XML 47 R22.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidating Financial Information
3 Months Ended
Mar. 31, 2015
Condensed Consolidating Financial Information  
Condensed Consolidating Financial Information

Note 15 Condensed Consolidating Financial Information

 

Nabors has fully and unconditionally guaranteed all of the issued public debt securities of Nabors Delaware, a 100% owned subsidiary. The following condensed consolidating financial information is included so that separate financial statements of Nabors Delaware are not required to be filed with the SEC. The condensed consolidating financial statements present investments in both consolidated and unconsolidated affiliates using the equity method of accounting.

 

The following condensed consolidating financial information presents condensed consolidating balance sheets as of March 31, 2015 and December 31, 2014 and statements of income (loss), statements of other comprehensive income (loss) and statements of cash flows for the three months ended March 31, 2015 and 2014 of (a) Nabors, parent/guarantor, (b) Nabors Delaware, issuer of public debt securities guaranteed by Nabors, (c) the non-guarantor subsidiaries, (d) consolidating adjustments necessary to consolidate Nabors and its subsidiaries and (e) Nabors on a consolidated basis.

 

Condensed Consolidating Balance Sheets

 

 

 

March 31, 2015

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

4,370

 

$

18

 

$

581,613

 

$

—

 

$

586,001

 

Short-term investments

 

—

 

—

 

35,170

 

—

 

35,170

 

Assets held for sale

 

—

 

—

 

134,709

 

—

 

134,709

 

Accounts receivable, net

 

—

 

—

 

971,601

 

—

 

971,601

 

Inventory

 

—

 

—

 

190,423

 

—

 

190,423

 

Deferred income taxes

 

—

 

—

 

91,050

 

—

 

91,050

 

Other current assets

 

50

 

18,394

 

142,934

 

—

 

161,378

 

Total current assets

 

4,420

 

18,412

 

2,147,500

 

—

 

2,170,332

 

Long-term investments

 

—

 

—

 

2,627

 

—

 

2,627

 

Property, plant and equipment, net

 

—

 

—

 

7,333,808

 

—

 

7,333,808

 

Goodwill

 

—

 

—

 

80,947

 

—

 

80,947

 

Intercompany receivables

 

136,729

 

150,058

 

1,030,444

 

(1,317,231

)

—

 

Investment in consolidated affiliates

 

4,848,785

 

4,968,528

 

1,370,331

 

(11,187,644

)

—

 

Investment in unconsolidated affiliates

 

—

 

—

 

730,487

 

—

 

730,487

 

Other long-term assets

 

—

 

29,578

 

256,819

 

—

 

286,397

 

Total assets

 

$

4,989,934

 

$

5,166,576

 

$

12,952,963

 

$

(12,504,875

)

$

10,604,598

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

Current debt

 

$

—

 

$

—

 

8,739

 

$

—

 

$

8,739

 

Trade accounts payable

 

117

 

5

 

402,916

 

—

 

403,038

 

Accrued liabilities

 

17,004

 

18,202

 

634,606

 

—

 

669,812

 

Income taxes payable

 

—

 

—

 

75,007

 

—

 

75,007

 

Total current liabilities

 

17,121

 

18,207

 

1,121,268

 

—

 

1,156,596

 

Long-term debt

 

—

 

3,857,176

 

(40,459

)

—

 

3,816,717

 

Other long-term liabilities

 

—

 

35,487

 

569,039

 

—

 

604,526

 

Deferred income taxes

 

—

 

(313,447

)

372,444

 

—

 

58,997

 

Intercompany payable

 

14,000

 

1,303,231

 

—

 

(1,317,231

)

—

 

Total liabilities

 

31,121

 

4,900,654

 

2,022,292

 

(1,317,231

)

5,636,836

 

Subsidiary preferred stock

 

—

 

—

 

—

 

—

 

—

 

Shareholders’ equity

 

4,958,813

 

265,922

 

10,921,722

 

(11,187,644

)

4,958,813

 

Noncontrolling interest

 

—

 

—

 

8,949

 

—

 

8,949

 

Total equity

 

4,958,813

 

265,922

 

10,930,671

 

(11,187,644

)

4,967,762

 

Total liabilities and equity

 

$

4,989,934

 

$

5,166,576

 

$

12,952,963

 

$

(12,504,875

)

$

10,604,598

 

 

Condensed Consolidating Balance Sheets

 

 

 

December 31, 2014

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

1,170

 

$

7

 

$

499,972

 

$

—

 

$

501,149

 

Short-term investments

 

—

 

—

 

35,020

 

