2013 Q4 Form 10-K Financial Statement

#000110465914006768 Filed on February 05, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4 2012 Q3
Revenue $426.8M $387.3M $391.6M
YoY Change 10.2% 9.01% 11.31%
Cost Of Revenue $313.7M $291.7M $292.4M
YoY Change 7.54% 8.16% 10.21%
Gross Profit $113.1M $95.60M $99.20M
YoY Change 18.31% 11.68% 14.68%
Gross Profit Margin 26.5% 24.68% 25.33%
Selling, General & Admin $35.70M $31.30M $30.30M
YoY Change 14.06% 11.79% 1.34%
% of Gross Profit 31.56% 32.74% 30.54%
Research & Development $10.40M $10.00M $8.900M
YoY Change 4.0% 21.95% 12.66%
% of Gross Profit 9.2% 10.46% 8.97%
Depreciation & Amortization $16.50M $14.20M $14.70M
YoY Change 16.2% 3.65% 7.3%
% of Gross Profit 14.59% 14.85% 14.82%
Operating Expenses $46.10M $31.40M $39.20M
YoY Change 46.82% -25.06% 3.7%
Operating Profit $67.00M $54.30M $60.00M
YoY Change 23.39% 9.92% 30.43%
Interest Expense -$1.600M -$1.800M $2.200M
YoY Change -11.11% -21.74% 0.0%
% of Operating Profit -2.39% -3.31% 3.67%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change
Pretax Income $65.40M $52.50M $57.80M
YoY Change 24.57% 11.46% 31.96%
Income Tax $18.80M $15.60M $18.00M
% Of Pretax Income 28.75% 29.71% 31.14%
Net Earnings $47.10M $36.90M $39.80M
YoY Change 27.64% -6.58% 23.6%
Net Earnings / Revenue 11.04% 9.53% 10.16%
Basic Earnings Per Share $0.47 $0.37 $0.40
Diluted Earnings Per Share $0.46 $0.36 $0.39
COMMON SHARES
Basic Shares Outstanding 99.56M shares 100.3M shares
Diluted Shares Outstanding 102.1M shares

Balance Sheet

Concept 2013 Q4 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.50M $32.60M $43.20M
YoY Change 100.92% -34.14% -10.74%
Cash & Equivalents $65.50M $32.60M $43.20M
Short-Term Investments
Other Short-Term Assets $93.20M $81.30M $63.10M
YoY Change 14.64% 35.95% 5.52%
Inventory $265.3M $232.8M $235.7M
Prepaid Expenses
Receivables $232.4M $229.0M $242.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $656.4M $575.7M $584.2M
YoY Change 14.02% 9.8% 10.23%
LONG-TERM ASSETS
Property, Plant & Equipment $1.067B $914.4M $858.2M
YoY Change 16.73% 26.63% 29.25%
Goodwill $54.60M $54.20M
YoY Change 0.74%
Intangibles
YoY Change
Long-Term Investments $23.30M $22.60M $21.90M
YoY Change 3.1% 4.15% 0.0%
Other Assets $28.00M $17.20M $16.90M
YoY Change 62.79% -2.27% -64.42%
Total Long-Term Assets $1.180B $1.027B $982.7M
YoY Change 14.82% 20.62% 24.22%
TOTAL ASSETS
Total Short-Term Assets $656.4M $575.7M $584.2M
Total Long-Term Assets $1.180B $1.027B $982.7M
Total Assets $1.836B $1.603B $1.567B
YoY Change 14.53% 16.5% 18.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $135.9M $115.7M $104.3M
YoY Change 17.46% -18.35% -8.43%
Accrued Expenses $129.8M $103.0M $108.1M
YoY Change 26.02% 10.52% 13.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $16.60M $17.10M
YoY Change -81.93% 31.75% 43.7%
Total Short-Term Liabilities $268.7M $235.3M $229.5M
YoY Change 14.19% -4.93% 3.99%
LONG-TERM LIABILITIES
Long-Term Debt $292.0M $240.0M $279.3M
YoY Change 21.67% 0.71% 17.9%
Other Long-Term Liabilities $115.0M $52.40M $109.2M
YoY Change 119.47% 167.35% 47.17%
Total Long-Term Liabilities $407.0M $52.40M $109.2M
YoY Change 676.72% 167.35% -64.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $268.7M $235.3M $229.5M
Total Long-Term Liabilities $407.0M $52.40M $109.2M
Total Liabilities $675.7M $609.0M $618.0M
YoY Change 10.95% 6.12% 16.21%
SHAREHOLDERS EQUITY
Retained Earnings $636.1M $448.2M $411.3M
YoY Change 41.92% 57.87%
Common Stock $643.3M $618.0M $613.2M
YoY Change 4.09% 4.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $129.7M $40.20M $39.20M
YoY Change 222.64% 25.23%
Treasury Stock Shares $5.100M $2.500M 2.500M shares
Shareholders Equity $1.160B $994.1M $948.9M
YoY Change
Total Liabilities & Shareholders Equity $1.836B $1.603B $1.567B
YoY Change 14.53% 16.5% 18.61%

