Supplemental Guarantor Information

Cintas Corporation No. 2 (Corp. 2) is the indirectly, wholly-owned principal operating subsidiary of Cintas. Corp. 2 is the issuer of the $3,156.0 million aggregate principal amount of outstanding debt, which is unconditionally guaranteed, jointly and severally, by Cintas Corporation and its wholly-owned, direct and indirect domestic subsidiaries.

As allowed by SEC rules, the following condensed consolidating financial statements are provided as an alternative to filing separate financial statements of the guarantors. Each of the subsidiaries presented in the following condensed consolidating financial statements has been fully consolidated in Cintas' consolidated financial statements. The following condensed consolidating financial statements should be read in conjunction with the consolidated financial statements of Cintas and notes thereto of which this note is an integral part. During fiscal 2017, the Company merged a legal entity previously included in subsidiary guarantors into Corp. 2. This restructuring has been reflected as of the beginning of the earliest period presented herein. Additionally, in conjunction with the G&K acquisition, the acquired U.S. legal entities are included in Corp. 2 and the acquired Canadian legal entities are included with the Non-guarantors.

Condensed consolidating financial statements for Cintas, Corp. 2, the subsidiary guarantors and non-guarantors are presented on the following pages:

Condensed Consolidating Income Statement



Year Ended May 31, 2017 (in thousands)	Cintas Corporation		Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Revenue:
Uniform rental and facility services	$	—	$	3,511,483		$	604,679		$	257,288		$	(170,960	)	$	4,202,490
Other	—		1,604,877			1,810			73,006			(558,802		)	1,120,891
Equity in net income of affiliates	457,286		—			—			—			(457,286		)	—
	457,286		5,116,360			606,489			330,294			(1,187,048		)	5,323,381
Costs and expenses (income):
Cost of uniform rental and facility services	—		2,021,365			378,404			164,969			(256,964		)	2,307,774
Cost of other	—		1,070,780			(41,509		)	56,210			(450,169		)	635,312
Selling and administrative expenses	—		1,686,209			(220,887		)	87,672			(25,614		)	1,527,380
G&K Services, Inc. transaction and integration expenses	—		51,868			19,060			8,296			—			79,224
Operating income	457,286		286,138			471,421			13,147			(454,301		)	773,691

Interest income	—		(26		)	(191		)	(22		)	2			(237		)
Interest expense (income)	—		89,706			(2,978		)	(204		)	—			86,524

Income before income taxes	457,286		196,458			474,590			13,373			(454,303		)	687,404
Income taxes	—		65,829			159,025			5,365			(101		)	230,118
Income from continuing operations	457,286		130,629			315,565			8,008			(454,202		)	457,286
Income from discontinued operations, net of tax	23,422		22,287			—			1,135			(23,422		)	23,422
Net income	$	480,708	$	152,916		$	315,565		$	9,143		$	(477,624	)	$	480,708

Condensed Consolidating Income Statement



Year Ended May 31, 2016 (in thousands)	Cintas Corporation		Corp. 2		Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Revenue:
Uniform rental and facility services	$	—	$	3,147,844	$	553,414		$	213,526		$	(155,260	)	$	3,759,524
Other	—		1,484,556		8,540			66,270			(523,118		)	1,036,248
Equity in net income of affiliates	448,605		—		—			—			(448,605		)	—
	448,605		4,632,400		561,954			279,796			(1,126,983		)	4,795,772
Costs and expenses (income):
Cost of uniform rental and facility services	—		1,835,835		350,500			142,601			(236,103		)	2,092,833
Cost of other	—		1,001,576		(40,741		)	48,539			(407,775		)	601,599
Selling and administrative expenses	—		1,497,106		(206,889		)	69,257			(27,075		)	1,332,399
Operating income	448,605		297,883		459,084			19,399			(456,030		)	768,941

Interest income	—		—		(666		)	(232		)	2			(896		)
Interest expense (income)	—		65,534		(1,027		)	15			—			64,522

Income before income taxes	448,605		232,349		460,777			19,616			(456,032		)	705,315
Income taxes	—		82,783		164,169			9,874			(116		)	256,710
Income from continuing operations	448,605		149,566		296,608			9,742			(455,916		)	448,605
Income (loss) from discontinued operations, net of tax	244,915		250,625		—			(5,837		)	(244,788		)	244,915
Net income	$	693,520	$	400,191	$	296,608		$	3,905		$	(700,704	)	$	693,520

