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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 41,190 $ 63,336
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 4,245 3,675
Amortization of intangibles 28,174 27,466
Amortization of operating lease assets 4,030 0
Asset impairment charges 0 2,149
Amortization of prepaid product discounts 5,757 5,408
Deferred income taxes 1,640 (233)
Employee share-based compensation expense 3,760 2,962
Loss (gain) on sales of businesses and customer lists 99 (7,228)
Other non-cash items, net 3,038 1,361
Changes in assets and liabilities, net of effect of acquisitions:    
Trade accounts receivable 15,927 12,763
Inventories and supplies 1,322 (189)
Other current assets (6,231) (3,536)
Non-current assets (1,557) (2,444)
Accounts payable (15,069) (3,789)
Prepaid product discount payments (9,189) (5,364)
Other accrued and non-current liabilities (31,737) (15,549)
Net cash provided by operating activities 45,399 80,788
Cash flows from investing activities:    
Purchases of capital assets (14,619) (14,034)
Payments for acquisitions, net of cash acquired (444) (52,369)
Purchases of customer funds marketable securities (42) (46)
Proceeds from customer funds marketable securities 42 46
Other 236 (450)
Net cash used by investing activities (14,827) (66,853)
Cash flows from financing activities:    
Proceeds from issuing long-term debt 82,500 824,625
Payments on long-term debt (46,500) (792,200)
Net change in customer funds obligations (9,908) 10,293
Proceeds from issuing shares under employee plans 1,548 5,169
Employee taxes paid for shares withheld (2,672) (4,557)
Payments for common shares repurchased (50,000) (19,996)
Cash dividends paid to shareholders (13,118) (14,393)
Other (1,257) (3,205)
Net cash (used) provided by financing activities (39,407) 5,736
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents 2,076 (2,011)
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents (6,759) 17,660
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year 145,259 128,819
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period $ 138,500 $ 146,479