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Supplemental Guarantor Information | 3 Months Ended
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Aug. 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Supplemental Guarantor Information | Supplemental Guarantor Information Cintas Corporation No. 2 (Corp. 2) is the indirectly, wholly-owned principal operating subsidiary of Cintas. Corp. 2 is the issuer of the $1,300.0 million of long-term senior notes, which are unconditionally guaranteed, jointly and severally, by Cintas Corporation and its wholly-owned, direct and indirect domestic subsidiaries. As allowed by SEC rules, the following condensed consolidating financial statements are provided as an alternative to filing separate financial statements of the guarantors. Each of the subsidiaries presented in the following condensed consolidating financial statements has been fully consolidated in Cintas’ consolidated financial statements. The following condensed consolidating financial statements should be read in conjunction with the consolidated financial statements of Cintas and notes thereto of which this note is an integral part. Condensed consolidating financial statements for Cintas, Corp. 2, the subsidiary guarantors and non-guarantors are presented on the following pages: Condensed Consolidating Income Statement Three Months Ended August 31, 2012 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental uniforms and ancillary products | $ | — |  |  | $ | 576,285 |  |  | $ | 152,817 |  |  | $ | 53,784 |  |  | $ | (28,043 | ) |  | $ | 754,843 |
Other services | — |  |  | 369,406 |  |  | 10,879 |  |  | 29,378 |  |  | (113,181 | ) |  | 296,482 |
Equity in net income of affiliates | 76,733 |  |  | — |  |  | — |  |  | — |  |  | (76,733 | ) |  | — |
| 76,733 |  |  | 945,691 |  |  | 163,696 |  |  | 83,162 |  |  | (217,957 | ) |  | 1,051,325 |
Costs and expenses (income): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of rental uniforms and ancillary products | — |  |  | 364,197 |  |  | 89,342 |  |  | 36,620 |  |  | (62,011 | ) |  | 428,148 |
Cost of other services | — |  |  | 236,331 |  |  | (2,417 | ) |  | 17,708 |  |  | (74,320 | ) |  | 177,302 |
Selling and administrative expenses | — |  |  | 290,644 |  |  | (4,139 | ) |  | 24,301 |  |  | (4,225 | ) |  | 306,581 |
Operating income | 76,733 |  |  | 54,519 |  |  | 80,910 |  |  | 4,533 |  |  | (77,401 | ) |  | 139,294 |
Interest income | — |  |  | (18 | ) |  | (35 | ) |  | (24 | ) |  | — |  |  | (77 | )
Interest expense | — |  |  | 16,566 |  |  | 31 |  |  | 1 |  |  | — |  |  | 16,598 |
Income before income taxes | 76,733 |  |  | 37,971 |  |  | 80,914 |  |  | 4,556 |  |  | (77,401 | ) |  | 122,773 |
Income taxes | — |  |  | 14,379 |  |  | 30,642 |  |  | 1,024 |  |  | (5 | ) |  | 46,040 |
Net income | $ | 76,733 |  |  | $ | 23,592 |  |  | $ | 50,272 |  |  | $ | 3,532 |  |  | $ | (77,396 | ) |  | $ | 76,733 |
Condensed Consolidating Income Statement Three Months Ended August 31, 2011 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental uniforms and ancillary products | $ | — |  |  | $ | 553,748 |  |  | $ | 141,915 |  |  | $ | 52,583 |  |  | $ | (28,823 | ) |  | $ | 719,423 |
Other services | — |  |  | 357,732 |  |  | 17,161 |  |  | 29,802 |  |  | (106,938 | ) |  | 297,757 |
