XML 104 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:    
Net income $ 199,098us-gaap_ProfitLoss $ 118,081us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 74,547us-gaap_DepreciationDepletionAndAmortization 64,239us-gaap_DepreciationDepletionAndAmortization
Deferred income taxes 25,955us-gaap_DeferredIncomeTaxExpenseBenefit 12,916us-gaap_DeferredIncomeTaxExpenseBenefit
(Gain) loss on disposition of assets (971)us-gaap_GainLossOnDispositionOfAssets 735us-gaap_GainLossOnDispositionOfAssets
Share-based compensation 18,770us-gaap_ShareBasedCompensation 15,269us-gaap_ShareBasedCompensation
Excess tax benefit from share-based compensation (3,401)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (1,404)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Non-cash interest expense 1,090har_NoncashInterestExpense 1,090har_NoncashInterestExpense
Non-cash increase in contingent consideration 1,016har_NoncashIncreaseInContingentConsideration 0har_NoncashIncreaseInContingentConsideration
(Increase) decrease in:    
Receivables, net (67,244)us-gaap_IncreaseDecreaseInReceivables (17,900)us-gaap_IncreaseDecreaseInReceivables
Inventories (105,739)us-gaap_IncreaseDecreaseInInventories (92,374)us-gaap_IncreaseDecreaseInInventories
Other current assets (9,938)us-gaap_IncreaseDecreaseInOtherOperatingAssets 148us-gaap_IncreaseDecreaseInOtherOperatingAssets
Pre-production and development costs (6,684)har_IncreaseDecreaseInPreproductionAndDevelopmentCosts (6,997)har_IncreaseDecreaseInPreproductionAndDevelopmentCosts
Increase (decrease) in:    
Accounts payable 133,728us-gaap_IncreaseDecreaseInAccountsPayable 105,112us-gaap_IncreaseDecreaseInAccountsPayable
Accrued warranties 23,405har_IncreaseDecreaseInAccruedWarranties 11,769har_IncreaseDecreaseInAccruedWarranties
Accrued other liabilities (10,870)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities 7,952us-gaap_IncreaseDecreaseInOtherAccruedLiabilities
Income taxes payable (2,101)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 8,039us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Net change in derivative assets and liabilities (35,213)us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities 11,524us-gaap_IncreaseDecreaseInDerivativeAssetsAndLiabilities
Other operating activities (11,467)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (4,285)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by operating activities 223,981us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 233,914us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Maturities of short-term investments 0us-gaap_PaymentsForProceedsFromShortTermInvestments 10,008us-gaap_PaymentsForProceedsFromShortTermInvestments
Acquisitions, net of cash received (4,220)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (21,274)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Proceeds from asset dispositions 4,548us-gaap_ProceedsFromSaleOfProductiveAssets 0us-gaap_ProceedsFromSaleOfProductiveAssets
Capital expenditures (62,759)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (60,829)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Other items, net 286us-gaap_PaymentsForProceedsFromOtherInvestingActivities 254us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used in investing activities (62,145)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (71,841)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
(Decrease) increase in short-term borrowings (1,682)us-gaap_RepaymentsOfShortTermDebt 17,250us-gaap_RepaymentsOfShortTermDebt
Repayments of long-term debt (16,875)us-gaap_RepaymentsOfLongTermDebt (15,000)us-gaap_RepaymentsOfLongTermDebt
Repayments under revolving credit facility (125,000)us-gaap_RepaymentsOfLongTermLinesOfCredit 0us-gaap_RepaymentsOfLongTermLinesOfCredit
Cash dividends to shareholders (45,927)us-gaap_PaymentsOfDividends (41,212)us-gaap_PaymentsOfDividends
Repurchase of common stock 0us-gaap_PaymentsForRepurchaseOfCommonStock (84,448)us-gaap_PaymentsForRepurchaseOfCommonStock
Exercise of stock options 10,406us-gaap_ProceedsFromStockOptionsExercised 25,875us-gaap_ProceedsFromStockOptionsExercised
Repurchases related to share-based compensation arrangements (21,924)us-gaap_PaymentsForRepurchaseOfOtherEquity (12,311)us-gaap_PaymentsForRepurchaseOfOtherEquity
Excess tax benefit from share-based compensation 3,401us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 1,404us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Payment of contingent consideration (327)har_PaymentOfContingentConsideration 0har_PaymentOfContingentConsideration
Other items, net 859us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 918us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash used in financing activities (197,069)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (107,524)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash (35,817)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 9,749us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net (decrease) increase in cash and cash equivalents (71,050)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 64,298us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 581,312us-gaap_CashAndCashEquivalentsAtCarryingValue 454,258us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 510,262us-gaap_CashAndCashEquivalentsAtCarryingValue 518,556us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:    
Interest paid, net 4,313us-gaap_InterestPaidNet 3,127us-gaap_InterestPaidNet
Income taxes paid 8,284us-gaap_IncomeTaxesPaid 4,325us-gaap_IncomeTaxesPaid
Non-cash investing activities:    
Accrued and contingent acquisition-related liabilities $ 8,603har_AccruedAndContingentAcquisitionRelatedLiabilities $ 6,476har_AccruedAndContingentAcquisitionRelatedLiabilities