XML 58 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net earnings $ 256,299 $ 212,619 $ 185,492
Adjustments to reconcile net earnings to net cash provided by operations:      
Depreciation and amortization 164,437 145,147 126,029
Provision (credit) for doubtful accounts 1,260 (42) 266
Provision for deferred income taxes 103,056 77,005 70,004
Loss (gain) on disposition of assets (888) 14 40
Equity in earnings of affiliates, net of distributions and contributions (348) 1,874 (347)
Amortization of unearned share-based compensation 11,621 9,796 9,228
Other 9,029 3,924 901
Increase (decrease) in cash flows resulting from changes in:      
Accounts receivable 2,235 (8,744) (58,351)
Inventory 43,275 (46,372) (26,355)
Other assets (47,526) (5,180) (7,247)
Income taxes payable 313 (4,347) 3,026
Accounts payable 23,088 (10,484) 21,492
Accrued and other liabilities 35,181 (49,480) (12,183)
Net cash provided by operating activities 601,032 325,730 311,995
Cash flows from investing activities:      
Capital expenditures (253,227) (312,167) (226,238)
Acquisitions of businesses and marine equipment, net of cash acquired (3,643) (380,925) (859,512)
Proceeds from disposition of assets 33,982 19,651 11,821
Retirement of interest rate swaps assumed in acquisition 0 0 (14,803)
Net cash used in investing activities (222,888) (673,441) (1,088,732)
Cash flows from financing activities:      
Borrowings (payments) on bank credit facilities, net (150,960) 97,110 95,000
Borrowings on long-term debt 225,000 275,000 531,646
Payments on long-term debt, net (460,000) (39,005) (33,128)
Return of investment to noncontrolling interests (3,857) (2,728) (2,115)
Proceeds from noncontrolling interest investments 0 0 268
Proceeds from exercise of stock options 6,635 8,932 4,367
Payment of contingent liability (5,000) 0 0
Excess tax benefit from equity compensation plans 3,001 3,212 1,348
Net cash provided by (used in) financing activities (385,181) 342,521 597,386
Decrease in cash and cash equivalents (7,037) (5,190) (179,351)
Cash and cash equivalents, beginning of year 11,059 16,249 195,600
Cash and cash equivalents, end of year 4,022 11,059 16,249
Cash paid during the year:      
Interest 21,393 21,364 16,455
Income taxes 46,136 52,105 34,926
Noncash investing activity:      
Stock issued in acquisitions 0 29,080 113,019
Cash acquired in acquisitions 0 2,301 4,044
Disposition of assets for receivables $ 0 $ 0 $ 682