XML 63 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 155,155 $ 140,919 $ 100,819
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 37,257 43,408 42,158
Amortization 1,642 1,708 1,708
Provisions for losses on advances and guaranteed loans to suppliers 6,705 1,623 11,930
Inventory write-downs 7,654 1,523 8,324
Stock-based compensation expense 6,278 6,171 5,987
Foreign currency remeasurement loss (gain), net 14,322 (10,579) 2,253
Deferred income taxes (2,176) 11,794 6,770
Equity in net income (loss) of unconsolidated affiliates, net of dividends 3,420 (4,966) 14,658
Gain on favorable outcome of excise tax case in Brazil (81,619) 0 0
Gain on fire loss insurance settlement 0 0 (9,592)
Gain on sale of property in Brazil 0 0 (11,111)
Restructuring costs 6,746 4,113 11,661
Charge for European Commission fine in Italy 0 [1] 0 [1] 49,091 [1]
Other, net 2,251 (1,174) 1,719
Changes in operating assets and liabilities, net:      
Accounts and notes receivable (89,536) (5,433) (25,480)
Inventories and other assets (47,492) 6,578 31,907
Income taxes 11,391 18,111 (1,535)
Accounts payable and accrued liabilities (27,345) 11,167 (53,487)
Customer advances and deposits (8,156) 9,503 12,006
Net cash provided by operating activities (3,503) 234,466 199,786
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (45,849) (30,783) (38,174)
Proceeds from sale of property, plant and equipment 2,746 3,534 18,366
Proceeds from fire loss insurance settlement 0 0 9,933
Other, net 1,033 1,004 0
Net cash used by investing activities (42,070) (26,245) (9,875)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of short-term debt, net (43,727) (18,374) (17,388)
Issuance of long-term obligations 175,000 0 100,000
Repayment of long-term obligations (211,250) (16,250) (96,250)
Dividends paid to noncontrolling interests (1,971) (1,957) (103)
Issuance of common stock 457 3,949 134
Repurchase of common stock (14,145) (8,481) (4,004)
Dividends paid on convertible perpetual preferred stock (14,850) (14,850) (14,850)
Dividends paid on common stock (46,721) (45,996) (44,711)
Proceeds from termination of interest rate swap agreements 0 0 13,388
Debt issuance costs and other (875) 0 (3,539)
Net cash used by financing activities (158,082) (101,959) (67,323)
Effect of exchange rate changes on cash (677) (97) (1,896)
Net increase (decrease) in cash and cash equivalents (204,332) 106,165 120,692
Cash and cash equivalents at beginning of year 367,864 261,699 141,007
Cash and cash equivalents at end of year 163,532 367,864 261,699
Supplemental information - cash paid for:      
Interest 25,116 22,027 20,462
Income taxes, net of refunds $ 65,511 $ 35,913 $ 51,625
[1] Restructuring costs and the fiscal year 2012 charge for European Commission fines are excluded from segment operating income, but are included in consolidated operating income in the consolidated statements of income.