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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows From Operating Activities:    
Net income $ 145,863 $ 149,725
Less: Income from discontinued operations, net of tax 5,272 5,722
Income from continuing operations 140,591 144,003
Non-cash items included in net income:    
Depreciation and amortization 40,099 37,823
Equity in (income) loss of unconsolidated affiliates (1,551) 4,146
Gain on asset disposals and impairments - net (296) (2,306)
Provision (benefit) from deferred taxes (11,648) 29,667
Pension costs 11,588 13,301
Other non-cash items 10,369 26,379
Changes in assets and liabilities:    
Accounts receivable (54,481) 69,764
Net contracts in progress and advance billings on contracts (257,381) 88,602
Accounts payable 27,589 (25,870)
Accrued and other current liabilities 40,505 9,265
Pension liability and accrued postretirement and employee benefits (42,067) (146,916)
Other 24,907 (108,250)
Net Cash Provided By (Used In) Operating Activities-Continuing Operations (71,776) 139,608
Cash Flows From Investing Activities:    
Purchases of property, plant and equipment (141,682) [1] (97,616) [1]
(Increase) decrease in restricted cash and cash equivalents 39,950 (76,504)
Net decrease in available-for-sale securities 47,434 60,671
Other investing activities, net 303 2,985
Net Cash Used In Investing Activities-Continuing Operations (53,995) (110,464)
Cash Flows From Financing Activities:    
Payment of debt (4,288) (4,317)
Debt issuance costs (261) (12,851)
Increase in debt 30,745  
Dividend received from B&W   100,000
Other financing activities, net (2,100) 290
Net Cash Provided By Financing Activities-Continuing Operations 24,096 83,122
Effects of exchange rate changes on cash and cash equivalents 107 20
Net increase (decrease) in cash and cash equivalents (101,568) 112,286
Cash and cash equivalents at beginning of period 403,463 428,298
Cash and cash equivalents at end of period-Continuing Operations 301,895 540,584
Cash paid during the period for:    
Income taxes (net of refunds) 25,534 33,037
Cash Flows From Discontinued Operations:    
Net Cash Provided By (Used In) Operating Activities 604 (68,030)
Net Cash Used In Investing Activities   (62,126)
Net Cash Used In Financing Activities   (102,094)
Effects of exchange rate changes on cash (62) (1,752)
Net increase (decrease) in cash and cash equivalents 542 (234,002)
Cash and cash equivalents at beginning of period 1,426 470,972
Cash and cash equivalents at end of period-Discontinued Operations $ 1,968 $ 236,970
[1] Total capital expenditures excludes $6.9 million and $10.5 million in accrued capital expenditures for the six months ended June 30, 2011 and 2010, respectively.