Condensed Consolidating Income Statement



Year Ended May 31, 2015 (in thousands)	Cintas Corporation		Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Revenue:
Uniform rental and facility services	$	—	$	2,919,526		$	507,481		$	229,391		$	(137,199	)	$	3,519,199
Other	—		1,303,204			(8,173		)	57,349			(501,902		)	850,478
Equity in net income of affiliates	402,553		—			—			—			(402,553		)	—
	402,553		4,222,730			499,308			286,740			(1,041,654		)	4,369,677
Costs and expenses (income):
Cost of uniform rental and facility services	—		1,781,651			271,512			154,601			(215,099		)	1,992,665
Cost of other	—		830,459			11,028			37,628			(395,026		)	484,089
Selling and administrative expenses	—		1,343,361			(182,290		)	74,523			(26,310		)	1,209,284
Operating income	402,553		267,259			399,058			19,988			(405,219		)	683,639

Gain on sale of stock of an equity method investment	—		—			21,739			—			—			21,739

Interest income	—		(12		)	(250		)	(79		)	2			(339		)
Interest expense (income)	—		66,298			(1,134		)	(3		)	—			65,161

Income before income taxes	402,553		200,973			422,181			20,070			(405,221		)	640,556
Income taxes			74,307			156,097			7,665			(66		)	238,003
Income from continuing operations	402,553		126,666			266,084			12,405			(405,155		)	402,553
Income from discontinued operations, net of tax	28,065		23,271			—			4,596			(27,867		)	28,065
Net income	$	430,618	$	149,937		$	266,084		$	17,001		$	(433,022	)	$	430,618

Condensed Consolidating Statement of Comprehensive Income



Year Ended May 31, 2017 (in thousands)	Cintas Corporation			Corp. 2		Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Net income	$	480,708		$	152,916	$	315,565		$	9,143		$	(477,624	)	$	480,708

Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(10,252		)	—		—			(10,252		)	10,252			(10,252		)
Change in fair value of cash flow hedges	31,136			31,136		—			—			(31,136		)	31,136
Amortization of interest rate lock agreements	1,076			1,076		—			—			(1,076		)	1,076
Other	(115		)	—		(115		)	—			115			(115		)

Other comprehensive income (loss)	21,845			32,212		(115		)	(10,252		)	(21,845		)	21,845

Comprehensive income (loss)	$	502,553		$	185,128	$	315,450		$	(1,109	)	$	(499,469	)	$	502,553

Condensed Consolidating Statement of Comprehensive Income



Year Ended May 31, 2016 (in thousands)	Cintas Corporation		Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Net income	$	693,520	$	400,191		$	296,608		$	3,905		$	(700,704	)	$	693,520

Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	—		—			—			(11,933		)	—			(11,933		)
Cumulative translation adjustment on Shred-it	—		5,875			—			597			—			6,472
Change in fair value of cash flow hedges	—		(12,156		)	—			—			—			(12,156		)
Amortization of interest rate lock agreements	—		1,952			—			—			—			1,952
Other	—		—			(730		)	(8		)	—			(738		)

Other comprehensive loss	—		(4,329		)	(730		)	(11,344		)	—			(16,403		)

Comprehensive income (loss)	$	693,520	$	395,862		$	295,878		$	(7,439	)	$	(700,704	)	$	677,117

Condensed Consolidating Statement of Comprehensive Income



Year Ended May 31, 2015 (in thousands)	Cintas Corporation		Corp. 2		Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Net income	$	430,618	$	149,937	$	266,084		$	17,001		$	(433,022	)	$	430,618

Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	—		—		—			(38,538		)	—			(38,538		)
Change in fair value of cash flow hedges	—		—		—			37			—			37
Amortization of interest rate lock agreements	—		1,952		—			—			—			1,952
Other	—		—		(361		)	11			—			(350		)

Other comprehensive income (loss)	—		1,952		(361		)	(38,490		)	—			(36,899		)

Comprehensive income (loss)	$	430,618	$	151,889	$	265,723		$	(21,489	)	$	(433,022	)	$	393,719

