XML 34 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 285.7 $ 104.3 $ 365.6
Adjustments to reconcile net earnings to net cash flows provided by operating activities, net of effects from acquisitions:      
Depreciation and amortization 85.3 142.3 89.6
Deferred income taxes (4.1) 36.3 32.9
Non-cash compensation 30.2 29.7 24.2
Tax benefits realized from prior exercises of employee stock options and restricted stock (5.0) (3.5) (9.2)
Provision for doubtful accounts 7.2 9.6 1.3
Loss on disposal of property and equipment 9.2 3.8 2.4
Debt prepayment costs 0.9 243.6  
Changes in operating assets and liabilities:      
Accounts receivable (84.7) (77.0) (67.2)
Inventories (184.6) (284.0) (181.8)
Other current and non-current assets 67.7 (220.2) (8.3)
Accounts payable and accrued liabilities 103.0 266.0 129.6
Net cash flow provided by operating activities 310.8 250.9 379.1
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (80.5) (255.6) (154.9)
Acquisitions, net of cash acquired 3.9 (1,043.1) (118.1)
Other (6.4) 0.8 0.1
Net cash flow used in investing activities (83.0) (1,297.9) (272.9)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from common stock issued 5.8 7.5 6.4
Purchase of treasury stock, including share repurhases (155.3) (7.0) (3.3)
Proceeds from long-term debt   2,189.0  
Proceeds from KLX long-term debt   1,200.0  
Principal payments on long-term debt (136.0) (1,950.0) (0.3)
Borrowings on line of credit   868.0  
Repayments on line of credit   (868.0)  
Debt prepayment costs   (210.9)  
Debt origination costs   (61.3)  
Tax benefits realized from prior exercises of employee stock options and restricted stock 5.0 3.5 9.2
Cash divested in connecton with Spin-Off of KLX   (460.0)  
Dividends (79.3)    
Net cash flows (used in) provided by financing activities (359.8) 710.8 12.0
Effect of foreign exchange rate changes on cash and cash equivalents (6.4) (9.1) 5.9
Net (decrease) increase in cash and cash equivalents (138.4) (345.3) 124.1
Cash and cash equivalents, beginning of year 292.5 637.8 513.7
Cash and cash equivalents, end of year 154.1 292.5 637.8
Cash paid (refunded) during period for:      
Interest 77.3 148.3 118.4
Income taxes, net of $32.0 payments in 2015 (11.8) 124.0 86.7
Supplemental schedule of non-cash activities:      
Accrued property additions $ 3.6 $ 9.1 $ 8.7