XML 63 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Operating activities:      
Net income attributable to common shareholders $ 192,672us-gaap_NetIncomeLoss $ 219,502us-gaap_NetIncomeLoss $ 216,993us-gaap_NetIncomeLoss
Noncontrolling interest in subsidiaries' earnings 897us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 1,449us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 828us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income before allocation to noncontrolling interests 193,569us-gaap_ProfitLoss 220,951us-gaap_ProfitLoss 217,821us-gaap_ProfitLoss
Asbestos Provision 0cr_AsbestosProvisionNet 0cr_AsbestosProvisionNet 0cr_AsbestosProvisionNet
Environmental provision 55,800us-gaap_EnvironmentalRemediationExpense 0us-gaap_EnvironmentalRemediationExpense 0us-gaap_EnvironmentalRemediationExpense
Gain on divestiture (4,111)cr_GainRelatedToDivestituresOfDiscontinuedOperations (2,727)cr_GainRelatedToDivestituresOfDiscontinuedOperations (29,445)cr_GainRelatedToDivestituresOfDiscontinuedOperations
Restructuring - Non Cash 954us-gaap_RestructuringCosts 0us-gaap_RestructuringCosts 3,855us-gaap_RestructuringCosts
Depreciation and amortization 75,766us-gaap_DepreciationDepletionAndAmortization 54,837us-gaap_DepreciationDepletionAndAmortization 57,263us-gaap_DepreciationDepletionAndAmortization
Stock-based compensation expense 20,858us-gaap_ShareBasedCompensation 22,791us-gaap_ShareBasedCompensation 17,319us-gaap_ShareBasedCompensation
Defined benefit plans and postretirement (credit) expense (11,491)us-gaap_PensionAndOtherPostretirementBenefitExpense 4,779us-gaap_PensionAndOtherPostretirementBenefitExpense 20,090us-gaap_PensionAndOtherPostretirementBenefitExpense
Deferred income taxes 37,906us-gaap_DeferredIncomeTaxExpenseBenefit 48,964us-gaap_DeferredIncomeTaxExpenseBenefit 55,000us-gaap_DeferredIncomeTaxExpenseBenefit
Cash provided by (used for) operating working capital 22,462us-gaap_IncreaseDecreaseInOperatingCapital (26,672)us-gaap_IncreaseDecreaseInOperatingCapital 1,824us-gaap_IncreaseDecreaseInOperatingCapital
Defined benefit plans and postretirement contributions (25,511)us-gaap_PensionAndOtherPostretirementBenefitContributions (15,929)us-gaap_PensionAndOtherPostretirementBenefitContributions (5,504)us-gaap_PensionAndOtherPostretirementBenefitContributions
Payments for Environmental Liabilities (10,405)us-gaap_PaymentsForEnvironmentalLiabilities (15,403)us-gaap_PaymentsForEnvironmentalLiabilities (13,371)us-gaap_PaymentsForEnvironmentalLiabilities
Payments for asbestos-related fees and costs, net of insurance recoveries (61,297)cr_PaymentsOrReceiptsForAsbestosRelatedFeesAndCostsNetOfInsuranceRecoveries (62,827)cr_PaymentsOrReceiptsForAsbestosRelatedFeesAndCostsNetOfInsuranceRecoveries (77,957)cr_PaymentsOrReceiptsForAsbestosRelatedFeesAndCostsNetOfInsuranceRecoveries
Other 30,549us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities (10,668)us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities 12,139us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
Total provided by operating activities 263,951us-gaap_NetCashProvidedByUsedInOperatingActivities 239,432us-gaap_NetCashProvidedByUsedInOperatingActivities 234,756us-gaap_NetCashProvidedByUsedInOperatingActivities
Investing activities:      
Capital expenditures (43,732)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (29,461)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (29,308)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from disposition of capital assets 9,694us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 455us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 6,438us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds from (payments for) acquisitions 2,081us-gaap_ProceedsFromDivestitureOfBusinesses 6,836us-gaap_ProceedsFromDivestitureOfBusinesses 54,079us-gaap_ProceedsFromDivestitureOfBusinesses
Payments to Acquire Businesses, Net of Cash Acquired 6,100us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (801,781)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Total (used for) provided by investing activities (25,857)us-gaap_NetCashProvidedByUsedInInvestingActivities (823,951)us-gaap_NetCashProvidedByUsedInInvestingActivities 31,209us-gaap_NetCashProvidedByUsedInInvestingActivities