Equity in net income of affiliates | 68,638 |  |  | — |  |  | — |  |  | — |  |  | (68,638 | ) |  | — |
| 68,638 |  |  | 911,480 |  |  | 159,076 |  |  | 82,385 |  |  | (204,399 | ) |  | 1,017,180 |
Costs and expenses (income): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of rental uniforms and ancillary products | — |  |  | 346,775 |  |  | 84,352 |  |  | 35,909 |  |  | (63,630 | ) |  | 403,406 |
Cost of other services | — |  |  | 220,833 |  |  | (2,060 | ) |  | 17,825 |  |  | (61,864 | ) |  | 174,734 |
Selling and administrative expenses | — |  |  | 275,617 |  |  | 15,995 |  |  | 22,284 |  |  | (3,430 | ) |  | 310,466 |
Operating income | 68,638 |  |  | 68,255 |  |  | 60,789 |  |  | 6,367 |  |  | (75,475 | ) |  | 128,574 |
Interest income | — |  |  | (80 | ) |  | (127 | ) |  | (158 | ) |  | — |  |  | (365 | )
Interest expense (income) | — |  |  | 17,776 |  |  | (448 | ) |  | 6 |  |  | — |  |  | 17,334 |
Income before income taxes | 68,638 |  |  | 50,559 |  |  | 61,364 |  |  | 6,519 |  |  | (75,475 | ) |  | 111,605 |
Income taxes | — |  |  | 18,666 |  |  | 22,656 |  |  | 1,647 |  |  | (2 | ) |  | 42,967 |
Net income | $ | 68,638 |  |  | $ | 31,893 |  |  | $ | 38,708 |  |  | $ | 4,872 |  |  | $ | (75,473 | ) |  | $ | 68,638 |
Condensed Consolidating Statement of Comprehensive Income Three Months Ended August 31, 2012 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Net income | $ | 76,733 |  |  | $ | 23,592 |  |  | $ | 50,272 |  |  | $ | 3,532 |  |  | $ | (77,396 | ) |  | $ | 76,733 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | 8 |  |  | — |  |  | 7,009 |  |  | — |  |  | 7,017 |
Change in fair value of derivatives | — |  |  | (151 | ) |  | — |  |  | — |  |  | — |  |  | (151 | )
Amortization of interest rate lock agreements | — |  |  | 488 |  |  | — |  |  | — |  |  | — |  |  | 488 |
Change in fair value of available-for- sale securities | — |  |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Other comprehensive income | — |  |  | 345 |  |  | — |  |  | 7,007 |  |  | — |  |  | 7,352 |
Comprehensive income | $ | 76,733 |  |  | $ | 23,937 |  |  | $ | 50,272 |  |  | $ | 10,539 |  |  | $ | (77,396 | ) |  | $ | 84,085 |
Condensed Consolidating Statement of Comprehensive Income Three Months Ended August 31, 2011 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Net income | $ | 68,638 |  |  | $ | 31,893 |  |  | $ | 38,708 |  |  | $ | 4,872 |  |  | $ | (75,473 | ) |  | $ | 68,638 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | 218 |  |  | — |  |  | 218 |
Change in fair value of derivatives | — |  |  | 82 |  |  | — |  |  | 71 |  |  | — |  |  | 153 |
Amortization of interest rate lock agreements | — |  |  | 377 |  |  | — |  |  | — |  |  | — |  |  | 377 |
Change in fair value of available-for- sale securities | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Other comprehensive income | — |  |  | 459 |  |  | — |  |  | 307 |  |  | — |  |  | 766 |
Comprehensive income | $ | 68,638 |  |  | $ | 32,352 |  |  | $ | 38,708 |  |  | $ | 5,179 |  |  | $ | (75,473 | ) |  | $ | 69,404 |
Condensed Consolidating Balance Sheet As of August 31, 2012 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 69,882 |  |  | $ | 211,194 |  |  | $ | 38,141 |  |  | $ | — |  |  | $ | 319,217 |
