XML 67 R50.htm IDEA: XBRL DOCUMENT v3.3.1.900
PARENT-ONLY FINANCIAL STATEMENTS (Tables)
12 Months Ended
Dec. 31, 2015
PARENT-ONLY FINANCIAL STATEMENTS  
Schedule of balance sheets

 

Balance Sheets

 

 

 

December 31,

 

 

 

2015

 

2014

 

 

 

(In thousands)

 

Assets:

 

 

 

 

 

Cash and cash equivalents

 

$

103,998 

 

$

533 

 

Investment in subsidiaries

 

7,373,217 

 

6,731,287 

 

Intercompany receivables

 

174,818 

 

378,562 

 

Other assets

 

142,197 

 

148,240 

 

 

 

 

 

 

 

Total assets

 

$

7,794,230 

 

$

7,258,622 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

Current debt

 

$

332,500 

 

$

99,375 

 

Long-term debt

 

4,660,270 

 

4,001,082 

 

Intercompany payables

 

 

 

Other liabilities

 

791,430 

 

761,785 

 

 

 

 

 

 

 

Total liabilities

 

5,784,200 

 

4,862,242 

 

Stockholders’ equity

 

2,010,030 

 

2,396,380 

 

 

 

 

 

 

 

Total liabilities and stockholders’ equity

 

$

7,794,230 

 

$

7,258,622 

 

 

 

 

 

 

 

 

 

 

Schedule of statements of income

 

Statements of Income

 

 

 

Years Ended December 31,

 

 

 

2015

 

2014

 

2013

 

 

 

(In thousands)

 

Interest from loans to subsidiaries

 

$

9,986

 

$

9,988

 

$

10,065

 

Dividends from subsidiaries

 

209,207

 

194,441

 

68,544

 

 

 

 

 

 

 

 

 

Total revenue

 

219,193

 

204,429

 

78,609

 

 

 

 

 

 

 

 

 

Interest expense, net

 

177,177

 

129,831

 

184,727

 

Other expenses, net

 

15,834

 

17,867

 

1,240

 

 

 

 

 

 

 

 

 

Total expenses

 

193,011

 

147,698

 

185,967

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes and equity in undistributed net income of subsidiaries

 

26,182

 

56,731

 

(107,358

)

Benefit for income taxes

 

70,224

 

36,615

 

32,909

 

 

 

 

 

 

 

 

 

Income (loss) before equity in undistributed net income of subsidiaries

 

96,406

 

93,346

 

(74,449

)

Equity in undistributed net income of subsidiaries

 

509,022

 

422,794

 

570,619

 

 

 

 

 

 

 

 

 

Net income

 

$

605,428

 

$

516,140

 

$

496,170

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of statements of cash flows

 

Statements of Cash Flows

 

 

 

Years Ended December 31,

 

 

 

2015

 

2014

 

2013

 

 

 

(In thousands)

 

Net cash provided by (used in) operating activities

 

$

131,706

 

$

(318,116

)

$

144,841

 

Investing activities:

 

 

 

 

 

 

 

Payments for acquired businesses, net of cash acquired

 

 

(1,003,237

)

 

Repayment of loans to subsidiaries

 

 

112,903

 

 

Loans to subsidiaries

 

 

 

(112,903

)

Investment in subsidiaries

 

(205,864

)

(15,000

)

 

Dividends received

 

209,207

 

194,441

 

68,544

 

 

 

 

 

 

 

 

 

Net cash provided by (used in) investing activities

 

3,343

 

(710,893

)

(44,359

)

 

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

 

Borrowings under debt agreements

 

2,971,027

 

3,358,000

 

1,985,000

 

Repayments of borrowings

 

(2,083,375

)

(1,725,563

)

(1,300,241

)

Proceeds from convertible note hedge counterparties

 

 

1,519,833

 

1,056,307

 

Settlement of convertible note borrowings

 

 

(1,864,803

)

(1,861,289

)

Excess tax benefits from stock-based compensation

 

20,134

 

34,159

 

17,267

 

Payment of deferred financing costs

 

(5,823

)

(36,269

)

(12,784

)

Purchase of treasury shares

 

(951,550

)

(286,618

)

(231,085

)

Proceeds from issuance of common stock

 

18,003

 

17,063

 

14,090

 

Other

 

 

(1,476

)

(9

)

 

 

 

 

 

 

 

 

Net cash (used in) provided by financing activities

 

(31,584

)

1,014,326

 

(332,744

)

 

 

 

 

 

 

 

 

Change in cash and cash equivalents

 

103,465

 

(14,683

)

(232,262

)

Cash and cash equivalents at beginning of year

 

533

 

15,216

 

247,478

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at end of year

 

$

103,998

 

$

533

 

$

15,216