Fluor 2004 Annual Report Download - page 81

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FLUOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
The company recorded goodwill of $18.0 million and intangible assets of $10.0 million. The intangible assets are being
amortized over useful lives ranging from four to nine years. The acquisition did not have a material impact on the company’s
consolidated financial statements.
The company’s consolidated financial statements include the operating results of these businesses from the dates of
acquisition. Pro forma results of operations have not been presented because the effects of these acquisitions were not
material on either an individual or aggregate basis to the company’s consolidated results of operations.
Consolidated Statement of Cash Flows
Cash flows as shown in the Consolidated Statement of Cash Flows and changes in operating assets and liabilities shown
below include the effects of discontinued operations on a consolidated basis, without separate identification and classification
of discontinued operations.
The changes in operating assets and liabilities as shown in the Consolidated Statement of Cash Flows comprise:
Year Ended December 31
2004 2003 2002
(in thousands)
(Increase) decrease in:
Accounts and notes receivable
Contract work in progress
Inventories
Other current assets
Increase (decrease) in:
Accounts payable
Advances from affiliate
Advance billings on contracts
Accrued liabilities
$ (116,880)
(249,596)
(13,717)
4,114
150,453
(44,548)
(90,986)
17,895
$ (81,185)
(394,475)
(1,957)
(35,935)
111,182
(212,782)
(43,780)
(13,890)
$ 70,937
(49,361)
36,666
(7,392)
59,267
(282,084)
100,419
47,986
(Increase) in operating assets and liabilities $ (343,265) $ (672,822) $ (23,562)
Cash paid during the period for:
Interest
Income taxes
Non-cash investing and financing activities:
Consolidation of leased property, plant and equipment
Consolidation of lease financing
$
$
$
$
13,685
62,493
–
–
$
$
$
$
10,028
22,962
(106,957)
127,021
$
$
$
$
8,780
46,485
–
–
F-14