Marketable securities | — |  |  | — |  |  | — |  |  | 10,948 |  |  | — |  |  | 10,948 |
Accounts receivable, net | — |  |  | 336,900 |  |  | 82,233 |  |  | 40,169 |  |  | — |  |  | 459,302 |
Inventories, net | — |  |  | 202,689 |  |  | 19,997 |  |  | 10,893 |  |  | 8,120 |  |  | 241,699 |
Uniforms and other rental items in service | — |  |  | 341,438 |  |  | 105,298 |  |  | 35,591 |  |  | (19,786 | ) |  | 462,541 |
Prepaid expenses and other | — |  |  | 7,704 |  |  | 18,248 |  |  | 4,218 |  |  | — |  |  | 30,170 |
Total current assets | — |  |  | 958,613 |  |  | 436,970 |  |  | 139,960 |  |  | (11,666 | ) |  | 1,523,877 |
Property and equipment, at cost, net | — |  |  | 603,680 |  |  | 261,647 |  |  | 88,434 |  |  | — |  |  | 953,761 |
Goodwill | — |  |  | — |  |  | 1,420,051 |  |  | 69,053 |  |  | — |  |  | 1,489,104 |
Service contracts, net | — |  |  | 67,134 |  |  | 261 |  |  | 4,902 |  |  | — |  |  | 72,297 |
Other assets, net | 1,645,153 |  |  | 1,627,262 |  |  | 2,547,273 |  |  | 758,233 |  |  | (6,464,725 | ) |  | 113,196 |
| $ | 1,645,153 |  |  | $ | 3,256,689 |  |  | $ | 4,666,202 |  |  | $ | 1,060,582 |  |  | $ | (6,476,391 | ) |  | $ | 4,152,235 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | (465,247 | ) |  | $ | (510,373 | ) |  | $ | 1,032,986 |  |  | $ | 15,521 |  |  | $ | 38,019 |  |  | $ | 110,906 |
Accrued compensation and related liabilities | — |  |  | 28,271 |  |  | 8,884 |  |  | 3,376 |  |  | — |  |  | 40,531 |
Accrued liabilities | — |  |  | 41,394 |  |  | 160,562 |  |  | 11,484 |  |  | — |  |  | 213,440 |
Income taxes, current | — |  |  | 540 |  |  | 20,991 |  |  | (13,601 | ) |  | — |  |  | 7,930 |
Deferred tax (asset) liability | — |  |  | (558 | ) |  | 7,957 |  |  | 3,269 |  |  | — |  |  | 10,668 |
Long-term debt due within one year | — |  |  | 885 |  |  | (249 | ) |  | — |  |  | — |  |  | 636 |
Total current liabilities | (465,247 | ) |  | (439,841 | ) |  | 1,231,131 |  |  | 20,049 |  |  | 38,019 |  |  | 384,111 |
Long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt due after one year | — |  |  | 1,318,417 |  |  | (10,253 | ) |  | 848 |  |  | — |  |  | 1,309,012 |
Deferred income taxes | — |  |  | (6 | ) |  | 201,124 |  |  | 5,738 |  |  | — |  |  | 206,856 |
Accrued liabilities | — |  |  | — |  |  | 97,088 |  |  | 753 |  |  | — |  |  | 97,841 |
Total long-term liabilities | — |  |  | 1,318,411 |  |  | 287,959 |  |  | 7,339 |  |  | — |  |  | 1,613,709 |
Total shareholders’ equity | 2,110,400 |  |  | 2,378,119 |  |  | 3,147,112 |  |  | 1,033,194 |  |  | (6,514,410 | ) |  | 2,154,415 |
| $ | 1,645,153 |  |  | $ | 3,256,689 |  |  | $ | 4,666,202 |  |  | $ | 1,060,582 |  |  | $ | (6,476,391 | ) |  | $ | 4,152,235 |
Condensed Consolidating Balance Sheet As of May 31, 2012 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 58,737 |  |  | $ | 229,287 |  |  | $ | 51,801 |  |  | $ | — |  |  | $ | 339,825 |
Accounts receivable, net | — |  |  | 327,442 |  |  | 81,243 |  |  | 42,176 |  |  | — |  |  | 450,861 |
Inventories, net | — |  |  | 210,283 |  |  | 20,258 |  |  | 10,781 |  |  | 9,883 |  |  | 251,205 |
Uniforms and other rental items in service | — |  |  | 337,298 |  |  | 101,435 |  |  | 35,051 |  |  | (20,999 | ) |  | 452,785 |
Income taxes, current | — |  |  | 5,296 |  |  | 3,642 |  |  | 13,250 |  |  | — |  |  | 22,188 |
