other Assets, Net:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term Notes Receivable from Affiliates and Intercompany Receivable

 

2,851,651 

 

245 

 

2,448 

 

 

(2,854,344)

 

 

Investment in Subsidiaries

 

917,170 

 

656,877 

 

30,751 

 

93,355 

 

(1,698,153)

 

 

Goodwill

 

 

1,611,957 

 

180,342 

 

631,484 

 

 

2,423,783 

 

Other

 

31,108 

 

375,082 

 

26,672 

 

245,251 

 

 

678,113 

 

Total Other Assets, Net

 

3,799,929 

 

2,644,161 

 

240,213 

 

970,090 

 

(4,552,497)

 

3,101,896 

 

Total Assets

 

$
3,837,181 

 

$
5,265,975 

 

$
446,231 

 

$
2,160,211 

 

$
(5,139,256)

 

$
6,570,342 

 

Liabilities and Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

Intercompany Payable

 

$
505,083 

 

$—

 

$
3,564 

 

$
78,078 

 

$
(586,725)

 

$—

 

Current Portion of Long-term Debt

 

 

24,955 

 

 

27,174 

 

(34)

 

52,095 

 

Total Other Current Liabilities

 

60,097 

 

470,122 

 

35,142 

 

239,280 

 

 

804,641 

 

Long-term Debt, Net of Current Portion

 

2,414,646 

 

908,431 

 

245,861 

 

1,042,498 

 

 

4,611,436 

 

Long-term Notes Payable to Affiliates and Intercompany Payable

 

1,000 

 

2,851,384 

 

 

1,960 

 

(2,854,344)

 

 

Other Long-term Liabilities

 

 

115,789 

 

37,558 

 

78,868 

 

 

232,215 

 

Commitments and Contingencies (See Note 10)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Iron Mountain Incorporated Stockholders’ Equity

 

856,355 

 

895,294 

 

124,106 

 

678,753 

 

(1,698,153)

 

856,355 

 

Noncontrolling Interests

 

 

 

 

13,600 

 

 

13,600 

 

Total Equity

 

856,355 

 

895,294 

 

124,106 

 

692,353 

 

(1,698,153)

 

869,955 

 

Total Liabilities and Equity

 

$
3,837,181 

 

$
5,265,975 

 

$
446,231 

 

$
2,160,211 

 

$
(5,139,256)

 

$
6,570,342 

 

 

 

Schedule of Selected Consolidated Statements of Operations of Parent, Guarantors, Canada Company and Non-Guarantors

 

 

Year Ended December 31, 2012

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

Storage Rental

 

$—

 

$
1,156,681 

 

$
130,825 

 

$
445,632 

 

$—

 

$
1,733,138 

 

Service

 

 

782,768 

 

 

488,049 

 

 

1,270,817 

 

Total Revenues

 

 

1,939,449 

 

130,825 

 

933,681 

 

 

3,003,955 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding depreciation and amortization)

 

 

761,092 

 

27,881 

 

488,140 

 

 

1,277,113 

 

Selling, general and administrative

 

220 

 

591,092 

 

17,741 

 

241,318 

 

 

850,371 

 

Depreciation and amortization

 

320 

 

192,304 

 

12,797 

 

110,923 

 

 

316,344 

 

(Gain) Loss on disposal/write-down of property, plant and equipment (excluding real estate), net

 

 

(1,030)

 

84 

 

5,607 

 

 

4,661 

 

Total Operating Expenses

 

540 

 

1,543,458 

 

58,503 

 

845,988 

 

 

2,448,489 

 

Operating (Loss) Income

 

(540)

 

395,991 

 

72,322 

 

87,693 

 

 

555,466 

 

Interest Expense (Income), Net

 

196,423 

 

(17,117)

 

36,114 

 

27,179 

 

 

242,599 

 

Other Expense (Income), Net

 

32,161 

 

(3,842)

 

(37)