—

 

35,020

 

Assets held for sale

 

—

 

—

 

146,467

 

—

 

146,467

 

Accounts receivable, net

 

—

 

—

 

1,517,503

 

—

 

1,517,503

 

Inventory

 

—

 

—

 

230,067

 

—

 

230,067

 

Deferred income taxes

 

—

 

—

 

118,230

 

—

 

118,230

 

Other current assets

 

50

 

5,242

 

188,146

 

—

 

193,438

 

Short-term intercompany note

 

—

 

880,820

 

—

 

(880,820

)

—

 

Total current assets

 

1,220

 

886,069

 

2,735,405

 

(880,820

)

2,741,874

 

Long-term investments

 

—

 

—

 

2,806

 

—

 

2,806

 

Property, plant and equipment, net

 

—

 

30,330

 

8,568,795

 

—

 

8,599,125

 

Goodwill

 

—

 

—

 

173,928

 

—

 

173,928

 

Intercompany receivables

 

136,360

 

—

 

1,286,522

 

(1,422,882

)

—

 

Investment in unconsolidated affiliates

 

4,771,413

 

5,014,743

 

1,506,939

 

(11,234,844

)

58,251

 

Other long-term assets

 

—

 

30,298

 

273,660

 

—

 

303,958

 

Total assets

 

$

4,908,993

 

$

5,961,440

 

$

14,548,055

 

$

(13,538,546

)

$

11,879,942

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

Current debt

 

$

—

 

$

—

 

$

6,190

 

$

—

 

$

6,190

 

Trade accounts payable

 

111

 

2

 

779,947

 

—

 

780,060

 

Accrued liabilities

 

263

 

64,390

 

663,351

 

—

 

728,004

 

Income taxes payable

 

—

 

—

 

53,221

 

—

 

53,221

 

Short-term intercompany note

 

—

 

—

 

880,820

 

(880,820

)

—

 

Total current liabilities

 

374

 

64,392

 

2,383,529

 

(880,820

)

1,567,475

 

Long-term debt

 

—

 

4,389,299

 

(40,440

)

—

 

4,348,859

 

Other long-term liabilities

 

—

 

35,480

 

566,336

 

—

 

601,816

 

Deferred income taxes

 

—

 

(294,655

)

737,658

 

—

 

443,003

 

Intercompany payable

 

—

 

1,422,882

 

—

 

(1,422,882

)

—

 

Total liabilities

 

374

 

5,617,398

 

3,647,083

 

(2,303,702

)

6,961,153

 

Subsidiary preferred stock

 

—

 

—

 

—

 

—

 

—

 

Shareholders’ equity

 

4,908,619

 

344,042

 

10,890,802

 

(11,234,844

)

4,908,619

 

Noncontrolling interest

 

—

 

—

 

10,170

 

—

 

10,170

 

Total equity

 

4,908,619

 

344,042

 

10,900,972

 

(11,234,844

)

4,918,789

 

Total liabilities and equity

 

$

4,908,993

 

$

5,961,440

 

$

14,548,055

 

$

(13,538,546

)

$

11,879,942

 

 

Condensed Consolidating Statements of Income (Loss)

 

 

 

Three Months Ended March 31, 2015

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

Revenues and other income:

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

—

 

$

—

 

$

1,414,707

 

$

—

 

$

1,414,707

 

Earnings from unconsolidated affiliates

 

—

 

—

 

6,502

 

—

 

6,502

 

Earnings (losses) from consolidated affiliates

 

138,037

 

(46,440

)

(78,438

)

(13,159

)

 —

 

Investment income (loss)

 

—

 

5

 

3,291

 

(2,327

)

969

 

Intercompany Interest income

 

—

 

2,439

 

—

 

(2,439

)

—

 

Total revenues and other income

 

138,037

 

(43,996

)

1,346,062

 

(17,925

)

1,422,178

 

Costs and other deductions:

 

 

 

 

 

 

 

 

 

 

 

Direct costs

 

—

 

—

 

919,610

 

—

 

919,610

 

General and administrative expenses

 

2,719

 

358

 

124,200

 

(144

)

127,133

 

Depreciation and amortization

 

—

 

612

 

280,407

 

—

 

281,019

 

Interest expense

 

—

 

52,264

 

(5,663

)

—

 

46,601

 

Intercompany interest expense

 

—

 

—

 

2,439

 

(2,439

)

—

 

Losses (gains) on sales and disposals of long-lived assets and other expense (income), net

 

11,684

 

—

 

(67,670

)

144

 

(55,842

)

Impairment and other charges

 