Prepaid expenses and other | — |  |  | 7,905 |  |  | 12,770 |  |  | 4,029 |  |  | — |  |  | 24,704 |
Total current assets | — |  |  | 946,961 |  |  | 448,635 |  |  | 157,088 |  |  | (11,116 | ) |  | 1,541,568 |
Property and equipment, at cost, net | — |  |  | 600,565 |  |  | 259,744 |  |  | 83,996 |  |  | — |  |  | 944,305 |
Goodwill | — |  |  | — |  |  | 1,419,535 |  |  | 65,840 |  |  | — |  |  | 1,485,375 |
Service contracts, net | — |  |  | 71,337 |  |  | 326 |  |  | 5,159 |  |  | — |  |  | 76,822 |
Other assets, net | 1,637,225 |  |  | 1,628,516 |  |  | 2,467,198 |  |  | 759,439 |  |  | (6,379,542 | ) |  | 112,836 |
| $ | 1,637,225 |  |  | $ | 3,247,379 |  |  | $ | 4,595,438 |  |  | $ | 1,071,522 |  |  | $ | (6,390,658 | ) |  | $ | 4,160,906 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | (465,247 | ) |  | $ | (475,624 | ) |  | $ | 978,932 |  |  | $ | 18,760 |  |  | $ | 38,019 |  |  | $ | 94,840 |
Accrued compensation and related liabilities | — |  |  | 63,797 |  |  | 21,619 |  |  | 5,798 |  |  | — |  |  | 91,214 |
Accrued liabilities | — |  |  | 67,651 |  |  | 176,220 |  |  | 13,557 |  |  | (786 | ) |  | 256,642 |
Deferred tax (asset) liability | — |  |  | (538 | ) |  | (87 | ) |  | 3,184 |  |  | — |  |  | 2,559 |
Long-term debt due within one year | — |  |  | 225,866 |  |  | (230 | ) |  | — |  |  | — |  |  | 225,636 |
Total current liabilities | (465,247 | ) |  | (118,848 | ) |  | 1,176,454 |  |  | 41,299 |  |  | 37,233 |  |  | 670,891 |
Long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt due after one year | — |  |  | 1,068,820 |  |  | (11,288 | ) |  | 848 |  |  | 786 |  |  | 1,059,166 |
Deferred income taxes | — |  |  | (6 | ) |  | 199,404 |  |  | 5,183 |  |  | — |  |  | 204,581 |
Accrued liabilities | — |  |  | — |  |  | 86,406 |  |  | 727 |  |  | — |  |  | 87,133 |
Total long-term liabilities | — |  |  | 1,068,814 |  |  | 274,522 |  |  | 6,758 |  |  | 786 |  |  | 1,350,880 |
Total shareholders’ equity | 2,102,472 |  |  | 2,297,413 |  |  | 3,144,462 |  |  | 1,023,465 |  |  | (6,428,677 | ) |  | 2,139,135 |
| $ | 1,637,225 |  |  | $ | 3,247,379 |  |  | $ | 4,595,438 |  |  | $ | 1,071,522 |  |  | $ | (6,390,658 | ) |  | $ | 4,160,906 |
Condensed Consolidating Statement of Cash Flows Three Months Ended August 31, 2012 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 76,733 |  |  | $ | 23,592 |  |  | $ | 50,272 |  |  | $ | 3,532 |  |  | $ | (77,396 | ) |  | $ | 76,733 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation | — |  |  | 23,845 |  |  | 13,280 |  |  | 3,217 |  |  | — |  |  | 40,342 |
Amortization of deferred charges | — |  |  | 5,127 |  |  | 75 |  |  | 898 |  |  | — |  |  | 6,100 |
Stock-based compensation | 5,448 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,448 |
Deferred income taxes | — |  |  | — |  |  | 9,764 |  |  | (48 | ) |  | — |  |  | 9,716 |
Changes in current assets and liabilities, net of acquisitions of businesses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net | — |  |  | (9,426 | ) |  | (880 | ) |  | 3,178 |  |  | — |  |  | (7,128 | )
Inventories, net | — |  |  | 7,594 |  |  | 261 |  |  | 271 |  |  | 1,763 |  |  | 9,889 |
Uniforms and other rental items in service | — |  |  | (4,140 | ) |  | (3,864 | ) |  | 545 |  |  | (1,213 | ) |  | (8,672 | )
