XML 57 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Income from continuing operations $ 3,649 $ 4,951
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:    
Deferred income taxes (195) (221)
Depreciation and amortization 2,902 2,365
Equity in income of nonconsolidated investment (204) (176)
Loss (gain) on sales and disposals of property, plant and equipment 12 (8)
Share-based compensation 575 631
Excess tax benefit from share-based compensation (85) (189)
Change in operating assets and liabilities, net of acquisitions:    
Accounts receivable 31,513 (12,852)
Inventories (833) (295)
Other current assets (1,755) (1,298)
Prepaid income tax 450 (1,593)
Other noncurrent assets 43 91
Dividends from LB Pipe & Coupling Products, LLC 90 378
Accounts payable (2,568) (9,363)
Deferred revenue 1,401 4,660
Accrued payroll and employee benefits (3,135) (3,940)
Other current liabilities (330) (78)
Other liabilities 595 (301)
Net cash provided (used) by continuing operating activities 32,125 (17,238)
Net cash provided by discontinued operations 61 124
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from the sale of property, plant and equipment 184 8
Capital expenditures on property, plant and equipment (3,499) (1,031)
Acquisition of business (495)  
Net cash used by continuing investing activities (3,810) (1,023)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of other long-term debt (19) (18)
Proceeds from other long-term debt 316  
Treasury stock acquisitions (747) (547)
Cash dividends on common stock paid to shareholders (309) (310)
Excess tax benefit from share-based compensation 85 189
Net cash used by continuing financing activities (674) (686)
Effect of exchange rate changes on cash and cash equivalents (1,194) (1,206)
Net increase (decrease) in cash and cash equivalents 26,508 (20,029)
Cash and cash equivalents at beginning of period 64,623 101,464
Cash and cash equivalents at end of period 91,131 81,435
Supplemental Disclosure of Cash Flow Information:    
Interest paid 87 86
Income taxes paid $ 1,480 $ 4,076