XML 32 R9.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 PROVIDED BY OPERATIONS:      
Net income $ 252,576 $ 180,602 $ 736,841
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 271,008 247,900 204,872
Provision for pension and postretirement benefits 32,010 39,484 20,115
Share-based compensation expense 33,931 24,808 22,088
Postretirement benefit claims paid (3,470) (3,811) (2,926)
Gain on disposals of property, plant and equipment (20,119) (2,502) (4,100)
Deferred income taxes (33,559) (4,649) (21,492)
Contributions to pension plans (18,860) (42,055) (53,394)
Gain on sale of land drilling operations 0 0 (212,891)
Gain on sale of manufacturing operations 0 0 (670,614)
Write-off of deferred debt issuance costs 0 690 0
Material charges 4,453 12,038 8,000
Changes in current assets and liabilities:      
Receivables - trade and other 30,784 (105,762) 22,825
Inventories 0 0 (104,468)
Prepaid expenses and other current assets 9,583 (9,879) 303
Accounts payable 32,373 (8,608) 44,784
Accrued income taxes (17,714) 16,210 (6,097)
Deferred revenues 2,175 16,120 41,428
Billings in excess of costs and estimated profits on uncompleted contracts 0 0 29,493
Other current liabilities (12,441) 17,873 10,263
Net changes in other noncurrent assets and liabilities 60,446 15,250 29,649
Net cash provided by operations 623,176 393,709 94,679
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:      
Capital expenditures (607,311) (685,256) (1,517,674)
Proceeds from sale of manufacturing operations, net 0 0 1,041,861
Proceeds from sale of land drilling operations, net 0 0 513,619
Decrease in restricted cash 0 0 15,265
Proceeds from disposals of property, plant and equipment 44,550 10,500 5,734
Net cash provided by (used in) investing activities (562,761) (674,756) 58,805
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from borrowings 0 1,104,929 0
Debt issue costs 0 (2,026) 0
Repayments of borrowings 0 (238,453) (52,166)
Proceeds from exercise of share options 2,911 588 19,941
Excess tax benefits from share-based compensation 3,690 1,164 5,128
Payments to acquire treasury shares 0 0 (125,013)
Other 1,820 0 0
Net cash provided by (used in) financing activities 8,421 866,202 (152,110)
INCREASE IN CASH AND CASH EQUIVALENTS 68,836 585,155 1,374
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 1,024,008 438,853 437,479
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 1,092,844 $ 1,024,008 $ 438,853