Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2013

Condensed Consolidating Financial Information

Condensed Consolidating Balance Sheets

	September 30, 2013
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-		Consolidating
	Guarantor)		(Issuer)			Guarantors)		Adjustments			Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	1,794	$	7,018		$	387,111	$	—		$	395,923
Short-term investments	—		—			96,015		—			96,015
Assets held for sale	—		—			396,201		—			396,201
Accounts receivable, net	—		—			1,362,434		—			1,362,434
Inventory	—		—			229,494		—			229,494
Deferred income taxes	—		—			239,171		—			239,171
Other current assets	50		22,338			214,829		—			237,217
Total current assets	1,844		29,356			2,925,255		—			2,956,455
Long-term investments	—		—			3,371		—			3,371
Property, plant and equipment, net	—		34,686			8,429,118		—			8,463,804
Goodwill	—		—			479,557		—			479,557
Intercompany receivables	166,731		3,893			1,414,822		(1,585,446		)	—
Investment in unconsolidated affiliates	5,657,795		6,047,144			1,840,765		(13,476,797		)	68,907
Other long-term assets	—		35,508			194,514		—			230,022
Total assets	$	5,826,370	$	6,150,587		$	15,287,402	$	(15,062,243	)	$	12,202,116
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—		$	11,441	$	—		$	11,441
Trade accounts payable	87		27			521,019		—			521,133
Accrued liabilities	115		21,291			558,070		—			579,476
Income taxes payable	—		—			13,372		—			13,372
Total current liabilities	202		21,318			1,103,902		—			1,125,422
Long-term debt	—		4,035,974			53		—			4,036,027
Other long-term liabilities	—		31,049			410,323		—			441,372
Deferred income taxes	—		(172,709		)	865,223		—			692,514
Intercompany payable	—		1,585,446			—		(1,585,446		)	—
Total liabilities	202		5,501,078			2,379,501		(1,585,446		)	6,295,335
Subsidiary preferred stock	—		—			69,188		—			69,188
Shareholders’ equity	5,826,168		649,509			12,827,288		(13,476,797		)	5,826,168
Noncontrolling interest	—		—			11,425		—			11,425
Total equity	5,826,168		649,509			12,838,713		(13,476,797		)	5,837,593
Total liabilities and equity	$	5,826,370	$	6,150,587		$	15,287,402	$	(15,062,243	)	$	12,202,116

	December 31, 2012
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-		Consolidating
	Guarantor)		(Issuer)			Guarantors)		Adjustments			Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	1,639	$	106,778		$	416,505	$	—		$	524,922
Short-term investments	—		—			253,282		—			253,282
Assets held for sale	—		—			383,857		—			383,857
Accounts receivable, net	—		—			1,382,623		—			1,382,623
Inventory	—		—			251,133		—			251,133
Deferred income taxes	—		—			110,480		—			110,480
Other current assets	50		—			226,510		—			226,560
Total current assets	1,689		106,778			3,024,390		—			3,132,857
Long-term investments	—		—			4,269		—			4,269
Property, plant and equipment, net	—		37,300			8,674,788		—			8,712,088
Goodwill	—		—			472,326		—			472,326
Intercompany receivables	174,948		1,690,636			670,404		(2,535,988		)	—
Investment in unconsolidated affiliates	5,769,518		5,129,458			395,246		(11,232,532		)	61,690
Other long-term assets	—		31,904			240,888		—			272,792
Total assets	$	5,946,155	$	6,996,076		$	13,482,311	$	(13,768,520	)	$	12,656,022
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	$	—	$	—		$	364	$	—		$	364
Trade accounts payable	116		23			498,871		—			499,010
Accrued liabilities	1,110		91,520			506,750		—			599,380
Income taxes payable	—		—			33,628		—			33,628
Total current liabilities	1,226		91,543			1,039,613		—			1,132,382
Long-term debt	—		4,379,263			73		—			4,379,336
Other long-term liabilities	—		30,983			487,681		—			518,664
Deferred income taxes	—		(24,906		)	624,241		—			599,335
Intercompany payable	—		2,535,988			—		(2,535,988		)	—
Total liabilities	1,226		7,012,871			2,151,608		(2,535,988		)	6,629,717
Subsidiary preferred stock	—		—			69,188		—			69,188
Shareholders’ equity	5,944,929		(16,795		)	11,249,327		(11,232,532		)	5,944,929
Noncontrolling interest	—		—			12,188		—			12,188
Total equity	5,944,929		(16,795		)	11,261,515		(11,232,532		)	5,957,117
Total liabilities and equity	$	5,946,155	$	6,996,076		$	13,482,311	$	(13,768,520	)	$	12,656,022

