XML 22 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:        
Net (loss) income $ (208,483) $ (181,544) $ 194,609 $ 241,811
Income from discontinued operations, net of tax (10,064) (10,115) (154,460) (60,106)
Restructuring payments   (20,014) (27,148) (52,730)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Depreciation and amortization   160,625 159,142 148,464
Allowance for credit losses   42,193 28,488 26,370
Stock-based compensation   17,476 23,149 21,042
Restructuring charges and asset impairments   20,712 69,606 25,899
Amortization of debt fees   10,871 10,482 6,771
Goodwill impairment   198,169 0 0
Loss on extinguishment of debt   36,987 6,623 7,964
Gain on sale of investments   (21,969) 0 0
Loss on sale of businesses   0 17,683 0
Pension plan settlement   0 0 31,329
Deferred tax provision   14,885 4,931 64,065
Changes in operating assets and liabilities, net of acquisitions/divestitures:        
Increase in accounts and other receivables   (47,236) (8,027) (53,801)
Decrease in finance receivables 17,772 70,505 29,171 38,453
Decrease (increase) in inventories   3,145 (5,588) (1,441)
Increase in other current assets and prepayments   (19,581) (27,096) (9,881)
Increase (decrease) in accounts payable and accrued liabilities   94,851 22,081 (4,368)
Increase (decrease) in current and noncurrent income taxes   8,622 (40,119) (28,127)
Increase (decrease) in advance billings   11,009 (10,361) (19,802)
Decrease in pension and retiree medical liabilities   (36,009) (37,469) (40,941)
Other, net   (13,698) 2,914 11,597
Net cash provided by operating activities: continuing operations (29,550) 339,884 258,611 352,568
Net cash (used in) provided by operating activities: discontinued operations   (37,912) 9,272 (7,916)
Net cash provided by operating activities (67,355) 301,972 267,883 344,652
Cash flows from investing activities:        
Capital expenditures   (104,987) (137,253) (137,810)
Purchases of investment securities (107,312) (596,841) (137,194) (82,153)
Proceeds from sales/maturities of investment securities 104,222 576,536 108,548 175,866
Net investment in loan receivables   (4,174) (15,676) (1,773)
Acquisitions, net of cash acquired   (6,608) (22,100) (10,484)
Sale of other investments   58,248 0 0
Other investing activities 8,081 4,636 (8,905) 8,168
Net cash used in investing activities: continuing operations (20,997) (73,190) (212,580) (48,186)
Net cash (used in) provided by investing activities: discontinued operations   (2,502) 670,130 334,532
Net cash (used in) provided by investing activities (23,499) (75,692) 457,550 286,346
Cash flows from financing activities:        
Proceeds from issuance of long-term debt   916,544 389,986 0
Principal payments of long-term debt   (1,105,650) (930,189) (570,180)
Premiums and fees to extinguish debt   (32,645) (4,704) (6,575)
Dividends paid to stockholders   (34,291) (35,361) (140,498)
Common stock repurchases   0 (105,000) 0
Increase in customer deposits at the Bank (888) 26,082 16,341 21,008
Other financing activities   (5,411) (1,372) (49,166)
Net cash used in financing activities (160,484) (235,371) (670,299) (745,411)
Effect of exchange rate changes on cash and cash equivalents   6,099 2,046 (25,381)
(Decrease) increase in cash and cash equivalents   (2,992) 57,180 (139,794)
Cash and cash equivalents at beginning of period $ 924,442 924,442 867,262 1,009,021
Cash and cash equivalents at end of period   921,450 924,442 869,227
Less cash and cash equivalents of discontinued operations   0 0 1,965
Cash and cash equivalents of continuing operations at end of period   921,450 924,442 867,262
Cash interest paid   151,857 157,709 171,120
Cash income tax payments, net of refunds   $ 20,185 $ 27,109 $ 25,906