XML 35 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 24,318 $ 65,424
Less: Income from discontinued operations, net of tax   3,497
Income from continuing operations 24,318 61,927
Non-cash items included in net income:    
Depreciation and amortization 20,222 23,276
Equity in loss of unconsolidated affiliates 4,131 3,683
Gain on asset disposals (14,716) (226)
Benefit for deferred taxes 5,332 (4,131)
Other non-cash items 2,391 3,803
Changes in assets and liabilities, net of effects from acquisitions and dispositions:    
Accounts receivable (6,573) 50,017
Net contracts in progress and advance billings on contracts (19,935) 65,363
Accounts payable (125,234) (55,292)
Accrued and other current liabilities (20,774) (10,040)
Pension liability and accrued postretirement and employee benefits (19,657) 7,489
Other assets and liabilities (42,170) 19,880
TOTAL CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES-CONTINUING OPERATIONS (187,115) 172,861
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (37,649) (44,751)
Increase in restricted cash and cash equivalents (3,826) (2,870)
Purchases of available-for-sale securities (3,744) (40,319)
Sales and maturities of available-for-sale securities 31,193 94,380
Proceeds from the sale and disposal of assets 35,621 226
Other investing activities (4,596) (2,376)
NET CASH PROVIDED BY INVESTING ACTIVITIES-CONTINUING OPERATIONS 16,999 4,290
NET CASH PROVIDED BY INVESTING ACTIVITIES-DISCONTINUED OPERATIONS   60,671
TOTAL CASH PROVIDED BY INVESTING ACTIVITIES 16,999 64,961
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of debt (1,494) (1,494)
Distributions to noncontrolling interests (6,200) (15,733)
Other financing activities (1,015) (1,784)
TOTAL CASH USED IN FINANCING ACTIVITIES-CONTINUING OPERATIONS (8,709) (19,011)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH 213 (700)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (178,612) 218,111
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 640,147 570,854
CASH AND CASH EQUIVALENTS AT END OF PERIOD-CONTINUING OPERATIONS 461,535 788,965
Cash paid during the period for:    
Income taxes (net of refunds) 25,916 16,036
Drydock
   
Non-cash items included in net income:    
Depreciation and amortization $ 5,550 $ 7,112