Condensed Consolidating Statements of Income (Loss)

	Three Months Ended September 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	1,550,819		$	—		$	1,550,819
Earnings from unconsolidated affiliates	—			—			(2,628		)	—			(2,628		)
Earnings (losses) from consolidated affiliates	(102,137		)	88,554			(82,783		)	96,366			—
Investment income (loss)				3			2,363			(1,137		)	1,229
Intercompany interest income	—			31			—			(31		)	—
Total revenues and other income	(102,137		)	88,588			1,467,771			95,198			1,549,420
Costs and other deductions:
Direct costs	—			—			980,911			—			980,911
General and administrative expenses	3,089			(311		)	125,319			(154		)	127,943
Depreciation and amortization	—			902			272,542			—			273,444
Interest expense	—			59,417			(3,358		)	—			56,059
Intercompany interest expense	—			—			31			(31		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	155			211,989			(209,032		)	154			3,266
Impairments and other charges	—			—			242,241			—			242,241
Total costs and other deductions	3,244			271,997			1,408,654			(31		)	1,683,864
Income from continuing operations before income taxes	(105,381		)	(183,409		)	59,117			95,229			(134,444		)
Income tax expense (benefit)	—			(100,626		)	55,942			—			(44,684		)
Subsidiary preferred stock dividend	—			—			750			—			750
Income (loss) from continuting operations, net of tax	(105,381		)	(82,783		)	2,425			95,229			(90,510		)
Income (loss) from discontinued operations, net of tax	—			—			(14,430		)	—			(14,430		)
Net income (loss)	(105,381		)	(82,783		)	(12,005		)	95,229			(104,940		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			(441		)	—			(441		)
Net income (loss) attributable to Nabors	$	(105,381	)	$	(82,783	)	$	(12,446	)	$	95,229		$	(105,381	)

	Three Months Ended September 30, 2012
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	1,729,907		$	—		$	1,729,907
Earnings from unconsolidated affiliates	—		—			(99,527		)	—			(99,527		)
Earnings (losses) from consolidated affiliates	77,976		(152,036		)	(178,917		)	252,977			—
Investment income (loss)	—		2			7,222			—			7,224
Intercompany interest income	—		17,423			—			(17,423		)	—
Total revenues and other income	77,976		(134,611		)	1,458,685			235,554			1,637,604
Costs and other deductions:
Direct costs	—		—			1,107,032			—			1,107,032
General and administrative expenses	1,900		159			129,042			(420		)	130,681
Depreciation and amortization	—		902			264,735			—			265,637
Interest expense	—		67,391			(3,615		)	—			63,776
Intercompany interest expense	—		—			17,423			(17,423		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	420		(250		)	9,626			420			10,216
Impairments and other charges	—		—			—			—
Total costs and other deductions	2,320		68,202			1,524,243			(17,423		)	1,577,342
Income from continuing operations before income taxes	75,656		(202,813		)	(65,558		)	252,977			60,262
Income tax expense (benefit)	—		(18,787		)	13,810			—			(4,977		)
Subsidiary preferred stock dividend	—		—			750			—			750
Income (loss) from continuting operations, net of tax	75,656		(184,026		)	(80,118		)	252,977			64,489
Income (loss) from discontinued operations, net of tax	—		—			12,155			—			12,155
Net income (loss)	75,656		(184,026		)	(67,963		)	252,977			76,644
Less: Net (income) loss attributable to noncontrolling interest	—		—			(988		)	—			(988		)
Net income (loss) attributable to Nabors	$	75,656	$	(184,026	)	$	(68,951	)	$	252,977		$	75,656

