2011 Q2 Form 10-K Financial Statement

#000119312512322427 Filed on July 30, 2012

View on sec.gov

Income Statement

Concept 2011 Q2 2011 Q1 2011
Revenue $675.7M $569.4M $2.443B
YoY Change 7.87% 26.23% 25.71%
Cost Of Revenue $556.5M $481.2M $2.086B
YoY Change 6.9% 22.32% 25.46%
Gross Profit $119.2M $88.25M $356.2M
YoY Change 12.64% 52.95% 27.23%
Gross Profit Margin 17.64% 15.5% 14.58%
Selling, General & Admin $61.70M $59.80M $235.2M
YoY Change -1.59% 4.0% 7.73%
% of Gross Profit 51.77% 67.76% 66.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.80M $15.80M $61.06M
YoY Change -15.34% -1.86% -5.56%
% of Gross Profit 11.58% 17.9% 17.14%
Operating Expenses $51.30M $59.70M $235.2M
YoY Change -18.18% 3.83% 7.73%
Operating Profit $67.87M $28.55M $124.4M
YoY Change 57.47% 14177.0% 466.21%
Interest Expense $20.20M $12.40M $18.76M
YoY Change 28.66% -2.36% 96.73%
% of Operating Profit 29.76% 43.43% 15.08%
Other Income/Expense, Net $1.000M -$200.0K $600.0K
YoY Change -1100.0% 100.0% -45.45%
Pretax Income $83.50M $40.20M $182.5M
YoY Change 43.47% -277.09% 133.54%
Income Tax $28.90M $11.90M $58.50M
% Of Pretax Income 34.61% 29.6% 32.05%
Net Earnings $51.92M $26.33M $115.1M
YoY Change 56.85% -248.73% 154.34%
Net Earnings / Revenue 7.68% 4.62% 4.71%
Basic Earnings Per Share $0.71 $0.35 $1.54
Diluted Earnings Per Share $0.70 $0.35 $1.53
COMMON SHARES
Basic Shares Outstanding 74.80M shares
Diluted Shares Outstanding 75.41M shares

Balance Sheet

Concept 2011 Q2 2011 Q1 2011
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.20M $49.70M $56.20M
YoY Change -4.75% -9.14% -4.75%
Cash & Equivalents $56.17M $49.70M $56.20M
Short-Term Investments
Other Short-Term Assets $74.80M $59.30M $74.80M
YoY Change 33.57% -2.47% 33.57%
Inventory $370.8M $372.6M $370.8M
Prepaid Expenses
Receivables $388.6M $345.2M $388.6M
Other Receivables $1.300M $9.700M $1.300M
Total Short-Term Assets $891.6M $836.5M $891.6M
YoY Change 13.98% 28.1% 13.97%
LONG-TERM ASSETS
Property, Plant & Equipment $405.3M $495.6M $405.3M
YoY Change -19.92% -4.93% -19.93%
Goodwill $93.63M
YoY Change 17.71%
Intangibles $19.96M
YoY Change
Long-Term Investments $232.1M $125.1M $232.1M
YoY Change 105.44% 14.67% 105.4%
Other Assets $24.54M $16.60M $24.50M
YoY Change 59.35% 20.29% 59.09%
Total Long-Term Assets $775.6M $756.5M $775.6M
YoY Change 5.09% 0.87% 5.09%
TOTAL ASSETS
Total Short-Term Assets $891.6M $836.5M $891.6M
Total Long-Term Assets $775.6M $756.5M $775.6M
Total Assets $1.667B $1.593B $1.667B
YoY Change 9.66% 13.54% 9.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $253.4M $265.8M $253.4M
YoY Change -2.05% 22.6% -2.05%
Accrued Expenses $52.02M $96.20M $124.3M
YoY Change -49.98% 16.61% 19.52%
Deferred Revenue
YoY Change
Short-Term Debt $133.0M $80.80M $133.0M
YoY Change -32.67%
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $525.0M $450.2M $525.0M
YoY Change 38.23% 5.36% 38.23%
LONG-TERM LIABILITIES
Long-Term Debt $250.3M $250.3M $250.3M
YoY Change 0.02% 149.3% 0.04%
Other Long-Term Liabilities $56.59M $69.90M $67.30M
YoY Change -17.26% 1.75% -1.61%
Total Long-Term Liabilities $306.8M $320.2M $317.6M
YoY Change -3.69% 89.36% -0.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $525.0M $450.2M $525.0M
Total Long-Term Liabilities $306.8M $320.2M $317.6M
Total Liabilities $926.5M $897.8M $977.3M
YoY Change 14.54% 27.2% 20.82%
SHAREHOLDERS EQUITY
Retained Earnings $504.4M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $689.9M $695.3M $689.9M
YoY Change
Total Liabilities & Shareholders Equity $1.667B $1.593B $1.667B
YoY Change 9.67% 13.54% 9.66%

