Fluor 2013 Annual Report Download - page 115

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FLUOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
2. Consolidated Statement of Cash Flows
The changes in operating assets and liabilities as shown in the Consolidated Statement of Cash Flows
are comprised of:
Year Ended December 31,
(in thousands) 2013 2012 2011
(Increase) decrease in:
Accounts and notes receivable, net $ (98,744) $ 23,680 $ (43,501)
Contract work in progress 101,158 29,669 (504,670)
Other current assets 102,417 (111,311) 199,412
Other assets (26,204) (65,418) (2,530)
Increase (decrease) in:
Trade accounts payable (274,418) 195,147 320,708
Advance billings on contracts (29,043) (237,497) 48,470
Accrued liabilities (83,613) 28,993 60,050
Other liabilities 46,851 (58,773) (16,346)
Increase (decrease) in cash due to changes in operating assets
and liabilities $(261,596) $(195,510) $ 61,593
Cash paid during the year for:
Interest $ 22,585 $ 24,244 $ 28,255
Income taxes 268,889 294,214 176,915
3. Income Taxes
The income tax expense (benefit) included in the Consolidated Statement of Earnings is as follows:
Year Ended December 31,
(in thousands) 2013 2012 2011
Current:
Federal $200,608 $(133,312) $117,868
Foreign 168,894 226,110 176,116
State and local 14,779 (7,804) 27,143
Total current 384,281 84,994 321,127
Deferred:
Federal (29,873) 87,723 (13,039)
Foreign 2,054 (16,645) (883)
State and local (1,889) 6,366 (3,476)
Total deferred (29,708) 77,444 (17,398)
Total income tax expense $354,573 $ 162,438 $303,729
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