	Nine Months Ended September 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	4,544,263		$	—		$	4,544,263
Earnings from unconsolidated affiliates	—			—			1,627			—			1,627
Earnings (losses) from consolidated affiliates	4,731			144,574			(107,091		)	(42,214		)	—
Investment income (loss)	1			55			98,825			(3,410		)	95,471
Intercompany interest income	—			92			—			(92		)	—
Total revenues and other income	4,732			144,721			4,537,624			(45,716		)	4,641,361
Costs and other deductions:
Direct costs	—			—			2,948,213			—			2,948,213
General and administrative expenses	8,144			116			382,197			(434		)	390,023
Depreciation and amortization	—			2,707			806,312			—			809,019
Interest expense	—			184,871			(8,528		)	—			176,343
Intercompany interest expense	—			—			92			(92		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	7,209			211,921			(192,319		)	434			27,245
Impairments and other charges	—			—			287,241			—			287,241
Total costs and other deductions	15,353			399,615			4,223,208			(92		)	4,638,084
Income from continuing operations before income taxes	(10,621		)	(254,894		)	314,416			(45,624		)	3,277
Income tax expense (benefit)	—			(147,803		)	119,005			—			(28,798		)
Subsidiary preferred stock dividend	—			—			2,250			—			2,250
Income (loss) from continuting operations, net of tax	(10,621		)	(107,091		)	193,161			(45,624		)	29,825
Income (loss) from discontinued operations, net of tax	—			—			(34,292		)	—			(34,292		)
Net income (loss)	(10,621		)	(107,091		)	158,869			(45,624		)	(4,467		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			(6,154		)	—			(6,154		)
Net income (loss) attributable to Nabors	$	(10,621	)	$	(107,091	)	$	152,715		$	(45,624	)	$	(10,621	)

	Nine Months Ended September 30, 2012
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	5,272,499		$	—		$	5,272,499
Earnings from unconsolidated affiliates	—		—			(302,513		)	—			(302,513		)
Earnings (losses) from consolidated affiliates	143,448		(132,659		)	(212,494		)	201,705			—
Investment income (loss)	—		18			32,826			—			32,844
Intercompany interest income	—		51,433			—			(51,433		)	—
Total revenues and other income	143,448		(81,208		)	4,790,318			150,272			5,002,830
Costs and other deductions:
Direct costs	—		—			3,353,520			—			3,353,520
General and administrative expenses	5,449		349			393,778			(1,042		)	398,534
Depreciation and amortization	—		2,707			763,734			—			766,441
Interest expense	—		203,826			(13,758		)	—			190,068
Intercompany interest expense	—		—			51,433			(51,433		)	—
Losses (gains) on sales of long-lived assets and other expense (income), net	1,042		(1,229		)	20,922			1,042			21,777
Impairments and other charges	—		—			147,503						147,503
Total costs and other deductions	6,491		205,653			4,717,132			(51,433		)	4,877,843
Income from continuing operations before income taxes	136,957		(286,861		)	73,186			201,705			124,987
Income tax expense (benefit)	—		(57,055		)	79,176			—			22,121
Subsidiary preferred stock dividend	—		—			2,250			—			2,250
Income (loss) from continuting operations, net of tax	136,957		(229,806		)	(8,240		)	201,705			100,616
Income (loss) from discontinued operations, net of tax	—		—			35,888			—			35,888
Net income (loss)	136,957		(229,806		)	27,648			201,705			136,504
Less: Net (income) loss attributable to noncontrolling interest	—		—			453			—			453
Net income (loss) attributable to Nabors	$	136,957	$	(229,806	)	$	28,101		$	201,705		$	136,957

Condensed Consolidating Statements Of Other Comprehensive Income

	Three Months Ended September 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(105,381	)	$	(82,783	)	$	(12,446	)	$	95,229		$	(105,381	)
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	15,716			331			16,046			(16,377		)	15,716
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	(3,416		)	(135		)	(3,551		)	3,686			(3,416		)
Less: reclassification adjustment for (gains)/losses on marketable securities	(2		)	—			(2		)	2			(2		)
Unrealized gains/(losses) on marketable securities	(3,418		)	(135		)	(3,553		)	3,688			(3,418		)
Pension liability amortization and adjustment	280			280			560			(840		)	280
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	153			153			153			(306		)	153
Other comprehensive income (loss) before taxes	12,731			629			13,206			(13,835		)	12,731
Income tax expense (benefit) related to items of other comprehensive income (loss)	116			116			173			(289		)	116
Other comprehensive income (loss), net of tax	12,615			513			13,033			(13,546		)	12,615
Comprehensive income (loss) attributable to Nabors	(92,766		)	(82,270		)	587			81,683			(92,766		)
Net income (loss) attributable to noncontrolling interest	441			—			441			(441		)	441
Translation adjustment to noncontrolling interest	229			—			229			(229		)	229
Comprehensive income (loss) attributable to noncontrolling interest	670			—			670			(670		)	670
Comprehensive income (loss)	$	(92,096	)	$	(82,270	)	$	1,257		$	81,013		$	(92,096	)

