Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2015

Condensed Consolidating Financial Information

Condensed consolidating balance sheets

	September 30, 2015
					Other
	Nabors		Nabors		Subsidiaries
	(Parent/		Delaware		(Non-		Consolidating
	Guarantor)		(Issuer)		Guarantors)		Adjustments			Total
	(In thousands)
	ASSETS
Current assets:
Cash and cash equivalents	$	820	$	12	$	250,534	$	—		$	251,366
Short-term investments	—		—		25,196		—			25,196
Assets held for sale	—		—		78,400		—			78,400
Accounts receivable, net	—		—		871,385		—			871,385
Inventory	—		—		177,221		—			177,221
Deferred income taxes	—		—		39,981		—			39,981
Other current assets	57		13,841		261,628		—			275,526
Total current assets	877		13,853		1,704,345		—			1,719,075
Long-term investments	—		—		42,914		(40,459		)	2,455
Property, plant and equipment, net	—		—		7,287,531		—			7,287,531
Goodwill	—		—		150,032		—			150,032
Intercompany receivables	132,398		62,000		1,211,961		(1,406,359		)	—
Investment in consolidated affiliates	4,389,414		4,974,982		1,316,849		(10,681,245		)	—
Investment in unconsolidated affiliates	—		—		460,543		—			460,543
Deferred tax assets	—		348,575		—		(348,575		)	—
Other long-term assets	—		31,483		278,062		—			309,545
Total assets	$	4,522,689	$	5,430,893	$	12,452,237	$	(12,476,638	)	$	9,929,181
	LIABILITIES AND EQUITY
Current liabilities:
Current debt	$	—	$	—	8,982		$	—		$	8,982
Trade accounts payable	66		2		302,347		—			302,415
Accrued liabilities	309		18,139		712,361		—			730,809
Income taxes payable	—		—		7,345		—			7,345
Total current liabilities	375		18,141		1,031,035		—			1,049,551
Long-term debt	—		3,778,232		—		(40,459		)	3,737,773
Other long-term liabilities	—		35,411		595,047		—			630,458
Deferred income taxes	—		—		348,575		(348,575		)	—
Intercompany payable	20,000		1,386,359		—		(1,406,359		)	—
Total liabilities	20,375		5,218,143		1,974,657		(1,795,393		)	5,417,782
Subsidiary preferred stock	—		—		—		—			—
Shareholders’ equity	4,502,314		212,750		10,468,494		(10,681,245		)	4,502,313
Noncontrolling interest	—		—		9,086		—			9,086
Total equity	4,502,314		212,750		10,477,580		(10,681,245		)	4,511,399
Total liabilities and equity	$	4,522,689	$	5,430,893	$	12,452,237	$	(12,476,638	)	$	9,929,181

	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	—		—		43,246		(40,440		)	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
Deferred tax assets	—		294,655				(294,655		)	—
Other long-term assets	—		30,298		273,660		—			303,958
Total assets	$	4,908,993	$	6,256,095	$	14,588,495	$	(13,873,641	)	$	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	—		—		737,658		(294,655		)	443,003
Intercompany payable	—		1,422,882		—		(1,422,882		)	—
Total liabilities	374		5,912,053		3,687,523		(2,638,797		)	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	$	6,256,095	$	14,588,495	$	(13,873,641	)	$	11,879,942

Condensed consolidating statements of income (loss)

