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, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Cash Flows from Operating Activities:        
Net income $ 69,797 $ 34,313 $ 119,791 $ 18,008
Adjustments to reconcile net income to net cash provided by operating activities -        
Depreciation 31,036 29,168 61,643 57,364
Amortization of intangible assets 9,549 6,871 18,943 13,137
Amortization of debt issuance costs 227 119 450 237
Amortization of deferred revenues (2,554) (2,898) (5,140) (5,848)
Gain on sale of property and equipment (584) (58) (605) (66)
Foreign currency (gain) loss 647 (54) 374 201
Provision for doubtful accounts 623 403 2,359 836
Deferred income tax (benefit) provision 1,298 (1,391) 2,919 10,092
Non-cash stock-based compensation 8,094 5,953 14,575 11,494
Tax impact of stock-based equity awards 2,868 484 (42) (1,530)
(Increase) decrease in -        
Accounts and notes receivable (19,489) (45,435) (45,415) (55,284)
Costs and estimated earnings in excess of billings on uncompleted contracts (44,292) 1,501 (144,488) 26,910
Inventories 14,435 (9,150) 15,800 (10,295)
Prepaid expenses and other current assets (571) 10,575 5,715 (25,472)
Increase (decrease) in -        
Accounts payable and accrued expenses and other non-current liabilities 47,733 22,242 (2,328) 5,081
Billings in excess of costs and estimated earnings on uncompleted contracts (33,144) 5,721 (15,979) 9,258
Other, net 626 (2,206) (2,491) (2,153)
Net cash provided by operating activities 86,299 56,158 26,081 51,970
Cash Flows from Investing Activities:        
Proceeds from sale of property and equipment 6,256 1,390 7,455 4,583
Additions of property and equipment (49,975) (52,204) (85,319) (89,692)
Cash paid for acquisitions, net of cash acquired (26,823)   (68,727)  
Payments to acquire equity method investment (48,844) (35,000) (53,750) (35,000)
Net cash used in investing activities (119,386) (85,814) (200,341) (120,109)
Cash Flows from Financing Activities:        
Borrowings under credit facility 349,620   349,620  
Payments under credit facility (310,620)   (310,620)  
Proceeds from other long-term debt   2,231   4,025
Payments on other long-term debt (33) (2,185) (33) (4,176)
Distributions to noncontrolling interests (3,747) (471) (6,237) (471)
Tax impact of stock-based equity awards (2,868) (484) 42 1,530
Exercise of stock options 445 (12) 924 495
Repurchase of common stock   (94,466)   (94,466)
Net cash provided by (used in) financing activities 32,797 (95,387) 33,696 (93,063)
Effect of foreign exchange rate changes on cash and cash equivalents (4,209) 2,406 (1,917) 2,363
Net decrease in cash and cash equivalents (4,499) (122,637) (142,481) (158,839)
Cash and cash equivalents, beginning of period 177,367 503,019 315,349 539,221
Cash and cash equivalents, end of period 172,868 380,382 172,868 380,382
Cash (paid) received during the period for -        
Interest paid (424) (189) (780) (326)
Income taxes paid (23,330) (3,235) (70,924) (6,010)
Income tax refunds $ 988 $ 2,614 $ 2,293 $ 2,789