Cash Flow

v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:      
Net income $ (38,889) $ 107,111 $ 73,933
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 90,793 76,974 67,981
Stock-based compensation expense 7,729 13,460 14,562
Deferred tax (benefit) provision (6,783) (23,125) 9,725
Gain on sale of assets, net (8,567) (2,190) (776)
Loss on divestitures 6,469 0 0
Unrealized gain on investments in mutual funds (305) (1,304) (2,660)
Losses from equity-method investments 2,050 0 0
Realized loss (gain) on cost-method investments 4,731 (3,771) 0
Goodwill write-down 77,572 0 0
Changes in working capital items (12,482) (9,934) 5,784
Decrease (increase) in other assets 4,677 (9,872) (17,256)
Increase in other liabilities 7,540 5,406 2,539
Other operating activities, net (3,452) (5,181) (4,533)
Net cash provided by operating activities 131,083 147,574 149,299
Cash flows from investing activities:      
Capital expenditures (37,688) (43,200) (44,935)
Acquisitions, net of cash acquired (11,504) (121,065) (98,235)
Proceeds from sale of assets 13,253 4,705 3,764
Proceeds from sale of investments 0 9,158 0
Proceeds from divestiture 8,254 0 0
Purchases of investments (33,074) (11,934) (2,211)
Net cash used in investing activities (60,759) (162,336) (141,617)
Cash flows from financing activities:      
Proceeds from long-term debt 503,693 704,188 417,043
Payments on long-term debt (519,731) (651,166) (388,447)
Acquisition holdback and contingent consideration payments (4,421) 0 0
Purchases of treasury stock (26,127) (21,181) (14,025)
Proceeds from the exercise of stock options 0 0 14
Dividends (25,620) (24,637) (21,762)
Other financing activities (2,836) (6,303) 0
Net cash (used in) provided by financing activities (75,042) 901 (7,177)
Effect of exchange rate changes on cash (1,552) (2,082) 1,299
Net change in cash and cash equivalents (6,270) (15,943) 1,804
Cash and cash equivalents at beginning of year 41,572 57,515 55,711
Cash and cash equivalents at end of year 35,302 41,572 57,515
Cash paid during the year for:      
Interest 41,453 37,232 26,271
Income taxes 15,467 11,014 8,472
Non-cash investing and financing activities:      
Acquisition of long-term asset under financing arrangement $ 0 $ 14,544 $ 0

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