XML 89 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statement of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Statement of Cash Flows [Abstract]      
Net income $ 369,771 $ 447,558 $ 546,847
Adjustments to reconcile net income to net cash provided by operating activities:      
Losses on early extinguishment of debt, net 16,637 10,131 274
Depreciation and amortization 151,000 153,650 153,141
Amortization of intangibles 25,649 26,195 27,650
Amortization of cemetery property 70,330 68,640 68,102
Amortization of loan costs 5,681 6,059 5,859
Provision for doubtful accounts 9,146 8,372 9,980
Provision for (benefits from) deferred income taxes 23,030 (41,479) (317,838)
Gains on divestitures and impairment charges, net (32,919) (15,933) (7,015)
Gain (Loss) on Sale of Investments 0 (2,636) 0
Share-based compensation 15,029 15,626 14,788
Change in assets and liabilities, net of effects from acquisitions and divestitures:      
Increase (decrease) in receivables 12,711 8,052 (9,740)
Increase in other assets 23,018 (4,814) (14,353)
Increase (decrease) in payables and other liabilities 1,788 (16,699) 81,763
Effect of preneed funeral production and maturities:      
Increase in preneed receivables, net and trust investments 16,144 (55,607) (63,994)
Increase in deferred revenue, net (67,792) 28,005 31,182
Decrease in deferred receipts held in trust 42,306 (19,290) (23,274)
Net cash provided by operating activities 628,755 615,830 503,372
Cash flows from investing activities:      
Capital expenditures (239,957) (235,545) (214,501)
Business acquisitions, net of cash acquired (55,644) (176,252) (64,652)
Payments for (Proceeds from) Deposits on Real Estate Acquisitions (51,373) (18,572) (11,519)
Proceeds from divestitures and sales of property and equipment 77,074 37,309 52,381
Payments for (Proceeds from) Other Investing Activities (415) 14,525 (175)
Proceeds from Sale, Maturity and Collection of Investments 0 2,900 0
Payment to Acquire Life Insurance Policy, Investing Activities (9,026) (14,760) (7,360)
Proceeds from Life Insurance Policy 0 4,824 2,592
Net cash used in investing activities (278,511) (414,621) (242,884)
Cash flows from financing activities      
Proceeds from issuance of long-term debt 1,149,263 396,349 1,787,500
Debt issuance costs (15,539) 0 (12,939)
Scheduled payments of debt (25,471) (34,134) (468,973)
Early payments of debt (1,164,978) (259,590) (1,117,512)
Principal payments on finance leases (42,627) (39,686) (51,106)
Proceeds from exercise of stock options 40,922 24,517 33,611
Purchase of Company common stock (129,589) (277,611) (199,637)
Payments of dividends (131,402) (123,849) (108,750)
Purchase of noncontrolling interest 0 0 (4,580)
PaymentsToAcquireBusinessesIncludiing1031ExchangeFunds 107,000 62,800 76,200
Bank overdrafts and other 328 (15,177) 5,959
Net cash (used in) provided by financing activities (319,093) (329,181) (136,427)
Effect of foreign currency 3,885 (5,045) 5,034
Net (decrease) increase in cash, cash equivalents, and restricted cash 35,036 (133,017) 129,095
Cash, cash equivalents, and restricted cash at beginning of period 198,850    
Cash, cash equivalents, and restricted cash at end of period 186,276 198,850  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 242,620 $ 207,584 $ 340,601