—

 

—

 

—

 

—

 

—

 

Other

 

—

 

—

 

—

 

—

 

—

 

Total costs and other deductions

 

14,403

 

53,234

 

1,253,323

 

(2,439

)

1,318,521

 

Income from continuing operations before income tax

 

123,634

 

(97,230

)

92,739

 

(15,486

)

103,657

 

Income tax expense (benefit)

 

—

 

(18,792

)

(1,913

)

—

 

(20,705

)

Income (loss) from continuing operations, net of tax

 

123,634

 

(78,438

)

94,652

 

(15,486

)

124,362

 

Income (loss) from discontinued operations, net of tax

 

—

 

—

 

(817

)

—

 

(817

)

Net income (loss)

 

123,634

 

(78,438

)

93,835

 

(15,486

)

123,545

 

Less: Net (income) loss attributable to noncontrolling interest

 

—

 

—

 

89

 

—

 

89

 

Net income (loss) attributable to Nabors

 

$

123,634

 

$

(78,438

)

$

93,924

 

$

(15,486

)

$

123,634

 

 

Condensed Consolidating Statements of Income (Loss)

 

 

 

Three Months Ended March 31, 2014

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

Revenues and other income:

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

—

 

$

—

 

$

1,589,618

 

$

—

 

$

1,589,618

 

Earnings from unconsolidated affiliates

 

—

 

—

 

(2,445

)

—

 

(2,445

)

Earnings (losses) from consolidated affiliates

 

52,583

 

(8,760

)

(40,089

)

(3,734

)

 —

 

Investment income (loss)

 

—

 

—

 

2,116

 

(1,136

)

980

 

Intercompany Interest income

 

—

 

—

 

—

 

—

 

—

 

Total revenues and other income

 

52,583

 

(8,760

)

1,549,200

 

(4,870

)

1,588,153

 

Costs and other deductions:

 

 

 

 

 

 

 

 

 

 

 

Direct costs

 

—

 

—

 

1,061,739

 

—

 

1,061,739

 

General and administrative expenses

 

2,453

 

(319

)

132,281

 

(149

)

134,266

 

Depreciation and amortization

 

—

 

902

 

281,225

 

—

 

282,127

 

Interest expense

 

—

 

49,369

 

(4,559

)

—

 

44,810

 

Intercompany interest expense

 

62

 

—

 

(62

)

—

 

—

 

Losses (gains) on sales and disposals of long-lived assets and other expense (income), net

 

149

 

(223

)

1,401

 

149

 

1,476

 

Impairment and other charges

 

—

 

—

 

—

 

—

 

—

 

Other

 

—

 

—

 

—

 

—

 

—

 

Total costs and other deductions

 

2,664

 

49,729

 

1,472,025

 

—

 

1,524,418

 

Income from continuing operations before income tax

 

49,919

 

(58,489

)

77,175

 

(4,870

)

63,735

 

Income tax expense (benefit)

 

—

 

(18,400

)

32,408

 

—

 

14,008

 

Subsidiary preferred stock dividend

 

—

 

—

 

750

 

—

 

750

 

Income (loss) from continuing operations, net of tax

 

49,919

 

(40,089

)

44,017

 

(4,870

)

48,977

 

Income (loss) from discontinued operations, net of tax

 

—

 

—

 

1,515

 

—

 

1,515

 

Net income (loss)

 

49,919

 

(40,089

)

45,532

 

(4,870

)

50,492

 

Less: Net (income) loss attributable to noncontrolling interest

 

—

 

—

 

(573

)

—

 

(573

)

Net income (loss) attributable to Nabors

 

$

49,919

 

$

(40,089

)

$

44,959

 

$

(4,870

)

$

49,919

 

 

Condensed Consolidating Statements of Other Comprehensive Income (Loss)

 

 

 

Three Months Ended March 31, 2015

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

Net income (loss) attributable to Nabors

 

$

123,634

 

$

(78,438

)

$

93,924

 

$

(15,486

)

$

123,634

 

Other comprehensive income (loss) before tax:

 

 

 

 

 

 

 

 

 

 

 

Translation adjustment attributable to Nabors:

 

 

 

 

 

 

 

 

 

 

 

Unrealized loss on translation adjustment

 

(68,539

)

51

 

(68,488

)

68,437

 

(68,539

)

Less: reclassification adjustment for realized loss on translation adjustment

 

5,365

 

—

 

5,365

 

(5,365

)

5,365

 

Translation adjustment attributable to Nabors

 

(63,174

)

51

 

(63,123

)