	Three Months Ended September 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	847,553		$	—		$	847,553
Earnings (losses) from unconsolidated affiliates	—			—			(35,100		)	—			(35,100		)
Earnings (losses) from consolidated affiliates	(293,510		)	(47,522		)	(78,151		)	419,183			—
Investment income (loss)	—			—			2,305			(2,327		)	(22		)
Intercompany interest income	—			913			—			(913		)	—
Total revenues and other income	(293,510		)	(46,609		)	736,607			415,943			812,431
Costs and other deductions:
Direct costs	—			—			518,174			—			518,174
General and administrative expenses	2,216			180			79,487			(135		)	81,748
Depreciation and amortization	—			31			240,076			—			240,107
Interest expense	—			49,320			(4,872		)	—			44,448
Intercompany interest expense	(1		)	—			914			(913		)	—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	109			—			259,487			135			259,731
Total costs and other deductions	2,324			49,531			1,093,266			(913		)	1,144,208
Income (loss) from continuing operations before income tax	(295,834		)	(96,140		)	(356,659		)	416,856			(331,777		)
Income tax expense (benefit)	—			(17,989		)	(62,909		)	—			(80,898		)
Income (loss) from continuing operations, net of tax	(295,834		)	(78,151		)	(293,750		)	416,856			(250,879		)
Income (loss) from discontinued operations, net of tax	—			—			(45,275		)	—			(45,275		)
Net income (loss)	(295,834		)	(78,151		)	(339,025		)	416,856			(296,154		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			320			—			320
Net income (loss) attributable to Nabors	$	(295,834	)	$	(78,151	)	$	(338,705	)	$	416,856		$	(295,834	)

	Three Months Ended September 30, 2014
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	1,813,762		$	—		$	1,813,762
Earnings (losses) from unconsolidated affiliates	—		—			(2,851		)	—			(2,851		)
Earnings (losses) from consolidated affiliates	116,378		67,504			31,859			(215,741		)	—
Investment income (loss)	—		1,694			2,199			(1,704		)	2,189
Intercompany interest income	—		—			—			—			—
Total revenues and other income	116,378		69,198			1,844,969			(217,445		)	1,813,100
Costs and other deductions:
Direct costs	—		—			1,181,986			—			1,181,986
General and administrative expenses	3,097		7,957			128,065			(152		)	138,967
Depreciation and amortization	—		902			285,679			—			286,581
Interest expense	—		49,415			(6,277		)	—			43,138
Intercompany interest expense	7		—			(7		)	—			—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	7,226		—			(8,891		)	152			(1,513		)
Total costs and other deductions	10,330		58,274			1,580,555			—			1,649,159
Income (loss) from continuing operations before income tax	106,048		10,924			264,414			(217,445		)	163,941
Income tax expense (benefit)	—		(20,935		)	82,446			—			61,511
Income (loss) from continuing operations, net of tax	106,048		31,859			181,968			(217,445		)	102,430
Income (loss) from discontinued operations, net of tax	—		—			4,005			—			4,005
Net income (loss)	106,048		31,859			185,973			(217,445		)	106,435
Less: Net (income) loss attributable to noncontrolling interest	—		—			(387		)	—			(387		)
Net income (loss) attributable to Nabors	$	106,048	$	31,859		$	185,586		$	(217,445	)	$	106,048

	Nine Months Ended September 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	3,125,565		$	—		$	3,125,565
Earnings (losses) from unconsolidated affiliates	—			—			(29,714		)	—			(29,714		)
Earnings (losses) from consolidated affiliates	(189,624		)	(40,029		)	(131,838		)	361,491			—
Investment income (loss)	—			560			8,549			(6,981		)	2,128
Intercompany interest income	—			5,539			—			(5,539		)	—
Total revenues and other income	(189,624		)	(33,930		)	2,972,562			348,971			3,097,979
Costs and other deductions:
Direct costs	—			—			1,926,306			—			1,926,306
General and administrative expenses	7,047			(143		)	288,686			(419		)	295,171
Depreciation and amortization	—			674			738,648			—			739,322
Interest expense	(1		)	151,297			(15,778		)	—			135,518
Intercompany interest expense	23			—			5,516			(5,539		)	—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	12,328			—			192,480			419			205,227
Total costs and other deductions	19,397			151,828			3,135,858			(5,539		)	3,301,544
Income (loss) from continuing operations before income tax	(209,021		)	(185,758		)	(163,296		)	354,510			(203,565		)
Income tax expense (benefit)	—			(53,920		)	18,762			—			(35,158		)
Income (loss) from continuing operations, net of tax	(209,021		)	(131,838		)	(182,058		)	354,510			(168,407		)
Income (loss) from discontinued operations, net of tax	—			—			(41,067		)	—			(41,067		)
Net income (loss)	(209,021		)	(131,838		)	(223,125		)	354,510			(209,474		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			453			—			453
Net income (loss) attributable to Nabors	$	(209,021	)	$	(131,838	)	$	(222,672	)	$	354,510		$	(209,021	)