Prepaid expenses and other | — |  |  | 201 |  |  | (5,478 | ) |  | (115 | ) |  | — |  |  | (5,392 | )
Accounts payable | — |  |  | (34,149 | ) |  | 53,816 |  |  | (3,389 | ) |  | — |  |  | 16,278 |
Accrued compensation and related liabilities | — |  |  | (35,526 | ) |  | (12,735 | ) |  | (2,532 | ) |  | — |  |  | (50,793 | )
Accrued liabilities | — |  |  | (20,442 | ) |  | (4,977 | ) |  | (2,767 | ) |  | 786 |  |  | (27,400 | )
Income taxes payable | — |  |  | 5,845 |  |  | 24,635 |  |  | (736 | ) |  | — |  |  | 29,744 |
Net cash provided by (used in) operating activities | 82,181 |  |  | (37,479 | ) |  | 124,169 |  |  | 2,054 |  |  | (76,060 | ) |  | 94,865 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (26,987 | ) |  | (15,169 | ) |  | (5,282 | ) |  | — |  |  | (47,438 | )
Proceeds from redemption of marketable securities | — |  |  | — |  |  | — |  |  | 24,720 |  |  | — |  |  | 24,720 |
Purchase of marketable securities and investments | — |  |  | 529 |  |  | (1,244 | ) |  | (35,445 | ) |  | (810 | ) |  | (36,970 | )
Acquisitions of businesses, net of cash acquired | — |  |  | (1,343 | ) |  | — |  |  | (787 | ) |  | — |  |  | (2,130 | )
Other | (7,928 | ) |  | 57,262 |  |  | (126,388 | ) |  | (25 | ) |  | 77,656 |  |  | 577 |
Net cash (used in) provided by investing activities | (7,928 | ) |  | 29,461 |  |  | (142,801 | ) |  | (16,819 | ) |  | 76,846 |  |  | (61,241 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of debt | — |  |  | 250,000 |  |  | (477 | ) |  | 477 |  |  | — |  |  | 250,000 |
Repayment of debt | — |  |  | (225,384 | ) |  | 1,016 |  |  | — |  |  | (786 | ) |  | (225,154 | )
Exercise of stock-based compensation awards | 1,119 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,119 |
Repurchase of common stock | (77,953 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (77,953 | )
Other | 2,581 |  |  | (5,453 | ) |  | — |  |  | (619 | ) |  | — |  |  | (3,491 | )
Net cash (used in) provided by financing activities | (74,253 | ) |  | 19,163 |  |  | 539 |  |  | (142 | ) |  | (786 | ) |  | (55,479 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | 1,247 |  |  | — |  |  | 1,247 |
Net increase (decrease) in cash and cash equivalents | — |  |  | 11,145 |  |  | (18,093 | ) |  | (13,660 | ) |  | — |  |  | (20,608 | )
Cash and cash equivalents at beginning of period | — |  |  | 58,737 |  |  | 229,287 |  |  | 51,801 |  |  | — |  |  | 339,825 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | 69,882 |  |  | $ | 211,194 |  |  | $ | 38,141 |  |  | $ | — |  |  | $ | 319,217 |
Condensed Consolidating Statement of Cash Flows Three Months Ended August 31, 2011 (In thousands)
| Cintas Corporation |  | Corp. 2 |  | Subsidiary Guarantors |  | Non- Guarantors |  | Eliminations |  | Cintas Corporation Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 68,638 |  |  | $ | 31,893 |  |  | $ | 38,708 |  |  | $ | 4,872 |  |  | $ | (75,473 | ) |  | $ | 68,638 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation | — |  |  | 23,365 |  |  | 11,711 |  |  | 3,201 |  |  | — |  |  | 38,277 |
Amortization of deferred charges | — |  |  | 8,789 |  |  | 103 |  |  | 1,341 |  |  | — |  |  | 10,233 |
Stock-based compensation | 4,522 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,522 |
