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Condensed Consolidating Financial Information (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018
Condensed Consolidating Financial Information [Abstract] |  |  |
Consolidated Condensed Statements of Income |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands)
| For the Three Months Ended March 31, 2019
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 1,550,680 |  |  | $ | 1,586,877 |  |  | $ | (37,254 | ) |  | $ | 3,100,303 |
Cost of goods sold | — |  |  | 921,489 |  |  | 1,007,804 |  |  | (37,254 | ) |  | 1,892,039 |
Gross margin | — |  |  | 629,191 |  |  | 579,073 |  |  | — |  |  | 1,208,264 |
Selling, general and administrative expenses | 9,038 |  |  | 432,387 |  |  | 455,107 |  |  | — |  |  | 896,532 |
Restructuring and acquisition related expenses | — |  |  | 606 |  |  | 2,701 |  |  | — |  |  | 3,307 |
Impairment of net assets held for sale | — |  |  | 8,461 |  |  | 6,562 |  |  | — |  |  | 15,023 |
Depreciation and amortization | 54 |  |  | 25,073 |  |  | 45,875 |  |  | — |  |  | 71,002 |
Operating (loss) income | (9,092 | ) |  | 162,664 |  |  | 68,828 |  |  | — |  |  | 222,400 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense (income), net of interest income | 13,836 |  |  | (336 | ) |  | 22,589 |  |  | — |  |  | 36,089 |
Intercompany interest (income) expense, net | (15,086 | ) |  | 9,189 |  |  | 5,897 |  |  | — |  |  | — |
Other expense (income), net | 19 |  |  | (7,831 | ) |  | 3,961 |  |  | — |  |  | (3,851 | )
Total other (income) expense, net | (1,231 | ) |  | 1,022 |  |  | 32,447 |  |  | — |  |  | 32,238 |
(Loss) income before (benefit) provision for income taxes | (7,861 | ) |  | 161,642 |  |  | 36,381 |  |  | — |  |  | 190,162 |
(Benefit) provision for income taxes | (2,046 | ) |  | 43,303 |  |  | 10,293 |  |  | — |  |  | 51,550 |
Equity in earnings (losses) of unconsolidated subsidiaries | — |  |  | 1,147 |  |  | (40,696 | ) |  | — |  |  | (39,549 | )
Equity in earnings of subsidiaries | 103,863 |  |  | 9,712 |  |  | — |  |  | (113,575 | ) |  | — |
Net income (loss) | 98,048 |  |  | 129,198 |  |  | (14,608 | ) |  | (113,575 | ) |  | 99,063 |
Less: net income attributable to noncontrolling interest | — |  |  | — |  |  | 1,015 |  |  | — |  |  | 1,015 |
Net income (loss) attributable to LKQ stockholders | $ | 98,048 |  |  | $ | 129,198 |  |  | $ | (15,623 | ) |  | $ | (113,575 | ) |  | $ | 98,048 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Income (In thousands)
| For the Three Months Ended March 31, 2018
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Revenue | $ | — |  |  | $ | 1,577,595 |  |  | $ | 1,180,242 |  |  | $ | (37,073 | ) |  | $ | 2,720,764 |
Cost of goods sold | — |  |  | 945,915 |  |  | 757,951 |  |  | (37,073 | ) |  | 1,666,793 |
Gross margin | — |  |  | 631,680 |  |  | 422,291 |  |  | — |  |  | 1,053,971 |
Selling, general and administrative expenses | 9,130 |  |  | 426,797 |  |  | 330,964 |  |  | — |  |  | 766,891 |
Restructuring and acquisition related expenses | — |  |  | 330 |  |  | 3,724 |  |  | — |  |  | 4,054 |
Depreciation and amortization | 29 |  |  | 24,338 |  |  | 32,091 |  |  | — |  |  | 56,458 |
Operating (loss) income | (9,159 | ) |  | 180,215 |  |  | 55,512 |  |  | — |  |  | 226,568 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net of interest income | 18,008 |  |  | 212 |  |  | 10,295 |  |  | — |  |  | 28,515 |