	Nine Months Ended September 30, 2014
						Other
	Nabors		Nabors			Subsidiaries
	(Parent/		Delaware			(Non-			Consolidating
	Guarantor)		(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	5,020,361		$	—		$	5,020,361
Earnings (losses) from unconsolidated affiliates	—		—			(5,872		)	—			(5,872		)
Earnings (losses) from consolidated affiliates	235,970		112,112			13,614			(361,696		)	—
Investment income (loss)	—		1,840			12,371			(3,976		)	10,235
Intercompany interest income	—		—			—			—			—
Total revenues and other income	235,970		113,952			5,040,474			(365,672		)	5,024,724
Costs and other deductions:
Direct costs	—		—			3,310,220			—			3,310,220
General and administrative expenses	7,989		7,607			391,697			(430		)	406,863
Depreciation and amortization	—		2,706			848,822			—			851,528
Interest expense	—		148,097			(13,846		)	—			134,251
Intercompany interest expense	66		—			(66		)	—			—
Losses (gains) on sales and disposals of long-lived assets and other expense (income), net	7,504		(223		)	8,756			430			16,467
Total costs and other deductions	15,559		158,187			4,545,583			—			4,719,329
Income (loss) from continuing operations before income tax	220,411		(44,235		)	494,891			(365,672		)	305,395
Income tax expense (benefit)	—		(57,849		)	144,124			—			86,275
Subsidiary preferred stock dividend	—		—			1,984			—			1,984
Income (loss) from continuing operations, net of tax	220,411		13,614			348,783			(365,672		)	217,136
Income (loss) from discontinued operations, net of tax	—		—			4,488			—			4,488
Net income (loss)	220,411		13,614			353,271			(365,672		)	221,624
Less: Net (income) loss attributable to noncontrolling interest	—		—			(1,213		)	—			(1,213		)
Net income (loss) attributable to Nabors	$	220,411	$	13,614		$	352,058		$	(365,672	)	$	220,411

Condensed consolidating statements of comprehensive income (loss)

	Three Months Ended September 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(295,834	)	$	(78,151	)	$	(338,705	)	$	416,856		$	(295,834	)
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors
Unrealized gains (losses) on translation adjustment	(38,859		)	—			(38,859		)	38,859			(38,859		)
Less: reclassification adjustment for realized loss on translation adjustment	—			—			—			—			—
Translation adjustment attributable to Nabors	(38,859		)	—			(38,859		)	38,859			(38,859		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(8,127		)	—			(8,127		)	8,127			(8,127		)
Less: reclassification adjustment for (gains) losses on marketable securities	—			—			—			—			—
Unrealized gains (losses) on marketable securities	(8,127		)	—			(8,127		)	8,127			(8,127		)
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	(46,557		)	429			(46,281		)	45,852			(46,557		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	162			162			264			(426		)	162
Other comprehensive income (loss), net of tax	(46,719		)	267			(46,545		)	46,278			(46,719		)
Comprehensive income (loss) attributable to Nabors	(342,553		)	(77,884		)	(385,250		)	463,134			(342,553		)
Net income (loss) attributable to noncontrolling interest	—			—			(320		)	—			(320		)
Translation adjustment to noncontrolling interest	—			—			(476		)	—			(476		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			(796		)	—			(796		)
Comprehensive income (loss)	$	(342,553	)	$	(77,884	)	$	(386,046	)	$	463,134		$	(343,349	)

	Three Months Ended September 30, 2014
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	106,048		$	31,859		$	185,586		$	(217,445	)	$	106,048
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors	(41,713		)	(33		)	(41,707		)	41,740			(41,713		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(15,054		)	(87		)	(15,141		)	15,228			(15,054		)
Less: reclassification adjustment for (gains) losses on marketable securities	267			(1,889		)	(1,622		)	3,511			267
Unrealized gains (losses) on marketable securities	(14,787		)	(1,976		)	(16,763		)	18,739			(14,787		)
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	(56,224		)	(1,733		)	(58,071		)	59,804			(56,224		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	107			107			390			(497		)	107
Other comprehensive income (loss), net of tax	(56,331		)	(1,840		)	(58,461		)	60,301			(56,331		)
Comprehensive income (loss) attributable to Nabors	49,717			30,019			127,125			(157,144		)	49,717
Net income (loss) attributable to noncontrolling interest	—			—			387			—			387
Translation adjustment to noncontrolling interest	—			—			(522		)	—			(522		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			(135		)	—			(135		)
Comprehensive income (loss)	$	49,717		$	30,019		$	126,990		$	(157,144	)	$	49,582

