XML 39 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statements of Cash Flow (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities of continuing operations    
Net income / (loss) $ 4,135 $ (101,360)
Adjustments to reconcile net income / (loss) to net cash provided by operating activities:    
Net loss from discontinued operations 0 42,795
Depreciation and amortization 10,765 8,389
Deferred income taxes (4,216) (20,305)
Unrealized foreign exchange (gains) / losses (50,732) 82,679
Cost of debt extinguishment 0 14,114
Stock options fair value expense 1,336 1,672
Dividends received 0 11,399
Equity (income)/loss in affiliates 8,814 (444)
Gain on fair value remeasurement of previously held equity interest (6,397) 0
Other non cash items 2,803 11,919
Changes in operating assets and liabilities:    
Accounts receivable 263,804 149,610
Inventories (2,353) 3,890
Prepaid expenses and other current assets (12,327) (4,750)
Trade accounts payable (83,383) (42,918)
Other accrued liabilities and payables (89,111) (114,152)
Net cash provided by operating activities from continuing operations 43,138 42,538
Cash flows from investing activities of continuing operations    
Purchase of fixed assets (3,181) (1,306)
Purchase of intangibles (693) 0
Changes in restricted cash 0 481,419
Purchase of trademarks (17,473) (6,000)
Acquisitions of subsidiaries, net of cash acquired (24,124) (135,964)
Net cash provided by / (used in) investing activities from continuing operations (45,471) 338,149
Cash flows from financing activities of continuing operations    
Borrowings on bank loans, overdraft facility and other borrowings 30,983 18,568
Payment of bank loans, overdraft facility and other borrowings (34,401) (21,664)
Payment of Senior Secured Notes 0 (367,954)
Repayment of obligation to former shareholders 0 7,500
Decrease in short term capital leases payable (277) 0
Increase in short term capital leases payable 0 244
Options exercised 72 1,976
Net cash used in financing activities from continuing operations (3,623) (361,330)
Cash flows from discontinued operations    
Net cash used in operating activities of discontinued operations 0 1,625
Net cash provided by investing activities of discontinued operations 0 (330)
Net cash provided by financing activities of discontinued operations 0 (1,841)
Net cash used in discontinued operations 0 (546)
Adjustment to reconcile the change in cash balances of discontinued operations 0 546
Currency effect on brought forward cash balances 10,166 (20,236)
Net increase in cash 4,210 (879)
Cash and cash equivalents at beginning of period 122,324 126,439
Cash and cash equivalents at end of period 126,534 125,560
Supplemental Schedule of Non-cash Investing Activities    
Common stock issued in connection with investment in subsidiaries 23,175 41,344
Supplemental disclosures of cash flow information    
Interest paid 44,251 75,051
Income tax paid $ 8,950 $ 18,053