Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Consolidating Financial Information

Condensed Consolidating Balance Sheets

	December 31, 2015
					Other
	Nabors		Nabors		Subsidiaries
	(Parent/		Delaware		(Non-		Consolidating
	Guarantor)		(Issuer)		Guarantors)		Adjustments			Total
	(In thousands)
	ASSETS
Current assets:
Cash and cash equivalents	$	873	$	10	$	253,647	$	—		$	254,530
Short-term investments	—		—		20,059		—			20,059
Assets held for sale	—		—		75,678		—			75,678
Accounts receivable, net	—		—		784,671		—			784,671
Inventory	—		—		153,824		—			153,824
Deferred income taxes	—		—		—		—			—
Other current assets	50		9,016		178,069		—			187,135
Total current assets	923		9,026		1,465,948		—			1,475,897
Property, plant and equipment, net	—		—		7,027,802		—			7,027,802
Goodwill	—		—		166,659		—			166,659
Intercompany receivables	139,366		11,000		1,260,310		(1,410,676		)	—
Investment in consolidated
affiliates	4,183,362		4,973,327		1,284,225		(10,440,914		)	—
Investment in unconsolidated
affiliates	—		—		415,177		—			415,177
Deferred tax assets	—		366,818		—		(366,818		)	—
Other long-term assets	—		12,907		507,336		(67,938		)	452,305
Total assets	$	4,323,651	$	5,373,078	$	12,127,457	$	(12,286,346	)	$	9,537,840
	LIABILITIES AND EQUITY
Current liabilities:
Current debt	$	—	$	—	6,508		$	—		$	6,508
Trade accounts payable	71		3		271,910		—			271,984
Accrued liabilities	370		64,550		621,693		—			686,613
Income taxes payable	—		—		41,394		—			41,394
Total current liabilities	441		64,553		941,505		—			1,006,499
Long-term debt	—		3,723,138		—		(67,938		)	3,655,200
Other long-term liabilities	—		35,086		517,861		—			552,947
Deferred income taxes	—		—		396,144		(366,818		)	29,326
Intercompany payable	40,500		1,370,176		—		(1,410,676		)	—
Total liabilities	40,941		5,192,953		1,855,510		(1,845,432		)	5,243,972
Shareholders’ equity	4,282,710		180,125		10,260,789		(10,440,914		)	4,282,710
Noncontrolling interest	—		—		11,158		—			11,158
Total equity	4,282,710		180,125		10,271,947		(10,440,914		)	4,293,868
Total liabilities and equity	$	4,323,651	$	5,373,078	$	12,127,457	$	(12,286,346	)	$	9,537,840

	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
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	—		13,279		316,906		(40,440		)	289,745
Total assets	$	4,908,993	$	6,239,076	$	14,588,495	$	(13,873,641	)	$	11,862,923
	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	—		4,372,280		—		(40,440		)	4,331,840
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		5,895,034		3,687,523		(2,638,797		)	6,944,134
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	$	6,239,076	$	14,588,495	$	(13,873,641	)	$	11,862,923

Condensed Consolidating Statements of Income (Loss)

Year Ended December 31, 2015

	Nabors (Parent/ Guarantor)			Nabors Delaware (Issuer/ Guarantor)			Other Subsidiaries (Non- Guarantors)			Consolidating Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	3,864,437		$	—		$	3,864,437
Earnings (losses) from unconsolidated affiliates	—			—			(75,081		)	—			(75,081		)
Earnings (losses) from consolidated affiliates	(351,407		)	(41,826		)	(164,697		)	557,930			—
Investment income (loss)	—			584			11,666			(9,942		)	2,308
Intercompany interest income	—			6,452			—			(6,452		)	—
Total revenues and other income	(351,407		)	(34,790		)	3,636,325			541,536			3,791,664
Costs and other deductions:
Direct costs	—			—			2,371,436			—			2,371,436
General and administrative expenses	8,768			1			316,119			(560		)	324,328
Research and Engineering	—			—			41,253			—			41,253
Depreciation and amortization	—			705			969,754			—			970,459
Interest expense	(1		)	201,364			(19,435		)	—			181,928
Impairments and other charges	—			—			368,967			—			368,967
Other, net	12,469			—			(52,201		)	560			(39,172		)
Intercompany interest expense	32			—			6,420			(6,452		)	—
Total costs and other deductions	21,268			202,070			4,002,313			(6,452		)	4,219,199
Income from continuing operations before income taxes	(372,675		)	(236,860		)	(365,988		)	547,988			(427,535		)
Income tax expense (benefit)	—			(72,163		)	(25,875		)	—			(98,038		)
Income (loss) from continuing operations, net of tax	(372,675		)	(164,697		)	(340,113		)	547,988			(329,497		)
Income (loss) from discontinued operations, net of tax	—			—			(42,797		)	—			(42,797		)
Net income (loss)	(372,675		)	(164,697		)	(382,910		)	547,988			(372,294		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			(381		)	—			(381		)
Net income (loss) attributable to Nabors	$	(372,675	)	$	(164,697	)	$	(383,291	)	$	547,988		$	(372,675	)

