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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 59,985 $ 57,407
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,721 5,685
(Gain) loss on sale of assets 7 (1,595)
Provision for bad debts, net 962 1,197
Non-cash stock compensation and other charges 7,966 5,399
Non-cash interest and other (income) loss 958 1,340
Excess tax benefits from stock-based compensation 1,404 4,613
Deferred income taxes 4,030 (2,095)
Equity (earnings) losses from unconsolidated joint ventures, net of distributions received 2,193 2,781
Changes in assets and liabilities:    
Receivables (39,058) (28,856)
Advances to/from marketing and reservation activities, net (42,671) 3,724
Forgivable notes receivable, net (13,174) (19,186)
Accounts payable 10,567 16,990
Accrued expenses and other current liabilities (8,842) (6,969)
Income taxes payable/receivable 9,059 2,450
Deferred revenue 42,164 4,041
Other assets (10,834) (5,152)
Other liabilities (2,576) 769
Net cash provided by operating activities 27,861 42,543
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in property and equipment (10,912) (14,554)
Proceeds from sales of assets 1,700 6,283
Acquisitions of real estate (25,389) 0
Contributions to equity method investments (19,688) (2,446)
Distributions from equity method investments 3,619 270
Purchases of investments, employee benefit plans (1,140) (1,736)
Proceeds from sales of investments, employee benefit plans 1,136 1,087
Issuance of mezzanine and other notes receivable (13,048) (1,500)
Collections of mezzanine and other notes receivable 10,158 3,567
Other items, net (311) (261)
Net cash used by investing activities (53,875) (9,290)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings pursuant to revolving credit facilities 87,950 13,000
Principal payments on long-term debt (623) (6,169)
Purchases of treasury stock (28,278) (6,244)
Dividends paid (23,193) (22,940)
Proceeds from exercise of stock options 4,234 5,696
Net cash provided (used) by financing activities 40,090 (16,657)
Net change in cash and cash equivalents 14,076 16,596
Effect of foreign exchange rate changes on cash and cash equivalents 371 (825)
Cash and cash equivalents at beginning of period 193,441 214,879
Cash and cash equivalents at end of period 207,888 230,650
Cash payments during the period for:    
Income taxes, net of refunds 12,500 21,052
Interest, net of capitalized interest 21,035 19,800
Non-cash investing and financing activities:    
Dividends declared but not paid 11,498 11,233
Investment in property and equipment acquired in accounts payable 674 1,658
Non-cash sale of investment in unconsolidated joint venture $ 2,350 $ 0