Cashflow Statement

Concept 2011 Q2 2011 Q1 2011
OPERATING ACTIVITIES
Net Income $51.92M $26.33M $115.1M
YoY Change 56.85% -248.73% 154.34%
Depreciation, Depletion And Amortization $13.80M $15.80M $61.06M
YoY Change -15.34% -1.86% -5.56%
Cash From Operating Activities $16.60M $65.00M $71.90M
YoY Change -272.92% -560.99% -34.89%
INVESTING ACTIVITIES
Capital Expenditures -$6.100M -$5.100M $22.03M
YoY Change -20.78% -8.93% -35.82%
Acquisitions $31.71M
YoY Change -49.75%
Other Investing Activities $7.700M -$19.30M $6.161M
YoY Change 250.0% -36.72% 1175.57%
Cash From Investing Activities $1.600M -$24.40M -$39.28M
YoY Change -128.57% -32.41% -52.07%
FINANCING ACTIVITIES
Cash Dividend Paid $30.17M
YoY Change -4.71%
Common Stock Issuance & Retirement, Net $127.9M
YoY Change 5431.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.80M -51.80M -35.47M
YoY Change -160.82% -245.92% 37.62%
NET CHANGE
Cash From Operating Activities 16.60M 65.00M 71.90M
Cash From Investing Activities 1.600M -24.40M -39.28M
Cash From Financing Activities -11.80M -51.80M -35.47M
Net Change In Cash 6.400M -11.20M -2.849M
YoY Change 52.38% -23.81% -205.64%
FREE CASH FLOW
Cash From Operating Activities $16.60M $65.00M $71.90M
Capital Expenditures -$6.100M -$5.100M $22.03M
Free Cash Flow $22.70M $70.10M $49.87M
YoY Change -1294.74% -924.71% -34.47%