Equity:      
Dividends paid (73,884)us-gaap_PaymentsOfDividends (67,272)us-gaap_PaymentsOfDividends (61,974)us-gaap_PaymentsOfDividends
Reacquisition of shares on open market (50,000)us-gaap_PaymentsForRepurchaseOfCommonStock 0us-gaap_PaymentsForRepurchaseOfCommonStock (49,991)us-gaap_PaymentsForRepurchaseOfCommonStock
Stock options exercised - net of shares reacquired 8,186us-gaap_ProceedsFromStockOptionsExercised 24,922us-gaap_ProceedsFromStockOptionsExercised 13,056us-gaap_ProceedsFromStockOptionsExercised
Excess tax benefit from stock-based compensation 7,701us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 6,353us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 3,603us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Proceeds from Lines of Credit 0us-gaap_ProceedsFromLinesOfCredit 125,000us-gaap_ProceedsFromLinesOfCredit 0us-gaap_ProceedsFromLinesOfCredit
Debt:      
Proceeds received from issuance of long-term notes (25,000)us-gaap_ProceedsFromRepaymentsOfShortTermDebt (321)us-gaap_ProceedsFromRepaymentsOfShortTermDebt 0us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Proceeds from Issuance of Long-term Debt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 550,000us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Payments of Debt Issuance Costs 0us-gaap_PaymentsOfDebtIssuanceCosts (6,006)us-gaap_PaymentsOfDebtIssuanceCosts 0us-gaap_PaymentsOfDebtIssuanceCosts
Repayments of Long-term Debt 0us-gaap_RepaymentsOfLongTermDebt (200,000)us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt
Total provided by (used for) financing activities (132,997)us-gaap_NetCashProvidedByUsedInFinancingActivities 432,676us-gaap_NetCashProvidedByUsedInFinancingActivities (95,306)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rates on cash and cash equivalents (29,474)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (1,461)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 8,199us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Increase (decrease) in cash and cash equivalents 75,623us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (153,304)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 178,858us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 270,643us-gaap_CashAndCashEquivalentsAtCarryingValue 423,947us-gaap_CashAndCashEquivalentsAtCarryingValue  
Cash and cash equivalents at end of period 346,266us-gaap_CashAndCashEquivalentsAtCarryingValue 270,643us-gaap_CashAndCashEquivalentsAtCarryingValue 423,947us-gaap_CashAndCashEquivalentsAtCarryingValue
Detail of cash used for working capital:      
Accounts receivable 25,161us-gaap_IncreaseDecreaseInAccountsReceivable (42,857)us-gaap_IncreaseDecreaseInAccountsReceivable (2,578)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (17,342)us-gaap_IncreaseDecreaseInInventories 28,116us-gaap_IncreaseDecreaseInInventories 8,551us-gaap_IncreaseDecreaseInInventories
Other current assets 1,822us-gaap_IncreaseDecreaseInOtherOperatingAssets 2,977us-gaap_IncreaseDecreaseInOtherOperatingAssets (1,656)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable 7,685us-gaap_IncreaseDecreaseInAccountsPayable 17,962us-gaap_IncreaseDecreaseInAccountsPayable (11,724)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued liabilities 2,748us-gaap_IncreaseDecreaseInAccruedLiabilities (28,924)us-gaap_IncreaseDecreaseInAccruedLiabilities (5,830)us-gaap_IncreaseDecreaseInAccruedLiabilities
U.S. and foreign taxes on income 2,388us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (3,946)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 15,061us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Total 22,462us-gaap_IncreaseDecreaseInOperatingCapital (26,672)us-gaap_IncreaseDecreaseInOperatingCapital 1,824us-gaap_IncreaseDecreaseInOperatingCapital
Supplemental disclosure of cash flow information:      
Interest paid 39,375us-gaap_InterestPaid 28,164us-gaap_InterestPaid 26,690us-gaap_InterestPaid
Income taxes paid $ 39,591us-gaap_IncomeTaxesPaidNet $ 53,695us-gaap_IncomeTaxesPaidNet $ 26,270us-gaap_IncomeTaxesPaidNet