 

(12,220)

 

 

16,062 

 

(Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes and (Gain) Loss on Sale of Real Estate

 

(229,124)

 

416,950 

 

36,245 

 

72,734 

 

 

296,805 

 

Provision (Benefit) for Income Taxes

 

 

86,060 

 

12,768 

 

15,476 

 

 

114,304 

 

Loss (Gain) on Sale of Real Estate, Net of Tax

 

 

39 

 

 

(245)

 

 

(206)

 

Equity in the (Earnings) Losses of Subsidiaries, Net of Tax

 

(400,046)

 

(73,625)

 

(5,273)

 

(23,477)

 

502,421 

 

 

Income (Loss) from Continuing Operations

 

170,922 

 

404,476 

 

28,750 

 

80,980 

 

(502,421)

 

182,707 

 

Income (Loss) from Discontinued Operations, Net of Tax

 

 

430 

 

 

(7,204)

 

 

(6,774)

 

(Loss) Gain on Sale of Discontinued Operations, Net of Tax

 

 

 

 

(1,885)

 

 

(1,885)

 

Net Income (Loss)

 

170,922 

 

404,906 

 

28,750 

 

71,891 

 

(502,421)

 

174,048 

 

Less: Net Income (Loss) Attributable to Noncontrolling Interests

 

 

 

 

3,126 

 

 

3,126 

 

Net Income (Loss) Attributable to Iron Mountain Incorporated

 

$
170,922 

 

$
404,906 

 

$
28,750 

 

$
68,765 

 

$
(502,421)

 

$
170,922 

 

Net Income (Loss)

 

$
170,922 

 

$
404,906 

 

$
28,750 

 

$
71,891 

 

$
(502,421)

 

$
174,048 

 

Other Comprehensive Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Translation Adjustments

 

(2,668)

 

(212)

 

8,012 

 

18,054 

 

 

23,186 

 

Equity in Other Comprehensive Income (Loss) of Subsidiaries

 

25,185 

 

25,421 

 

 

8,012 

 

(58,618)

 

 

Total Other Comprehensive Income (Loss)

 

22,517 

 

25,209 

 

8,012 

 

26,066 

 

(58,618)

 

23,186 

 

Comprehensive Income (Loss)

 

193,439 

 

430,115 

 

36,762 

 

97,957 

 

(561,039)

 

197,234 

 

Comprehensive Income (Loss) Attributable to Noncontrolling Interests

 

 

 

 

3,795 

 

 

3,795 

 

Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated

 

$
193,439 

 

$
430,115 

 

$
36,762 

 

$
94,162 

 

$
(561,039)

 

$
193,439 

 

 

 

 

 

 

 

Year Ended December 31, 2013

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

Storage Rental

 

$—

 

$
1,174,978

 

$
129,987

 

$
479,756

 

$—

 

$
1,784,721

 

Service

 

 

754,090

 

35,119

 

450,693

 

 

1,239,902

 

Intercompany service

 

 

 

 

32,810

 

(32,810)

 

 

Total Revenues

 

 

1,929,068

 

165,106

 

963,259

 

(32,810)

 

3,024,623

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding depreciation and amortization)

 

 

771,271

 

27,354

 

490,253

 

 

1,288,878

 

Intercompany service cost of sales

 

 

 

32,810

 

 

(32,810)

 

 

Selling, general and administrative

 

227

 

655,052

 

15,792

 

252,960

 

 

924,031

 

Depreciation and amortization

 

319

 

195,794

 

12,383

 

113,541

 

 

322,037

 

Loss (Gain) on disposal/write-down of property, plant and equipment (excluding real estate), net

 

5

 

(100)

 

21

 

504

 

 

430

 

Total Operating Expenses

 

551

 

1,622,017

 

88,360

 

857,258

 

(32,810)

 

2,535,376

 

Operating (Loss) Income

 

(551)

 

307,051

 

76,746

 