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CY2011 wor Defined Benefit Plan Actuarial Net Gains Losses Other Comprehensive Income Loss
DefinedBenefitPlanActuarialNetGainsLossesOtherComprehensiveIncomeLoss
1606000
CY2011 wor Equity Method Investment Summarized Financial Information Income Tax Expense Benefit
EquityMethodInvestmentSummarizedFinancialInformationIncomeTaxExpenseBenefit
10126000
CY2011 wor Joint Venture Transactions
JointVentureTransactions
-10436000
CY2011 wor Net Gain On Dispositions
NetGainOnDispositions
1073000
CY2011 wor Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Prior Service Costs
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomePriorServiceCosts
350000
CY2011 wor Joint Venture Transaction Costs
JointVentureTransactionCosts
11216000
CY2011 wor Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss And Net Periodic Benefit Credit Cost
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1145000
CY2011 wor Joint Venture Transactions Non Cash
JointVentureTransactionsNonCash
-21652000
CY2011 wor Retirement Plan Cost
RetirementPlanCost
10681000
CY2011 wor Defined Benefit Plan Amounts Recognized In Other Comprehensive Income
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncome
1956000
CY2011 wor Effective Income Tax Rate From Continuing Operations Including Noncontrolling Interests
EffectiveIncomeTaxRateFromContinuingOperationsIncludingNoncontrollingInterests
0.320 pure
CY2011 wor Effective Income Tax Rate Reconciliation Change In Income Tax Accruals
EffectiveIncomeTaxRateReconciliationChangeInIncomeTaxAccruals
0.002 pure
CY2011 wor Restructuring Reserve Period Costs
RestructuringReservePeriodCosts
14739000
CY2012 dei Trading Symbol
TradingSymbol
WOR
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0000108516
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--05-31
CY2012 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
1019000
CY2012 us-gaap Defined Benefit Plan Amortization Of Net Gains Losses
DefinedBenefitPlanAmortizationOfNetGainsLosses
-439000
CY2012 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1689000
CY2012 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-332000
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeTax
794000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3220000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
101610000
CY2012 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
578000
CY2012 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9758000
CY2012 us-gaap Other Restructuring Costs
OtherRestructuringCosts
9116000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11116000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M13D
CY2012 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
724000
CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
239851000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
-0.028 pure
CY2012 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
342000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11462000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
51129000
CY2012 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
22006000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2012 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-2611000
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
55873000
CY2012 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
1685743000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
21.15
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.006 pure
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1.00 pure
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.65
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
15.55
CY2012 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
-1135000
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-45847000
CY2012 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.48
CY2012 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-318000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
14972000
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
67000
CY2012 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8342000
CY2012 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-5563000
CY2012 us-gaap Profit Loss
ProfitLoss
125353000
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
675000 shares
CY2012 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
318000
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
540000
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
73418000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
shares
CY2012 us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
2047000
CY2012 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
709000
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
47543000
CY2012 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0560 pure
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
55873000
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.310 pure
CY2012 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
37089000
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
11116000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
173649000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-188596000
CY2012 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
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CY2012 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4141000
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
9241000
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-69000
CY2012 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
756000
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
-1245000
CY2012 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
2534701000
CY2012 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1982000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.87
CY2012 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-2039000
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.017 pure
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
11428000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
31713000
CY2012 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
97626000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-15139000
CY2012 us-gaap Defined Benefit Plan Benefits Paid
DefinedBenefitPlanBenefitsPaid
500000
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5880000
CY2012 us-gaap Restructuring Charges
RestructuringCharges
5984000
CY2012 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-821000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
600000 shares
CY2012 us-gaap Advertising Expense
AdvertisingExpense
4788000
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-8478000
CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70252000 shares
CY2012 us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Economic (Non-designated) Hedges</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We enter into foreign currency contracts to manage our foreign exchange exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative instruments are adjusted to current market value at the end of each period through earnings.</font></p> </div>
CY2012 us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
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32000
CY2012 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
2319000
CY2012 us-gaap Sales Revenue Net
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2534701000
CY2012 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
73418000
CY2012 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
4466970 shares
CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-17930000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.66
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-192000
CY2012 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
138471000
CY2012 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1213000
CY2012 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
5918000
CY2012 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
1227000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
14433000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
266000 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.022 pure
CY2012 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
355000
CY2012 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
9494000
CY2012 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
7871000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
578000
CY2012 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
1500000
CY2012 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
4313000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
162285000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69651000 shares
CY2012 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 Segment
CY2012 us-gaap Defined Benefit Plan Amortization Of Net Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfNetPriorServiceCostCredit
0
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-17310000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2756000
CY2012 us-gaap Payments To Suppliers
PaymentsToSuppliers
4353000
CY2012 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
601000 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2012 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
10496000
CY2012 us-gaap Income Loss From Equity Method Investments
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92825000
CY2012 us-gaap Payments For Restructuring
PaymentsForRestructuring
18212000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y6M11D
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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4975000
CY2012 us-gaap Cost Of Goods Sold
CostOfGoodsSold
2201833000
CY2012 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
-789000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.001 pure
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
830000
CY2012 us-gaap Depreciation
Depreciation
50644000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
775000
CY2012 us-gaap Equity Method Investment Summarized Financial Information Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss
