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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows — Operating activities:      
Net earnings, including noncontrolling interests $ 524,885us-gaap_ProfitLoss $ 488,320us-gaap_ProfitLoss $ 450,799us-gaap_ProfitLoss
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 93,307us-gaap_Depreciation 90,695us-gaap_Depreciation 88,572us-gaap_Depreciation
Amortization of intangible and other assets 16,970us-gaap_AdjustmentForAmortization 15,697us-gaap_AdjustmentForAmortization 18,654us-gaap_AdjustmentForAmortization
Net loss (gain) on the disposition of assets 1,094us-gaap_GainLossOnSaleOfPropertyPlantEquipment 956us-gaap_GainLossOnSaleOfPropertyPlantEquipment (10,521)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Gain on sale of business (13,403)us-gaap_GainLossOnSaleOfInvestments 0us-gaap_GainLossOnSaleOfInvestments 0us-gaap_GainLossOnSaleOfInvestments
Gain on sale of equity investment in affiliate 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal (12,995)us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal
Gain on remeasurement of acquired assets 0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain (15,315)us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain 0us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
Excess tax benefits from stock-based payment arrangements (8,587)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (10,111)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (11,207)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Stock-based compensation 42,675us-gaap_ShareBasedCompensation 35,757us-gaap_ShareBasedCompensation 35,403us-gaap_ShareBasedCompensation
Foreign currency and other non-cash adjustments 38,533us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (2,418)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (13,605)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax
Change in assets and liabilities, net of acquisitions:      
Accounts receivable, net (79,655)us-gaap_IncreaseDecreaseInAccountsReceivable (53,823)us-gaap_IncreaseDecreaseInAccountsReceivable (35,074)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories, net (35,519)us-gaap_IncreaseDecreaseInInventories 28,616us-gaap_IncreaseDecreaseInInventories (72,706)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other (9,371)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (6,824)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (4,863)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other assets, net (24,509)us-gaap_IncreaseDecreaseInOtherOperatingAssets (18,002)us-gaap_IncreaseDecreaseInOtherOperatingAssets 2,393us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable 50,752us-gaap_IncreaseDecreaseInAccountsPayable (15,642)us-gaap_IncreaseDecreaseInAccountsPayable 24,542us-gaap_IncreaseDecreaseInAccountsPayable
Accrued liabilities and income taxes payable (22,669)fls_IncreaseDecreaseInAccruedLiabilitiesAndIncomeTaxesPayable (65,702)fls_IncreaseDecreaseInAccruedLiabilitiesAndIncomeTaxesPayable 90,773fls_IncreaseDecreaseInAccruedLiabilitiesAndIncomeTaxesPayable
Retirement obligations and other liabilities (7,905)fls_IncreaseDecreaseInRetirementObligationsAndOtherLiabilities (3,145)fls_IncreaseDecreaseInRetirementObligationsAndOtherLiabilities (21,553)fls_IncreaseDecreaseInRetirementObligationsAndOtherLiabilities
Net deferred taxes 4,364us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 31,695us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (24,477)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Net cash flows provided by operating activities 570,962us-gaap_NetCashProvidedByUsedInOperatingActivities 487,759us-gaap_NetCashProvidedByUsedInOperatingActivities 517,130us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows — Investing activities:      
Capital expenditures (132,619)us-gaap_PaymentsToAcquireProductiveAssets (139,090)us-gaap_PaymentsToAcquireProductiveAssets (135,539)us-gaap_PaymentsToAcquireProductiveAssets
Payments for acquisitions, net of cash acquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (76,801)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (3,996)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Proceeds from disposal of assets 1,731us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,653us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 16,933us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds from sale of business, net of cash divested 46,805us-gaap_ProceedsFromDivestitureOfBusinesses 0us-gaap_ProceedsFromDivestitureOfBusinesses 0us-gaap_ProceedsFromDivestitureOfBusinesses
Proceeds from (contributions to) equity investments in affiliates 0fls_AffiliateInvestingActivityNet 46,240fls_AffiliateInvestingActivityNet (3,825)fls_AffiliateInvestingActivityNet
Net cash flows used by investing activities (84,083)us-gaap_NetCashProvidedByUsedInInvestingActivities (167,998)us-gaap_NetCashProvidedByUsedInInvestingActivities (126,427)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows — Financing activities:      
Excess tax benefits from stock-based payment arrangements 8,587us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 10,111us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 11,207us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Payments on long-term debt (40,000)us-gaap_RepaymentsOfLongTermDebt (25,000)us-gaap_RepaymentsOfLongTermDebt (480,000)us-gaap_RepaymentsOfLongTermDebt
Proceeds from issuance of senior notes 0us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt 298,596us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt 498,075us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
Proceeds from issuance of long-term debt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt 400,000us-gaap_ProceedsFromIssuanceOfLongTermDebt
Payments of deferred loan costs 0us-gaap_PaymentsOfFinancingCosts (3,744)us-gaap_PaymentsOfFinancingCosts (9,901)us-gaap_PaymentsOfFinancingCosts
Proceeds under other financing arrangements 18,483us-gaap_ProceedsFromOtherDebt 10,674us-gaap_ProceedsFromOtherDebt 15,886us-gaap_ProceedsFromOtherDebt
Payments under other financing arrangements (20,502)us-gaap_RepaymentsOfOtherDebt (11,075)us-gaap_RepaymentsOfOtherDebt (10,079)us-gaap_RepaymentsOfOtherDebt
Repurchases of common shares (246,504)us-gaap_PaymentsForRepurchaseOfCommonStock (458,310)us-gaap_PaymentsForRepurchaseOfCommonStock (771,942)us-gaap_PaymentsForRepurchaseOfCommonStock
Payments of dividends (85,118)us-gaap_PaymentsOfDividends (76,897)us-gaap_PaymentsOfDividends (73,765)us-gaap_PaymentsOfDividends
Other (2,604)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (179)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (8,403)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash flows used by financing activities (367,658)us-gaap_NetCashProvidedByUsedInFinancingActivities (255,824)us-gaap_NetCashProvidedByUsedInFinancingActivities (428,922)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash (32,675)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (4,385)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 5,115us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net change in cash and cash equivalents 86,546us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 59,552us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (33,104)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 363,804us-gaap_CashAndCashEquivalentsAtCarryingValue 304,252us-gaap_CashAndCashEquivalentsAtCarryingValue 337,356us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year 450,350us-gaap_CashAndCashEquivalentsAtCarryingValue 363,804us-gaap_CashAndCashEquivalentsAtCarryingValue 304,252us-gaap_CashAndCashEquivalentsAtCarryingValue
Income taxes paid (net of refunds) 159,520us-gaap_IncomeTaxesPaidNet 195,532us-gaap_IncomeTaxesPaidNet 158,433us-gaap_IncomeTaxesPaidNet
Interest paid $ 58,269us-gaap_InterestPaid $ 49,618us-gaap_InterestPaid $ 34,173us-gaap_InterestPaid