	Nine Months Ended September 30, 2015
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(209,021	)	$	(131,838	)	$	(222,672	)	$	354,510		$	(209,021	)
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors
Unrealized gains (losses) on translation adjustment	(95,125		)	51			(95,074		)	95,023			(95,125		)
Less: reclassification adjustment for realized loss on translation adjustment	5,365			—			5,365			(5,365		)	5,365
Translation adjustment attributable to Nabors	(89,760		)	51			(89,709		)	89,658			(89,760		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(10,127		)	—			(10,127		)	10,127			(10,127		)
Less: reclassification adjustment for (gains) losses on marketable securities	—			—			—			—			—
Unrealized gains (losses) on marketable securities	(10,127		)	—			(10,127		)	10,127			(10,127		)
Pension liability amortization and adjustment	828			828			1,656			(2,484		)	828
Unrealized gains (losses) and amortization of cash flow hedges	459			459			459			(918		)	459
Other comprehensive income (loss) before tax	(98,600		)	1,338			(97,721		)	96,383			(98,600		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	485			485			791			(1,276		)	485
Other comprehensive income (loss), net of tax	(99,085		)	853			(98,512		)	97,659			(99,085		)
Comprehensive income (loss) attributable to Nabors	(308,106		)	(130,985		)	(321,184		)	452,169			(308,106		)
Net income (loss) attributable to noncontrolling interest	—			—			(453		)	—			(453		)
Translation adjustment to noncontrolling interest	—			—			(1,194		)	—			(1,194		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			(1,647		)	—			(1,647		)
Comprehensive income (loss)	$	(308,106	)	$	(130,985	)	$	(322,831	)	$	452,169		$	(309,753	)

	Nine Months Ended September 30, 2014
							Other
	Nabors			Nabors			Subsidiaries
	(Parent/			Delaware			(Non-			Consolidating
	Guarantor)			(Issuer)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	220,411		$	13,614		$	352,058		$	(365,672	)	$	220,411
Other comprehensive income (loss) before tax:
Translation adjustment attributable to Nabors	(46,052		)	1,688			(46,062		)	44,374			(46,052		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(34,587		)	156			(34,431		)	34,275			(34,587		)
Less: reclassification adjustment for (gains) losses on marketable securities	(4,636		)	(2,395		)	(7,031		)	9,426			(4,636		)
Unrealized gains (losses) on marketable securities	(39,223		)	(2,239		)	(41,462		)	43,701			(39,223		)
Pension liability amortization and adjustment	369			369			738			(1,107		)	369
Unrealized gains (losses) and amortization of cash flow hedges	459			459			459			(918		)	459
Other comprehensive income (loss) before tax	(84,447		)	277			(86,327		)	86,050			(84,447		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(529		)	(529		)	(1,237		)	1,766			(529		)
Other comprehensive income (loss), net of tax	(83,918		)	806			(85,090		)	84,284			(83,918		)
Comprehensive income (loss) attributable to Nabors	136,493			14,420			266,968			(281,388		)	136,493
Net income (loss) attributable to noncontrolling interest	—			—			1,213			—			1,213
Translation adjustment to noncontrolling interest	—			—			(624		)	—			(624		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			589			—			589
Comprehensive income (loss)	$	136,493		$	14,420		$	267,557		$	(281,388	)	$	137,082

