XML 68 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 104.3us-gaap_NetIncomeLoss $ 365.6us-gaap_NetIncomeLoss $ 233.7us-gaap_NetIncomeLoss
Adjustments to reconcile net earnings to net cash flows provided by operating activities, net of effects from acquisitions:      
Depreciation and amortization 142.3us-gaap_DepreciationAndAmortization 89.6us-gaap_DepreciationAndAmortization 75.0us-gaap_DepreciationAndAmortization
Deferred income taxes 36.3us-gaap_DeferredIncomeTaxExpenseBenefit 32.9us-gaap_DeferredIncomeTaxExpenseBenefit 37.3us-gaap_DeferredIncomeTaxExpenseBenefit
Non-cash compensation 29.7us-gaap_ShareBasedCompensation 24.2us-gaap_ShareBasedCompensation 24.5us-gaap_ShareBasedCompensation
Tax benefits realized from prior exercises of employee stock options and restricted stock (3.5)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (9.2)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (7.0)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Provision for doubtful accounts 9.6us-gaap_ProvisionForDoubtfulAccounts 1.3us-gaap_ProvisionForDoubtfulAccounts 4.8us-gaap_ProvisionForDoubtfulAccounts
Loss on disposal of property and equipment 3.8us-gaap_GainLossOnSaleOfPropertyPlantEquipment 2.4us-gaap_GainLossOnSaleOfPropertyPlantEquipment 2.4us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Debt prepayment costs 243.6us-gaap_GainsLossesOnExtinguishmentOfDebt   82.1us-gaap_GainsLossesOnExtinguishmentOfDebt
Changes in operating assets and liabilities:      
Accounts receivable (77.0)us-gaap_IncreaseDecreaseInAccountsReceivable (67.2)us-gaap_IncreaseDecreaseInAccountsReceivable (32.0)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (284.0)us-gaap_IncreaseDecreaseInInventories (181.8)us-gaap_IncreaseDecreaseInInventories (169.7)us-gaap_IncreaseDecreaseInInventories
Other current and non-current assets (220.2)us-gaap_IncreaseDecreaseInOtherOperatingAssets (8.3)us-gaap_IncreaseDecreaseInOtherOperatingAssets (18.2)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable and accrued liabilities 266.0us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 129.6us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 122.2us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net cash flow provided by continuing operating activities 250.9us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 379.1us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 355.1us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (255.6)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (154.9)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (125.4)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Acquisitions, net of cash acquired (1,043.1)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (118.1)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (649.7)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Proceeds from sale of businesses and other 0.8beav_ProceedsFromDivestitureOfBusinessesAndOther 0.1beav_ProceedsFromDivestitureOfBusinessesAndOther 2.6beav_ProceedsFromDivestitureOfBusinessesAndOther
Net cash flow used in continuing investing activities (1,297.9)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (272.9)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (772.5)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from common stock issued 7.5us-gaap_ProceedsFromIssuanceOfCommonStock 6.4us-gaap_ProceedsFromIssuanceOfCommonStock 5.8us-gaap_ProceedsFromIssuanceOfCommonStock
Purchase of treasury stock (7.0)us-gaap_PaymentsForRepurchaseOfCommonStock (3.3)us-gaap_PaymentsForRepurchaseOfCommonStock (2.6)us-gaap_PaymentsForRepurchaseOfCommonStock
Proceeds from long-term debt 2,189.0us-gaap_ProceedsFromIssuanceOfLongTermDebt   1,316.0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Proceeds from KLX long-term debt 1,200.0us-gaap_ProceedsFromIssuanceOfOtherLongTermDebt    
Principal payments on long-term debt (1,950.0)us-gaap_RepaymentsOfLongTermDebt (0.3)us-gaap_RepaymentsOfLongTermDebt (600.5)us-gaap_RepaymentsOfLongTermDebt
Borrowings on line of credit 868.0us-gaap_ProceedsFromLinesOfCredit   215.0us-gaap_ProceedsFromLinesOfCredit
Repayments on line of credit (868.0)us-gaap_RepaymentsOfLinesOfCredit   (215.0)us-gaap_RepaymentsOfLinesOfCredit
Debt prepayment costs (210.9)us-gaap_PaymentsOfDebtExtinguishmentCosts   (71.7)us-gaap_PaymentsOfDebtExtinguishmentCosts
Debt origination costs (61.3)us-gaap_PaymentsOfDebtIssuanceCosts   (30.3)us-gaap_PaymentsOfDebtIssuanceCosts
Tax benefits realized from prior exercises of employee stock options and restricted stock 3.5us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 9.2us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 7.0us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Cash divested in connecton with spin-off of KLX (460.0)us-gaap_CashDivestedFromDeconsolidation    
Net cash flows provided by continuing financing activities 710.8us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 12.0us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 623.7us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of foreign exchange rate changes on cash and cash equivalents (9.1)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 5.9us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 3.9us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net (decrease) increase in cash and cash equivalents (345.3)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 124.1us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 210.2us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 637.8us-gaap_CashAndCashEquivalentsAtCarryingValue 513.7us-gaap_CashAndCashEquivalentsAtCarryingValue 303.5us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 292.5us-gaap_CashAndCashEquivalentsAtCarryingValue 637.8us-gaap_CashAndCashEquivalentsAtCarryingValue 513.7us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during period for:      
Interest 148.3us-gaap_InterestPaid 118.4us-gaap_InterestPaid 125.2us-gaap_InterestPaid
Income taxes 124.0us-gaap_IncomeTaxesPaid 86.7us-gaap_IncomeTaxesPaid 52.6us-gaap_IncomeTaxesPaid
Supplemental schedule of non-cash activities:      
Accrued property additions $ 9.1us-gaap_CapitalExpendituresIncurredButNotYetPaid $ 8.7us-gaap_CapitalExpendituresIncurredButNotYetPaid $ 10.8us-gaap_CapitalExpendituresIncurredButNotYetPaid