	Three Months Ended September 30, 2012
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	75,656		$	(184,026	)	$	(68,951	)	$	252,977		$	75,656
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	31,550			(99		)	31,451			(31,352		)	31,550
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	13,667			6			13,673			(13,679		)	13,667
Less: reclassification adjustment for (gains)/losses on marketable securities	(1,523		)	(1,200		)	(2,723		)	3,923			(1,523		)
Unrealized gains/(losses) on marketable securities	12,144			(1,194		)	10,950			(9,756		)	12,144
Pension liability amortization and adjustment	260			260			520			(780		)	260
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	166			166			166			(332		)	166
Other comprehensive income (loss) before taxes	44,120			(867		)	43,087			(42,220		)	44,120
Income tax expense (benefit) related to items of other comprehensive income (loss)	(272		)	(272		)	(604		)	876			(272		)
Other comprehensive income (loss), net of tax	44,392			(595		)	43,691			(43,096		)	44,392
Comprehensive income (loss) attributable to Nabors	120,048			(184,621		)	(25,260		)	209,881			120,048
Net income (loss) attributable to noncontrolling interest	988			—			988			(988		)	988
Translation adjustment to noncontrolling interest	390			—			390			(390		)	390
Comprehensive income (loss) attributable to noncontrolling interest	1,378			—			1,378			(1,378		)	1,378
Comprehensive income (loss)	$	121,426		$	(184,621	)	$	(23,882	)	$	208,503		$	121,426

	Nine Months Ended September 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(10,621	)	$	(107,091	)	$	152,715		$	(45,624	)	$	(10,621	)
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	(36,853		)	185			(36,669		)	36,484			(36,853		)
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	1,586			98			1,684			(1,782		)	1,586
Less: reclassification adjustment for (gains)/losses on marketable securities	(88,159		)	(7,114		)	(95,273		)	102,387			(88,159		)
Unrealized gains/(losses) on marketable securities	(86,573		)	(7,016		)	(93,589		)	100,605			(86,573		)
Pension liability amortization and adjustment	842			842			1,684			(2,526		)	842
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	459			459			459			(918		)	459
Other comprehensive income (loss) before taxes	(122,125		)	(5,530		)	(128,115		)	133,645			(122,125		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(2,161		)	(2,161		)	(4,499		)	6,660			(2,161		)
Other comprehensive income (loss), net of tax	(119,964		)	(3,369		)	(123,616		)	126,985			(119,964		)
Comprehensive income (loss) attributable to Nabors	(130,585		)	(110,460		)	29,099			81,361			(130,585		)
Net income (loss) attributable to noncontrolling interest	6,154			—			6,154			(6,154		)	6,154
Translation adjustment to noncontrolling interest	(572		)	—			(572		)	572			(572		)
Comprehensive income (loss) attributable to noncontrolling interest	5,582			—			5,582			(5,582		)	5,582
Comprehensive income (loss)	$	(125,003	)	$	(110,460	)	$	34,681		$	75,779		$	(125,003	)

	Nine Months Ended September 30, 2012
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	136,957		$	(229,806	)	$	28,101		$	201,705		$	136,957
Other comprehensive income (loss) before taxes:
Translation adjustment attributable to Nabors	29,157			(100		)	29,057			(28,957		)	29,157
Unrealized gains/(losses) on marketable securities:
Unrealized gains/(losses) on marketable securities	20,882			17			20,899			(20,916		)	20,882
Less: reclassification adjustment for (gains)/losses on marketable securities	(14,007		)	(11,488		)	(25,495		)	36,983			(14,007		)
Unrealized gains/(losses) on marketable securities	6,875			(11,471		)	(4,596		)	16,067			6,875
Pension liability amortization and adjustment	780			779			1,560			(2,339		)	780
Unrealized gains/(losses) and amortization of (gains)/losses on cash flow hedges	548			548			548			(1,096		)	548
Other comprehensive income (loss) before taxes	37,360			(10,244		)	26,569			(16,325		)	37,360
Income tax expense (benefit) related to items of other comprehensive income (loss)	(3,856		)	(3,856		)	(7,892		)	11,748			(3,856		)
Other comprehensive income (loss), net of tax	41,216			(6,388		)	34,461			(28,073		)	41,216
Comprehensive income (loss) attributable to Nabors	178,173			(236,194		)	62,562			173,632			178,173
Net income (loss) attributable to noncontrolling interest	(453		)	—			(453		)	453			(453		)
Translation adjustment to noncontrolling interest	417			—			417			(417		)	417
Comprehensive income (loss) attributable to noncontrolling interest	(36		)	—			(36		)	36			(36		)
Comprehensive income (loss)	$	178,137		$	(236,194	)	$	62,526		$	173,668		$	178,137

