XML 22 R8.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 from operating activities:      
Net income (loss) $ 65,636 $ 100,739 $ (39,873)
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Depreciation and amortization 298,625 288,422 287,002
Goodwill impairment charge 0 0 34,013
Allowance for doubtful accounts 15,817 7,901 6,907
Amortization of deferred financing costs and debt discount 3,846 3,482 3,537
Accretion of environmental liabilities 9,806 9,460 10,177
Changes in environmental liability estimates 2,147 (195) (4,254)
Deferred income taxes 19,089 (83,335) 15,184
Other expense (income), net 4,510 6,119 (5,685)
Stock-based compensation 16,792 13,146 10,481
Excess tax benefit of stock-based compensation 0 0 (1,198)
Net tax benefit on stock-based awards 0 0 1,165
Gain on sale of businesses 0 (30,732) (16,884)
Loss on early extinguishment of debt 2,488 7,891 0
Environmental expenditures (10,115) (12,965) (12,170)
Changes in assets and liabilities, net of acquisitions:      
Accounts receivable and unbilled accounts receivable (79,563) (33,764) (15,009)
Inventories and supplies (26,958) (5,002) (16,080)
Other current assets (7,946) 16,720 (8,036)
Accounts payable 46,915 (10,684) (3,503)
Other current and long-term liabilities 12,121 8,495 13,850
Net cash from operating activities 373,210 285,698 259,624
Cash flows used in investing activities:      
Additions to property, plant and equipment (193,344) (167,007) (219,384)
Proceeds from sale and disposal of fixed assets 15,445 7,124 20,817
Acquisitions, net of cash acquired (151,023) (49,227) (206,915)
Additions to intangible assets including costs to obtain or renew permits (4,688) (1,617) (2,831)
Purchases of available-for-sale securities (44,772) (38,342) (598)
Proceeds from sale of available-for-sale securities 28,723 376 0
Proceeds from sale of businesses, net of transactional costs 0 45,426 47,134
Net cash used in investing activities (349,659) (203,267) (361,777)
Cash flows (used in) from financing activities:      
Change in uncashed checks 132 (5,940) (3,177)
Proceeds from exercise of stock options 0 46 627
Tax payments related to withholdings on vested restricted stock (3,266) (3,149) (2,819)
Repurchases of common stock (45,080) (48,971) (22,188)
Excess tax benefit of stock-based compensation 0 0 1,198
Deferred financing costs paid (4,027) (5,718) (4,031)
Premiums paid on early extinguishment of debt (1,238) (6,028) 0
Principal payments on debt (405,768) (402,000) 0
Issuance of senior secured notes, net of discount 348,250 399,000 0
Issuance of senior secured notes, net of discount 0 0 250,625
Borrowing from revolving credit facility 50,000 0 0
Payment on revolving credit facility (50,000) 0 0
Net cash (used in) from financing activities (110,997) (72,760) 220,235
Effect of exchange rate change on cash (5,446) 2,731 4,207
(Decrease) increase in cash and cash equivalents (92,892) 12,402 122,289
Cash and cash equivalents, beginning of year 319,399 306,997 184,708
Cash and cash equivalents, end of year 226,507 319,399 306,997
Cash payments for interest and income taxes:      
Interest paid 89,171 93,174 88,669
Income taxes paid 20,036 18,682 29,255
Non-cash investing activities:      
Property, plant and equipment accrued 15,657 16,109 9,214
Transfer of inventory to property, plant and equipment 0 12,641 0
(Payable) receivable for estimated purchase price adjustment $ (4,032) $ 0 $ 1,910