Condensed consolidating statements of cash flows

	Nine Months Ended September 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	$	39,956		$	(188,781	)	$	782,139		$	(28,303	)	$	605,011
Cash flows from investing activities:
Purchase of investments	—			—			(8		)	—			(8		)
Sales and maturities of investments	—			—			859			—			859
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			(1,528		)	—			650,050
Capital expenditures	—			—			(744,047		)	—			(744,047		)
Proceeds from sales of assets and insurance claims	—			—			30,164			—			30,164
Other	—			—			1,700			—			1,700
Changes in intercompany balances	—			67,194			(67,194		)	—			—
Net cash provided by (used for) investing activities	5,500			713,272			(838,408		)	—			(119,636		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			363			—			363
Proceeds from (payments for) issuance of common shares	1,198			—			—			—			1,198
Dividends to shareholders	(59,470		)	—			—			6,981			(52,489		)
Proceeds from short-term borrowings	—			—			2,792			—			2,792
Proceeds from (payments for) commercial paper, net	—			(162,544		)	—			—			(162,544		)
Proceeds from revolving credit facility	—			—			—			—			—
Reduction in revolving credit facility	—			(450,000		)	—			—			(450,000		)
Reduction in long term debt	—			—			—			—			—
Proceeds from term loan facility	—			300,000			—			—			300,000
Payments on term loan facility	—			(300,000		)	—			—			(300,000		)
Purchase of treasury stock	—			—			(44,978		)	—			(44,978		)
Proceeds from issuance of intercompany debt	47,000			88,058			(135,058		)	—			—
Paydown of intercompany debt	(27,000		)	—			27,000			—			—
Payments on Parent (Equity or N/P)	—			—			(21,322		)	21,322			—
Other	(7,534		)	—			—			—			(7,534		)
Net cash (used for) provided by financing activities	(45,806		)	(524,486		)	(171,203		)	28,303			(713,192		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(21,966		)	—			(21,966		)
Net increase (decrease) in cash and cash equivalents	(350		)	5			(249,438		)	—			(249,783		)
Cash and cash equivalents, beginning of period	1,170			7			499,972			—			501,149
Cash and cash equivalents, end of period	$	820		$	12		$	250,534		$	—		$	251,366

	Nine Months Ended September 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	$	(7,632	)	$	(22,760	)	$	1,262,289		$	12,447		$	1,244,344
Cash flows from investing activities:
Purchase of investments	—			—			(319		)	—			(319		)
Sales and maturities of investments	—			—			23,580			—			23,580
Cash paid for acquisition of businesses, net	—			—			(10,200		)	—			(10,200		)
Investment in unconsolidated affiliates	—			—			(2,061		)	—			(2,061		)
Capital expenditures	—			—			(1,344,222		)	—			(1,344,222		)
Proceeds from sales of assets and insurance claims	—			—			129,825			—			129,825
Other	—			—			(3,931		)	—			(3,931		)
Changes in intercompany balances	—			(355,792		)	355,792			—			—
Net cash provided by (used for) investing activities	—			(355,792		)	(851,536		)	—			(1,207,328		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(3,867		)	—			(3,867		)
Proceeds from (payments for) issuance of common shares	30,240			—			—			—			30,240
Dividends to shareholders	(45,758		)	—			—			3,977			(41,781		)
Proceeds from (payments for) commercial paper, net	—			441,530			—			—			441,530
Proceeds from revolving credit facilities	—			—			15,000			—			15,000
Reduction in revolving credit facilities	—			(70,000		)	—			—			(70,000		)
Reduction in long term debt	—			—			(40,098		)	—			(40,098		)
Purchase of preferred stock	—			—			(70,875		)	—			(70,875		)
Purchase of treasury stock	—			—			(250,037		)	—			(250,037		)
Reduction in short-term debt	—			—			(10,000		)	—			(10,000		)
Proceeds from issuance of intercompany debt	35,000			—			(35,000		)	—			—
Paydown of intercompany debt	(19,000		)	—			19,000			—			—
Proceeds from (payments for) issuance of parent common shares to affiliates	16,424			—			—			(16,424		)	—
Other	(7,581		)	—			—			—			(7,581		)
Net cash (used for) provided by financing activities	9,325			371,530			(375,877		)	(12,447		)	(7,469		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(15,009		)	—			(15,009		)
Net increase (decrease) in cash and cash equivalents	1,693			(7,022		)	19,867			—			14,538
Cash and cash equivalents, beginning of period	730			7,029			382,156			—			389,915
Cash and cash equivalents, end of period	$	2,423		$	7		$	402,023		$	—		$	404,453