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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net (loss) income $ (199,897) $ 149,630 $ 230,155
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation 16,502 16,572 15,868
Amortization of intangibles 109,534 114,528 106,784
Operating lease expense 19,113 0 0
Asset impairment charges 390,980 101,319 54,880
Amortization of prepaid product discounts 24,055 22,941 19,969
Deferred income taxes (34,950) (11,356) (39,177)
Employee share-based compensation expense 19,702 13,378 15,109
Loss (gain) on sales of businesses and customer lists 124 (15,641) (8,703)
Other non-cash items, net 13,220 8,030 7,708
Changes in assets and liabilities, net of effect of acquisitions:      
Trade accounts receivable 5,609 (16,795) 5,279
Inventories and supplies 4,843 (3,641) (644)
Other current assets (10,568) (12,032) (7,976)
Non-current assets (5,360) (6,913) (5,710)
Accounts payable 5,130 4,366 (7,796)
Prepaid product discount payments (25,637) (23,814) (27,079)
Other accrued and non-current liabilities (45,747) (1,257) (20,236)
Net cash provided by operating activities 286,653 339,315 338,431
Cash flows from investing activities:      
Purchases of capital assets (66,595) (62,238) (47,450)
Payments for acquisitions, net of cash acquired (11,605) (214,258) [1] (139,223) [1]
Purchases of customer funds marketable securities (7,642) (7,807) (7,737)
Proceeds from customer funds and corporate marketable securities 7,642 7,807 11,237
Other 2,449 1,082 2,282
Net cash used by investing activities (75,751) (275,414) (180,891)
Cash flows from financing activities:      
Proceeds from issuing long-term debt 241,500 1,280,000 403,000
Payments on long-term debt (268,000) (1,078,853) (454,165)
Net change in customer funds obligations 12,598 20,279 (6,007)
Proceeds from issuing shares under employee plans 3,198 7,523 9,033
Employee taxes paid for shares withheld (3,935) (7,977) (9,377)
Payments for common shares repurchased (118,547) (200,000) (65,000)
Cash dividends paid to shareholders (51,742) (56,669) (58,098)
Other (1,866) (4,128) (2,342)
Net cash used by financing activities (186,794) (39,825) (182,956)
Effect of exchange rate change on cash, cash equivalents, restricted cash and restricted cash equivalents 5,444 (7,636) 5,370
Net change in cash, cash equivalents, restricted cash and restricted cash equivalents 29,552 16,440 (20,046)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year 145,259 128,819 148,865
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of year (Note 3) $ 174,811 $ 145,259 $ 128,819
[1] Cash and cash equivalents acquired were $1,692 during 2018 and $27,299 during 2017.