Condensed Consolidating Balance Sheet



As of May 31, 2017 (in thousands)	Cintas Corporation			Corp. 2			Subsidiary Guarantors		Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Assets
Current assets:
Cash and cash equivalents	$	—		$	48,658		$	17,302	$	103,306		$	—		$	169,266
Marketable securities	—			—			—		22,219			—			22,219
Accounts receivable, net	—			543,769			137,881		54,358			—			736,008
Inventories, net	—			243,677			21,466		14,461			(1,386		)	278,218
Uniforms and other rental items in service	—			531,295			78,012		45,388			(18,993		)	635,702
Income taxes, current	—			16,173			25,138		3,009			—			44,320
Prepaid expenses and other current assets	—			13,234			16,188		710			—			30,132
Assets held for sale	—			23,095			15,518		—			—			38,613
Total current assets	—			1,419,901			311,505		243,451			(20,379		)	1,954,478

Property and equipment, at cost, net	—			851,018			364,724		107,759			—			1,323,501

Investments⁽¹⁾	321,083			3,605,457			929,657		1,711,070			(6,402,479		)	164,788
Goodwill	—			—			2,742,898		39,549			(112		)	2,782,335
Service contracts, net	—			505,698			—		81,290			—			586,988
Other assets, net	1,516,463			14,705			3,489,653		11,983			(5,000,837		)	31,967
	$	1,837,546		$	6,396,779		$	7,838,437	$	2,195,102		$	(11,423,807	)	$	6,844,057

Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	(465,247	)	$	(1,596,731	)	$	2,292,388	$	(91,467	)	$	38,108		$	177,051
Accrued compensation and related liabilities	—			94,505			42,866		12,264			—			149,635
Accrued liabilities	—			191,819			219,303		18,687			—			429,809
Liabilities held for sale	—			11,457			—		—			—			11,457
Debt due within one year	—			362,900			—		—			—			362,900
Total current liabilities	(465,247		)	(936,050		)	2,554,557		(60,516		)	38,108			1,130,852

Long-term liabilities:
Debt due after one year	—			2,770,234			—		390			—			2,770,624
Deferred income taxes	—			—			436,613		32,715			—			469,328
Accrued liabilities	—			28,384			140,923		1,153			—			170,460
Total long-term liabilities	—			2,798,618			577,536		34,258			—			3,410,412
Total shareholders' equity	2,302,793			4,534,211			4,706,344		2,221,360			(11,461,915		)	2,302,793
	$	1,837,546		$	6,396,779		$	7,838,437	$	2,195,102		$	(11,423,807	)	$	6,844,057

⁽¹⁾Investments include inter company investment activity. Corp 2 and Subsidiary Guarantors hold $29.0 million and $135.8 million, respectively, of the $164.8 million consolidated net investments.

Condensed Consolidating Balance Sheet



As of May 31, 2016 (in thousands)	Cintas Corporation			Corp. 2			Subsidiary Guarantors		Non- Guarantors		Eliminations			Cintas Corporation Consolidated

Assets
Current assets:
Cash and cash equivalents	$	—		$	57,894		$	55,391	$	26,072	$	—		$	139,357
Marketable securities	—			—			—		70,405		—			70,405
Accounts receivable, net	—			413,645			97,516		35,327		—			546,488
Inventories, net	—			222,822			19,150		11,235		(3,845		)	249,362
Uniforms and other rental items in service	—			448,395			73,001		36,612		(19,722		)	538,286
Income taxes, current	—			(151		)	1,215		648		—			1,712
Prepaid expenses and other current assets	—			6,708			18,278		962		—			25,948
Assets held for sale	—			19,021			—		—		—			19,021
Total current assets	—			1,168,334			264,551		181,261		(23,567		)	1,590,579

Property and equipment, at cost, net	—			614,111			305,636		73,945		—			993,692

Investments ⁽¹⁾	321,083			1,770,303			901,772		941,396		(3,809,602		)	124,952
Goodwill	—			—			1,241,145		35,043		(112		)	1,276,076
Service contracts, net	—			75,941			13		2,240		—			78,194
Other assets, net	1,081,203			—			3,338,742		9,110		(4,414,772		)	14,283
Long-term assets held for sale	—			5,521			15,518		—		—			21,039
	$	1,402,286		$	3,634,210		$	6,067,377	$	1,242,995	$	(8,248,053	)	$	4,098,815

Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	(465,247	)	$	(1,775,092	)	$	2,296,493	$	16,781	$	38,005		$	110,940
Accrued compensation and related liabilities	—			72,959			23,052		5,380		—			101,391
Accrued liabilities	—			78,471			251,217		13,578		—			343,266
Liabilities held for sale	—			9,958			—		—		—			9,958
Debt due within one year	—			250,000			—		—		—			250,000
Total current liabilities	(465,247		)	(1,363,704		)	2,570,762		35,739		38,005			815,555

Long-term liabilities:
Debt due after one year	—			1,044,032			—		390		—			1,044,422
Deferred income taxes	—			(427		)	252,149		7,753		—			259,475
Accrued liabilities	—			19,628			116,091		985		—			136,704
Total long-term liabilities	—			1,063,233			368,240		9,128		—			1,440,601
Total shareholders' equity	1,867,533			3,934,681			3,128,375		1,198,128		(8,286,058		)	1,842,659
	$	1,402,286		$	3,634,210		$	6,067,377	$	1,242,995	$	(8,248,053	)	$	4,098,815

⁽¹⁾Investments include inter company investment activity. Corp 2 and Subsidiary Guarantors hold $15.5 million and $109.5 million, respectively, of the $125.0 million consolidated net investments.

Condensed Consolidating Statement of Cash Flows



Year Ended May 31, 2017 (in thousands)	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Cash flows from operating activities:
Net income	$	480,708		$	152,916		$	315,565		$	9,143		$	(477,624	)	$	480,708
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	—			117,578			43,660			10,327			—			171,565
Amortization of intangible assets	—			21,496			1,178			2,356			—			25,030
Stock-based compensation	88,868			—			—			—			—			88,868
Gain on Storage	—			(1,460		)	—			—			—			(1,460		)
Gain on Shred-it	—			(23,516		)	—			(1,941		)	—			(25,457		)
Asset impairment charge	—			20,966			—			2,365			—			23,331
G&K Services, Inc. transaction and integration costs	—			26,453			—			4,992			—			31,445
Short-term debt financing fees included in net income	—			17,062			—			—			—			17,062
Settlement of cash flow hedges	—			30,194			—			—			—			30,194
Deferred income taxes	—			(26,289		)	26,058			4,133			—			3,902
Changes in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	—			(50,012		)	(40,380		)	(3,165		)	—			(93,557		)
Inventories, net	—			7,787			(2,317		)	(3,679		)	(2,459		)	(668		)
Uniforms and other rental items in service	—			(4,951		)	(5,011		)	1,959			(729		)	(8,732		)
Prepaid expenses and other current assets	—			21,119			2,775			307			—			24,201
Accounts payable	—			1,765,713			(1,509,215		)	(242,875		)	103			13,726
Accrued compensation and related liabilities	—			(7,498		)	19,815			1,337			—			13,654
Accrued liabilities and other	—			2,813			(5,675		)	2,361			—			(501		)
Income taxes, current	—			(5,205		)	(22,445		)	(1,774		)	—			(29,424		)
Net cash provided by (used in) operating activities	569,576			2,065,166			(1,175,992		)	(214,154		)	(480,709		)	763,887

Cash flows from investing activities:
Capital expenditures	—			(153,963		)	(102,682		)	(16,672		)	—			(273,317		)
Proceeds from redemption of marketable securities	—			—			—			218,324			—			218,324
Purchase of marketable securities and investments	—			18,150			(797,559		)	598,344			—			(181,065		)
Proceeds from sale of Storage	—			2,400			—			—			—			2,400
Proceeds from sale of Shred-it	—			23,935			—			1,941			—			25,876
Acquisitions of businesses, net of cash acquired	—			(2,112,015		)	—			9,644			—			(2,102,371		)
Other, net	(438,344		)	(1,562,294		)	2,039,740			(520,007		)	480,709			(196		)
Net cash (used in) provided by investing activities	(438,344		)	(3,783,787		)	1,139,499			291,574			480,709			(2,310,349		)