Intercompany interest (income) expense, net | (15,400 | ) |  | 9,680 |  |  | 5,720 |  |  | — |  |  | — |
Other (income) expense, net | (1,015 | ) |  | (5,882 | ) |  | 4,015 |  |  | — |  |  | (2,882 | )
Total other expense, net | 1,593 |  |  | 4,010 |  |  | 20,030 |  |  | — |  |  | 25,633 |
(Loss) income before (benefit) provision for income taxes | (10,752 | ) |  | 176,205 |  |  | 35,482 |  |  | — |  |  | 200,935 |
(Benefit) provision for income taxes | (3,904 | ) |  | 45,877 |  |  | 7,611 |  |  | — |  |  | 49,584 |
Equity in earnings of unconsolidated subsidiaries | — |  |  | — |  |  | 1,412 |  |  | — |  |  | 1,412 |
Equity in earnings of subsidiaries | 159,808 |  |  | 5,110 |  |  | — |  |  | (164,918 | ) |  | — |
Net income | 152,960 |  |  | 135,438 |  |  | 29,283 |  |  | (164,918 | ) |  | 152,763 |
Less: net loss attributable to noncontrolling interest | — |  |  | — |  |  | (197 | ) |  | — |  |  | (197 | )
Net income attributable to LKQ stockholders | $ | 152,960 |  |  | $ | 135,438 |  |  | $ | 29,480 |  |  | $ | (164,918 | ) |  | $ | 152,960 |
Consolidated Condensed Statements of Comprehensive Income (Loss) |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands)
| For the Three Months Ended March 31, 2019
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income (loss) | $ | 98,048 |  |  | $ | 129,198 |  |  | $ | (14,608 | ) |  | $ | (113,575 | ) |  | $ | 99,063 |
Less: net income attributable to noncontrolling interest | — |  |  | — |  |  | 1,015 |  |  | — |  |  | 1,015 |
Net income (loss) attributable to LKQ stockholders | 98,048 |  |  | 129,198 |  |  | (15,623 | ) |  | (113,575 | ) |  | 98,048 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation, net of tax | (9,895 | ) |  | 2,194 |  |  | (10,466 | ) |  | 8,272 |  |  | (9,895 | )
Net change in unrealized gains/losses on cash flow hedges, net of tax | (2,737 | ) |  | — |  |  | — |  |  | — |  |  | (2,737 | )
Net change in unrealized gains/losses on pension plans, net of tax | 191 |  |  | (4 | ) |  | 195 |  |  | (191 | ) |  | 191 |
Net change in other comprehensive loss from unconsolidated subsidiaries | (3,463 | ) |  | — |  |  | (3,463 | ) |  | 3,463 |  |  | (3,463 | )
Other comprehensive (loss) income | (15,904 | ) |  | 2,190 |  |  | (13,734 | ) |  | 11,544 |  |  | (15,904 | )
Comprehensive income (loss) | 82,144 |  |  | 131,388 |  |  | (28,342 | ) |  | (102,031 | ) |  | 83,159 |
Less: comprehensive income attributable to noncontrolling interest | — |  |  | — |  |  | 1,015 |  |  | — |  |  | 1,015 |
Comprehensive income (loss) attributable to LKQ stockholders | $ | 82,144 |  |  | $ | 131,388 |  |  | $ | (29,357 | ) |  | $ | (102,031 | ) |  | $ | 82,144 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Comprehensive Income (In thousands)
| For the Three Months Ended March 31, 2018
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income | $ | 152,960 |  |  | $ | 135,438 |  |  | $ | 29,283 |  |  | $ | (164,918 | ) |  | $ | 152,763 |
Less: net loss attributable to noncontrolling interest | — |  |  | — |  |  | (197 | ) |  | — |  |  | (197 | )
Net income attributable to LKQ stockholders | 152,960 |  |  | 135,438 |  |  | 29,480 |  |  | (164,918 | ) |  | 152,960 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation, net of tax | 48,485 |  |  | (2,183 | ) |  | 49,055 |  |  | (46,872 | ) |  | 48,485 |
