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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash provided (required) by operating activities:      
Net income (loss) $ 94,495 $ 112,664 $ (10,900)
Adjustments to reconcile net income (loss) to net cash provided (required) by operating activities:      
Depreciation 72,569 59,161 56,125
Amortization 51,892 53,701 55,987
Stock-based compensation 5,375 2,236 2,293
Gain on sale of fixed assets and business, net (1,173) (934) (366)
Impairment of fixed assets 990 3,581 0
Deferred income taxes 1,914 (73,268) (19,994)
Employee benefit plan expense 3,340 1,064 1,128
Other 5,563 (5,188) (858)
Changes in operating assets and liabilities (net of effects of acquisitions and foreign exchange):      
Receivables (53,890) (61,573) 26,898
Inventories (38,708) (14,015) 32,912
Prepaid expenses and other current assets (5,422) (5,116) 3,156
Accounts payable 35,185 29,802 (9,874)
Accrued compensation and employee benefits 8,454 5,616 (2,122)
Accrued expenses and other current liabilities 14,004 (311) (1,387)
Leased assets and other (30,688) (31,370) (7)
Net cash provided by operating activities 163,900 76,050 132,991
Cash provided (required) by investing activities:      
Capital expenditures (57,918) (36,654) (26,099)
Proceeds from sale of fixed assets 1,187 3,547 2,526
Proceeds from sale of business 2,473 0 0
Acquisition (net of cash and cash equivalents acquired) 0 (8,842) 0
Addition to intangible assets 0 0 (3,700)
Purchase price adjustments on acquisition 53 0 0
Net cash required by investing activities (54,205) (41,949) (27,273)
Cash provided (required) by financing activities:      
Proceeds from long-term debt, net of discounts 713,963 0 0
Payment of debt issue costs (16,006) 0 0
Repayment of long-term debt (45,000) (599) 0
Distributions to Dover Corporation, net (736,557) (31,192) (84,254)
Distribution to noncontrolling interest (2,720) (1,212) (1,727)
Payment of capital lease obligations (4,518) (3,690) (4,037)
Net cash required by financing activities (90,838) (36,693) (90,018)
Effect of exchange rate changes on cash and cash equivalents (737) 277 (90)
Net increase (decrease) in cash and cash equivalents 18,120 (2,315) 15,610
Cash and cash equivalents at beginning of period 23,712 26,027 10,417
Cash and cash equivalents at end of period $ 41,832 $ 23,712 $ 26,027