XML 81 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Consolidated Statements Of Cash Flows [Abstract]      
Cash and cash equivalents at beginning of year $ 529,650 $ 308,791 $ 253,303
Cash flows from operating activities:      
Net income 464,363 337,359 189,623
Adjustments to reconcile net income to cash flows from operating activities:      
Depreciation and amortization 96,753 95,578 100,513
Restructuring and other charges   6,958 [1] 11,643 [1]
Port de Bouc charges     12,393 [2]
Stock-based compensation 27,069 15,694 307
Excess tax benefits realized from stock-based compensation arrangements (10,574) (7,981) (2,111)
Equity in net income of unconsolidated investments (net of tax) (43,754) (37,975) (22,322)
Dividends received from unconsolidated investments and nonmarketable securities 23,685 16,414 18,045
Pension and postretirement expense 27,161 20,993 9,708
Pension and postretirement contributions (59,773) (80,105) (39,700)
Unrealized gain on investments in marketable securities (688) (1,532) (3,554)
Net change in noncurrent income tax payables and receivables (731) 2,241 (34,020)
Net change in noncurrent environmental liabilities (1,220) 2,354 (4,573)
Deferred income taxes 14,682 47,099 1,720
Change in current assets and liabilities, net of effects of acquisitions and special items:      
(Increase) decrease in accounts receivable (16,435) (57,414) 1,269
(Increase) decrease in inventories (41,749) (58,582) 180,132
Decrease (increase) in other current assets excluding deferred income taxes 4,499 (14,511) (5,012)
(Decrease) increase in accounts payable (11,971) 13,463 (53,543)
Increase (decrease) in accrued expenses and income taxes payable 28,229 35,774 (18,715)
Other, net (12,187) (4,518) 16,722
Net cash provided by operating activities 487,359 331,309 358,525
Cash flows from investing activities:      
Capital expenditures (190,574) (75,478) (100,786)
Cash payments related to acquisitions and other (13,164) (11,978) (4,017)
Cash payments related to the Port de Bouc facility divestiture     (16,440)
Cash impact from deconsolidation of Stannica LLC, net   (12,649)  
Cash proceeds from divestitures   8,600  
Sales of (investments in) marketable securities, net 1,670 652 (347)
Investments in equity and other corporate investments (10,868) (1,338) (40)
Net cash used in investing activities (212,936) (92,191) (121,630)
Cash flows from financing activities:      
Proceeds from issuance of senior notes   346,853  
Proceeds from other borrowings 9,415 125,797 14,300
Repayments of long-term debt (109,591) (424,123) (134,332)
Dividends paid to shareholders (57,759) (49,643) (44,432)
Repurchases of common stock (178,132) (14,945) (5,812)
Proceeds from exercise of stock options 2,230 7,135 4,153
Excess tax benefits realized from stock-based compensation arrangements 10,574 7,981 2,111
Withholding taxes paid on stock-based compensation award distributions (3,129) (3,988) (5,062)
Dividends paid to noncontrolling interests     (11,709)
Debt financing costs (2,727) (3,005)  
Net cash used in financing activities (329,119) (7,938) (180,783)
Net effect of foreign exchange on cash and cash equivalents (5,538) (10,321) (624)
(Decrease) increase in cash and cash equivalents (60,234) 220,859 55,488
Cash and cash equivalents at end of year $ 469,416 $ 529,650 $ 308,791
[1] The year ended December 31, 2010 included charges amounting to $7.0 million ($4.6 million after income taxes) that related principally to reductions in force at our Bergheim, Germany site. The year ended December 31, 2009 results included $11.6 million in pre-tax charges ($7.6 million after income taxes) for restructuring and other costs, related principally to reductions in force and the write-off of assets at our Arkansas facility.
[2] The year ended December 31, 2009 included charges amounting to $12.4 million ($8.2 million after income taxes) that related to the costs of the final contract settlement arising from the divestiture of our Port de Bouc, France facility to International Chemical Investors Group S.A. effective December 31, 2008.