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CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$ 135,802$ 194,592
Adjustments to reconcile net income to cash flows from operating activities:  
Depreciation and amortization37,39837,394
Gain on curtailment of defined benefit pension plans0(19,665)
Net asbestos-related provision4,40010,286
Share-based compensation expense15,77915,252
Excess tax benefit related to share-based compensation(6)(2)
Deferred income tax (benefit)/provision(7,322)16,526
(Gain)/loss on sale of assets(934)252
Net dividends/(equity in earnings) from investees16,630(10,998)
Other noncash items034
Changes in assets and liabilities:  
Decrease in receivables108,84912,662
Net change in contracts in process and billings in excess of costs and estimated earnings on uncompleted contracts(6,368)53,994
Decrease in accounts payable and accrued expenses(67,311)(102,335)
Net change in other assets and liabilities(23,601)(40,425)
Net cash provided by operating activities213,316167,567
CASH FLOWS FROM INVESTING ACTIVITIES  
Payments related to acquisition of businesses, net of cash acquired0(1,971)
Change in restricted cash(21,407)847
Capital expenditures(22,885)(14,826)
Proceeds from sale of assets1,773187
Return of investment from unconsolidated affiliates23,232
Purchase of short-term investments(2,861)(240)
Net cash used in investing activities(45,378)(12,771)
CASH FLOWS FROM FINANCING ACTIVITIES  
Repurchase of shares(240,155)(99,182)
Distributions to noncontrolling interests(10,425)(8,031)
Proceeds from capital contribution from noncontrolling interests1250
Proceeds from stock options exercised11,9102,681
Excess tax benefit related to share-based compensation62
Proceeds from issuance of short-term debt02,197
Repayment of debt and capital lease obligations(8,000)(10,222)
Net cash used in financing activities(246,539)(112,555)
Effect of exchange rate changes on cash and cash equivalents(16,823)754
(DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS(95,424)42,995
Cash and cash equivalents at beginning of year1,057,163997,158
CASH AND CASH EQUIVALENTS AT END OF PERIOD$ 961,739$ 1,040,153