Net change in unrealized gains/losses on cash flow hedges, net of tax | 3,254 |  |  | — |  |  | — |  |  | — |  |  | 3,254 |
Net change in unrealized gains/losses on pension plans, net of tax | (621 | ) |  | (621 | ) |  | — |  |  | 621 |  |  | (621 | )
Net change in other comprehensive loss from unconsolidated subsidiaries | (605 | ) |  | — |  |  | (605 | ) |  | 605 |  |  | (605 | )
Other comprehensive income (loss) | 50,513 |  |  | (2,804 | ) |  | 48,450 |  |  | (45,646 | ) |  | 50,513 |
Comprehensive income | 203,473 |  |  | 132,634 |  |  | 77,733 |  |  | (210,564 | ) |  | 203,276 |
Less: comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | (197 | ) |  | — |  |  | (197 | )
Comprehensive income attributable to LKQ stockholders | $ | 203,473 |  |  | $ | 132,634 |  |  | $ | 77,930 |  |  | $ | (210,564 | ) |  | $ | 203,473 |
Consolidated Condensed Balance Sheets |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands)
| March 31, 2019
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 40,703 |  |  | $ | 31,744 |  |  | $ | 243,619 |  |  | $ | — |  |  | $ | 316,066 |
Receivables, net | 386 |  |  | 366,235 |  |  | 986,870 |  |  | — |  |  | 1,353,491 |
Intercompany receivables, net | 7,411 |  |  | — |  |  | 19,147 |  |  | (26,558 | ) |  | — |
Inventories | — |  |  | 1,245,544 |  |  | 1,446,462 |  |  | — |  |  | 2,692,006 |
Prepaid expenses and other current assets | 4,668 |  |  | 162,616 |  |  | 115,923 |  |  | — |  |  | 283,207 |
Total current assets | 53,168 |  |  | 1,806,139 |  |  | 2,812,021 |  |  | (26,558 | ) |  | 4,644,770 |
Property, plant and equipment, net | 1,630 |  |  | 600,965 |  |  | 603,747 |  |  | — |  |  | 1,206,342 |
Operating lease assets, net | 3,857 |  |  | 801,420 |  |  | 474,299 |  |  | — |  |  | 1,279,576 |
Intangible assets: |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,973,101 |  |  | 2,381,205 |  |  | — |  |  | 4,354,306 |
Other intangibles, net | 234 |  |  | 260,491 |  |  | 628,884 |  |  | — |  |  | 889,609 |
Investment in subsidiaries | 5,288,058 |  |  | 123,496 |  |  | — |  |  | (5,411,554 | ) |  | — |
Intercompany notes receivable | 1,183,505 |  |  | 51,118 |  |  | — |  |  | (1,234,623 | ) |  | — |
Equity method investments | — |  |  | 17,551 |  |  | 116,683 |  |  | — |  |  | 134,234 |
Other assets | 72,335 |  |  | 40,183 |  |  | 44,555 |  |  | — |  |  | 157,073 |
Total assets | $ | 6,602,787 |  |  | $ | 5,674,464 |  |  | $ | 7,061,394 |  |  | $ | (6,672,735 | ) |  | $ | 12,665,910 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 2,111 |  |  | $ | 339,448 |  |  | $ | 611,129 |  |  | $ | — |  |  | $ | 952,688 |
Intercompany payables, net | — |  |  | 19,147 |  |  | 7,411 |  |  | (26,558 | ) |  | — |
Accrued expenses: |  |  |  |  |  |  |  |  |
Accrued payroll-related liabilities | 4,967 |  |  | 33,658 |  |  | 104,401 |  |  | — |  |  | 143,026 |
Other accrued expenses | 12,930 |  |  | 105,465 |  |  | 199,431 |  |  | — |  |  | 317,826 |
Refund liability | — |  |  | 51,082 |  |  | 54,353 |  |  | — |  |  | 105,435 |
Other current liabilities | 16,590 |  |  | 22,596 |  |  | 60,872 |  |  | — |  |  | 100,058 |
Current portion of operating lease liabilities | 204 |  |  | 116,053 |  |  | 99,915 |  |  | — |  |  | 216,172 |
Current portion of long-term obligations | 10,649 |  |  | 3,326 |  |  | 122,308 |  |  | — |  |  | 136,283 |
