XML 25 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (44,445) $ 25,656 $ 29,290
Adjustments to reconcile net (loss) income to cash provided by operating activities:      
Deferred income taxes (14,582) (2,914) 3,244
Depreciation 14,429 7,882 6,890
Amortization 12,245 4,695 3,112
Impairment of goodwill 80,337 0 0
Equity loss (income) and remeasurement gain (167) (1,282) (1,316)
(Gain) loss on sales and disposals of property, plant, and equipment (2,064) 21 127
Share-based compensation 1,471 3,007 2,156
Excess income tax benefit from share-based compensation (253) (336) (203)
Change in operating assets and liabilities, net of acquisitions:      
Accounts receivable 31,223 15,311 (36,782)
Inventories 4,331 (9,872) 29,919
Other current assets 3,248 (1,004) (310)
Prepaid income tax 1,134 2,530 (6,882)
Other noncurrent assets (909) (386) 264
Dividends from LB Pipe & Coupling Products, LLC 90 630 558
Accounts payable (17,204) 16,285 (5,206)
Deferred revenue (2,279) 591 (1,805)
Accrued payroll and employee benefits (5,136) 2,542 (608)
Other current liabilities (4,189) 2,732 (7,561)
Other liabilities (1,108) 651 (732)
Net cash provided by operating activities 56,172 66,739 14,155
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from the sale of property, plant, and equipment 5,339 184 0
Capital expenditures on property, plant and equipment (14,913) (17,056) (9,674)
Acquisitions, net of cash acquired (196,001) (80,797) (37,500)
Capital contributions to equity method investments 0 (82) 0
Net cash used by investing activities (205,575) (97,751) (47,174)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayments of debt (161,068) (125) (6)
Proceeds from debt 301,063 24,516 0
Proceeds from exercise of stock options and stock awards 68 131 35
Financing fees (1,670) (473) 0
Treasury stock acquisitions 2,701 985 708
Cash dividends on common stock paid to shareholders (1,656) (1,345) (1,240)
Excess income tax benefit from share-based compensation 253 336 203
Net cash provided (used) by financing activities 134,289 22,055 (1,716)
Effect of exchange rate changes on cash and cash equivalents (3,598) (3,642) (2,106)
Net decrease in cash and cash equivalents (18,712) (12,599) (36,841)
Cash and cash equivalents at beginning of period 52,024 64,623 101,464
Cash and cash equivalents at end of period 33,312 52,024 64,623
Supplemental Disclosure of Cash Flow Information:      
Interest paid 3,674 362 330
Income taxes paid 7,835 14,617 18,697
Capital expenditures funded through financing agreements $ 288 $ 1,981 $ 0