XML 43 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income including noncontrolling interest $ 207,160 $ 201,351 $ 199,202
Adjustments to reconcile net income including noncontrolling interest to net cash provided by (used in) operating activities:      
Depreciation and amortization 44,710 36,714 40,530
Provision for bad debt 11,745 4,790 8,173
Share-based payment award compensation costs 16,716 14,079 11,041
Deferred tax (benefit) provision (8,243) 9,665 1,641
Extinguishment of liabilities (8,538) (11,199) (8,348)
Other 4,384 (5,659) 3,431
Changes in assets and liabilities, net of acquisitions:      
Accounts receivable, net (328,969) 97,297 (725,986)
Inventories (77,754) (90,847) (222,445)
Prepaid expenses 30,755 (51,155) (2,319)
Other current assets (19,057) (940) (78,044)
Cash collateral with financial counterparties 9,920 (11,059) 4,957
Other non-current assets (21,957) 4,793 4,237
Accounts payable 385,482 (45,179) 581,948
Accrued expenses and other current liabilities 10,325 (4,718) 44,524
Non-current income tax, net and other long-term liabilities 7,623 (2,142) (5,078)
Total adjustments 57,142 (55,560) (341,738)
Net cash provided by (used in) operating activities 264,302 145,791 (142,536)
Cash flows from investing activities:      
Acquisitions and other investments, net of cash acquired (76,954) (217,782) (122,702)
Capital expenditures (82,716) (28,454) (19,492)
Purchase of short-term investments (21,588)    
Proceeds from the sale of short-term investments 21,588    
Issuance of notes receivable (7,969) (787) (11,109)
Repayment of notes receivable   401 8,671
Decrease in cash due to deconsolidation of a land segment joint venture (6,921)    
Net cash used in investing activities (174,560) (246,622) (144,632)
Cash flows from financing activities:      
Borrowings under senior revolving credit facility and senior term loans 4,550,500 4,050,500 5,019,594
Repayments under senior revolving credit facility and senior term loans (4,456,000) (3,952,500) (4,769,594)
Borrowings of other debt 6,118    
Repayments of other debt (20,304) (13,460) (12,876)
Dividends paid on common stock (10,679) (10,685) (10,603)
Investment by noncontrolling interest 17,519   10,000
Distribution of noncontrolling interest (15,489) (1,401) (1,797)
Purchases of common stock (35,000)    
Payment of assumed employee benefits related to acquisitions     (5,421)
Federal and state tax benefits resulting from tax deductions in excess of the compensation cost recognized for share-based payment awards 3,301 3,681 5,952
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards (6,768) (4,973) (10,206)
Other (3,689) (4,304) (2,483)
Net cash provided by financing activities 29,509 66,858 222,566
Effect of exchange rate changes on cash and cash equivalents 70 1,298 (2,876)
Net increase (decrease) in cash and cash equivalents 119,321 (32,675) (67,478)
Cash and cash equivalents, as of beginning of year 172,740 205,415 272,893
Cash and cash equivalents, as of end of year 292,061 172,740 205,415
Supplemental Disclosures of Cash Flow Information Cash paid during the year for:      
Interest, net of capitalized interest 19,131 17,227 12,098
Income taxes $ 34,557 $ 26,529 $ 51,096