XML 57 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net earnings $ 212,619 $ 185,492 $ 117,382
Adjustments to reconcile net earnings to net cash provided by operations:      
Depreciation and amortization 145,147 126,029 95,296
Provision (credit) for doubtful accounts (42) 266 (15)
Provision for deferred income taxes 77,005 70,004 34,439
Loss on disposition of assets 14 40 78
Equity in earnings of affiliates, net of distributions and contributions 1,874 (347) (283)
Amortization of unearned share-based compensation 9,796 9,228 10,867
Other 3,924 901 0
Increase (decrease) in cash flows resulting from changes in:      
Accounts receivable (8,744) (58,351) (17,563)
Inventory (46,372) (26,355) 973
Other assets (5,180) (7,247) (2,511)
Income taxes payable (4,347) 3,026 (13,284)
Accounts payable (10,484) 21,492 19,262
Accrued and other liabilities (49,480) (12,183) 605
Net cash provided by operating activities 325,730 311,995 245,246
Cash flows from investing activities:      
Capital expenditures (312,167) (226,238) (136,841)
Acquisitions of businesses and marine equipment, net of cash acquired (380,925) (859,512) 0
Proceeds from disposition of assets 19,651 11,821 9,725
Retirement of interest rate swaps assumed in acquisition 0 (14,803) 0
Net cash used in investing activities (673,441) (1,088,732) (127,116)
Cash flows from financing activities:      
Borrowings on long-term debt 275,000 531,646 0
Borrowings on bank credit facilities, net 97,110 95,000 0
Payments on long-term debt, net (39,005) (33,128) (105)
Return of investment to noncontrolling interests (2,728) (2,115) (1,794)
Proceeds from noncontrolling interest investments 0 268 69
Proceeds from exercise of stock options 8,932 4,367 4,884
Purchase of treasury stock 0 0 (23,793)
Excess tax benefit from equity compensation plans 3,212 1,348 373
Net cash provided by (used in) financing activities 342,521 597,386 (20,366)
Increase (decrease) in cash and cash equivalents (5,190) (179,351) 97,764
Cash and cash equivalents, beginning of year 16,249 195,600 97,836
Cash and cash equivalents, end of year 11,059 16,249 195,600
Cash paid during the year:      
Interest 21,364 16,455 10,604
Income taxes 52,105 34,926 50,743
Noncash investing activity:      
Stock issued in acquisitions 29,080 113,019 0
Cash acquired in acquisitions 2,301 4,044 0
Disposition of assets for receivables $ 0 $ 682 $ 1,569