Cashflow Statement

Concept 2013 Q4 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $47.10M $36.90M $39.80M
YoY Change 27.64% -6.58% 23.6%
Depreciation, Depletion And Amortization $16.50M $14.20M $14.70M
YoY Change 16.2% 3.65% 7.3%
Cash From Operating Activities $77.00M $81.90M $76.70M
YoY Change -5.98% 37.65% 127.6%
INVESTING ACTIVITIES
Capital Expenditures -$61.80M -$54.80M -$64.50M
YoY Change 12.77% -6.32% 103.47%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$61.80M -$54.80M -$64.50M
YoY Change 12.77% -6.32% 74.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.50M -38.70M -3.300M
YoY Change -72.87% -1272.73% 371.43%
NET CHANGE
Cash From Operating Activities 77.00M 81.90M 76.70M
Cash From Investing Activities -61.80M -54.80M -64.50M
Cash From Financing Activities -10.50M -38.70M -3.300M
Net Change In Cash 4.700M -11.60M 8.900M
YoY Change -140.52% -369.77% -328.21%
FREE CASH FLOW
Cash From Operating Activities $77.00M $81.90M $76.70M
Capital Expenditures -$61.80M -$54.80M -$64.50M
Free Cash Flow $138.8M $136.7M $141.2M
YoY Change 1.54% 15.85% 115.9%