Total current liabilities | 47,451 |  |  | 690,775 |  |  | 1,259,820 |  |  | (26,558 | ) |  | 1,971,488 |
Long-term operating lease liabilities, excluding current portion | 4,054 |  |  | 712,259 |  |  | 393,501 |  |  | — |  |  | 1,109,814 |
Long-term obligations, excluding current portion | 1,624,269 |  |  | 16,248 |  |  | 2,452,249 |  |  | — |  |  | 4,092,766 |
Intercompany notes payable | — |  |  | 577,301 |  |  | 657,322 |  |  | (1,234,623 | ) |  | — |
Deferred income taxes | 7,187 |  |  | 135,287 |  |  | 163,296 |  |  | — |  |  | 305,770 |
Other noncurrent liabilities | 120,344 |  |  | 75,446 |  |  | 133,508 |  |  | — |  |  | 329,298 |
Stockholders' equity: |  |  |  |  |  |  |  |  |
Total Company stockholders’ equity | 4,799,482 |  |  | 3,467,148 |  |  | 1,944,406 |  |  | (5,411,554 | ) |  | 4,799,482 |
Noncontrolling interest | — |  |  | — |  |  | 57,292 |  |  | — |  |  | 57,292 |
Total stockholders’ equity | 4,799,482 |  |  | 3,467,148 |  |  | 2,001,698 |  |  | (5,411,554 | ) |  | 4,856,774 |
Total liabilities and stockholders' equity | $ | 6,602,787 |  |  | $ | 5,674,464 |  |  | $ | 7,061,394 |  |  | $ | (6,672,735 | ) |  | $ | 12,665,910 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Balance Sheets (In thousands)
| December 31, 2018
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 25,633 |  |  | $ | 29,285 |  |  | $ | 276,843 |  |  | $ | — |  |  | $ | 331,761 |
Receivables, net | 310 |  |  | 316,726 |  |  | 837,047 |  |  | — |  |  | 1,154,083 |
Intercompany receivables, net | 6,978 |  |  | — |  |  | 12,880 |  |  | (19,858 | ) |  | — |
Inventories | — |  |  | 1,343,612 |  |  | 1,492,463 |  |  | — |  |  | 2,836,075 |
Prepaid expenses and other current assets | 18,611 |  |  | 99,356 |  |  | 81,063 |  |  | — |  |  | 199,030 |
Total current assets | 51,532 |  |  | 1,788,979 |  |  | 2,700,296 |  |  | (19,858 | ) |  | 4,520,949 |
Property, plant and equipment, net | 1,547 |  |  | 600,054 |  |  | 618,561 |  |  | — |  |  | 1,220,162 |
Intangible assets: |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,973,364 |  |  | 2,408,094 |  |  | — |  |  | 4,381,458 |
Other intangibles, net | 260 |  |  | 272,451 |  |  | 656,041 |  |  | — |  |  | 928,752 |
Investment in subsidiaries | 5,224,006 |  |  | 111,826 |  |  | — |  |  | (5,335,832 | ) |  | — |
Intercompany notes receivable | 1,220,582 |  |  | 10,515 |  |  | — |  |  | (1,231,097 | ) |  | — |
Equity method investments | — |  |  | 16,404 |  |  | 162,765 |  |  | — |  |  | 179,169 |
Other assets | 70,283 |  |  | 40,548 |  |  | 52,081 |  |  | — |  |  | 162,912 |
Total assets | $ | 6,568,210 |  |  | $ | 4,814,141 |  |  | $ | 6,597,838 |  |  | $ | (6,586,787 | ) |  | $ | 11,393,402 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 2,454 |  |  | $ | 343,116 |  |  | $ | 596,828 |  |  | $ | — |  |  | $ | 942,398 |
Intercompany payables, net | — |  |  | 12,880 |  |  | 6,978 |  |  | (19,858 | ) |  | — |
Accrued expenses: |  |  |  |  |  |  |  |  |
Accrued payroll-related liabilities | 6,652 |  |  | 70,267 |  |  | 95,086 |  |  | — |  |  | 172,005 |
Other accrued expenses | 5,454 |  |  | 105,672 |  |  | 177,299 |  |  | — |  |  | 288,425 |
Refund liability | — |  |  | 50,899 |  |  | 53,686 |  |  | — |  |  | 104,585 |
Other current liabilities | 283 |  |  | 17,860 |  |  | 42,966 |  |  | — |  |  | 61,109 |