106,001

 

 

489,247

 

Interest Expense (Income), Net

 

206,682

 

(19,731)

 

40,537

 

26,686

 

 

254,174

 

Other Expense (Income), Net

 

54,144

 

1,283

 

5,410

 

14,365

 

 

75,202

 

(Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes and (Gain) Loss on Sale of Real Estate

 

(261,377

)

325,499

 

30,799

 

64,950

 

 

159,871

 

(Benefit) Provision for Income Taxes

 

(16)

 

33,767

 

12,361

 

16,015

 

 

62,127

 

(Gain) Loss on Sale of Real Estate, Net of Tax

 

 

 

 

(1,417)

 

 

(1,417)

 

Equity in the (Earnings) Losses of Subsidiaries, Net of Tax

 

(357,823)

 

(63,775)

 

(5,681)

 

(18,438)

 

445,717

 

 

Income (Loss) from Continuing Operations

 

96,462

 

355,507

 

24,119

 

68,790

 

(445,717)

 

99,161

 

(Loss) Income from Discontinued Operations, Net of Tax

 

 

(529)

 

 

1,360

 

 

831

 

Net Income (Loss)

 

96,462

 

354,978

 

24,119

 

70,150

 

(445,717)

 

99,992

 

Less: Net Income (Loss) Attributable to Noncontrolling Interests

 

 

 

 

3,530

 

 

3,530

 

Net Income (Loss) Attributable to Iron Mountain Incorporated

 

$
96,462

 

$
354,978

 

$
24,119

 

$
66,620

 

$
(445,717)

 

$
96,462

 

Net Income (Loss)

 

$
96,462

 

$
354,978

 

$
24,119

 

$
70,150

 

$
(445,717)

 

$
99,992

 

Other Comprehensive Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Translation Adjustments

 

(3,237)

 

1,177

 

(11,096)

 

(18,376)

 

 

(31,532)

 

Market Value Adjustments for Securities

 

 

926

 

 

 

 

926

 

Equity in Other Comprehensive Income (Loss) of Subsidiaries

 

(25,737)

 

(26,862)

 

(4,037)

 

(11,096)

 

67,732

 

 

Total Other Comprehensive (Loss) Income

 

(28,974)

 

(24,759)

 

(15,133)

 

(29,472)

 

67,732

 

(30,606)

 

Comprehensive Income (Loss)

 

67,488

 

330,219)

 

8,986

 

40,678

 

(377,985)

 

69,386

 

Comprehensive Income (Loss) Attributable to Noncontrolling Interests

 

 

 

 

1,898

 

 

1,898

 

Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated

 

$
67,488

 

$
330,219

 

$
8,986

 

$
38,780

 

$
(377,985)

 

$
67,488

 

 

 

 

 

 

 

Year Ended December 31, 2014

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

Storage Rental

 

$—

 

$
1,208,380

 

$
124,551

 

$
527,312

 

$—

 

$
1,860,243

 

Service

 

 

749,711

 

68,669

 

439,070

 

 

1,257,450

 

Intercompany service

 

 

 

 

64,794

 

(64,794)

 

 

Total Revenues

 

 

1,958,091

 

193,220

 

1,031,176

 

(64,794)

 

3,117,693

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding depreciation and amortization)

 

 

793,274

 

23,040

 

528,322

 

 

1,344,636

 

Intercompany service cost of sales

 

 

 

64,794

 

 

(64,794)

 

 

Selling, general and administrative

 

1,182

 

580,568

 

13,304

 

274,518

 

 

869,572

 

Depreciation and amortization

 

225

 

214,341

 

11,797

 

126,780

 

 

353,143

 

Loss (Gain) on disposal/write-down of property, plant and equipment (excluding real estate), net

 

 

829

 

173

 

63

 

 

1,065

 

Total Operating Expenses

 

1,407

 

1,589,012

 

113,108

 

929,683

 

(64,794)

