XML 69 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 146,232 $ 127,001 $ 123,093
Adjustments to reconcile net income to net cash provided by operating activities:      
Losses (gains) on early extinguishment of debt, net 3,509 9,400 (3,146)
Depreciation and amortization 118,047 116,391 111,102
Amortization of intangible assets 25,591 25,197 21,698
Amortization of cemetery property 40,046 32,418 30,664
Amortization of loan costs 4,436 4,266 7,575
Provision for doubtful accounts 9,251 8,155 11,351
Provision for deferred income taxes 66,512 76,934 57,866
Losses (gains) on divestitures and impairment charges, net 10,977 (8,512) (4,253)
Share-based compensation 9,144 8,878 9,684
Change in assets and liabilities, net of effects from acquisitions and divestitures:      
Increase in receivables (3,322) (14,561) (8,245)
Decrease in other assets 6,815 2,603 11,161
Increase in payables and other liabilities 14,610 16,374 30,899
Effect of preneed funeral production and maturities:      
Decrease in preneed funeral receivables, net and trust investments 69,688 45,988 18,963
(Decrease) increase in deferred preneed funeral revenue (32,158) (14,778) 92
Decrease in deferred preneed funeral receipts held in trust (50,591) (36,322) (22,558)
Effect of cemetery production and deliveries:      
Increase in preneed cemetery receivables, net and trust investments (65,581) (53,224) (41,427)
Increase in deferred preneed cemetery revenue 23,636 10,558 24,999
Decrease in deferred preneed cemetery receipts held in trust (9,419) (648) (11,702)
Other 689 (1,739) 4,254
Net cash provided by operating activities 388,112 354,379 372,070
Cash flows from investing activities:      
Capital expenditures (118,375) (97,899) (83,790)
Acquisitions (99,570) (299,083) (84,932)
Proceeds from divestitures and sales of property and equipment, net 24,529 90,835 32,696
Net withdrawals (deposits) of restricted funds and other 3,159 26,437 (16,459)
Net cash used in investing activities (190,257) (279,710) (152,485)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 85,000 510,000 150,000
Debt issuance costs 0 (11,828) (8,146)
Payments of debt (22,774) (263,063) (33,058)
Early extinguishment of debt (43,194) (119,105) (236,114)
Principal payments on capital leases (23,030) (46,214) (24,288)
Proceeds from exercise of stock options 8,227 1,759 17,407
Purchase of Company common stock (197,302) (116,878) 0
Payments of dividends (44,795) (40,001) (40,195)
Bank overdrafts and other (798) (2,856) (4,036)
Net cash used in financing activities (238,666) (88,186) (178,430)
Effect of foreign currency (1,466) 4,618 10,193
Net (decrease) increase in cash and cash equivalents (42,277) (8,899) 51,348
Cash and cash equivalents at beginning of period 170,846 179,745 128,397
Cash and cash equivalents at end of period $ 128,569 $ 170,846 $ 179,745