XML 18 R6.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 177,305 $ 234,934 $ 178,806
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (income) from discontinued operations, net of tax 0 390 (2,186)
Losses on early extinguishment of debt, net 22,503 6,918 29,158
Premiums paid on early extinguishment of debt (20,524) (6,549) (24,804)
Depreciation and amortization 147,233 141,456 140,002
Amortization of intangible assets 30,956 31,459 36,640
Amortization of cemetery property 66,745 62,407 60,439
Amortization of loan costs 5,826 9,434 8,825
Provision for doubtful accounts 10,776 6,083 7,376
Provision for deferred income taxes 7,490 18,048 129,671
Losses (gains) on divestitures and impairment charges, net 26,819 (6,522) (116,613)
Share-based compensation 14,056 13,843 13,127
Excess tax benefits from share-based awards (12,685) (18,123) (30,123)
Change in assets and liabilities, net of effects from acquisitions and divestitures:      
(Increase) decrease in receivables 14,198 464 (18,644)
Decrease (increase) in other assets (17,855) 2,457 (11,013)
Increase (decrease) in payables and other liabilities 47,888 20,567 (12,038)
Effect of preneed funeral production and maturities:      
Decrease in preneed funeral receivables, net and trust investments (17,506) 24,918 30,357
Increase (decrease) in deferred preneed funeral revenue (9,329) 6,199 (23,069)
Decrease in deferred preneed receipts held in trust 41,607 (52,946) (52,869)
Effect of cemetery production and maturities:      
Increase in preneed cemetery receivables, net and trust investments 90,900 (73,038) (43,964)
Increase in deferred preneed cemetery revenue (25,446) 60,960 54,049
Increase (decrease) in deferred preneed receipts held in trust (15,776) (11,173) (34,664)
Other 0 0 (108)
Net cash provided by operating activities from continuing operations 463,595 472,186 318,355
Net cash used in operating activities from discontinued operations 0 0 (1,000)
Net cash provided by operating activities 463,595 472,186 317,355
Cash flows from investing activities:      
Capital expenditures (193,446) (150,986) (144,499)
Acquisitions, net of cash acquired (69,146) (41,258) (15,336)
Proceeds from divestitures and sales of property and equipment 41,310 16,772 424,383
Net withdrawals (deposits) of restricted funds and other 5,150 8,066 (12,225)
Net cash (used in) provided by investing activities from continuing operations (216,132) (167,406) 252,323
Net cash provided by investing activities from discontinued operations 0 987 4,963
Net cash (used in) provided by investing activities (216,132) (166,419) 257,286
Cash flows from financing activities      
Proceeds from issuance of long-term debt 1,060,000 446,250 755,000
Debt issuance costs (5,232) (6,025) (10,500)
Payments of debt (36,414) (160,220) (230,561)
Early extinguishment of debt (875,110) (197,377) (762,764)
Principal payments on capital leases (33,119) (28,601) (29,380)
Proceeds from exercise of stock options 17,662 31,809 32,376
Excess tax benefits from share-based awards 12,685 18,123 30,123
Purchase of Company common stock (227,928) (345,261) (242,874)
Payments of dividends (98,418) (87,570) (71,517)
Purchase of noncontrolling interest (1,961) (2,075) (15,000)
Bank overdrafts and other (1,095) (7,531) 7,130
Net cash (used in) provided by financing activities (188,930) (338,478) (537,967)
Change in cash from discontinued operations 0 0 1,361
Effect of foreign currency 1,854 (10,025) (2,284)
Net increase (decrease) in cash and cash equivalents 60,387 (42,736) 35,751
Cash and cash equivalents at beginning of period 134,599 177,335 141,584
Cash and cash equivalents at end of period $ 194,986 $ 134,599 $ 177,335