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CY2013 us-gaap Income Tax Expense Benefit
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CY2013 hxl Income Loss From Continuing Operations Before Income Loss From Equity Method Investments
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CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2013 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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CY2011 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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CY2012 us-gaap Net Cash Provided By Used In Continuing Operations
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CY2013 us-gaap Net Cash Provided By Used In Continuing Operations
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CY2011 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2012Q4 us-gaap Common Stock Shares Authorized
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CY2013Q4 us-gaap Common Stock Shares Authorized
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2011 us-gaap Payments To Acquire Property Plant And Equipment
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CY2011 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2012 us-gaap Proceeds From Sale Of Real Estate
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5300000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
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CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2013 hxl Income Loss From Equity Method Investments And Gain Loss On Sale Of Investments
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CY2013 us-gaap Payments To Acquire Property Plant And Equipment
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2011 us-gaap Proceeds From Long Term Lines Of Credit
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CY2011 us-gaap Proceeds From Repayments Of Other Debt
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CY2011 hxl Call Premium Repayment Senior Subordinates Notes
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CY2011 us-gaap Repayments Of Long Term Lines Of Credit
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CY2011 us-gaap Repayments Of Subordinated Debt
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151500000 USD
CY2011 hxl Income Loss From Equity Method Investments And Gain Loss On Sale Of Investments
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1600000 USD
CY2011 us-gaap Proceeds From Stock Plans
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10500000 USD
CY2012 us-gaap Proceeds From Long Term Lines Of Credit
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CY2012 us-gaap Proceeds From Repayments Of Other Debt
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CY2012 us-gaap Payments Of Financing Costs
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CY2012 hxl Call Premium Repayment Senior Subordinates Notes
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800000 USD
CY2012 us-gaap Repayments Of Long Term Lines Of Credit
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CY2012 us-gaap Repayments Of Subordinated Debt
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CY2012 us-gaap Proceeds From Stock Plans
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CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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8200000 USD
CY2013 us-gaap Proceeds From Long Term Lines Of Credit
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309000000 USD
CY2013 us-gaap Proceeds From Repayments Of Other Debt
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CY2013 us-gaap Payments Of Financing Costs
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CY2013 us-gaap Repayments Of Long Term Lines Of Credit
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CY2013 us-gaap Proceeds From Stock Plans
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CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2013 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2013Q4 us-gaap Treasury Stock Shares
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CY2012 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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CY2011 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2011 us-gaap Comprehensive Income Net Of Tax
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CY2011 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2013Q4 hxl Goodwill And Intangible Assets Net
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CY2013Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2013Q4 us-gaap Goodwill
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CY2013Q4 us-gaap Equity Method Investment Ownership Percentage
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CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2013Q4 us-gaap Capital Leases Balance Sheet Assets By Major Class Net
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CY2012 us-gaap Comprehensive Income Net Of Tax
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CY2011 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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CY2012 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2013 us-gaap Comprehensive Income Net Of Tax
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230500000 USD
CY2011 us-gaap Depreciation Depletion And Amortization
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55300000 USD
CY2011 us-gaap Amortization Of Financing Costs And Discounts
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CY2011 us-gaap Deferred Income Taxes And Tax Credits
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CY2011 us-gaap Share Based Compensation
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CY2011 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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8500000 USD
CY2012 us-gaap Depreciation Depletion And Amortization
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CY2012 us-gaap Amortization Of Financing Costs And Discounts
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CY2012 us-gaap Deferred Income Taxes And Tax Credits
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CY2012 us-gaap Share Based Compensation
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CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2012 us-gaap Gain Loss On Disposition Of Assets
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CY2013 us-gaap Amortization Of Financing Costs And Discounts
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CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2011 us-gaap Increase Decrease In Accounts Receivable
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CY2011 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2012 us-gaap Increase Decrease In Accounts Receivable
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2012Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
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CY2013Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
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CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2013 us-gaap Capitalized Computer Software Additions
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CY2011Q4 hxl Goodwill And Intangible Assets Net
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CY2012 hxl Goodwill And Intangible Assets Currency Translation And Other Adjustments
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CY2013Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
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CY2012Q4 us-gaap Capital Lease Obligations
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CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><i><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-STYLE: italic;" size="2">Use of Estimates</font></i></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.25in;"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;" size="2">Preparation of the accompanying consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160; Actual results could differ from those estimates.</font></p> </div>
CY2013Q4 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
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CY2013Q4 us-gaap Long Term Debt
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P3Y
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CY2013Q4 hxl Multiemployer Plan Expected Contributions In Next Fiscal Year
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CY2011 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
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CY2011 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Curtailments
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CY2013 us-gaap Concentration Risk Credit Risk
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CY2011 us-gaap Product Warranty Expense
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CY2012 us-gaap Multiemployer Plan Period Contributions
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2900000 USD
CY2013 hxl Defined Contribution Plan Matching Contribution Cost Recognized
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CY2012 hxl Defined Contribution Plan Profit Sharing Contribution Cost Recognized
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7600000 USD
CY2011 hxl Defined Contribution Plan Profit Sharing Contribution Cost Recognized
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CY2013 hxl Defined Contribution Plan Profit Sharing Contribution Cost Recognized
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CY2012 hxl Costs Of Retirement Plans
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CY2011 hxl Costs Of Retirement Plans
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CY2012 us-gaap Income Tax Reconciliation Other Adjustments
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CY2013Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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CY2012Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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CY2012Q4 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
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CY2013Q4 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
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CY2012 hxl Defined Benefit Plan Target Asset Allocation Percentage
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CY2013 hxl Defined Benefit Plan Target Asset Allocation Percentage
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1.00 pure
CY2013 hxl Defined Benefit Plan Health Care Cost Trend Rate Assumed For Medical Care
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0.060 pure
CY2013 hxl Defined Benefit Plan Health Care Cost Trend Rate Assumed For Dental And Vision Care
DefinedBenefitPlanHealthCareCostTrendRateAssumedForDentalAndVisionCare
0.050 pure
CY2013 hxl Defined Benefit Plan Ultimate Health Care Cost Trend Rate For Medical Care
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0.045 pure
CY2013 hxl Defined Benefit Plan Ultimate Health Care Cost Trend Rate For Dental And Vision Care
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0.050 pure
CY2013 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation
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200000 USD
CY2013 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Accumulated Postretirement Benefit Obligation1
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200000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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149800000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
137400000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
106300000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
112800000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
100300000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
69200000 USD
CY2013 us-gaap Current Federal Tax Expense Benefit
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30500000 USD
CY2011 us-gaap Current Foreign Tax Expense Benefit
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