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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 173,553 $ 121,887 $ 129,437
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 76,650 83,003 71,564
Impairment of fixed assets 0 48,551 0
Equity method earnings 0 (456) (1,048)
Gain on step acquisition 0 (13,644) 0
Loss on extinguishment of debt 0 7,220 0
Foreign currency (gains)/losses 3,829 16,381 (3,014)
Stock-based compensation 9,909 26,609 19,314
Deferred taxes 1,965 (14,929) 39,213
Non-cash lease expense 44,460 0 0
Changes in operating assets and liabilities:      
Accounts receivable 2,746 (10,453) (103)
Inventories, net 18,446 (33,371) 7,537
Prepaid expenses and other (17,435) (1,536) 14,250
Other assets (67,109) 887 (11,658)
Accounts payable (7,184) (9,164) 6,834
Accrued expenses (86,997) (7,433) 22,490
Other liabilities 25,098 (10,814) 7,739
Net cash provided by operating activities 177,931 202,738 302,555
Cash flows from investing activities:      
Purchases of property and equipment (66,067) (70,371) (60,156)
Proceeds on investment sales 11,160 11,536 11,269
Purchases of investments (8,432) (11,420) (11,332)
Acquisitions (net of cash acquired) (8,073) (38,506) (31,745)
Net cash used in investing activities (71,412) (108,761) (91,964)
Cash flows from financing activities:      
Payment of cash dividends (82,189) (80,581) (76,058)
Repurchase of shares of common stock (825) (69,565) (71,731)
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards (2,325) 10,777 24,443
Payments on long-term debt (214,455) (552,500) (103,226)
Payment of debt issuance costs 0 (7,243) 0
Proceeds from long-term debt 145,000 582,398 67,000
Net cash used in financing activities (154,794) (116,714) (159,572)
Effect of exchange rate changes on cash (3,006) (16,751) 18,134
Net increase (decrease) in cash and cash equivalents (51,281) (39,488) 69,153
Cash and cash equivalents, beginning of period 386,911 426,399 357,246
Cash and cash equivalents, end of period $ 335,630 $ 386,911 $ 426,399