Deferred income taxes | — |  |  | (2 | ) |  | (7,901 | ) |  | 95 |  |  | — |  |  | (7,808 | )
Changes in current assets and liabilities, net of acquisitions of businesses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net | — |  |  | (5,811 | ) |  | (2,555 | ) |  | (1,776 | ) |  | — |  |  | (10,142 | )
Inventories, net | — |  |  | (29,331 | ) |  | (4,800 | ) |  | (164 | ) |  | 3,525 |  |  | (30,770 | )
Uniforms and other rental items in service | — |  |  | (10,416 | ) |  | (3,874 | ) |  | (143 | ) |  | 3,309 |  |  | (11,124 | )
Prepaid expenses and other | — |  |  | 264 |  |  | (6,316 | ) |  | 69 |  |  | — |  |  | (5,983 | )
Accounts payable | — |  |  | (25,392 | ) |  | 11,474 |  |  | 4,589 |  |  | — |  |  | (9,329 | )
Accrued compensation and related liabilities | — |  |  | (18,198 | ) |  | (8,170 | ) |  | (1,243 | ) |  | — |  |  | (27,611 | )
Accrued liabilities | — |  |  | (11,479 | ) |  | 3,132 |  |  | (2,658 | ) |  | 804 |  |  | (10,201 | )
Income taxes payable | — |  |  | 5,400 |  |  | 40,452 |  |  | 2,008 |  |  | — |  |  | 47,860 |
Net cash provided by (used in) operating activities | 73,160 |  |  | (30,918 | ) |  | 71,964 |  |  | 10,191 |  |  | (67,835 | ) |  | 56,562 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (22,735 | ) |  | (18,184 | ) |  | (3,502 | ) |  | — |  |  | (44,421 | )
Proceeds from redemption of marketable securities | — |  |  | — |  |  | — |  |  | 63,561 |  |  | — |  |  | 63,561 |
Purchase of marketable securities and investments | — |  |  | (649 | ) |  | (7,743 | ) |  | (103,418 | ) |  | 4,665 |  |  | (107,145 | )
Acquisitions of businesses, net of cash acquired | — |  |  | (870 | ) |  | — |  |  | — |  |  | — |  |  | (870 | )
Other | 188,930 |  |  | 53,667 |  |  | (300,031 | ) |  | (1 | ) |  | 63,974 |  |  | 6,539 |
Net cash provided by (used in) investing activities | 188,930 |  |  | 29,413 |  |  | (325,958 | ) |  | (43,360 | ) |  | 68,639 |  |  | (82,336 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayment of debt | — |  |  | (359 | ) |  | 719 |  |  | — |  |  | (804 | ) |  | (444 | )
Exercise of stock-based compensation awards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Dividends paid | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Repurchase of common stock | (262,639 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (262,639 | )
Other | 549 |  |  | 377 |  |  | — |  |  | — |  |  | — |  |  | 926 |
Net cash (used in) provided by financing activities | (262,090 | ) |  | 18 |  |  | 719 |  |  | — |  |  | (804 | ) |  | (262,157 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | (4 | ) |  | — |  |  | 141 |  |  | — |  |  | 137 |
Net decrease in cash and cash equivalents | — |  |  | (1,491 | ) |  | (253,275 | ) |  | (33,028 | ) |  | — |  |  | (287,794 | )
Cash and cash equivalents at beginning of period | — |  |  | 54,957 |  |  | 313,283 |  |  | 69,866 |  |  | — |  |  | 438,106 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | 53,466 |  |  | $ | 60,008 |  |  | $ | 36,838 |  |  | $ | — |  |  | $ | 150,312 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 9 -Section 06 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 7 -Section 05 -Paragraph c Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6921628&loc=d3e5283-111683 + Details
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