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, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Cash Flows from Operating Activities:        
Net income $ 85,444 $ 74,726 $ 144,092 $ 151,583
Adjustments to reconcile net income to net cash provided by (used in) operating activities -        
Depreciation 37,996 33,040 74,861 64,920
Amortization of intangible assets 8,615 5,079 16,860 10,380
Amortization of debt issuance costs 273 218 548 436
Amortization of deferred revenues (2,624) (3,012) (5,370) (5,517)
Gain on sale of property and equipment (797) (371) (1,102) (653)
Foreign currency loss 682 442 416 944
Provision for doubtful accounts 1,062 154 1,110 1,662
Non-cash portion of arbitration expense     10,518  
Deferred income tax provision (benefit) (2,338) 6,096 5,748 4,974
Non-cash stock-based compensation 10,384 12,042 20,682 20,078
Tax impact of stock-based equity awards (121) (2,568) (244) (2,568)
Changes in operating assets and liabilities, net of non-cash transactions -        
Accounts and notes receivable (90,117) (1,684) (151,597) 29,159
Costs and estimated earnings in excess of billings on uncompleted contracts 39,491 (638) (7,455) (65,668)
Inventories (4,858) (3,393) (6,781) (2,896)
Prepaid expenses and other current assets (22,555) 1,880 (22,923) 15,428
Accounts payable and accrued expenses and other non-current liabilities (49,916) (29,896) (100,915) (77,530)
Billings in excess of costs and estimated earnings on uncompleted contracts 21,261 26,518 (10,371) 16,014
Other, net 874 (857) 4,146 1,162
Net cash provided by (used in) operating activities 32,756 117,776 (27,777) 161,908
Cash Flows from Investing Activities:        
Proceeds from sale of property and equipment 4,057 2,555 6,550 4,099
Additions of property and equipment (75,404) (104,529) (146,822) (162,166)
Cash paid for acquisitions, net of cash acquired (3,215)   (79,583) (977)
Investments in and return of equity from unconsolidated affiliates (3,044) (925) (3,044) (9,470)
Cash received from (paid for) other investments 2,011 (13,326) 2,270 (13,326)
Net cash used in investing activities (75,595) (116,225) (220,629) (181,840)
Cash Flows from Financing Activities:        
Borrowings under credit facility 333,830   336,200  
Payments under credit facility (333,830)   (336,200)  
Payments on other long-term debt (380)   (10,673)  
Distributions to non-controlling interests (6) (3,858) (506) (9,312)
Tax impact of stock-based equity awards 121 2,568 244 2,568
Exercise of stock options 477 326 901 823
Repurchase of common stock (45,021)   (45,021)  
Net cash used in financing activities (44,809) (964) (55,055) (5,921)
Effect of foreign exchange rate changes on cash and cash equivalents 3,256 (4,093) 3,632 (5,735)
Net decrease in cash and cash equivalents (84,392) (3,506) (299,829) (31,588)
Cash and cash equivalents, beginning of period 273,340 366,619 488,777 394,701
Cash and cash equivalents, end of period 188,948 363,113 188,948 363,113
Supplemental disclosure of cash flow information:        
Interest paid (5,039) (267) (6,307) (729)
Income taxes paid (73,334) (65,809) (161,046) (157,390)
Income tax refunds $ 1,054 $ 336 $ 1,292 $ 342