Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Cash Flows from Operating Activities:        
Net income $ 74,726 $ 69,797 $ 151,583 $ 119,791
Income from discontinued operations   (7,620)   (7,529)
Adjustments to reconcile net income to net cash provided by operating activities -        
Depreciation 33,040 29,376 64,920 58,402
Amortization of intangible assets 5,079 9,326 10,380 18,491
Amortization of debt issuance costs 218 227 436 450
Amortization of deferred revenues (3,012) (2,554) (5,517) (5,140)
Gain on sale of property and equipment (371) (584) (653) (447)
Foreign currency loss 442 647 944 374
Provision for doubtful accounts 154 623 1,662 2,359
Deferred income tax provision 6,096 4,664 4,974 9,652
Non-cash stock-based compensation 12,042 7,597 20,078 13,486
Tax impact of stock-based equity awards (2,568) 2,868 (2,568) (42)
Changes in operating assets and liabilities, net of non-cash transactions - (Increase) decrease in -        
Accounts and notes receivable (1,684) 1,420 29,159 (37,171)
Costs and estimated earnings in excess of billings on uncompleted contracts (638) (35,899) (65,668) (139,290)
Inventories (3,393) 19,256 (2,896) 22,458
Prepaid expenses and other current assets 1,880 (667) 15,428 6,201
Increase (decrease) in -        
Accounts payable and accrued expenses and other non-current liabilities (29,896) 38,578 (77,530) (6,957)
Billings in excess of costs and estimated earnings on uncompleted contracts 26,518 (29,789) 16,014 (18,860)
Other, net (857) 369 1,162 (2,074)
Net cash provided by operating activities of continuing operations 117,776 107,635 161,908 34,154
Cash Flows from Investing Activities:        
Proceeds from sale of property and equipment 2,555 6,256 4,099 6,869
Additions of property and equipment (81,743) (44,866) (139,380) (76,734)
Cash paid for acquisitions, net of cash acquired   (26,823) (977) (68,727)
Investments in unconsolidated affiliates (925) (48,844) (9,470) (53,750)
Cash paid for other investments (36,112)   (36,112)  
Net cash used in investing activities of continuing operations (116,225) (114,277) (181,840) (192,342)
Cash Flows from Financing Activities:        
Borrowings under credit facility   349,620   349,620
Payments under credit facility   (310,620)   (310,620)
Payments on other long-term debt   (33)   (33)
Distributions to noncontrolling interests (3,858) (3,747) (9,312) (6,237)
Tax impact of stock-based equity awards 2,568 (2,868) 2,568 42
Exercise of stock options 326 445 823 924
Net cash provided by (used in) financing activities of continuing operations (964) 32,797 (5,921) 33,696
Discontinued operations:        
Net cash used in operating activities   (21,336)   (8,073)
Net cash used in investing activities   (5,109)   (7,999)
Net cash used in discontinued operations   (26,445)   (16,072)
Effect of foreign exchange rate changes on cash and cash equivalents (4,093) (4,209) (5,735) (1,917)
Net decrease in cash and cash equivalents (3,506) (4,499) (31,588) (142,481)
Cash and cash equivalents, beginning of period 366,619 177,367 394,701 315,349
Cash and cash equivalents, end of period 363,113 172,868 363,113 172,868
Cash (paid) received during the period for -        
Interest paid (267) (424) (729) (780)
Income taxes paid (65,809) (23,330) (157,390) (70,924)
Income tax refunds $ 336 $ 988 $ 342 $ 2,293