330148000
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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961000
CY2012 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
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<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b>Cash Flow Hedges</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">We enter into derivative instruments to hedge our exposure to changes in cash flows attributable to interest rate and commodity price fluctuations associated with certain forecasted transactions. These derivative instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income (&#x201C;OCI&#x201D;) and reclassified into earnings in the same line associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative instrument is recognized in earnings immediately.</font></p> </div>
CY2012 us-gaap Income Taxes Paid Net
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46445000
CY2012 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-45879000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11742000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
177257000
CY2012 us-gaap Gross Profit
GrossProfit
332868000
CY2012 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
201733000
CY2012 us-gaap Minority Interest Increase From Stock Issuance
MinorityInterestIncreaseFromStockIssuance
2333000
CY2012 us-gaap Defined Contribution Plan Cost Recognized
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8643000
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3451046 shares
CY2012 us-gaap Dividends Cash
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33441000
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
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777000
CY2012 us-gaap Net Income Loss
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115595000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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578000
CY2012 us-gaap Interest Paid Net
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18281000
CY2012 us-gaap Selling General And Administrative Expense
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225069000
CY2012 us-gaap Increase Decrease In Receivables
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-956000
CY2012 us-gaap Goodwill Acquired During Period
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68611000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51904000
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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683000
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
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115595000
CY2012 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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97864000
CY2012 us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Use of Estimates:</i>&#xA0;&#xA0;&#xA0;&#xA0;The preparation of financial statements in conformity with accounting principles generally accepted in the United States (&#x201C;U.S. GAAP&#x201D;) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</font></p> </div>
CY2012 us-gaap Payments Of Dividends
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32138000
CY2012 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
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CY2012 us-gaap Amortization Of Intangible Assets
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5229000
CY2012 us-gaap Interest Expense
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19497000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.42
CY2012 us-gaap Defined Benefit Plan Investment Policies And Strategies Narrative Description
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The investment policy and strategy for the defined benefit plan is: (i) long-term in nature with liquidity requirements that are anticipated to be minimal due to the projected normal retirement date of the average employee and the current average age of participants; (ii) to earn nominal returns, net of investment fees, equal to or in excess of the actuarial assumptions of the plan; and (iii) to include a strategic asset allocation of 60-80% equities, including international, and 20-40% fixed income investments.
CY2012 wor Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
167499000
CY2012 wor Equity Method Investment Summarized Financial Information Depreciation And Amortization
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34153000
CY2012 wor Equity Method Investment Summarized Financial Information Interest Expense
EquityMethodInvestmentSummarizedFinancialInformationInterestExpense
6047000
CY2012 wor Equity Method Investment Summarized Financial Information Operating Income Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingIncomeLoss
221013000
CY2012 wor Estimated Unrecognized Tax Benefits Period Increase Decrease Due To Expiration Of Certain Statutes Of Limitations
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470000
CY2012 wor Provision And Recovery For Doubtful Accounts
ProvisionAndRecoveryForDoubtfulAccounts
339000
CY2012 wor Defined Benefit Plan Actuarial Net Gains Losses Other Comprehensive Income Loss
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-12899000
CY2012 wor Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsGrantsInPeriod
600000 shares
CY2012 wor Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedInPeriod
1160000 shares
CY2012 wor Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsForfeituresInPeriod
268000 shares
CY2012 wor Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationTerm
P10Y
CY2012 wor Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Granted In Period Weighted Average Grant Date Fair Value
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7.50
CY2012 wor Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedInPeriodWeightedAverageGrantDateFairValue
5.29
CY2012 wor Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Forfeited In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue
5.36
CY2012 wor Equity Method Investment Summarized Financial Information Income Tax Expense Benefit
EquityMethodInvestmentSummarizedFinancialInformationIncomeTaxExpenseBenefit
15114000
CY2012 wor Joint Venture Transactions
JointVentureTransactions
-150000
CY2012 wor Professional Fees Associated With Restructuring Activities
ProfessionalFeesAssociatedWithRestructuringActivities
4758000
CY2012 wor Net Gain On Dispositions
NetGainOnDispositions
8285000
CY2012 wor Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Prior Service Costs
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomePriorServiceCosts
70000
CY2012 wor Joint Venture Transaction Costs
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-150000
CY2012 wor Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss And Net Periodic Benefit Credit Cost
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-12497000
CY2012 wor Retirement Plan Cost
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8311000
CY2012 wor Defined Benefit Plan Amounts Recognized In Other Comprehensive Income
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncome
-12829000
CY2012 wor Unrecognized Tax Benefits Net Increases Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsNetIncreasesDecreasesResultingFromCurrentPeriodTaxPositions
CY2012 wor Effective Income Tax Rate From Continuing Operations Including Noncontrolling Interests
EffectiveIncomeTaxRateFromContinuingOperationsIncludingNoncontrollingInterests
0.293 pure
CY2012 wor Restructuring Reserve Period Costs
RestructuringReservePeriodCosts
14119000
CY2010Q1 wor Number Of Individuals Impacted By Headcount Reduction
NumberOfIndividualsImpactedByHeadcountReduction
113 Person
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2011Q1 us-gaap Sales Revenue Net
SalesRevenueNet
569439000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2011Q1 us-gaap Gross Profit
GrossProfit
88254000
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
26326000
CY2009Q4 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
1003000
CY2010Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2010Q4 us-gaap Sales Revenue Net
SalesRevenueNet
580687000
CY2010Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2010Q4 us-gaap Gross Profit
GrossProfit
69819000
CY2010Q4 us-gaap Net Income Loss
NetIncomeLoss
14469000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
565652000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2011Q4 us-gaap Gross Profit
GrossProfit
56606000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
11985000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
611255000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2012Q1 us-gaap Gross Profit
GrossProfit
83332000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
25880000
CY2007Q3 wor Number Of Individuals Impacted By Headcount Reduction
NumberOfIndividualsImpactedByHeadcountReduction
63 Person
CY2010Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2010Q3 us-gaap Sales Revenue Net
SalesRevenueNet
616805000
CY2010Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2010Q3 us-gaap Gross Profit
GrossProfit
78914000
CY2010Q3 us-gaap Net Income Loss
NetIncomeLoss
22354000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2011Q3 us-gaap Sales Revenue Net
SalesRevenueNet
602387000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2011Q3 us-gaap Gross Profit
GrossProfit
71462000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
25653000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
CY2011Q2 us-gaap Sales Revenue Net
SalesRevenueNet
675693000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.71
CY2011Q2 us-gaap Gross Profit
GrossProfit
119170000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
51917000
CY2011Q2 wor Joint Venture Transactions
JointVentureTransactions
10436000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
755407000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.76
CY2012Q2 us-gaap Gross Profit
GrossProfit
121468000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
52077000
CY2012Q2 us-gaap Severance Costs
SeveranceCosts
1143000

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