XML 56 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Operating activities:        
Net income $ 66,341 $ 23,273 $ 100,039 $ 64,525
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 58,441 56,826 116,009 113,887
Equity-based compensation 4,700 2,344 10,468 7,097
Impairment charges   308   308
Deferred income taxes (280) 10,812 (4,371) 21,747
(Gain) loss on disposal of property, plant and equipment 3,456 588 6,097 (795)
Changes in certain assets and liabilities:        
Accounts receivable (99,696) (19,826) (188,646) (130,764)
Inventories 11,230 1,660 (6,124) 34,008
Other assets 345 6,783 7,704 10,141
Accounts payable 13,385 (46,370) 18,426 (7,382)
Income taxes receivable/payable (4,964) (23,304) 14,429 (26,326)
Accrued expenses and liabilities 23,056 19,621 (25,264) (24,021)
Net cash provided by (used in) operating activities 76,014 32,715 48,767 62,425
Investing activities:        
Purchases of property, plant and equipment (33,534) (49,236) (58,375) (94,582)
Proceeds from maturities of short-term commercial paper       31,520
Other investing activities 2,314 863 31,198 3,277
Net cash provided by used in investing activities (31,220) (48,373) (27,177) (59,785)
Financing activities:        
Issuance of current and long-term debt 63,945 32 107,398 409,293
Repayment of current and long-term debt (76,412) (202,312) (132,658) (508,003)
Debt issuance costs   (195)   (6,192)
Proceeds from exercise of stock options, including related tax effect 8,516 2,977 11,421 10,591
Contributions from noncontrolling investors, net (606) 5,286 4,764 5,697
Dividends paid (25,666) (24,238) (50,181) (46,190)
Net cash used in financing activities (30,223) (218,450) (59,256) (134,804)
Increase (decrease) in cash and equivalents 14,571 (234,108) (37,666) (132,164)
Cash and equivalents at beginning of period 342,919 477,861 395,156 375,917
Cash and equivalents at end of period 357,490 243,753 357,490 243,753
Supplemental disclosure information:        
Cash paid for interest 20,838 17,583 60,501 67,315
Cash paid for federal and state income taxes, net $ 43,008 $ 27,360 $ 45,151 $ 38,525