Year Ended December 31, 2014

				Nabors			Other
	Nabors			Delaware			Subsidiaries
	(Parent/			(Issuer/			(Non-			Consolidating
	Guarantor)			Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—		$	—		$	6,804,197		$	—		$	6,804,197
Earnings (losses) from unconsolidated affiliates	—			—			(6,301		)	—			(6,301		)
Earnings (losses) from consolidated affiliates	(653,124		)	(120,996		)	(250,365		)	1,024,485			—
Investment income (loss)	—			1,869			16,265			(6,303		)	11,831
Intercompany interest income	—			2,415			336			(2,751		)	—
Total revenues and other income	(653,124		)	(116,712		)	6,564,132			1,015,431			6,809,727
Costs and other deductions:
Direct costs	—			—			4,505,064			—			4,505,064
General and administrative expenses	9,531			8,001			483,091			(587		)	500,036
Research and engineering	—			—			49,698			—			49,698
Depreciation and amortization	—			3,608			1,141,492			—			1,145,100
Interest expense	—			198,246			(20,298		)	—			177,948
Impairments and other charges	—			—			1,027,423			—			1,027,423
Other, net	7,668			(223		)	1,041			587			9,073
Intercompany interest expense	336			—			2,415			(2,751		)	—
Total costs and other deductions	17,535			209,632			7,189,926			(2,751		)	7,414,342
Income from continuing operations before income taxes	(670,659		)	(326,344		)	(625,794		)	1,018,182			(604,615		)
Income tax expense (benefit)	—			(75,979		)	138,645			—			62,666
Subsidiary preferred stock dividend	—			—			1,984			—			1,984
Income (loss) from continuing operations, net of tax	(670,659		)	(250,365		)	(766,423		)	1,018,182			(669,265		)
Income (loss) from discontinued operations, net of tax	—			—			21			—			21
Net income (loss)	(670,659		)	(250,365		)	(766,402		)	1,018,182			(669,244		)
Less: Net (income) loss attributable to noncontrolling interest	—			—			(1,415		)	—			(1,415		)
Net income (loss) attributable to Nabors	$	(670,659	)	$	(250,365	)	$	(767,817	)	$	1,018,182		$	(670,659	)

Year Ended December 31, 2013

			Nabors			Other
	Nabors		Delaware			Subsidiaries
	(Parent/		(Issuer/			(Non-			Consolidating
	Guarantor)		Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Revenues and other income:
Operating revenues	$	—	$	—		$	6,152,015		$	—		$	6,152,015
Earnings (losses) from unconsolidated affiliates	—		—			39			—			39
Earnings (losses) from consolidated affiliates	158,445		191,821			(92,137		)	(258,129		)	—
Investment income (loss)	1		75			101,047			(4,546		)	96,577
Intercompany interest income	—		92			—			(92		)	—
Total revenues and other income	158,446		191,988			6,160,964			(262,767		)	6,248,631
Costs and other deductions:
Direct costs	—		—			3,981,828			—			3,981,828
General and administrative expenses	11,111		796			468,560			(577		)	479,890
Research and engineering	—		—			45,440			—			45,440
Depreciation and amortization	—		3,610			1,083,067			—			1,086,677
Interest expense	—		234,512			(11,094		)	—			223,418
Impairments and other charges	—		—			287,241			—			287,241
Other, net	7,353		211,976			(181,929		)	577			37,977
Intercompany interest expense	—		—			92			(92		)	—
Total costs and other deductions	18,464		450,894			5,673,205			(92		)	6,142,471
Income from continuing operations before income taxes	139,982		(258,906		)	487,759			(262,675		)	106,160
Income tax expense (benefit)	—		(166,769		)	111,588			—			(55,181		)
Subsidiary preferred stock dividend	—		—			3,000			—			3,000
Income (loss) from continuing operations, net of tax	139,982		(92,137		)	373,171			(262,675		)	158,341
Income (loss) from discontinued operations, net of tax	—		—			(11,179		)	—			(11,179		)
Net (income) loss	139,982		(92,137		)	361,992			(262,675		)	147,162
Less: Net (income) loss attributable to noncontrolling interest	—		—			(7,180		)	—			(7,180		)
Net income (loss) attributable to Nabors	$	139,982	$	(92,137	)	$	354,812		$	(262,675	)	$	139,982