 

2,568,416

 

Operating (Loss) Income

 

(1,407)

 

369,079

 

80,112

 

101,493

 

 

549,277

 

Interest Expense (Income), Net

 

187,650

 

(23,295)

 

36,946

 

59,416

 

 

260,717

 

Other Expense (Income), Net

 

78

 

(203,380)

 

(91)

 

268,580

 

 

65,187

 

(Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes and (Gain) on Sale of Real Estate

 

(189,135)

 

595,754

 

43,257

 

(226,503)

 

 

223,373

 

(Benefit) Provision for Income Taxes

 

 

(114,947)

 

12,876

 

4,796

 

 

(97,275)

 

(Gain) on Sale of Real Estate

 

 

(196)

 

(832)

 

(7,279)

 

 

(8,307)

 

Equity in the (Earnings) Losses of Subsidiaries, Net of Tax

 

(515,254)

 

196,310

 

(992)

 

(31,215)

 

351,151

 

 

Income (Loss) from Continuing Operations

 

326,119

 

514,587

 

32,205

 

(192,805)

 

(351,151)

 

328,955

 

(Loss) Income from Discontinued Operations, Net of Tax

 

 

(937)

 

 

728

 

 

(209)

 

Net Income (Loss)

 

326,119

 

513,650

 

32,205

 

(192,077)

 

(351,151)

 

328,746

 

Less: Net Income (Loss) Attributable to Noncontrolling Interests

 

 

 

 

2,627

 

 

2,627

 

Net Income (Loss) Attributable to Iron Mountain Incorporated

 

$
326,119

 

$
513,650

 

$
32,205

 

$
(194,704)

 

$
(351,151)

 

$
326,119

 

Net Income (Loss)

 

$
326,119

 

$
513,650

 

$
32,205

 

$
(192,077

)

$
(351,151)

 

$
328,746

 

Other Comprehensive Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Currency Translation Adjustments

 

6,328

 

47

 

(10,306)

 

(62,936)

 

 

(66,867)

 

Market Value Adjustments for Securities

 

 

53

 

 

 

 

53

 

Equity in Other Comprehensive Income (Loss) of Subsidiaries

 

(72,662)

 

(73,696)

 

288

 

(10,306)

 

156,376

 

 

Total Other Comprehensive Income (Loss)

 

(66,334)

 

(73,596)

 

(10,018)

 

(73,242)

 

156,376

 

(66,814)

 

Comprehensive Income (Loss)

 

259,785

 

440,054

 

22,187

 

(265,319)

 

(194,775)

 

261,932

 

Comprehensive Income (Loss) Attributable to Noncontrolling Interests

 

 

 

 

2,184

 

 

2,184

 

Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated

 

$
259,785

 

$
440,054

 

$
22,187

 

$
(267,503)

 

$
(194,775)

 

$
259,748

 

 

 

Schedule of Selected Consolidated Statements of Cash Flows of Parent, Guarantors, Canada Company and Non-Guarantors

 

 

Year Ended December 31, 2012

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flows from Operating Activities-Continuing Operations

 

$
(195,478)

 

$
496,542 

 

$
37,299 

 

$
105,289 

 

$—

 

$
443,652 

 

Cash Flows from Operating Activities-Discontinued Operations

 

 

(8,814)

 

 

(2,102)

 

 

(10,916)

 

Cash Flows from Operating Activities

 

(195,478)

 

487,728 

 

37,299 

 

103,187 

 

 

432,736 

 

Cash Flows from Investing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(134,852)

 

(8,454)

 

(97,377)

 

 

(240,683)

 

Cash paid for acquisitions, net of cash acquired

 

 

(28,126)

 

 

(97,008)

 

 

(125,134)

 

Intercompany loans to subsidiaries

 

88,376 

 

(110,142)

 

 

 

21,766 

 

 

Investment in subsidiaries

 

(37,572)

 

(37,572)

 