Current portion of long-term obligations | 8,459 |  |  | 2,932 |  |  | 110,435 |  |  | — |  |  | 121,826 |
Total current liabilities | 23,302 |  |  | 603,626 |  |  | 1,083,278 |  |  | (19,858 | ) |  | 1,690,348 |
Long-term obligations, excluding current portion | 1,628,677 |  |  | 13,532 |  |  | 2,546,465 |  |  | — |  |  | 4,188,674 |
Intercompany notes payable | — |  |  | 597,283 |  |  | 633,814 |  |  | (1,231,097 | ) |  | — |
Deferred income taxes | 8,045 |  |  | 135,355 |  |  | 168,034 |  |  | — |  |  | 311,434 |
Other noncurrent liabilities | 125,888 |  |  | 99,147 |  |  | 139,159 |  |  | — |  |  | 364,194 |
Stockholders' equity: |  |  |  |  |  |  |  |  |
Total Company stockholders’ equity | 4,782,298 |  |  | 3,365,198 |  |  | 1,970,634 |  |  | (5,335,832 | ) |  | 4,782,298 |
Noncontrolling interest | — |  |  | — |  |  | 56,454 |  |  | — |  |  | 56,454 |
Total stockholders’ equity | 4,782,298 |  |  | 3,365,198 |  |  | 2,027,088 |  |  | (5,335,832 | ) |  | 4,838,752 |
Total liabilities and stockholders' equity | $ | 6,568,210 |  |  | $ | 4,814,141 |  |  | $ | 6,597,838 |  |  | $ | (6,586,787 | ) |  | $ | 11,393,402 |
Consolidated Condensed Statements of Cash Flows |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands)
| For the Three Months Ended March 31, 2019
| Parent |  | Guarantors |  | Non-Guarantors (1) |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 65,970 |  |  | $ | 9,150 |  |  | $ | 54,335 |  |  | $ | 47,770 |  |  | $ | 177,225 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (438 | ) |  | (30,128 | ) |  | (22,450 | ) |  | — |  |  | (53,016 | )
Investment and intercompany note activity with subsidiaries | 23,342 |  |  | — |  |  | — |  |  | (23,342 | ) |  | — |
Acquisitions, net of cash acquired | — |  |  | (152 | ) |  | (4,633 | ) |  | — |  |  | (4,785 | )
Receipts of deferred purchase price on receivables under factoring arrangements | — |  |  | 75,123 |  |  | — |  |  | (75,123 | ) |  | — |
Other investing activities, net | — |  |  | 89 |  |  | (72 | ) |  | — |  |  | 17 |
Net cash provided by (used in) investing activities | 22,904 |  |  | 44,932 |  |  | (27,155 | ) |  | (98,465 | ) |  | (57,784 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options | 1,334 |  |  | — |  |  | — |  |  | — |  |  | 1,334 |
Taxes paid related to net share settlements of stock-based compensation awards | (1,505 | ) |  | — |  |  | — |  |  | — |  |  | (1,505 | )
Purchase of treasury stock | (70,462 | ) |  | — |  |  | — |  |  | — |  |  | (70,462 | )
Borrowings under revolving credit facilities | 194,000 |  |  | — |  |  | 90,641 |  |  | — |  |  | 284,641 |
Repayments under revolving credit facilities | (194,966 | ) |  | — |  |  | (117,373 | ) |  | — |  |  | (312,339 | )
Repayments under term loans | (2,188 | ) |  | — |  |  | — |  |  | — |  |  | (2,188 | )
Borrowings under receivables securitization facility | — |  |  | — |  |  | 6,600 |  |  | — |  |  | 6,600 |
Repayments under receivables securitization facility | — |  |  | — |  |  | (36,910 | ) |  | — |  |  | (36,910 | )
Borrowings (repayments) of other debt, net | — |  |  | 763 |  |  | (1,388 | ) |  | — |  |  | (625 | )
Other financing activities, net | (17 | ) |  | — |  |  | (1,260 | ) |  | — |  |  | (1,277 | )
Investment and intercompany note activity with parent | — |  |  | (25,502 | ) |  | 2,160 |  |  | 23,342 |  |  | — |
Dividends | — |  |  | (27,353 | ) |  | — |  |  | 27,353 |  |  | — |