Condensed Consolidating Statements of Comprehensive Income (Loss)

Year Ended December 31, 2015 

				Nabors			Other
	Nabors			Delaware			Subsidiaries
	(Parent/			(Issuer/			(Non-			Consolidating
	Guarantor)			Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(372,675	)	$	(164,697	)	$	(383,291	)	$	547,988		$	(372,675	)
Other comprehensive income (loss) before tax
Translation adjustment attributable to Nabors:
Unrealized loss on translation adjustment	(116,239		)	67			(116,172		)	116,105			(116,239		)
Less: reclassification adjustment for realized loss on translation adjustment	5,365			—			5,365			(5,365		)	5,365
Translation adjustment attributable to Nabors	(110,874		)	67			(110,807		)	110,740			(110,874		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(15,310		)	—			(15,310		)	15,310			(15,310		)
Less: reclassification adjustment for (gains) losses included in net income (loss)	—			—			—			—			—
Unrealized gains (losses) on marketable securities	(15,310		)	—			(15,310		)	15,310			(15,310		)
Pension liability amortization and adjustment	1,104			1,104			2,208			(3,312		)	1,104
Unrealized gains (losses) and amortization on cash flow hedges	613			613			613			(1,226		)	613
Other comprehensive income (loss) before tax	(124,467		)	1,784			(123,296		)	121,512			(124,467		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	648			648			1,056			(1,704		)	648
Other comprehensive income (loss), net of tax	(125,115		)	1,136			(124,352		)	123,216			(125,115		)
Comprehensive income (loss) attributable to Nabors	(497,790		)	(163,561		)	(507,643		)	671,204			(497,790		)
Net income (loss) attributable to noncontrolling interest	—			—			381			—			381
Translation adjustment attributable to noncontrolling interest	—			—			(1,461		)	—			(1,461		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			(1,080		)	—			(1,080		)
Comprehensive income (loss)	$	(497,790	)	$	(163,561	)	$	(508,723	)	$	671,204		$	(498,870	)

Year Ended December 31, 2014

				Nabors			Other
	Nabors			Delaware			Subsidiaries
	(Parent/			(Issuer/			(Non-			Consolidating
	Guarantor)			Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	(670,659	)	$	(250,365	)	$	(767,817	)	$	1,018,182		$	(670,659	)
Other comprehensive income (loss) before tax
Translation adjustment attributable to Nabors	(79,059		)	1,583			(79,174		)	77,591			(79,059		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	(59,932		)	156			(59,776		)	59,620			(59,932		)
Less: reclassification adjustment for (gains) losses included in net income (loss)	2,337			(2,395		)	(58		)	2,453			2,337
Unrealized gains (losses) on marketable securities	(57,595		)	(2,239		)	(59,834		)	62,073			(57,595		)
Pension liability amortization and adjustment	(5,050		)	(5,050		)	(10,100		)	15,150			(5,050		)
Unrealized gains (losses) and amortization on cash flow hedges	612			612			612			(1,224		)	612
Other comprehensive income (loss) before tax	(141,092		)	(5,094		)	(148,496		)	153,590			(141,092		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(2,474		)	(2,474		)	(5,187		)	7,661			(2,474		)
Other comprehensive income (loss), net of tax	(138,618		)	(2,620		)	(143,309		)	145,929			(138,618		)
Comprehensive income (loss) attributable to Nabors	(809,277		)	(252,985		)	(911,126		)	1,164,111			(809,277		)
Net income (loss) attributable to noncontrolling interest	—			—			1,415			—			1,415
Translation adjustment attributable to noncontrolling interest	—			—			(1,017		)	—			(1,017		)
Comprehensive income (loss) attributable to noncontrolling interest	—			—			398			—			398
Comprehensive income (loss)	$	(809,277	)	$	(252,985	)	$	(910,728	)	$	1,164,111		$	(808,879	)