 

 

75,144 

 

 

Investment in restricted cash

 

1,498 

 

 

 

 

 

1,498 

 

Additions to customer relationship and acquisition costs

 

 

(23,543)

 

(2,132)

 

(3,197)

 

 

(28,872)

 

Investment in joint ventures

 

(2,330)

 

 

 

 

 

(2,330)

 

Proceeds from sales of property and equipment and other, net (including real estate)

 

 

(1,739)

 

 

3,191 

 

 

1,457 

 

Cash Flows from Investing Activities-Continuing Operations

 

49,972 

 

(335,974)

 

(10,581)

 

(194,391)

 

96,910 

 

(394,064)

 

Cash Flows from Investing Activities-Discontinued Operations

 

 

(1,982)

 

 

(4,154)

 

 

(6,136)

 

Cash Flows from Investing Activities

 

49,972 

 

(337,956)

 

(10,581)

 

(198,545)

 

96,910 

 

(400,200)

 

Cash Flows from Financing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Repayment of revolving credit and term loan facilities and other debt

 

 

(2,774,070)

 

(58)

 

(70,565)

 

 

(2,844,693)

 

Proceeds from revolving credit and term loan facilities and other debt

 

 

2,680,107 

 

 

51,078 

 

 

2,731,185 

 

Early retirement of senior subordinated notes

 

(525,834)

 

 

 

 

 

(525,834)

 

Net proceeds from sales of senior subordinated notes

 

985,000 

 

 

 

 

 

985,000 

 

Debt financing (repayment to) and equity contribution from (distribution to) noncontrolling interests, net

 

 

 

 

480 

 

 

480 

 

Intercompany loans from parent

 

 

(89,878)

 

4,861 

 

106,783 

 

(21,766)

 

 

Equity contribution from parent

 

 

37,572 

 

 

37,572 

 

(75,144)

 

 

Stock repurchases

 

(38,052)

 

 

 

 

 

(38,052)

 

Parent cash dividends

 

(318,845)

 

 

 

 

 

(318,845)

 

Proceeds from exercise of stock options and employee stock purchase plan

 

40,244 

 

 

 

 

 

40,244 

 

Excess tax benefits (deficiency) from stock-based compensation

 

1,045 

 

 

 

 

 

1,045 

 

Payment of debt financing and stock issuance costs

 

(1,480)

 

(781)

 

 

 

 

(2,261)

 

Cash Flows from Financing Activities-Continuing Operations

 

142,078 

 

(147,050)

 

4,803 

 

125,348 

 

(96,910)

 

28,269 

 

Cash Flows from Financing Activities-Discontinued Operations

 

 

 

 

(39)

 

 

(39)

 

Cash Flows from Financing Activities

 

142,078 

 

(147,050)

 

4,803 

 

125,309 

 

(96,910)

 

28,230 

 

Effect of exchange rates on cash and cash equivalents

 

 

 

1,880 

 

924 

 

 

2,804 

 

(Decrease) Increase in cash and cash equivalents

 

(3,428)

 

2,722 

 

33,401 

 

30,875 

 

 

63,570 

 

Cash and cash equivalents, beginning of year

 

3,428 

 

10,750 

 

69,945 

 

95,722 

 

 

179,845 

 

Cash and cash equivalents, end of year

 

$—

 

$
13,472 

 

$
103,346 

 

$
126,597 

 

$—

 

$
243,415 

 

 

 

 

 

 

Year Ended December 31, 2013

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flows from Operating Activities-Continuing Operations

 

$
(195,786)

 

$
528,011 

 

$
28,580 

 

$
145,788 

 

$—

 

$
506,593 

 

Cash Flows from Operating Activities-Discontinued Operations

 

 

(129)

 

 

1,082 

 

 

953 

 

Cash Flows from Operating Activities

 

(195,786)

 

527,882 

 

28,580 

 

146,870 

 

 

507,546 

 

