XML 40 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income $ 49,897 $ 98,548
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 56,333 35,865
Amortization of debt premium (2,185) 0
Deferred income tax provision (6,860) 6,906
Convertible debt conversion charge 7,273 0
Gain on Business Interruption Insurance Recovery (22,451) 0
Supply agreement termination income 0 (26,134)
Stock-based compensation 3,727 2,959
Excess tax benefit from stock options exercised 46 (185)
Insurance proceeds 35,808 0
Issuance of treasury stock under 401(k) plan 497 453
(Increase) decrease in assets:    
Accounts receivable (1,022) (24,099)
Inventories (18,599) (36,921)
Prepaid and other current assets (24,687) (17,619)
Other assets 5,924 3,699
Increase (decrease) in liabilities:    
Accounts payable 23,302 25,893
Other current liabilities 23,218 4,786
Other liabilities 1,968 10,937
Net cash provided by operating activities 132,189 85,088
Cash flows from investing activities:    
Capital expenditures (54,956) (36,319)
Acquisitions, net of cash acquired (1,670) (32,760)
Additional equity investment in Wheels India (8,017) 0
Proceeds from Insurance Settlement, Investing Activities (2,879) 0
Other 1,342 636
Net cash used for investing activities (60,422) (68,443)
Cash flows from financing activities:    
Proceeds from borrowings 345,313 0
Payment on debt (162,040) (14,434)
Term loan borrowing 25,880 4,378
Convertible note conversion (14,090) 0
Proceeds from exercise of stock options 863 925
Excess tax benefit from stock options exercised (46) 185
Payment of financing fees (5,520) 0
Dividends paid (778) (634)
Net cash provided by (used for) financing activities 189,582 (9,580)
Effect of exchange rate changes on cash (3,007) (1,345)
Net increase (decrease) in cash and cash equivalents 258,342 5,720
Cash and cash equivalents, beginning of period 189,114 129,170
Cash and cash equivalents, end of period 447,456 134,890
Supplemental Cash Flow Information [Abstract]    
Interest paid 18,484 15,330
Income taxes paid 56,523 63,669
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]    
Issuance of common stock for convertible debt payment $ 45,903 $ 0