Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2015

Condensed Consolidating Financial Information

Condensed Consolidating Balance Sheets

	June 30, 2015
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
	ASSETS
Current assets:
Cash and cash equivalents	$	1,436	$	10		$	435,229		$	—		$	436,675
Short-term investments	—		—			33,222			—			33,222
Assets held for sale	—		—			136,677			—			136,677
Accounts receivable, net	—		—			908,563			—			908,563
Inventory	—		—			183,775			—			183,775
Deferred income taxes	—		—			—			—			—
Other current assets	50		13,908			256,285			—			270,243
Total current assets	1,486		13,918			1,953,751			—			1,969,155
Long-term investments	—		—			2,617			—			2,617
Property, plant and equipment, net	—		—			7,405,441			—			7,405,441
Goodwill	—		—			139,756			—			139,756
Intercompany receivables	125,042		62,000			1,147,968			(1,335,010		)	—
Investment in consolidated affiliates	4,805,715		5,022,430			1,394,834			(11,222,979		)	—
Investment in unconsolidated affiliates	—		—			676,234			—			676,234
Other long-term assets	—		28,465			295,615			—			324,080
Total assets	$	4,932,243	$	5,126,813		$	13,016,216		$	(12,557,989	)	$	10,517,283
	LIABILITIES AND EQUITY
Current liabilities:
Current debt	$	—	$	—		66,359			$	—		$	66,359
Trade accounts payable	195		6			362,857			—			363,058
Accrued liabilities	88		64,286			708,913			—			773,287
Income taxes payable	—		—			20,049			—			20,049
Total current liabilities	283		64,292			1,158,178			—			1,222,753
Long-term debt	—		3,731,816			(40,459		)	—			3,691,357
Other long-term liabilities	—		35,546			590,965			—			626,511
Deferred income taxes	—		(330,586		)	367,873			—			37,287
Intercompany payable	—		1,335,010			—			(1,335,010		)	—
Total liabilities	283		4,836,078			2,076,557			(1,335,010		)	5,577,908
Subsidiary preferred stock	—		—			—			—			—
Shareholders’ equity	4,931,960		290,735			10,932,244			(11,222,979		)	4,931,960
Noncontrolling interest	—		—			7,415			—			7,415
Total equity	4,931,960		290,735			10,939,659			(11,222,979		)	4,939,375
Total liabilities and equity	$	4,932,243	$	5,126,813		$	13,016,216		$	(12,557,989	)	$	10,517,283

	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 consolidated affiliates	4,771,413		5,014,743			1,448,688			(11,234,844		)	—
Investment in unconsolidated affiliates	—		—			58,251			—			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 June 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	863,305		$	—		$	863,305
Earnings (losses) from unconsolidated affiliates	—			—			(1,116		)	—			(1,116		)
Earnings (losses) from consolidated affiliates	(34,151		)	53,933			24,751			(44,533		)	—
Investment income (loss)	—			555			2,953			(2,327		)	1,181
Intercompany interest income	—			2,187			—			(2,187		)	—
Total revenues and other income	(34,151		)	56,675			889,893			(49,047		)	863,370
Costs and other deductions:
Direct costs	—			—			488,522			—			488,522
General and administrative expenses	2,112			(681		)	84,999			(140		)	86,290
Depreciation and amortization	—			31			218,165			—			218,196
Interest expense	(1		)	49,713			(5,243		)	—			44,469
Intercompany interest expense	24			—			2,163			(2,187		)	—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	535			—			663			140			1,338
Other	—			—			—			—			—
Total costs and other deductions	2,670			49,063			789,269			(2,187		)	838,815
Income (loss) from continuing operations before income tax	(36,821		)	7,612			100,624			(46,860		)	24,555
Income tax expense (benefit)	—			(17,139		)	83,584			—			66,445
Income (loss) from continuing operations, net of tax	(36,821		)	24,751			17,040			(46,860		)	(41,890		)
Income (loss) from discontinued operations, net of tax	—			—			5,025			—			5,025
Net income (loss)	(36,821		)	24,751			22,065			(46,860		)	(36,865		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			44			—			44
Net income (loss) attributable to Nabors	$	(36,821	)	$	24,751		$	22,109		$	(46,860	)	$	(36,821	)