Net cash used in financing activities | (73,804 | ) |  | (52,092 | ) |  | (57,530 | ) |  | 50,695 |  |  | (132,731 | )
Effect of exchange rate changes on cash, cash equivalents and restricted cash | — |  |  | 469 |  |  | (2,982 | ) |  | — |  |  | (2,513 | )
Net increase (decrease) in cash, cash equivalents and restricted cash | 15,070 |  |  | 2,459 |  |  | (33,332 | ) |  | — |  |  | (15,803 | )
Cash, cash equivalents and restricted cash, beginning of period | 25,633 |  |  | 29,285 |  |  | 282,332 |  |  | — |  |  | 337,250 |
Cash, cash equivalents and restricted cash, end of period | $ | 40,703 |  |  | $ | 31,744 |  |  | $ | 249,000 |  |  | $ | — |  |  | $ | 321,447 |
LKQ CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidating Statements of Cash Flows (In thousands)
| For the Three Months Ended March 31, 2018
| Parent |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |  |  |
Net cash provided by operating activities | $ | 95,942 |  |  | $ | 35,802 |  |  | $ | 243 |  |  | $ | 13,176 |  |  | $ | 145,163 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (163 | ) |  | (29,908 | ) |  | (32,118 | ) |  | — |  |  | (62,189 | )
Investment and intercompany note activity with subsidiaries | 24,333 |  |  | — |  |  | — |  |  | (24,333 | ) |  | — |
Acquisitions, net of cash acquired | — |  |  | (2,966 | ) |  | — |  |  | — |  |  | (2,966 | )
Receipts of deferred purchase price on receivables under factoring arrangements (1) | — |  |  | 68,171 |  |  | — |  |  | (68,171 | ) |  | — |
Other investing activities, net | — |  |  | (145 | ) |  | 679 |  |  | — |  |  | 534 |
Net cash provided by (used in) investing activities | 24,170 |  |  | 35,152 |  |  | (31,439 | ) |  | (92,504 | ) |  | (64,621 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from exercise of stock options | 2,255 |  |  | — |  |  | — |  |  | — |  |  | 2,255 |
Taxes paid related to net share settlements of stock-based compensation awards | (3,292 | ) |  | — |  |  | — |  |  | — |  |  | (3,292 | )
Borrowings under revolving credit facilities | 161,000 |  |  | — |  |  | 40,669 |  |  | — |  |  | 201,669 |
Repayments under revolving credit facilities | (291,966 | ) |  | — |  |  | (29,559 | ) |  | — |  |  | (321,525 | )
Repayments under term loans | (4,405 | ) |  | — |  |  | — |  |  | — |  |  | (4,405 | )
(Repayments) borrowings of other debt, net | — |  |  | (30 | ) |  | 4,439 |  |  | — |  |  | 4,409 |
Other financing activities, net | (724 | ) |  | — |  |  | 4,107 |  |  | — |  |  | 3,383 |
Investment and intercompany note activity with parent | — |  |  | (21,759 | ) |  | (2,574 | ) |  | 24,333 |  |  | — |
Dividends | — |  |  | (54,995 | ) |  | — |  |  | 54,995 |  |  | — |
Net cash (used in) provided by financing activities | (137,132 | ) |  | (76,784 | ) |  | 17,082 |  |  | 79,328 |  |  | (117,506 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | (326 | ) |  | 3,203 |  |  | — |  |  | 2,877 |
Net decrease in cash and cash equivalents | (17,020 | ) |  | (6,156 | ) |  | (10,911 | ) |  | — |  |  | (34,087 | )
Cash and cash equivalents, beginning of period | 34,360 |  |  | 35,131 |  |  | 210,275 |  |  | — |  |  | 279,766 |
Cash and cash equivalents, end of period | $ | 17,340 |  |  | $ | 28,975 |  |  | $ | 199,364 |  |  | $ | — |  |  | $ | 245,679 |

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