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THOMAS & BETTS CORP

SIC 3640 · Electric Lighting & Wiring Equipment

THOMAS & BETTS CORP

CIK:0000097854|SEC Filings

Basic and Diluted Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2012

Basic and Diluted Earnings Per Share [Abstract]

Reconciliation of basic and diluted earnings per share


		Quarter Ended March 31,
		2012				2011
(In thousands, except per share data)
Net earnings		$	55,075			$	35,526

Basic shares:
Average shares outstanding			51,960				51,546

Basic earnings per share		$	1.06			$	0.69

Diluted shares:
Average shares outstanding			51,960				51,546
Additional shares on the potential dilution from stock options, nonvested restricted stock and performance units			1,266				1,371

			53,226				52,917

Diluted earnings per share		$	1.03			$	0.67

Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash Flows from Operating Activities:
Net earnings	$ 55,075	$ 35,526
Adjustments:
Depreciation and amortization	20,220	21,037
Share-based compensation expense	3,216	3,742
Deferred income taxes	4,437	3,599
Incremental tax benefits from share-based payment arrangements	(8,404)	(1,326)
Changes in operating assets and liabilities, net:
Receivables	(38,604)	(41,364)
Inventories	(28,849)	(35,505)
Accounts payable	(10,233)	(7,487)
Accrued liabilities	(842)	786
Income taxes payable	5,660	(11,001)
Other	(1,076)	(5,213)
Net cash provided by (used in) operating activities	600	(37,206)
Cash Flows from Investing Activities:
Purchases of property, plant and equipment	(10,480)	(12,111)
Other	165	2
Net cash provided by (used in) investing activities	(10,315)	(12,109)
Cash Flows from Financing Activities:
Stock options exercised	35,740	18,518
Repayment of debt and other borrowings	(133)	(78)
Incremental tax benefits from share-based payment arrangements	8,404	1,326
Net cash provided by (used in) financing activities	44,011	19,766
Effect of exchange-rate changes on cash and cash equivalents	11,701	8,634
Net increase (decrease) in cash and cash equivalents	45,997	(20,915)
Cash and cash equivalents, beginning of period	552,256	455,198
Cash and cash equivalents, end of period	598,253	434,283
Cash payments for interest	3,531	4,716
Cash payments for income taxes	$ 10,406	$ 26,768

Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Current Assets
Cash and cash equivalents	$ 598,253	$ 552,256
Receivables, net	326,730	284,855
Inventories	266,828	236,409
Deferred income taxes	44,073	41,915
Other current assets	28,319	28,498
Total Current Assets	1,264,203	1,143,933
Property, plant and equipment, net	299,880	299,218
Goodwill	980,485	974,287
Other intangible assets, net	318,557	324,564
Other assets	74,285	81,719
Total Assets	2,937,410	2,823,721
Current Liabilities
Current maturities of long-term debt	528	339
Accounts payable	204,677	213,052
Accrued liabilities	123,642	123,266
Income taxes payable	7,185	10,230
Total Current Liabilities	336,032	346,887
Long-Term Liabilities
Long-term debt, net of current maturities	574,165	574,416
Long-term benefit plan liabilities	204,482	207,705
Deferred income taxes	43,082	42,792
Other long-term liabilities	49,505	49,634
Contingencies (Note 13)
Shareholders' Equity
Common stock	5,240	5,130
Additional paid-in capital	85,094	38,085
Retained earnings	1,766,073	1,710,998
Accumulated other comprehensive income (loss)	(126,263)	(151,926)
Total Shareholders' Equity	1,730,144	1,602,287
Total Liabilities and Shareholders' Equity	$ 2,937,410	$ 2,823,721