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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash Flows from Operating Activities        
Net (loss) income $ (51.9) $ (38.2) $ 517.8  
Loss from discontinued operations, net of tax 50.9 131.5 157.8  
(Loss) income from continuing operations (1.0) [1],[2] 93.3 675.6  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Depreciation 164.8 161.8 173.3  
Amortization 59.8 50.7 47.8  
Provision for doubtful accounts 239.3 250.9 247.0  
Provision for obsolescence 117.1 118.8 128.1  
Share-based compensation 43.3 41.1 36.6  
Foreign exchange losses (gains) 26.3 (22.4) 12.6  
Deferred income taxes (128.6) 27.9 (104.2)  
Impairment of goodwill, intangible assets and SMT capitalized software 159.3 44.0 0  
Charge for Venezuelan monetary assets and liabilities 34.1 0 0  
Other 28.2 57.7 51.0  
Changes in assets and liabilities:        
Accounts receivable (235.3) (240.9) (241.1)  
Inventories (78.5) (85.0) (203.9)  
Prepaid expenses and other 77.7 59.1 24.4  
Accounts payable and accrued liabilities 140.1 82.6 (59.9)  
Income and other taxes 3.4 (23.3) (51.6)  
Noncurrent assets and liabilities (110.4) (72.3) (107.6)  
Net cash provided by operating activities of continuing operations 539.6 544.0 628.1  
Cash Flows from Investing Activities        
Capital expenditures (197.3) (228.5) (276.4) (276.4)
Disposal of assets 37.8 15.4 17.1  
Acquisitions and other investing activities 0 0 13.0  
Proceeds from sale of investments 14.3 1.2 33.7  
Purchases of investments (28.2) (1.5) (28.8)  
Net cash used by investing activities of continuing operations (173.4) (213.4) (267.4)  
Cash Flows from Financing Activities        
Cash dividends (106.8) [3] (329.3) [3] (403.4) [3]  
Debt, net (maturities of three months or less) (1.2) [3] (710.5) [3] 635.7 [3]  
Proceeds from debt 1,488.2 [3] 735.8 [3] 88.9 [3]  
Repayment of debt (1,942.7) [3] (138.3) [3] (614.6) [3]  
Interest rate swap termination 88.1 [3] 43.6 [3] 0 [3]  
Proceeds from exercise of stock options 19.4 [3] 8.6 [3] 16.8 [3]  
Excess tax benefit realized from share-based compensation (3.5) [3] (2.4) [3] (0.2) [3]  
Repurchase of common stock (9.4) [3] (8.8) [3] (7.7) [3]  
Net cash used by financing activities of continuing operations (467.9) [3] (401.3) [3] (284.5) [3]  
Cash Flows from Discontinued Operations        
Net cash (used) provided by operating activities of discontinued operations (4.0) 12.1 27.7  
Net cash provided (used) by investing activities of discontinued operations 84.8 (0.3) (1.5)  
Net Cash provided by Discontinued Operations 80.8 11.8 26.2  
Effect of exchange rate changes on cash and equivalents (80.8) 23.4 (37.2)  
Net decrease in cash and equivalents (101.7) (35.5) 65.2  
Cash and equivalents at beginning of year 1,209.6 [4],[5] 1,245.1 [4],[5] 1,179.9 [4]  
Cash and equivalents at end of year 1,107.9 [5] 1,209.6 [4],[5] 1,245.1 [4],[5] 1,179.9 [4]
Cash paid for:        
Interest, net of amounts capitalized 224.4 137.5 137.4  
Income taxes, net of refunds received $ 296.8 $ 331.9 $ 423.8  
[1] (Loss) income from continuing operations, net of tax during 2013 was impacted by valuation allowances for deferred tax assets of $41.8 related to Venezuela in the fourth quarter of 2013 and $9.2 related to the China business in the third quarter of 2013, and during 2012 was impacted by an additional provision for income taxes of $168.3. During the fourth quarter of 2012, we determined that the Company may repatriate offshore cash to meet certain domestic funding needs. Accordingly, we are no longer asserting that the undistributed earnings of foreign subsidiaries are indefinitely reinvested.
[2] In addition to the items impacting operating profit (loss) above, income (loss) from continuing operations, before taxes during 2013 was impacted by a one-time, after-tax loss of $50.7 ($34.1 in other expense, net and $16.6 in income taxes) recorded in the first quarter, primarily reflecting the write-down of monetary assets and liabilities and deferred tax benefits due to the devaluation of Venezuelan currency. Income (loss) from continuing operations, before taxes during 2013 was also impacted by a loss on extinguishment of debt of $73.0 before tax in the first quarter of 2013 caused by the make-whole premium and the write-off of debt issuance costs associated with the prepayment of our Private Notes (as defined in Note 5, Debt and Other Financing), as well as the write-off of debt issuance costs associated with the early repayment of $380.0 of the outstanding principal amount of the term loan agreement (as defined in Note 5, Debt and Other Financing). In addition, income (loss) from continuing operations, before taxes during 2013 was impacted by a loss on extinguishment of debt of $13.0 before tax in the second quarter of 2013 caused by the make-whole premium and the write-off of debt issuance costs and discounts, partially offset by a deferred gain associated with the January 2013 interest-rate swap agreement termination, associated with the prepayment of the 2014 Notes (as defined in Note 5, Debt and Other Financing).In addition, income (loss) from continuing operations, before taxes during 2012 was impacted by a benefit of $23.8 to other expense, net in 2012 due to the release of a provision in the fourth quarter associated with the excess cost of acquiring U.S. dollars in Venezuela at the regulated market rate as compared with the official exchange rate. This provision was released as the Company capitalized the associated intercompany liabilities.
[3] Non-cash financing activities included the change in fair market value of interest-rate swap agreements of $(.7) in 2013, $(8.4) in 2012 and $53.2 in 2011 (see Note 8, Financial Instruments and Risk Management).
[4] Includes cash and cash equivalents of discontinued operations of $2.7, $6.9 and $14.8 at the beginning of the year in 2013, 2012 and 2011, respectively.
[5] Includes cash and cash equivalents of discontinued operations of $2.7 and $6.9 at the end of the year in 2012 and 2011, respectively.