	Three Months Ended June 30, 2014
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	1,616,981		$	—		$	1,616,981
Earnings (losses) from unconsolidated affiliates	—			—			(576		)	—			(576		)
Earnings (losses) from consolidated affiliates	67,009			53,368			21,844			(142,221		)	—
Investment income (loss)	—			146			8,056			(1,136		)	7,066
Intercompany interest income	—			—			—			—			—
Total revenues and other income	67,009			53,514			1,646,305			(143,357		)	1,623,471
Costs and other deductions:
Direct costs	—			—			1,066,495			—			1,066,495
General and administrative expenses	2,439			(31		)	131,351			(129		)	133,630
Depreciation and amortization	—			902			281,918			—			282,820
Interest expense	—			49,313			(3,010		)	—			46,303
Intercompany interest expense	(3		)	—			3			—			—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	129			—			16,246			129			16,504
Other	—			—			—			—			—
Total costs and other deductions	2,565			50,184			1,493,003			—			1,545,752
Income (loss) from continuing operations before income tax	64,444			3,330			153,302			(143,357		)	77,719
Income tax expense (benefit)	—			(18,514		)	29,270			—			10,756
Subsidiary preferred stock dividend	—			—			1,234			—			1,234
Income (loss) from continuing operations, net of tax	64,444			21,844			122,798			(143,357		)	65,729
Income (loss) from discontinued operations, net of tax	—			—			(1,032		)	—			(1,032		)
Net income (loss)	64,444			21,844			121,766			(143,357		)	64,697
Less: Net (income) loss attributable to noncontrolling interest	—			—			(253		)	—			(253		)
Net income (loss) attributable to Nabors	$	64,444		$	21,844		$	121,513		$	(143,357	)	$	64,444

	Six Months Ended June 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	2,278,012		$	—		$	2,278,012
Earnings (losses) from unconsolidated affiliates	—			—			5,386			—			5,386
Earnings (losses) from consolidated affiliates	103,886			7,493			(53,687		)	(57,692		)	—
Investment income (loss)	—			560			6,244			(4,654		)	2,150
Intercompany interest income	—			4,626			—			(4,626		)	—
Total revenues and other income	103,886			12,679			2,235,955			(66,972		)	2,285,548
Costs and other deductions:
Direct costs	—			—			1,408,132			—			1,408,132
General and administrative expenses	4,831			(323		)	209,199			(284		)	213,423
Depreciation and amortization	—			643			498,572			—			499,215
Interest expense	(1		)	101,977			(10,906		)	—			91,070
Intercompany interest expense	24			—			4,602			(4,626		)	—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	12,219			—			(67,007		)	284			(54,504		)
Other	—			—			—			—			—
Total costs and other deductions	17,073			102,297			2,042,592			(4,626		)	2,157,336
Income (loss) from continuing operations before income tax	86,813			(89,618		)	193,363			(62,346		)	128,212
Income tax expense (benefit)	—			(35,931		)	81,671			—			45,740
Income (loss) from continuing operations, net of tax	86,813			(53,687		)	111,692			(62,346		)	82,472
Income (loss) from discontinued operations, net of tax	—			—			4,208			—			4,208
Net income (loss)	86,813			(53,687		)	115,900			(62,346		)	86,680
Less: Net (income) loss attributable to noncontrolling interest	—			—			133			—			133
Net income (loss) attributable to Nabors	$	86,813		$	(53,687	)	$	116,033		$	(62,346	)	$	86,813