Condensed Consolidating Statements of Cash Flows

	Nine Months Ended September 30, 2013
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	5,671		$	(158,238	)	$	1,098,620		$	28,662		$	974,715
Cash flows from investing activities:
Sales and maturities of investments	—			—			163,944			—			163,944
Cash paid for acquisition of businesses, net	—			—			(37,516		)				(37,516		)
Capital expenditures							(780,711		)				(780,711		)
Proceeds from sale of unconsolidated affiliates	—			—			10,000			—			10,000
Investment in unconsolidated affiliates	—			—			(5,967		)	—			(5,967		)
Proceeds from sales of assets and insurance claims	—			—			139,254			—			139,254
Other	—			—			(7		)	—			(7		)
Cash paid for investments in consolidated affiliates	(100		)	(772,000		)	(1,544,000		)	2,316,100			—
Changes in intercompany balances	—			615,328			(615,328		)	—			—
Net cash provided by (used for) investing activities	(100		)	(156,672		)	(2,670,331		)	2,316,100			(511,003		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(7,497		)	—			(7,497		)
Dividends to shareholders	(38,767		)	—			—			3,410			(35,357		)
Debt issuance costs	—			(3,505		)	—			—			(3,505		)
Proceeds from debt	—			698,517			11,569			—			710,086
Proceeds from (payments for) commercial paper, net	—			332,250			—			—			332,250
Proceeds from (payments for) issuance of common shares	4,375			—			—			—			4,375
Reduction in long-term debt	—			(994,112		)	(69		)	—			(994,181		)
Reduction in revolving credit facility				(590,000		)	—			—			(590,000		)
Purchase of restricted stock	(3,096		)	—			—			—			(3,096		)
Proceeds from (payments for) issuance of parent common shares to affiliates	32,072			—			—			(32,072		)	—
Proceeds from parent contributions	—			772,000			1,544,100			(2,316,100		)	—
Net cash (used for) provided by financing activities	(5,416		)	215,150			1,548,103			(2,344,762		)	(586,925		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(5,786		)	—			(5,786		)
Net increase (decrease) in cash and cash equivalents	155			(99,760		)	(29,394		)	—			(128,999		)
Cash and cash equivalents, beginning of period	1,639			106,778			416,505			—			524,922
Cash and cash equivalents, end of period	$	1,794		$	7,018		$	387,111		$	—		$	395,923

	Nine Months Ended September 30, 2012
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	6,572		$	(37,698	)	$	1,155,677		$	(30,506	)	$	1,094,045
Cash flows from investing activities:
Purchases of investments	—			—			(949		)	—			(949		)
Sales and maturities of investments	—			—			30,111			—			30,111
Capital expenditures	—			—			(1,221,769		)	—			(1,221,769		)
Proceeds from sales of assets and insurance claims	—			—			128,432			—			128,432
Cash paid for investments in consolidated affiliates	—			—			—			—			—
Changes in intercompany balances	—			(51,262		)	51,262			—			—
Net cash provided by (used for) investing activities	—			(51,262		)	(1,012,913		)	—			(1,064,175		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(1,748		)	—			(1,748		)
Proceeds from revolving credit facility	—			710,000			—			—			710,000
Proceeds from (payments for) issuance of common shares	(4,006		)	—			(1		)	—			(4,007		)
Reduction in long-term debt	—			(224,997		)	(51,235		)	—			(276,232		)
Paydown of revolving credit facility	—			(380,000		)	—			—			(380,000		)
Purchase of restricted stock	(2,071		)	—			—			—			(2,071		)
Tax benefit related to share-based awards	—			—			(54		)	—			(54		)
Cash dividends paid	—			(9,003		)	(21,503		)	30,506			—
Net cash (used for) provided by financing activities	(6,077		)	96,000			(74,541		)	30,506			45,888
Effect of exchange rate changes on cash and cash equivalents	—			—			(2,771		)	—			(2,771		)
Net increase (decrease) in cash and cash equivalents	495			7,040			65,452			—			72,987
Cash and cash equivalents, beginning of period	203			21			398,351			—			398,575
Cash and cash equivalents, end of period	$	698		$	7,061		$	463,803		$	—		$	471,562