|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Cash flows from operating activities |
|
|
|
| Net income (loss) |
$ (67,332) |
$ (22,218) |
$ 30,282 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities |
|
|
|
| Depreciation and amortization |
103,706 |
95,196 |
85,604 |
| Amortization of deferred financing costs and issuance discount |
9,937 |
9,547 |
8,537 |
| Deferred income tax |
4,833 |
4,215 |
4,734 |
| Stock-based compensation |
10,501 |
9,950 |
7,328 |
| Earnings of unconsolidated affiliates, net of dividends |
(12,750) |
(16,638) |
(6,169) |
| Unrealized net losses on foreign exchange forward contracts |
4,554 |
|
|
| Contingent gain on sale of business |
(623) |
|
|
| Loss on extinguishment of debt |
7,390 |
20,744 |
|
| Prepayment penalty on long-term debt |
(3,975) |
|
|
| Loss (gain) on sale of businesses and other assets |
(116) |
4,186 |
263 |
| Impairment charges |
|
13,851 |
245 |
| Changes in assets and liabilities |
|
|
|
| Accounts receivable |
68,483 |
(5,643) |
84,678 |
| Inventories |
22,605 |
55,369 |
(87,241) |
| Accounts payable and other current liabilities |
(5,697) |
15,001 |
67,887 |
| Income taxes payable |
259 |
(1,241) |
(5,142) |
| Other assets, net |
(2,527) |
2,384 |
(12,672) |
| Other liabilities, net |
(22,027) |
26,632 |
7,781 |
| Cash provided by operating activities |
117,221 |
211,335 |
186,115 |
| Cash flows from investing activities |
|
|
|
| Capital expenditures |
(98,606) |
(73,544) |
(118,504) |
| Proceeds from capital expenditures subsidy |
|
18,769 |
6,079 |
| Proceeds from the sale of businesses and other assets |
6,257 |
15,221 |
253 |
| Payment for working capital adjustment from sale of business |
(700) |
|
|
| Advance payment received (refunded) |
|
(2,711) |
2,602 |
| Distributions from unconsolidated affiliates |
978 |
1,055 |
|
| (Increase) / decrease in restricted cash |
(533) |
7,852 |
(7,725) |
| Cash used in investing activities |
(92,604) |
(33,358) |
(117,295) |
| Cash flows from financing activities |
|
|
|
| Proceeds from initial public offering, net of offering costs |
198,087 |
|
|
| Deferred financing fees |
|
(48,255) |
(8,080) |
| Short term borrowings, net |
(56,901) |
(42,877) |
(37,887) |
| Capital contribution |
|
|
162,155 |
| Repayments of Term Loans |
|
(1,239,000) |
(147,000) |
| Proceeds from issuance of Senior Notes |
|
1,325,000 |
|
| Repayments of Senior Notes |
(132,500) |
|
|
| Proceeds from Accounts Receivable Securitization Facility |
308,638 |
376,630 |
113,828 |
| Repayments of Accounts Receivable Securitization Facility |
(309,205) |
(471,696) |
(130,233) |
| Proceeds from Revolving Facility |
|
405,000 |
1,105,000 |
| Repayments of Revolving Facility |
|
(525,000) |
(1,135,000) |
| Cash provided by (used in) financing activities |
8,119 |
(220,198) |
(77,217) |
| Effect of exchange rates on cash |
(8,453) |
2,367 |
(559) |
| Net change in cash and cash equivalents |
24,283 |
(39,854) |
(8,956) |
| Cash and cash equivalents-beginning of period |
196,503 |
236,357 |
245,313 |
| Cash and cash equivalents-end of period |
220,786 |
196,503 |
236,357 |
| Supplemental disclosure of cash flow information |
|
|
|
| Cash paid for income taxes, net of refunds |
5,097 |
24,779 |
20,444 |
| Cash paid for interest, net of amounts capitalized |
119,820 |
83,509 |
98,046 |
| Accrual for property, plant and equipment |
$ 18,245 |
$ 11,156 |
$ 13,155 |