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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
3 Months Ended9 Months Ended
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Cash Flows From Operating Activities:   
Net income$ 30,650[1]$ 162,104$ 180,375[1]
Less: Income (loss) from discontinued operations, net of tax(40,030)6,459(34,308)
Income from continuing operations70,680155,645214,683
Non-cash items included in net income:   
Depreciation and amortization19,60159,90057,424
Equity in (income) loss of unconsolidated affiliates1,361(59)5,507
Loss on asset impairments24,444 24,444
Gain on asset disposals(108)(8,107)(2,414)
Benefit from deferred taxes (2,910)(4,272)
Pension costs 15,36716,282
Other non-cash items 14,24921,921
Changes in assets and liabilities:   
Accounts receivable 26,23864,415
Net contracts in progress and advance billings on contracts (380,635)29,306
Accounts payable 44,667(88,778)
Accrued and other current liabilities 71,14810,055
Pension liability and accrued postretirement and employee benefits (51,041)(138,783)
Other (15,327)(71,992)
Net Cash Provided By (Used In) Operating Activities-Continuing Operations (70,865)137,798
Cash Flows From Investing Activities:   
Purchases of property, plant and equipment(38,939)[2](231,872)[2](136,555)[2]
(Increase) decrease in restricted cash and cash equivalents 183,564(83,498)
Purchases of available-for-sale securities (516,628)(844,103)
Sales and maturities of available-for-sale securities 601,128706,234
Proceeds from asset disposals 8,4834,563
Other investing activities, net (16)(15,647)
Net Cash Provided By (Used In) Investing Activities-Continuing Operations 44,659(369,006)
Cash Flows From Financing Activities:   
Payment of debt (6,473)(6,398)
Debt issuance costs (4,824)(13,247)
Increase in debt 40,212 
Dividend received from B&W  100,000
Other financing activities, net (2,059)2,177
Net Cash Provided By Financing Activities-Continuing Operations 26,85682,532
Effects of exchange rate changes on cash and cash equivalents (524)(183)
Net increase (decrease) in cash and cash equivalents 126(148,859)
Cash and cash equivalents at beginning of period 403,463428,298
Cash and cash equivalents at end of period-Continuing Operations279,439403,589279,439
Cash paid during the period for:   
Income taxes (net of refunds) 45,93249,661
Cash Flows From Discontinued Operations:   
Net Cash Provided By (Used In) Operating Activities 1,802(43,666)
Net Cash Used In Investing Activities  (77,386)
Net Cash Used In Financing Activities  (343,551)
Effects of exchange rate changes on cash 211485
Net increase (decrease) in cash and cash equivalents 2,013(464,118)
Cash and cash equivalents at beginning of period 1,426470,972
Cash and cash equivalents at end of period-Discontinued Operations$ 6,854$ 3,439$ 6,854
[1]Amortization of benefit plan costs for the three-month and nine-month periods ended September 30, 2010 is shown net of tax of $2.4 million and $18.6 million, respectively. The tax impact on other amounts presented is not significant.
[2]Total capital expenditures exclude $9.5 million and $4.9 million in accrued capital expenditures for the nine months ended September 30, 2011 and 2010, respectively.