Year Ended December 31, 2013

				Nabors			Other
	Nabors			Delaware			Subsidiaries
	(Parent/			(Issuer/			(Non-			Consolidating
	Guarantor)			Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Net income (loss) attributable to Nabors	$	139,982		$	(92,137	)	$	354,812		$	(262,675	)	$	139,982
Other comprehensive income (loss) before tax
Translation adjustment attributable to Nabors	(65,447		)	87			(65,357		)	65,270			(65,447		)
Unrealized gains (losses) on marketable securities:
Unrealized gains (losses) on marketable securities	23,007			98			23,105			(23,203		)	23,007
Less: reclassification adjustment for (gains) losses included in net income (loss)	(88,158		)	(7,114		)	(95,272		)	102,386			(88,158		)
Unrealized gains (losses) on marketable securities	(65,151		)	(7,016		)	(72,167		)	79,183			(65,151		)
Pension liability amortization and adjustment	5,916			5,916			11,832			(17,748		)	5,916
Unrealized gains (losses) and amortization on cash flow hedges	613			613			613			(1,226		)	613
Other comprehensive income (loss) before tax	(124,069		)	(400		)	(125,079		)	125,479			(124,069		)
Income tax expense (benefit) related to items of other comprehensive income (loss)	(66		)	(66		)	(370		)	436			(66		)
Other comprehensive income (loss), net of tax	(124,003		)	(334		)	(124,709		)	125,043			(124,003		)
Comprehensive income (loss) attributable to Nabors	15,979			(92,471		)	230,103			(137,632		)	15,979
Net income (loss) attributable to noncontrolling interest	7,180			—			7,180			(7,180		)	7,180
Translation adjustment attributable to noncontrolling interest	(932		)	—			(932		)	932			(932		)
Comprehensive income (loss) attributable to noncontrolling interest	6,248			—			6,248			(6,248		)	6,248
Comprehensive income (loss)	$	22,227		$	(92,471	)	$	236,351		$	(143,880	)	$	22,227

Condensed Consolidating Statements of Cash Flows

Year Ended December 31, 2015

				Nabors			Other
	Nabors			Delaware			Subsidiaries
	(Parent/			(Issuer/			(Non-			Consolidating
	Guarantor)			Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	39,478		$	(217,685	)	$	1,066,026		$	(31,263	)	$	856,556
Cash flows from investing activities:
Purchases of investments	—			—			(9		)	—			(9		)
Sales and maturities of investments	—			—			961			—			961
Cash paid for acquisitions of businesses, net	—			—			(80,187		)	—			(80,187		)
Investments in unconsolidated affiliates	—			—			(445		)	—			(445		)
Capital expenditures	—			—			(867,106		)	—			(867,106		)
Proceeds from sales of assets and insurance claims	—			—			68,206			—			68,206
Proceeds from merger transaction	5,500			646,078			(1,528		)				650,050
Change in intercompany balances	—			135,518			(135,518		)	—			—
Other Changes in Investing	—			—			1,081			—			1,081
Net cash provided by (used for) investing activities	5,500			781,596			(1,014,545		)	—			(227,449		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			645			—			645
Debt issuance costs	—			(1,847		)	—			—			(1,847		)
Reduction in revolving credit facilities	—			(450,000		)	—			—			(450,000		)
Proceeds from (payments for) issuance of common shares	1,296			—			—			—			1,296
Repurchase of common shares	—			—			(99,598		)	—			(99,598		)
Reduction in long-term debt	—			—			(27,478		)	—			(27,478		)
Dividends to shareholders	(79,304		)	—			—			9,941			(69,363		)
Proceeds from (payment for) commercial paper, net	—			(525,119		)	—			—			(525,119		)
Proceeds from term loan	—			625,000			—			—			625,000
Payments on term loan	—			(300,000		)	—			—			(300,000		)
Cash proceeds from noncontrolling Interest	—						3,972			—			3,972
Proceeds (issuance) of intercompany debt	67,500			88,058			(155,558		)	—			—
Paydown of intercompany debt	(27,000		)	—			27,000			—			—
Payments on parent (Equity or N/P)	—			—			(21,322		)	21,322			—
Other Changes	(7,767		)	—			318			—			(7,449		)
Net cash (used for) provided by financing activities	(45,275		)	(563,908		)	(272,021		)	31,263			(849,941		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(25,785		)	—			(25,785		)
Net increase (decrease) in cash and cash equivalents	(297		)	3			(246,325		)	—			(246,619		)
Cash and cash equivalents, beginning of period	1,170			7			499,972			—			501,149
Cash and cash equivalents, end of period	$	873		$	10		$	253,647		$	—		$	254,530