	Six Months Ended June 30, 2014
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	3,206,599		$	—		$	3,206,599
Earnings (losses) from unconsolidated affiliates	—		—			(3,021		)	—			(3,021		)
Earnings (losses) from consolidated affiliates	119,592		44,608			(18,245		)	(145,955		)	—
Investment income (loss)	—		146			10,172			(2,272		)	8,046
Intercompany interest income	—		—			—			—			—
Total revenues and other income	119,592		44,754			3,195,505			(148,227		)	3,211,624
Costs and other deductions:
Direct costs	—		—			2,128,234			—			2,128,234
General and administrative expenses	4,892		(350		)	263,632			(278		)	267,896
Depreciation and amortization	—		1,804			563,143			—			564,947
Interest expense	—		98,682			(7,569		)	—			91,113
Intercompany interest expense	59		—			(59		)	—			—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	278		(223		)	17,647			278			17,980
Other	—		—			—			—			—
Total costs and other deductions	5,229		99,913			2,965,028			—			3,070,170
Income (loss) from continuing operations before income tax	114,363		(55,159		)	230,477			(148,227		)	141,454
Income tax expense (benefit)	—		(36,914		)	61,678			—			24,764
Subsidiary preferred stock dividend	—		—			1,984			—			1,984
Income (loss) from continuing operations, net of tax	114,363		(18,245		)	166,815			(148,227		)	114,706
Income (loss) from discontinued operations, net of tax	—		—			483			—			483
Net income (loss)	114,363		(18,245		)	167,298			(148,227		)	115,189
Less: Net (income) loss attributable to noncontrolling interest	—		—			(826		)	—			(826		)
Net income (loss) attributable to Nabors	$	114,363	$	(18,245	)	$	166,472		$	(148,227	)	$	114,363

Condensed Consolidating Statements of Comprehensive Income (Loss)

	Three Months Ended June 30, 2015
						Other
	Nabors			Nabors		Subsidiaries
	(Parent/			Delaware		(Non-			Consolidating
	Guarantor)			(Issuer)		Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(36,821	)	$	24,751	$	22,109		$	(46,860	)	$	(36,821	)
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors
Unrealized gains (losses) on translation adjustment	12,273			—		12,273			(12,273		)	12,273
Less: reclassification adjustment for realized loss on translation adjustment	—			—		—			—			—
Translation adjustment attributable to Nabors	12,273			—		12,273			(12,273		)	12,273
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(2,153		)	—		(2,153		)	2,153			(2,153		)
Less: reclassification adjustment for (gains) losses on marketable securities	—			—		—			—			—
Unrealized gains (losses) on marketable securities	(2,153		)	—		(2,153		)	2,153			(2,153		)
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	10,549			429		10,825			(11,254		)	10,549
Income tax expense (benefit) related to items of other comprehensive income (loss)	161			161		263			(424		)	161
Other comprehensive income (loss), net of tax	10,388			268		10,562			(10,830		)	10,388
Comprehensive income (loss) attributable to Nabors	(26,433		)	25,019		32,671			(57,690		)	(26,433		)
Net income (loss) attributable to noncontrolling interest	—			—		(44		)	—			(44		)
Translation adjustment to noncontrolling interest	—			—		162			—			162
Comprehensive income (loss) attributable to noncontrolling interest	—			—		118			—			118
Comprehensive income (loss)	$	(26,433	)	$	25,019	$	32,789		$	(57,690	)	$	(26,315	)

	Three Months Ended June 30, 2014
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	64,444		$	21,844		$	121,513		$	(143,357	)	$	64,444
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors	32,255			1,937			32,458			(34,395		)	32,255
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(325		)	243			(82		)	(161		)	(325		)
Less: reclassification adjustment for (gains) losses on marketable securities	(4,903		)	(506		)	(5,409		)	5,915			(4,903		)
Unrealized gains (losses) on marketable securities	(5,228		)	(263		)	(5,491		)	5,754			(5,228		)
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	27,303			1,950			27,366			(29,316		)	27,303
Income tax expense (benefit) related to items of other comprehensive income (loss)	(784		)	(784		)	(1,863		)	2,647			(784		)
Other comprehensive income (loss), net of tax	28,087			2,734			29,229			(31,963		)	28,087
Comprehensive income (loss) attributable to Nabors	92,531			24,578			150,742			(175,320		)	92,531
Net income (loss) attributable to noncontrolling interest	—			—			253			—			253
Translation adjustment to noncontrolling interest	—			—			379			—			379
Comprehensive income (loss) attributable to noncontrolling interest	—			—			632			—			632
Comprehensive income (loss)	$	92,531		$	24,578		$	151,374		$	(175,320	)	$	93,163

