Cash flows used in operating activities: | |
Net income | 167.8M |
Reconciliation of net income to net cash used in operating activities: | |
Depreciation and amortization | |
Equity in (earnings) losses from real estate ventures | |
Operating distributions from real estate ventures | 24.4M |
Provision for loss on receivables and other assets | |
Amortization of deferred compensation | |
Accretion of interest on deferred business acquisition obligations | |
Amortization of debt issuance costs | |
Change in: | |
Receivables | |
Prepaid expenses and other assets | |
Deferred tax assets, net | |
Excess tax benefit from share-based payment arrangements | |
Accounts payable, accrued liabilities and accrued compensation | |
Net cash used in operating activities | -151.9M |
Cash flows used in investing activities: | |
Net capital additions - property and equipment | -63.7M |
Business acquisitions | 418.6M |
Capital contributions and advances to real estate ventures | -78.5M |
Distributions, repayments of advances and sale of investments | |
Net cash used in investing activities | -617.4M |
Cash flows from financing activities: | |
Proceeds from borrowings under credit facilities | 2.53B |
Repayments of borrowings under credit facilities | -1.68B |
Payments of deferred business acquisition obligations | -46.6M |
Debt issuance costs | |
Shares repurchased for payment of employee taxes on stock awards | |
Excess tax adjustment from share-based payment arrangements | |
Common stock issued under option and stock purchase programs | |
Payment of dividends | 14.2M |
Net cash provided by financing activities | 779.3M |
Net decrease in cash and cash equivalents | 11.8M |
Cash and cash equivalents, January 1 | 216.6M |
Cash and cash equivalents, June 30 | 228.4M |
Cash paid during the period for: | |
Interest | -24.3M |
Income taxes, net of refunds | -111.8M |
Non-cash financing activities: | |
Deferred business acquisition obligations | |
Provision recorded for potential earn-out obligations |