Year Ended December 31, 2014

				Nabors			Other
	Nabors			Delaware			Subsidiaries
	(Parent/			(Issuer/			(Non-			Consolidating
	Guarantor)			Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	26,943		$	(71,982	)	$	1,816,831		$	10,119		$	1,781,911
Cash flows from investing activities:
Purchases of investments	—			—			(319		)	—			(319		)
Sales and maturities of investments	—			—			23,992			—			23,992
Proceeds from sales of assets and insurance claims	—			—			156,761			—			156,761
Cash paid for acquisitions of businesses, net	—			—			(72,534		)	—			(72,534		)
Proceeds from sale of unconsolidated affiliate	—			—			750			—			750
Other Changes in Investing	—			—			(1,879		)	—			(1,879		)
Investments in unconsolidated affiliates	—			—			(2,365		)	—			(2,365		)
Change in intercompany balances	—			(418,315		)	418,315			—			—
Capital expenditures	—			—			(1,821,315		)	—			(1,821,315		)
Net cash provided by (used for) investing activities	—			(418,315		)	(1,298,594		)	—			(1,716,909		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(6,151		)	—			(6,151		)
Proceeds from revolving credit facilities	—			450,000			15,000			—			465,000
Reduction in revolving credit facilities	—			(170,000		)	(60,932		)	—			(230,932		)
Proceeds (reductions) in commercial paper	—			203,275			—			—			203,275
Redemption of subsidiary Preferred Shares	—			—			(70,875		)	—			(70,875		)
Proceeds from (payments for) issuance of parent common shares to affiliates	16,424			—			—			(16,424		)	—
Treasury stock transactions, net	—			—			(250,037		)	—			(250,037		)
Proceeds from issuance of Parent common shares	30,263			—			—			—			30,263
Proceeds (Issuance) of Intercompany Debt	55,000			—			(55,000		)	—			—
Paydown of Intercompany Debt	(55,000		)	—			55,000			—			—
Cash dividends paid	(65,450		)	—			—			6,305			(59,145		)
Other Changes	(7,740		)	—			(3,810		)	—			(11,550		)
Net cash (used for) provided by financing activities	(26,503		)	483,275			(376,805		)	(10,119		)	69,848
Effect of exchange rate changes on cash and cash equivalents	—			—			(23,616		)	—			(23,616		)
Net increase (decrease) in cash and cash equivalents	440			(7,022		)	117,816			—			111,234
Cash and cash equivalents, beginning of period	730			7,029			382,156			—			389,915
Cash and cash equivalents, end of period	$	1,170		$	7		$	499,972		$	—		$	501,149

Year Ended December 31, 2013

				Nabors			Other
	Nabors			Delaware			Subsidiaries
	(Parent/			(Issuer/			(Non-			Consolidating
	Guarantor)			Guarantor)			Guarantors)			Adjustments			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	16,746		$	(157,952	)	$	1,531,902		$	27,527		$	1,418,223
Cash flows from investing activities:
Purchases of investments	—			—			—			—			—
Sales and maturities of investments	—			—			164,510			—			164,510
Proceeds from sale of unconsolidated affiliates	—			—			12,640			—			12,640
Cash paid for acquisition of businesses, net	—			—			(116,971		)	—			(116,971		)
Investment in unconsolidated affiliates	—			—			(5,967		)	—			(5,967		)
Capital expenditures	—			—			(1,178,205		)	—			(1,178,205		)
Proceeds from sales of assets and insurance claims	—			—			308,538			—			308,538
Cash paid for investments in consolidated affiliates	(100		)	(772,000		)	(1,544,000		)	2,316,100			—
Other	—			—			(13		)	—			(13		)
Changes in intercompany balances	—			748,537			(748,537		)	—			—
Net cash provided by (used for) investing activities	(100		)	(23,463		)	(3,108,005		)	2,316,100			(815,468		)
Cash flows from financing activities:
Increase (decrease) in cash overdrafts	—			—			(4,421		)	—			(4,421		)
Proceeds from issuance of long-term debt	—			698,434			319			—			698,753
Debt issuance costs	—			(4,500		)	—			—			(4,500		)
Proceeds from (payments for) issuance of common shares	37,455			—			—			(32,072		)	5,383
Reduction in long-term debt	—			(994,112		)	(69		)	—			(994,181		)
Dividends to shareholders	(51,713		)	—			—			4,545			(47,168		)
Proceeds (reductions) in commercial paper, net	—			329,844			—			—			329,844
Reduction in revolving credit facilities	—			(720,000		)	—			—			(720,000		)
Proceeds from parent contributions	—			772,000			1,544,100			(2,316,100		)	—
Other	(3,296		)	—			10,000			—			6,704
Net cash (used for) provided by financing activities	(17,554		)	81,666			1,549,929			(2,343,627		)	(729,586		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(8,176		)	—			(8,176		)
Net increase (decrease) in cash and cash equivalents	(908		)	(99,749		)	(34,350		)	—			(135,007		)
Cash and cash equivalents, beginning of period	1,639			106,778			416,505			—			524,922
Cash and cash equivalents, end of period	$	731		$	7,029		$	382,155		$	—		$	389,915