XML 81 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating activities:      
Net income $ 270,527 $ 95,249 $ 64,715
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 65,052 57,360 58,904
Amortization of convertible debt discount 2,391 2,211 2,158
Gain on disposition of property, plant and equipment (887) (178) (379)
Stock compensation expense 18,128 8,819 8,319
Withholding taxes paid on stock issuances (2,090) (1,150) (1,124)
(Gain) loss on the sale of businesses 313,708 (886) (26,709)
Changes in assets and liabilities, net of the effects of acquisitions/divestitures:      
Accounts receivable (23,764) (4,160) (24,707)
Inventories 2,079 5,404 (12,384)
Prepaid expenses and other current assets (2,172) (4,341) 59
Accounts payable 2,384 (5,493) 615
Accrued liabilities (9,891) (9,746) 10,645
Deferred income taxes 3,412 9,446 5,386
Long-term retirement benefits (642) (16,438) (18,367)
Other (729) (1,492) 475
Net cash provided by operating activities 10,090 136,377 121,024
Investing activities:      
Proceeds from disposition of property, plant and equipment 1,767 854 3,620
Proceeds from (payments for) the sale of businesses 538,942 (438) 22,492
Change (investment) in restricted cash 0 4,900 (11,664)
Capital expenditures (57,304) (37,787) (37,082)
Business acquisitions, net of cash acquired (307,264) (296,560) (3,495)
Component Repair Program payments (16,639) 0 0
Other (2,058) (3,776) (4,483)
Net cash provided (used) by investing activities 157,444 (332,807) (30,612)
Financing activities:      
Net change in other borrowings (2,753) (8,852) 7,168
Payments on long-term debt (555,195) (114,411) (411,661)
Proceeds from the issuance of long-term debt 450,253 376,000 392,390
Premium paid on convertible debt redemption 0 0 (9,803)
Proceeds from the issuance of common stock 13,491 7,061 28,579
Common stock repurchases (68,608) (19,037) (34,066)
Dividends paid (22,422) (21,662) (18,629)
Excess tax benefit on stock awards 3,899 1,438 8,056
Other (1,472) (1,261) (2,229)
Net cash (used) provided by financing activities (182,807) 219,276 (40,195)
Effect of exchange rate changes on cash flows (227) 1,005 (1,162)
(Decrease) increase in cash and cash equivalents (15,500) 23,851 49,055
Cash and cash equivalents at beginning of year 86,356 62,505 13,450
Cash and cash equivalents at end of year 70,856 86,356 62,505
Supplemental Disclosure of Cash Flow Information:      
Debt assumed in connection with acquisition   45,537  
Treasury shares issued (in shares) 1,032,493    
Treasury shares issued (36,695)    
Intangible assets acquired $ 10,000