XML 22 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows - operating activities:      
Net income including noncontrolling interests $ 283,577 $ 227,193 $ 182,153
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 38,472 39,915 38,881
Amortization of identifiable intangible assets 42,443 48,594 40,908
Provision for doubtful accounts 2,123 7,264 6,194
Deferred income taxes 4,249 (53,358) (8,108)
Gain on sale of property, plant and equipment (517) (1,846) (330)
Excess tax benefits from share-based compensation (1,646) (1,616) (2,546)
Equity income from unconsolidated entities (347) (864) (1,569)
Non-cash expense for amortization of debt issuance costs 1,186 1,186 1,354
Non-cash expense from contingent consideration arrangements 186 317 0
Non-cash expense for impairment of goodwill and identifiable intangible assets 907 57,819 2,428
Non-cash share-based compensation expense 11,030 9,939 8,902
Non-cash income from changes in unrecognized tax benefits (72) (5,641) (759)
Distributions from unconsolidated entities 3,110 5,506 1,247
Changes in operating assets and liabilities, excluding the effect of businesses acquired:      
Increase in accounts receivable (146,101) (80,514) (98,773)
(Increase) decrease in inventories (3,915) (4,936) 954
(Increase) decrease in contract assets (30,935) 12,433 (7,851)
Increase in accounts payable 78,554 54,910 13,141
Increase in contract liabilities 20,726 24,695 57,244
(Decrease) increase in accrued payroll and benefits and other accrued expenses and liabilities (24,715) 24,017 22,659
Changes in other assets and liabilities, net (7,304) 1,036 6,243
Net cash provided by operating activities 271,011 366,049 262,372
Cash flows - investing activities:      
Payments for acquisitions of businesses, net of cash acquired (72,080) (107,223) (232,947)
Proceeds from sale of property, plant and equipment 1,237 4,014 2,023
Purchase of property, plant and equipment (43,479) (34,684) (39,648)
Investments in and advances to unconsolidated entities (3,484) (675) (99)
Distributions from unconsolidated entities 84 475 0
Net cash used in investing activities (117,722) (138,093) (270,671)
Cash flows - financing activities:      
Proceeds from revolving credit facility 0 0 220,000
Repayments of revolving credit facility 0 (100,000) (95,000)
Borrowings from long-term debt 0 0 400,000
Repayments of long-term debt and debt issuance costs (15,235) (15,202) (417,990)
Repayments of capital lease obligations (1,501) (1,445) (1,384)
Dividends paid to stockholders (18,640) (18,971) (19,454)
Repurchase of common stock (216,244) (93,166) (94,221)
Proceeds from exercise of stock options 0 0 741
Taxes paid related to net share settlements of equity awards (3,848) (3,462) (4,225)
Issuance of common stock under employee stock purchase plan 5,765 4,793 4,814
Payments for contingent consideration arrangements (3,339) (1,017) 0
Distributions to noncontrolling interests 0 0 (2,710)
Net cash used in financing activities (253,042) (228,470) (9,429)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3,421) 3,242 (6,675)
(Decrease) increase in cash, cash equivalents and restricted cash (103,174) 2,728 (24,403)
Cash, cash equivalents and restricted cash at beginning of year (1) 469,388 [1] 466,660 [1] 491,063
Cash, cash equivalents and restricted cash at end of period (1) [1] $ 366,214 $ 469,388 $ 466,660
[1] Includes $2.3 million, $2.0 million, $2.0 million and $4.2 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheet as of December 31, 2018, 2017, 2016 and 2015, respectively.