Cash flows from financing activities:
Proceeds from issuance of commercial paper, net	—			50,500			—			—			—			50,500
Proceeds from issuance of debt, net	—			1,932,229			(2,000		)	2,000			—			1,932,229
Repayment of debt	—			(250,000		)	—			—			—			(250,000		)
Payment of short-term debt financing fees	—			(17,062		)	—			—			—			(17,062		)
Proceeds from exercise of stock-based compensation awards	31,870			—			—			—			—			31,870
Dividends paid	(142,378		)	—			—			(55		)	—			(142,433		)
Repurchase of common stock	(20,724		)	—			—			—			—			(20,724		)
Other, net	—			(6,282		)	404			—			—			(5,878		)
Net cash (used in) provided by financing activities	(131,232		)	1,709,385			(1,596		)	1,945			—			1,578,502

Effect of exchange rate changes on cash and cash equivalents	—			—			—			(2,131		)	—			(2,131		)
Net (decrease) increase in cash and cash equivalents	—			(9,236		)	(38,089		)	77,234			—			29,909
Cash and cash equivalents at beginning of year	—			57,894			55,391			26,072			—			139,357
Cash and cash equivalents at end of year	$	—		$	48,658		$	17,302		$	103,306		$	—		$	169,266

Condensed Consolidating Statement of Cash Flows



Year Ended May 31, 2016 (in thousands)	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Cash flows from operating activities:
Net income	$	693,520		$	400,191		$	296,608		$	3,905		$	(700,704	)	$	693,520
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	—			102,443			37,883			9,365			—			149,691
Amortization of intangible assets	—			14,830			304			454			—			15,588
Stock-based compensation	79,293			—			—			—			—			79,293
Gain on Storage transactions	—			(12,547		)	—			(3,239		)	—			(15,786		)
Gain (loss) on Shred-it	—			(366,460		)	—			12,389			—			(354,071		)
Deferred income taxes	—			(83,648		)	22,025			2,321			—			(59,302		)
Changes in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	—			(30,381		)	(20,196		)	(2,185		)	—			(52,762		)
Inventories, net	—			(23,917		)	2,011			(2,454		)	6,443			(17,917		)
Uniforms and other rental items in service	—			(3,193		)	(2,032		)	(1,840		)	759			(6,306		)
Prepaid expenses and other current assets	—			(167		)	(914		)	116			—			(965		)
Accounts payable	—			(487,582		)	491,918			(4,884		)	(16		)	(564		)
Accrued compensation and related liabilities	—			9,838			3,103			571			—			13,512
Accrued liabilities and other	—			(3,790		)	25,625			155			724			22,714
Income taxes, current	—			895			(1,118		)	(577		)	—			(800		)
Net cash provided by (used in) operating activities	772,813			(483,488		)	855,217			14,097			(692,794		)	465,845

Cash flows from investing activities:
Capital expenditures	—			(162,075		)	(100,380		)	(12,930		)	—			(275,385		)
Proceeds from redemption of marketable securities	—			—			—			434,179			—			434,179
Purchase of marketable securities and investments	—			(3,333		)	(12,085		)	(488,765		)	10,037			(494,146		)
Proceeds from Storage transactions	—			32,099			—			3,239			—			35,338
Proceeds from sale of Shred-it	—			568,223			—			12,614			—			580,837
Acquisitions of businesses, net of cash acquired	—			(130,786		)	—			(25,793		)	—			(156,579		)
Other, net	94,344			169,821			(945,406		)	1,897			683,481			4,137
Net cash provided by (used in) investing activities	94,344			473,949			(1,057,871		)	(75,559		)	693,518			128,381

Cash flows from financing activities:
Proceeds from the issuance of debt	—			—			(165		)	165			—			—
Repayment of debt	—			(9,151		)	10,224			(365		)	(724		)	(16		)
Proceeds from exercise of stock-based compensation awards	28,226			—			—			—			—			28,226
Dividends paid	(115,232		)	—			—			(41		)	—			(115,273		)
Repurchase of common stock	(780,151		)	—			—			—			—			(780,151		)
Other, net	—			1,952			(730		)	(732		)	—			490
Net cash (used in) provided by financing activities	(867,157		)	(7,199		)	9,329			(973		)	(724		)	(866,724		)

