XML 28 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 483,168 $ 530,228 $ 463,975
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 294,077 230,203 206,086
Impairment on Mekonomen equity method investment 70,895 0 0
Impairment of goodwill 33,244 0 0
Stock-based compensation expense 22,760 22,832 22,472
Loss on debt extinguishment 1,350 456 26,650
Loss on sale of business 0 10,796 0
Impairment on net assets of discontinued operations 0 0 26,677
Gains on foreign exchange contracts - acquisition related 0 0 (18,342)
Gains on bargain purchases (2,418) (3,870) (8,207)
Deferred income taxes (2,180) (46,537) (16,162)
Other 9,534 1,301 19,550
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:      
Receivables, net 241 (55,979) (50,801)
Inventories (127,153) (203,857) (64,114)
Prepaid income taxes/income taxes payable (2,125) 8,376 14,944
Accounts payable (77,621) 45,136 18,577
Other operating assets and liabilities 6,967 (20,185) (6,291)
Net cash provided by operating activities 710,739 518,900 635,014
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (250,027) (179,090) (207,074)
Proceeds from Disposal of Property, Plant, and Equipment 27,659 8,707 3,510
Acquisitions, net of cash and restricted cash acquired (1,214,995) (513,088) (1,349,339)
Proceeds from disposals of business/investment 0 301,297 10,304
Investments in unconsolidated subsidiaries (60,300) (7,664) (185,671)
Proceeds from foreign exchange contracts 0 0 18,342
Receipts of deferred purchase price on receivables under factoring arrangements 36,991 0 0
Other investing activities, net 1,733 5,243 0
Net cash used in investing activities (1,458,939) (384,595) (1,709,928)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from exercise of stock options 5,303 7,470 7,963
Taxes paid related to net share settlements of stock-based compensation awards (5,567) (5,525) (4,438)
Debt issuance costs (21,128) (4,267) (16,554)
Proceeds from issuance of Euro Notes (2024) 0 0 563,450
Proceeds from issuance of Euro Notes (2026/28) 1,232,100 0 0
Purchase of treasury stock 60,000 0 0
Borrowings under revolving credit facilities 1,667,325 839,171 2,636,596
Repayments under revolving credit facilities (1,528,970) (946,477) (1,748,664)
Borrowings under term loans 0 0 582,115
Repayments under term loans (354,800) (27,884) (255,792)
Borrowings under receivables securitization facility 10,120 11,245 106,400
Repayments under receivables securitization facility (120) (11,245) (69,400)
Repayments of assumed debt and notes issued from acquisitions (54,888) 0 0
(Repayments) borrowings of other debt, net (11,730) 19,706 (31,156)
Repayment of Rhiag debt and related payments 0 0 (543,347)
Other financing activities, net (5,350) (5,239) 1,436
Net cash provided by (used in) financing activities 882,995 (112,567) 1,225,737
Effect of exchange rate changes on cash, cash equivalents and restricted cash (77,311) 23,512 (3,704)
Net increase in cash, cash equivalents and restricted cash 57,484 45,250 147,119
Cash, cash equivalents and restricted cash of continuing operations, beginning of period 279,766 227,400 87,397
Add: Cash, cash equivalents and restricted cash of discontinued operations, beginning of period 0 (7,116) 0
Cash, cash equivalents and restricted cash of continuing and discontinued operations, beginning of period 279,766 234,516 87,397
Cash, cash equivalents and restricted cash, end of period 337,250 279,766 234,516
Reconciliation Of Cash, Cash Equivalents And Restricted Cash [Abstract]      
Cash and Cash Equivalents 331,761 279,766 227,400
Restricted Cash 5,489 0 0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 337,250 279,766 227,400
Supplemental disclosure of cash paid for:      
Income taxes, net of refunds 200,098 273,019 230,036
Interest 137,866 95,707 86,021
Supplemental disclosure of noncash investing and financing activities:      
Stock issued in acquisitions 251,334 0 0
Contingent consideration liabilities 3,107 6,234 0
Notes payable and other financing obligations, including notes issued and debt assumed in connection with business acquisitions/investment 105,566 59,045 568,032
Noncash property, plant and equipment additions 16,518 18,122 10,715
Notes and other financing receivables in connection with disposals of business/investment $ 0 $ 4,000 $ 0