	Six Months Ended June 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	86,813		$	(53,687	)	$	116,033		$	(62,346	)	$	86,813
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors
Unrealized gains (losses) on translation adjustment	(56,266		)	51			(56,215		)	56,164			(56,266		)
Less: reclassification adjustment for realized loss on translation adjustment	5,365			—			5,365			(5,365		)	5,365
Translation adjustment attributable to Nabors	(50,901		)	51			(50,850		)	50,799			(50,901		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(2,000		)	—			(2,000		)	2,000			(2,000		)
Less: reclassification adjustment for (gains) losses on marketable securities	—			—			—			—			—
Unrealized gains (losses) on marketable securities	(2,000		)	—			(2,000		)	2,000			(2,000		)
Pension liability amortization and adjustment	552			552			1,104			(1,656		)	552
Unrealized gains (losses) and amortization of cash flow hedges	306			306			306			(612		)	306
Other comprehensive income (loss) before tax	(52,043		)	909			(51,440		)	50,531			(52,043		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	323			323			527			(850		)	323
Other comprehensive income (loss), net of tax	(52,366		)	586			(51,967		)	51,381			(52,366		)
Comprehensive income (loss) attributable to Nabors	34,447			(53,101		)	64,066			(10,965		)	34,447
Net income (loss) attributable to noncontrolling interest	—			—			(133		)	—			(133		)
Translation adjustment to noncontrolling interest	—			—			(718		)	—			(718		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			(851		)	—			(851		)
Comprehensive income (loss)	$	34,447		$	(53,101	)	$	63,215		$	(10,965	)	$	33,596

	Six Months Ended June 30, 2014
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	114,363		$	(18,245	)	$	166,472		$	(148,227	)	$	114,363
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors	(4,339		)	1,721			(4,355		)	2,634			(4,339		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(19,533		)	243			(19,290		)	19,047			(19,533		)
Less: reclassification adjustment for (gains) losses on marketable securities	(4,903		)	(506		)	(5,409		)	5,915			(4,903		)
Unrealized gains (losses) on marketable securities	(24,436		)	(263		)	(24,699		)	24,962			(24,436		)
Pension liability amortization and adjustment	246			246			492			(738		)	246
Unrealized gains (losses) and amortization of cash flow hedges	306			306			306			(612		)	306
Other comprehensive income (loss) before tax	(28,223		)	2,010			(28,256		)	26,246			(28,223		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(636		)	(636		)	(1,627		)	2,263			(636		)
Other comprehensive income (loss), net of tax	(27,587		)	2,646			(26,629		)	23,983			(27,587		)
Comprehensive income (loss) attributable to Nabors	86,776			(15,599		)	139,843			(124,244		)	86,776
Net income (loss) attributable to noncontrolling interest	—			—			826			—			826
Translation adjustment to noncontrolling interest	—			—			(102		)	—			(102		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			724			—			724
Comprehensive income (loss)	$	86,776		$	(15,599	)	$	140,567		$	(124,244	)	$	87,500