Cash Flows from Investing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(180,047)

 

(6,534)

 

(100,714)

 

 

(287,295)

 

Cash paid for acquisitions, net of cash acquired

 

 

(212,042)

 

 

(105,058)

 

 

(317,100)

 

Intercompany loans to subsidiaries

 

387,299 

 

398,299 

 

 

 

(785,598)

 

 

Investment in subsidiaries

 

(63,149)

 

(63,149)

 

 

 

126,298 

 

 

Investment in restricted cash

 

(248)

 

 

 

 

 

(248)

 

Additions to customer relationship and acquisition costs

 

 

(18,083)

 

(498)

 

(11,610)

 

 

(30,191)

 

Proceeds from sales of property and equipment and other, net (including real estate)

 

 

54 

 

(3,175)

 

5,205 

 

 

2,084 

 

Cash Flows from Investing Activities-Continuing Operations

 

323,902 

 

(74,968)

 

(10,207)

 

(212,177)

 

(659,300)

 

(632,750)

 

Cash Flows from Investing Activities-Discontinued Operations

 

 

(4,937)

 

 

 

 

(4,937)

 

Cash Flows from Investing Activities

 

323,902 

 

(79,905)

 

(10,207)

 

(212,177)

 

(659,300)

 

(637,687)

 

Cash Flows from Financing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Repayment of revolving credit and term loan facilities and other debt

 

 

(5,077,356)

 

(341,336)

 

(107,980)

 

 

(5,526,672)

 

Proceeds from revolving credit and term loan facilities and other debt

 

 

4,948,691 

 

438,188 

 

274,871 

 

 

5,661,750 

 

Early retirement of senior subordinated notes

 

(514,239)

 

 

(170,895)

 

 

 

(685,134)

 

Net proceeds from sales of senior notes

 

591,000 

 

 

191,307 

 

 

 

782,307 

 

Debt financing (repayment to) and equity contribution from (distribution to) noncontrolling interests, net

 

(14,852)

 

 

 

(3,384)

 

 

(18,236)

 

Intercompany loans from parent

 

 

(379,910)

 

(232,436)

 

(173,252)

 

785,598 

 

 

Equity contribution from parent

 

 

63,149 

 

 

63,149 

 

(126,298)

 

 

Parent cash dividends

 

(206,798)

 

 

 

 

 

(206,798)

 

Proceeds from exercise of stock options and employee stock purchase plan

 

17,664 

 

 

 

 

 

17,664 

 

Excess tax benefits (deficiency) from stock-based compensation

 

2,389 

 

 

 

 

 

2,389 

 

Payment of debt financing and stock issuance costs

 

(2,037)

 

(5,657)

 

(750)

 

(262)

 

 

(8,706)

 

Cash Flows from Financing Activities-Continuing Operations

 

(126,873)

 

(451,083)

 

(115,922)

 

53,142 

 

659,300 

 

18,564 

 

Cash Flows from Financing Activities-Discontinued Operations

 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

(126,873)

 

(451,083)

 

(115,922)

 

53,142 

 

659,300 

 

18,564 

 

Effect of exchange rates on cash and cash equivalents

 

 

 

(4,703)

 

(6,609)

 

 

(11,312)

 

Increase (Decrease) in cash and cash equivalents

 

1,243 

 

(3,106)

 

(102,252)

 

(18,774)

 

 

(122,889)

 

Cash and cash equivalents, beginning of year

 

 

13,472 

 

103,346 

 

126,597 

 

 

243,415 

 

Cash and cash equivalents, end of year

 

$
1,243 

 

$
10,366 

 

$
1,094 

 

$
107,823 

 

$—

 

$
120,526 

 

 

 

 

 

 

Year Ended December 31, 2014

 

 

 

Parent

 

Guarantors

 

Canada
Company

 

Non-
Guarantors

 

Eliminations

 

Consolidated

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flows from Operating Activities-Continuing Operations