63,072

 

(63,174

)

Unrealized gains/(losses) on marketable securities

 

153

 

—

 

153

 

(153

)

153

 

Pension liability amortization and adjustment

 

276

 

276

 

552

 

(828

)

276

 

Unrealized gains/(losses) and amortization of cash flow hedges

 

153

 

153

 

153

 

(306

)

153

 

Other comprehensive income (loss) before tax

 

(62,592

)

480

 

(62,265

)

61,785

 

(62,592

)

Income tax expense (benefit) related to items of other comprehensive income (loss)

 

162

 

162

 

264

 

(426

)

162

 

Other comprehensive income (loss), net of tax

 

(62,754

)

318

 

(62,529

)

62,211

 

(62,754

)

Comprehensive income (loss) attributable to Nabors

 

60,880

 

(78,120

)

31,395

 

46,725

 

60,880

 

Net income (loss) attributable to noncontrolling interest

 

—

 

—

 

(89

)

—

 

(89

)

Translation adjustment to noncontrolling interest

 

—

 

—

 

(880

)

—

 

(880

)

Comprehensive income (loss) attributable to noncontrolling interest

 

—

 

—

 

(969

)

—

 

(969

)

Comprehensive income (loss)

 

$

60,880

 

$

(78,120

)

$

30,426

 

$

46,725

 

$

59,911

 

 

Condensed Consolidating Statements of Other Comprehensive Income (Loss)

 

 

 

Three Months Ended March 31, 2014

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

Net income (loss) attributable to Nabors

 

$

49,919

 

$

(40,089

)

$

44,959

 

$

(4,870

)

$

49,919

 

Other comprehensive income (loss) before tax:

 

 

 

 

 

 

 

 

 

 

 

Translation adjustment attributable to Nabors

 

(36,594

)

(216

)

(36,813

)

37,029

 

(36,594

)

Unrealized gains/(losses) on marketable securities:

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains/(losses) on marketable securities

 

(19,208

)

—

 

(19,208

)

19,208

 

(19,208

)

Less: reclassification adjustment for (gains) losses on marketable securities

 

—

 

—

 

—

 

—

 

—

 

Unrealized gains/(losses) on marketable securities

 

(19,208

)

—

 

(19,208

)

19,208

 

(19,208

)

Pension liability amortization and adjustment

 

123

 

123

 

246

 

(369

)

123

 

Unrealized gains/(losses) and amortization of cash flow hedges

 

153

 

153

 

153

 

(306

)

153

 

Other comprehensive income (loss) before tax

 

(55,526

)

60

 

(55,622

)

55,562

 

(55,526

)

Income tax expense (benefit) related to items of other comprehensive income (loss)

 

148

 

148

 

236

 

(384

)

148

 

Other comprehensive income (loss), net of tax

 

(55,674

)

(88

)

(55,858

)

55,946

 

(55,674

)

Comprehensive income (loss) attributable to Nabors

 

(5,755

)

(40,177

)

(10,899

)

51,076

 

(5,755

)

Net income (loss) attributable to noncontrolling interest

 

—

 

—

 

573

 

—

 

573

 

Translation adjustment to noncontrolling interest

 

—

 

—

 

(481

)

—

 

(481

)

Comprehensive income (loss) attributable to noncontrolling interest

 

—

 

—

 

92

 

—

 

92

 

Comprehensive income (loss)

 

$

(5,755

)

$

(40,177

)

$

(10,807

)

$

51,076

 

$

(5,663

)

 

Condensed Consolidating Statements of Cash Flows

 

 

 

Three Months Ended March 31, 2015

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

Net cash provided by (used for) operating activities

 

$

10,404

 

$

(101,784

)

$

386,877

 

$

11,673

 

$

307,170

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

Purchase of investments

 

—

 

—

 

1,710

 

—

 

1,710

 

Sales and maturities of investments

 

—

 

—

 

623

 

—

 

623

 

Cash paid for acquisition of businesses, net

 

—

 

—

 

—

 

—

 

—

 

Investment in unconsolidated affiliates

 

—

 

—

 

(445

)

—

 

(445

)

Proceeds from merger transaction

 

5,500

 

646,078

 

41,872

 

—

 

693,450

 

Capital expenditures

 

—

 

—

 

(364,234

)

—

 

(364,234

)

Proceeds from sales of assets and insurance claims

 

—

 

—

 

8,997

 

—

 

8,997

 

Other

 

—

 

—

 

—

 

—

 

—

 

Changes in intercompany balances

 

—

 

(11,668

)

11,668

 

—

 

