XML 20 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net earnings $ 227,970 $ 284,608 $ 256,299
Adjustments to reconcile net earnings to net cash provided by operations:      
Depreciation and amortization 192,240 169,312 164,437
Provision for doubtful accounts 1,426 3,577 1,260
Provision for deferred income taxes 62,755 77,976 103,056
Gain on disposition of assets (1,672) (781) (888)
Equity in earnings of affiliates, net of distributions and contributions 449 (384) (348)
Amortization of unearned share-based compensation 11,104 11,591 11,621
Amortization of major maintenance costs 22,126 16,409 9,029
Increase (decrease) in cash flows resulting from changes in:      
Accounts receivable 129,908 (176,544) 2,235
Inventory (7,320) (56,468) 43,275
Other assets (14,174) (11,783) (47,526)
Income taxes payable 477 (4,544) 313
Accounts payable (81,808) 44,645 23,088
Accrued and other liabilities (22,176) 81,295 35,181
Net cash provided by operating activities 521,305 438,909 601,032
Cash flows from investing activities:      
Capital expenditures (345,475) (355,144) (253,227)
Acquisitions of businesses and marine equipment, net of cash acquired (41,250) (31,800) (3,643)
Proceeds from disposition of assets 24,429 10,393 33,982
Net cash used in investing activities (362,296) (376,551) (222,888)
Cash flows from financing activities:      
Borrowings (payments) on bank credit facilities, net 160,784 75,550 (150,960)
Borrowings on long-term debt 0 0 225,000
Payments on long-term debt (100,000) (108,000) (460,000)
Return of investment to noncontrolling interests (1,778) (3,192) (3,857)
Proceeds from exercise of stock options 3,712 7,519 6,635
Purchase of treasury stock (241,105) (15,321) 0
Payment of contingent liability 0 (4,756) (5,000)
Excess tax benefit from equity compensation plans 964 6,119 3,001
Net cash used in financing activities (177,423) (42,081) (385,181)
Increase (decrease) in cash and cash equivalents (18,414) 20,277 (7,037)
Cash and cash equivalents, beginning of year 24,299 4,022 11,059
Cash and cash equivalents, end of year 5,885 24,299 4,022
Supplemental disclosures of cash flow information:      
Interest paid 20,586 19,622 21,393
Income taxes paid 69,584 90,460 46,136
Capital expenditures included in accounts payable $ 2,206 $ 0 $ 0