XML 105 R34.htm IDEA: XBRL DOCUMENT v2.4.0.6
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2011
Accounting Policies [Abstract]  
Cash and Cash Equivalents
Cash and cash equivalents consist of the following:
 
 
 
As of December 31,
2011
 
2010
Dollars in millions
 
 
 
 
Cash
 
$
417.0

 
$
548.1

Cash Equivalents:
 
 
 
 
Commercial paper
 
10.0

 
—

Time deposits
 
—

 
74.0

Money market funds
 
158.8

 
85.2

 
 
$
585.8

 
$
707.3
Property, Plant and Equipment
Property, Plant and Equipment
We record property, plant and equipment at cost and depreciate it evenly over the assets’ estimated useful lives as follows:
 
 
 
Years
Software
 
3-6
Buildings and improvements
 
4-60
Machinery and equipment
 
1-25
Solar energy systems
 
23-30
Intangible Assets, Estimated Useful Lives
The estimated useful lives of our intangible assets subject to amortization are as follows:
 
 
 
Years
Favorable energy credits
 
4-18

Customer sales backlog and relationships
 
1-6

Trade name
 
15

Developed technology
 
5

Non-compete agreement
 
1
Supplemental Cash Flow Information
Supplemental Cash Flow Information
 
Following is information related to interest and taxes paid as well as certain non-cash investing and financing activities including acquisition related items.

 
 
For the year ended December 31,
2011
 
2010
 
2009
In millions
 
 
 
 
 
 
Supplemental disclosures of cash flow information:
 
 
 
 
 
 
Interest payments (including debt issuance costs), net of amount capitalized
 
$
155.9

 
$
22.2

 
$
1.4

Income taxes paid (refunded), net
 
13.7

 
(9.4
)
 
38.8

Supplemental schedule of non-cash investing and financing activities:
 
 
 
 
 
 
Accounts payable incurred (relieved) for acquisition of fixed assets, including solar energy systems
 
$
(68.0
)
 
$
138.7

 
$
(13.1
)
Debt transferred to and assumed by buyer upon sale of solar energy systems
 
104.6

 
43.3

 
—

Conversion of note payable to equity
 
—

 
27.0

 
—

Acquisitions:
 
 
 
 
 
 
Fair value of assets acquired
 
$
334.5

 
$
65.2

 
$
508.9

Goodwill
 
97.8

 
56.4

 
285.3

Liabilities assumed and noncontrolling interests
 
(158.0
)
 
(19.9
)
 
(479.6
)
Shares of MEMC common stock issued
 
—

 
—

 
(45.8
)
Other non-cash consideration
 
(90.7
)
 
 
 
 
Less: loans prior to acquisition
 
(16.0
)
 
(26.0
)
 
(79.5
)
Less: cash acquired
 
(3.6
)
 
(2.2
)
 
(0.8
)
Cash paid, net of cash acquired
 
$
164.0

 
$
73.5

 
$
188.5