Condensed Consolidating Statements of Cash Flows

	Six Months Ended June 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	40,628		$	(120,729	)	$	623,481		$	(25,976	)	$	517,404
Cash flows from investing activities:
Purchase of investments	—			—			(8		)	—			(8		)
Sales and maturities of investments	—			—			745			—			745
Cash paid for acquisition of businesses, net	—			—			(57,909		)	—			(57,909		)
Investment in unconsolidated affiliates	—			—			(445		)	—			(445		)
Proceeds from merger transaction	5,500			646,078			8,472			—			660,050
Capital expenditures	—			—			(566,672		)	—			(566,672		)
Proceeds from sales of assets and insurance claims	—			—			24,790			—			24,790
Other	—			—			1,809			—			1,809
Changes in intercompany balances	—			45,063			(45,063		)	—			—
Net cash provided by (used for) investing activities	5,500			691,141			(634,281		)	—			62,360
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			310			—			310
Proceeds from (payments for) issuance of common shares	1,198			—			—			—			1,198
Dividends to shareholders	(39,634		)	—			—			4,654			(34,980		)
Proceeds from short-term borrowings	—			—			60,169			—			60,169
Proceeds from (payments for) commercial paper, net	—			(208,467		)	—			—			(208,467		)
Reduction in revolving credit facility	—			(450,000		)	—			—			(450,000		)
Proceeds from term loan facility	—			300,000			—			—			300,000
Payments on term loan facility	—			(300,000		)	—			—			(300,000		)
Proceeds from issuance of intercompany debt	27,000			88,058			(115,058		)	—			—
Paydown of intercompany debt	(27,000		)	—			27,000			—			—
Payments on Parent (Equity or N/P)	—			—			(21,322		)	21,322			—
Other	(7,426		)	—			—			—			(7,426		)
Net cash (used for) provided by financing activities	(45,862		)	(570,409		)	(48,901		)	25,976			(639,196		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(5,042		)	—			(5,042		)
Net increase (decrease) in cash and cash equivalents	266			3			(64,743		)	—			(64,474		)
Cash and cash equivalents, beginning of period	1,170			7			499,972			—			501,149
Cash and cash equivalents, end of period	$	1,436		$	10		$	435,229		$	—		$	436,675

	Six Months Ended June 30, 2014
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	(11,728	)	$	(62,435	)	$	906,048		$	14,152		$	846,037
Cash flows from investing activities:
Purchase of investments	—			—			(266		)	—			(266		)
Sales and maturities of investments	—			—			23,238			—			23,238
Cash paid for acquisition of businesses, net	—			—			(10,200		)	—			(10,200		)
Investment in unconsolidated affiliates	—			—			(1,612		)	—			(1,612		)
Capital expenditures	—			—			(862,680		)	—			(862,680		)
Proceeds from sales of assets and insurance claims	—			—			69,343			—			69,343
Other	—			—			(761		)	—			(761		)
Changes in intercompany balances	—			4,182			(4,182		)	—			—
Net cash provided by (used for) investing activities	—			4,182			(787,120		)	—			(782,938		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(3,383		)	—			(3,383		)
Proceeds from (payments for) issuance of common shares	29,048			—			(1		)	—			29,047
Dividends to shareholders	(26,064		)	—			—			2,272			(23,792		)
Proceeds from (payments for) commercial paper, net	—			111,228			—			—			111,228
Proceeds from revolving credit facilities	—			—			15,000			—			15,000
Reduction in revolving credit facilities	—			(60,000		)	(15,000		)	—			(75,000		)
Purchase of preferred stock	—			—			(70,875		)	—			(70,875		)
Reduction in short-term debt	—			—			(10,000		)	—			(10,000		)
Proceeds from (payments for) issuance of parent common shares to affiliates	16,424			—			—			(16,424		)	—
Other	(7,303		)	—			—			—			(7,303		)
Net cash (used for) provided by financing activities	12,105			51,228			(84,259		)	(14,152		)	(35,078		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(6,978		)	—			(6,978		)
Net increase (decrease) in cash and cash equivalents	377			(7,025		)	27,691			—			21,043
Cash and cash equivalents, beginning of period	730			7,029			382,156			—			389,915
Cash and cash equivalents, end of period	$	1,107		$	4		$	409,847		$	—		$	410,958