Effect of exchange rate changes on cash and cash equivalents	—			—			—			(5,218		)	—			(5,218		)
Net decrease in cash and cash equivalents	—			(16,738		)	(193,325		)	(67,653		)	—			(277,716		)
Cash and cash equivalents at beginning of year	—			74,632			248,716			93,725			—			417,073
Cash and cash equivalents at end of year	$	—		$	57,894		$	55,391		$	26,072		$	—		$	139,357

Condensed Consolidating Statement of Cash Flows



Year Ended May 31, 2015 (in thousands)	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Cash flows from operating activities:
Net income	$	430,618		$	149,937		$	266,084		$	17,001		$	(433,022	)	$	430,618
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	—			92,133			38,066			10,425			—			140,624
Amortization of intangible assets	—			13,972			60			426			—			14,458
Stock-based compensation	47,002			—			—			—			—			47,002
Gain on Storage transactions	—			(31,113		)	—			(7,460		)	—			(38,573		)
Loss on Shred-it	—			3,190			—			661			—			3,851
Gain on sale of stock in an equity method investment	—			—			(21,739		)	—			—			(21,739		)
Deferred income taxes	—			67			18,565			2,234			—			20,866
Changes in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	—			2,416			(5,141		)	1,282			—			(1,443		)
Inventories, net	—			22,405			(405		)	(487		)	2,272			23,785
Uniforms and other rental items in service	—			(24,203		)	(5,154		)	(2,764		)	127			(31,994		)
Prepaid expenses and other current assets	—			(317		)	(2,768		)	(117		)	—			(3,202		)
Accounts payable	—			(343,401		)	310,050			(98		)	4			(33,445		)
Accrued compensation and related liabilities	—			3,345			1,226			(1,337		)	—			3,234
Accrued liabilities and other	—			(15,160		)	41,882			6,322			22			33,066
Income taxes, current	—			142			(5,939		)	(1,035		)	—			(6,832		)
Net cash provided by (used in) operating activities	477,620			(126,587		)	634,787			25,053			(430,597		)	580,276

Cash flows from investing activities:
Capital expenditures	—			(117,545		)	(85,713		)	(14,462		)	—			(217,720		)
Proceeds from redemption of marketable securities	—			—			—			161,938			—			161,938
Purchase of marketable securities and investments	—			(1,827		)	38,731			(179,130		)	(53,245		)	(195,471		)
Proceeds from Storage transactions, net of cash contributed	—			93,387			—			65,041			—			158,428
Proceeds from Shredding Transaction	—			3,344			—			—			—			3,344
Proceeds from sale of stock of an equity method investment	—			—			29,933			—			—			29,933
Dividends received on equity method investment	—			—			5,247			—			—			5,247
Dividends received on Shred-it	—			113,400			—			—			—			113,400
Acquisitions of businesses, net of cash acquired	—			(15,495		)	—			—			—			(15,495		)
Other, net	235,951			51,438			(773,575		)	3,705			483,864			1,383
Net cash provided by (used in) investing activities	235,951			126,702			(785,377		)	37,092			430,619			44,987

Cash flows from financing activities:
Proceeds from the issuance of debt	—			—			(2,615		)	2,615			—			—
Repayment of debt	—			(1,178		)	2,962			(2,280		)	(22		)	(518		)
Proceeds from exercise of stock-based compensation awards	40,230			—			—			—			—			40,230
Dividends paid	(201,831		)	—			—			(60		)	—			(201,891		)
Repurchase of common stock	(551,970		)	—			—			—			—			(551,970		)
Other, net	—			1,952			(363		)	—			—			1,589
Net cash (used in) provided by financing activities	(713,571		)	774			(16		)	275			(22		)	(712,560		)

Effect of exchange rate changes on cash and cash equivalents	—			—			—			(8,918		)	—			(8,918		)
Net increase (decrease) in cash and cash equivalents	—			889			(150,606		)	53,502			—			(96,215		)
Cash and cash equivalents at beginning of year	—			73,743			399,322			40,223			—			513,288
Cash and cash equivalents at end of year	$	—		$	74,632		$	248,716		$	93,725		$	—		$	417,073