XML 22 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Unaudited Condensed Consolidated Statement of Cash Flows Statement - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ 47,454 $ 61,465
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss on early extinguishment of debt 581 0
Depreciation and amortization 35,834 34,041
Amortization of intangible assets 7,667 8,150
Amortization of cemetery property 13,599 11,632
Amortization of loan costs 1,615 2,422
Provision for doubtful accounts 538 2,690
Benefit for deferred income taxes (1,291) (6,624)
Losses on divestitures and impairment charges, net 347 1,779
Share-based compensation 3,067 4,023
Excess tax benefits from share-based awards (2,258) (5,511)
Change in assets and liabilities, net of effects from acquisitions and divestitures:    
Decrease (increase) in receivables 9,340 (2,894)
Decrease in other assets 1,598 5,894
Increase in payables and other liabilities 56,062 54,847
Effect of preneed funeral production and maturities:    
Decrease in preneed funeral receivables, net and trust investments 3,146 13,760
(Decrease) increase deferred preneed funeral revenue (599) 6,729
Decrease in deferred preneed funeral receipts held in trust (10,273) (21,748)
Effect of cemetery production and deliveries:    
Increase in preneed cemetery receivables, net and trust investments (7,869) (7,252)
Increase in deferred preneed cemetery revenue 22,286 22,375
Increase in deferred preneed cemetery receipts held in trust 3,918 2,994
Net cash provided by operating activities 184,762 188,772
Cash flows from investing activities:    
Capital expenditures (41,708) (28,298)
Acquisitions (56) (30,616)
Proceeds from divestitures and sales of property and equipment 10,164 3,901
Net withdrawals of restricted funds 5,120 2,841
Net cash used in investing activities (26,480) (52,172)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 590,000 15,000
Debt issuance costs (5,035) 0
Payments of debt (10,054) (15,071)
Early extinguishment of debt (580,483) 0
Principal payments on capital leases 8,156 7,380
Proceeds from exercise of stock options 3,133 9,445
Excess tax benefits from share-based awards 2,258 5,511
Purchase of Company common stock (54,632) (73,180)
Payments of dividends (23,324) (20,461)
Bank overdrafts and other 1,369 (6,819)
Net cash used in financing activities (84,924) (92,955)
Effect of foreign currency on cash and cash equivalents 5,548 (3,851)
Net increase in cash and cash equivalents 78,906 39,794
Cash and cash equivalents at beginning of period 134,599 177,335
Cash and cash equivalents at end of period $ 213,505 $ 217,129