Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

 v2.3.0.11
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities:        
Net income $ 34,313 $ 33,323 $ 18,008 $ 57,423
Adjustments to reconcile net income to net cash provided by operating activities -        
Depreciation 29,168 27,291 57,364 53,875
Amortization of intangible assets 6,871 9,090 13,137 14,938
Non-cash interest expense   567   1,704
Amortization of debt issuance costs 119 173 237 404
Amortization of deferred revenues (2,898) (5,817) (5,848) (6,969)
(Gain) loss on sale of property and equipment (58) 1,307 (66) 877
Non-cash loss on early extinguishment of debt   4,797   4,797
Foreign currency (gain) loss (54) 653 201 368
Provision for (recovery of) doubtful accounts 403 (926) 836 (974)
Deferred income tax (benefit) provision (1,391) (6,007) 10,092 5,923
Non-cash stock-based compensation 5,953 5,760 11,494 11,762
Tax impact of stock-based equity awards 484 (18) (1,530) (1,987)
(Increase) decrease in -        
Accounts and notes receivable (45,435) 2,972 (55,284) 19,769
Costs and estimated earnings in excess of billings on uncompleted contracts 1,501 (71,421) 26,910 (66,753)
Inventories (9,150) (7,583) (10,295) (7,235)
Prepaid expenses and other current assets 10,575 3,588 (25,472) 12,495
Increase (decrease) in -        
Accounts payable and accrued expenses and other non-current liabilities 22,242 56,592 5,081 (38,166)
Billings in excess of costs and estimated earnings on uncompleted contracts 5,721 (23,427) 9,258 (27,294)
Other, net (2,206) (2,375) (2,153) (1,582)
Net cash provided by operating activities 56,158 28,539 51,970 33,375
Cash Flows from Investing Activities:        
Proceeds from sale of property and equipment 1,390 13,175 4,583 14,107
Additions of property and equipment (52,204) (37,361) (89,692) (82,370)
Payment to acquire equity method investments (35,000)   (35,000)  
Net cash used in investing activities (85,814) (24,186) (120,109) (68,263)
Cash Flows from Financing Activities:        
Proceeds from other long-term debt 2,231   4,025  
Payments on other long-term debt (2,185) (62) (4,176) (3,356)
Payments on convertible notes   (143,750)   (143,750)
Distributions to noncontrolling interest (471)   (471)  
Tax impact of stock-based equity awards (484) 18 1,530 1,987
Exercise of stock options (12) 230 495 420
Repurchase of common stock (94,466)   (94,466)  
Net cash used in financing activities (95,387) (143,564) (93,063) (144,699)
Effect of foreign exchange rate changes on cash and cash equivalents 2,406 (795) 2,363 (224)
Net decrease in cash and cash equivalents (122,637) (140,006) (158,839) (179,811)
Cash and cash equivalents, beginning of period 503,019 659,824 539,221 699,629
Cash and cash equivalents, end of period 380,382 519,818 380,382 519,818
Cash (paid) received during the period for -        
Interest paid (189) (3,038) (326) (3,197)
Redemption premium on convertible subordinated notes   (2,310)   (2,310)
Income taxes paid (3,235) (31,273) (6,010) (65,676)
Income tax refunds $ 2,614 $ 4,164 $ 2,799 $ 5,886