 

$
(192,058)

 

$
452,577 

 

$
55,538 

 

$
156,891 

 

$—

 

$
472,948 

 

Cash Flows from Operating Activities-Discontinued Operations

 

 

 

 

 

 

 

Cash Flows from Operating Activities

 

(192,058)

 

452,577 

 

55,538 

 

156,891 

 

 

472,948 

 

Cash Flows from Investing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(217,924)

 

(6,877)

 

(137,123)

 

 

(361,924)

 

Cash paid for acquisitions, net of cash acquired

 

 

(3,371)

 

(29,016)

 

(95,706)

 

 

(128,093)

 

Intercompany loans to subsidiaries

 

1,307,133 

 

112,845 

 

 

 

(1,419,978)

 

 

Investment in subsidiaries

 

(48,203)

 

(48,203)

 

 

 

96,406 

 

 

Additions to customer relationship and acquisition costs

 

 

(26,788)

 

(2,140)

 

(5,519)

 

 

(34,447)

 

Proceeds from sales of property and equipment and other, net (including real estate)

 

 

2,641 

 

1,871 

 

39,974 

 

 

44,486 

 

Cash Flows from Investing Activities-Continuing Operations

 

1,258,930 

 

(180,800)

 

(36,162)

 

(198,374)

 

(1,323,572)

 

(479,978)

 

Cash Flows from Investing Activities-Discontinued Operations

 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

1,258,930 

 

(180,800)

 

(36,162)

 

(198,374)

 

(1,323,572)

 

(479,978)

 

Cash Flows from Financing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Repayment of revolving credit and term loan facilities and other debt

 

 

(7,949,523)

 

(667,505)

 

(207,683)

 

 

(8,824,711)

 

Proceeds from revolving credit and term loan facilities and other debt

 

 

8,327,608 

 

645,848 

 

311,731 

 

 

9,285,187 

 

Early retirement of senior subordinated notes

 

(566,352)

 

 

 

 

 

(566,352)

 

Net proceeds from sales of senior notes

 

 

 

 

642,417 

 

 

642,417 

 

Debt financing (repayment to) and equity contribution from (distribution to) noncontrolling interests, net

 

 

5,716 

 

 

(20,486)

 

 

(14,770)

 

Intercompany loans from parent

 

 

(708,935)

 

5,866 

 

(716,909)

 

1,419,978 

 

 

Equity contribution from parent

 

 

48,203 

 

 

48,203 

 

(96,406)

 

 

Parent cash dividends

 

(542,298)

 

 

 

 

 

(542,298)

 

Proceeds from exercise of stock options and employee stock purchase plan

 

44,290 

 

 

 

 

 

44,290 

 

Excess tax deficiency from stock-based compensation

 

(60)

 

 

 

 

 

(60)

 

Payment of debt financing costs and stock issuance costs

 

(1,296)

 

(499)

 

(12)

 

(2,039)

 

 

(3,846)

 

Cash Flows from Financing Activities-Continuing Operations

 

(1,065,716)

 

(277,430)

 

(15,803)

 

55,234 

 

1,323,572 

 

19,857 

 

Cash Flows from Financing Activities-Discontinued Operations

 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

(1,065,716)

 

(277,430)

 

(15,803)

 

55,234 

 

1,323,572 

 

19,857 

 

Effect of exchange rates on cash and cash equivalents

 

 

 

312 

 

(7,732)

 

 

(7,420)

 

Increase (Decrease) in cash and cash equivalents

 

1,156 

 

(5,653)

 

3,885 

 

6,019 

 

 

5,407 

 

Cash and cash equivalents, beginning of year

 

1,243 

 

10,366 

 

1,094 

 

107,823 

 

 

120,526 

 

Cash and cash equivalents, end of year

 

$
2,399 

 

$
4,713 

 

$
4,979 

 

$
113,842 

 

$—

 

$
125,933