XML 48 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income (loss) $ 15,829us-gaap_ProfitLoss $ 11,613us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 36,654us-gaap_Depreciation 41,834us-gaap_Depreciation
Amortization 3,237us-gaap_AdjustmentForAmortization 3,001us-gaap_AdjustmentForAmortization
Change in fair value to the unit adjustment liability 2,245hsc_Changeinfairvaluetounitadjustmentliability 2,546hsc_Changeinfairvaluetounitadjustmentliability
Deferred income tax expense 2,526us-gaap_DeferredIncomeTaxExpenseBenefit 2,352us-gaap_DeferredIncomeTaxExpenseBenefit
Equity in (income) loss of unconsolidated entities, net (4,083)us-gaap_IncomeLossFromEquityMethodInvestments 1,230us-gaap_IncomeLossFromEquityMethodInvestments
Loss on disposal of Harsco Infrastructure Segment 0us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf 242us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf
Other, net (9,612)us-gaap_OtherNoncashIncomeExpense (750)us-gaap_OtherNoncashIncomeExpense
Changes in assets and liabilities:    
Accounts receivable (20,151)us-gaap_IncreaseDecreaseInReceivables (49,455)us-gaap_IncreaseDecreaseInReceivables
Inventories (19,496)us-gaap_IncreaseDecreaseInInventories (4,273)us-gaap_IncreaseDecreaseInInventories
Accounts payable 5,775us-gaap_IncreaseDecreaseInAccountsPayable (6,246)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued interest payable 6,828us-gaap_IncreaseDecreaseInInterestPayableNet 8,207us-gaap_IncreaseDecreaseInInterestPayableNet
Accrued compensation (9,019)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (3,586)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Advances on contracts 8,693us-gaap_IncreaseDecreaseInDeposits 34,006us-gaap_IncreaseDecreaseInDeposits
Harsco 2011/2012 Restructuring Program accrual (188)us-gaap_IncreaseDecreaseInRestructuringReserve (528)us-gaap_IncreaseDecreaseInRestructuringReserve
Other assets and liabilities (8,765)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (12,709)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by operating activities 10,473us-gaap_NetCashProvidedByUsedInOperatingActivities 27,484us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Purchases of property, plant and equipment (31,630)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (39,839)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from the Infrastructure Transaction 0us-gaap_ProceedsFromDivestitureOfBusinesses 3,296us-gaap_ProceedsFromDivestitureOfBusinesses
Proceeds from sales of assets 6,781hsc_ProceedsFromSaleOfAssetsAndDivestitureOfBusinesses 3,806hsc_ProceedsFromSaleOfAssetsAndDivestitureOfBusinesses
Purchases of businesses, net of cash acquired (6,828)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (26,046)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Payment of unit adjustment liability (5,580)hsc_PaymentOfUnitAdjustmentLiability (5,580)hsc_PaymentOfUnitAdjustmentLiability
Other investing activities, net 2,360us-gaap_PaymentsForProceedsFromOtherInvestingActivities (1,178)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used by investing activities (34,897)us-gaap_NetCashProvidedByUsedInInvestingActivities (65,541)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Short-term borrowings, net 4,898us-gaap_ProceedsFromRepaymentsOfShortTermDebt (1,721)us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Current maturities and long-term debt:    
Additions 52,039us-gaap_ProceedsFromIssuanceOfLongTermDebt 65,000us-gaap_ProceedsFromIssuanceOfLongTermDebt
Reductions (5,147)us-gaap_RepaymentsOfLongTermDebt (18,424)us-gaap_RepaymentsOfLongTermDebt
Cash dividends paid on common stock (16,443)us-gaap_PaymentsOfDividendsCommonStock (16,562)us-gaap_PaymentsOfDividendsCommonStock
Common stock acquired for treasury (12,143)us-gaap_PaymentsForRepurchaseOfCommonStock 0us-gaap_PaymentsForRepurchaseOfCommonStock
Other financing activities, net (2,049)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 0us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash provided by financing activities 21,155us-gaap_NetCashProvidedByUsedInFinancingActivities 28,293us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash 6,975us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (479)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and cash equivalents 3,706us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (10,243)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 62,843us-gaap_CashAndCashEquivalentsAtCarryingValue 93,605us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 66,549us-gaap_CashAndCashEquivalentsAtCarryingValue $ 83,362us-gaap_CashAndCashEquivalentsAtCarryingValue