—

 

Net cash provided by (used for) investing activities

 

5,500

 

634,410

 

(299,809

)

—

 

340,101

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

Increase (decrease) in cash overdrafts

 

—

 

—

 

(1,017

)

—

 

(1,017

)

Proceeds from (payments for) issuance of common shares

 

182

 

—

 

—

 

—

 

182

 

Dividends to shareholders

 

(19,797

)

—

 

—

 

2,327

 

(17,470

)

Proceeds from (payments for) commercial paper, net

 

—

 

(282,615

)

—

 

—

 

(282,615

)

Proceeds from issuance of intercompany debt

 

14,000

 

—

 

—

 

(14,000

)

—

 

Reduction in revolving credit facilities

 

—

 

(250,000

)

—

 

—

 

(250,000

)

Proceeds from term loan

 

—

 

300,000

 

—

 

—

 

300,000

 

Payments on term loan

 

—

 

(300,000

)

—

 

—

 

(300,000

)

Other

 

(7,089

)

—

 

2,540

 

—

 

(4,549

)

Net cash (used for) provided by financing activities

 

(12,704

)

(532,615

)

1,523

 

(11,673

)

(555,469

)

Effect of exchange rate changes on cash and cash equivalents

 

—

 

—

 

(6,950

)

—

 

(6,950

)

Net increase (decrease) in cash and cash equivalents

 

3,200

 

11

 

81,641

 

—

 

84,852

 

Cash and cash equivalents, beginning of period

 

1,170

 

7

 

499,972

 

—

 

501,149

 

Cash and cash equivalents, end of period

 

$

4,370

 

$

18

 

$

581,613

 

$

—

 

$

586,001

 

 

Condensed Consolidating Statements of Cash Flows

 

 

 

Three Months Ended March 31, 2014

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Nabors

 

Nabors

 

Subsidiaries

 

 

 

 

 

 

 

(Parent/

 

Delaware

 

(Non-

 

Consolidating

 

 

 

 

 

Guarantor)

 

(Issuer)

 

Guarantors)

 

Adjustments

 

Total

 

 

 

(In thousands)

 

Net cash provided by (used for) operating activities

 

$

(1,579

)

$

(83,877

)

$

514,731

 

$

15,288

 

$

444,563

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

Purchase of investments

 

—

 

—

 

(286

)

—

 

(286

)

Sales and maturities of investments

 

—

 

—

 

733

 

—

 

733

 

Cash paid for acquisition of businesses, net

 

—

 

—

 

(10,200

)

—

 

(10,200

)

Investment in unconsolidated affiliates

 

—

 

—

 

(1,255

)

—

 

(1,255

)

Capital expenditures

 

—

 

—

 

(396,465

)

—

 

(396,465

)

Proceeds from sales of assets and insurance claims

 

—

 

—

 

21,605

 

—

 

21,605

 

Changes in intercompany balances

 

—

 

176,446

 

(176,446

)

—

 

—

 

Net cash provided by (used for) investing activities

 

—

 

176,446

 

(562,314

)

—

 

(385,868

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

Increase (decrease) in cash overdrafts

 

—

 

—

 

(1,822

)

—

 

(1,822

)

Proceeds from (payments for) issuance of common shares

 

4,931

 

—

 

—

 

—

 

4,931

 

Dividends to shareholders

 

(13,029

)

—

 

—

 

1,136

 

(11,893

)

Proceeds from (payments for) commercial paper, net

 

—

 

(39,594

)

—

 

—

 

(39,594

)

Proceeds from revolving credit facilities

 

—

 

—

 

15,000

 

—

 

15,000

 

Reduction in revolving credit facilities

 

—

 

(60,000

)

(7,500

)

—

 

(67,500

)

Proceeds from (payments for) issuance of parent common shares to affiliates

 

16,424

 

—

 

—

 

(16,424

)

—

 

Other

 

(6,585

)

—

 

(5,000

)

—

 

(11,585

)

Net cash (used for) provided by financing activities

 

1,741

 

(99,594

)

678

 

(15,288

)

(112,463

)

Effect of exchange rate changes on cash and cash equivalents

 

—

 

—

 

(9,266

)

—

 

(9,266

)

Net increase (decrease) in cash and cash equivalents

 

162

 

(7,025

)

(56,171

)

—

 

(63,034

)

Cash and cash equivalents, beginning of period

 

730

 

7,029

 

382,156

 

—

 

389,915

 

Cash and cash equivalents, end of period

 

$

892

 

$

4

 

$

325,985

 

$

—

 

$

326,881