XML 20 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 118,148 $ 120,461 $ 155,155
Adjustments to reconcile net income to net cash provided (used) by operating activities:      
Depreciation 36,754 35,394 37,257
Amortization 890 1,930 1,642
Provisions for losses on advances and guaranteed loans to suppliers 815 3,734 6,705
Inventory write-downs 11,899 18,612 7,654
Stock-based compensation expense 5,206 6,230 6,278
Foreign currency remeasurement loss (gain), net 22,517 28,836 14,322
Deferred income taxes 15,046 (13,662) (2,176)
Equity in net income of unconsolidated affiliates, net of dividends 156 (1,075) 3,420
Gain on favorable outcome of excise tax case in Brazil 0 (12,676) (81,619)
Fair value gain upon acquisition of partner's interest in joint venture (3,390) 0 0
Restructuring and impairment costs 2,389 4,890 6,746
Other, net 12,314 (9,272) 2,251
Changes in operating assets and liabilities, net:      
Accounts and notes receivable (2,806) 49,414 (89,536)
Inventories and other assets (7,370) 37,751 (47,492)
Income taxes (1,503) 4,790 11,391
Accounts payable and accrued liabilities (13,678) (63,257) (27,345)
Customer advances and deposits (13,796) 14,397 (8,156)
Net cash provided (used) by operating activities 183,591 226,497 (3,503)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (47,153) (58,385) (45,849)
Purchase of partner's interest in joint venture, net of cash held by the business (5,964) 0 0
Proceeds from sale of property, plant and equipment 2,982 4,522 2,746
Other, net (796) (141) 1,033
Net cash used by investing activities (50,931) (54,004) (42,070)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance (repayment) of short-term debt, net 4,880 2,618 (43,727)
Issuance of long-term debt 0 370,000 175,000
Repayment of long-term debt 0 (356,250) (211,250)
Dividends paid to noncontrolling interests (4,449) (4,183) (1,971)
Issuance of common stock 0 187 457
Repurchase of convertible perpetual preferred stock 0 (1,497) 0
Repurchase of common stock 0 (31,227) (14,145)
Dividends paid on convertible perpetual preferred stock (14,748) (14,824) (14,850)
Dividends paid on common stock (47,389) (47,337) (46,721)
Debt issuance costs and other 0 (3,621) (875)
Net cash used by financing activities (61,706) (86,134) (158,082)
Effect of exchange rate changes on cash (290) (1,108) (677)
Net increase (decrease) in cash and cash equivalents 70,664 85,251 (204,332)
Cash and cash equivalents at beginning of year 248,783 163,532 367,864
Cash and cash equivalents at end of year 319,447 248,783 163,532
Supplemental information - cash paid for:      
Interest 15,704 19,184 25,116
Income taxes, net of refunds $ 38,732 $ 46,044 $ 65,511