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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 62,288 $ 29,868
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 62,005 60,495
Amortization 4,566 4,008
Deferred income tax expense 340 3,433
Dividends from unconsolidated entities 0 19
Other, net 3,037 5,708
Changes in assets and liabilities:    
Accounts receivable (21,445) (42,806)
Inventories (11,175) (6,296)
Contract assets (1,393) 0
Accounts payable 7,359 4,259
Accrued interest payable (58) 166
Accrued compensation (16,045) (4,365)
Advances on contracts (13,116) (1,479)
Retirement plan liabilities, net (18,330) (11,221)
Other assets and liabilities (11,334) 4,990
Net cash provided by operating activities 46,699 46,779
Cash flows from investing activities:    
Purchases of property, plant and equipment (56,496) (40,700)
Purchases of businesses, net of cash acquired 56,389 0
Proceeds from sales of assets 3,153 1,534
Net proceeds (payments) from settlement of foreign currency forward exchange contracts 2,942 (4,170)
Net cash used by investing activities (112,674) (34,996)
Cash flows from financing activities:    
Short-term borrowings, net (2,977) 2,302
Current maturities and long-term debt:    
Additions 124,858 24,000
Reductions (43,193) (46,712)
Dividends paid to noncontrolling interests (4,609) (1,769)
Sale of noncontrolling interests 477 0
Stock-based compensation - Employee taxes paid (3,614) (1,326)
Deferred financing costs (354) (42)
Other financing activities, net 0 (368)
Net cash provided (used) by financing activities 70,588 (23,915)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (3,735) 3,029
Net increase (decrease) in cash and cash equivalents, including restricted cash 878 (9,103)
Cash and cash equivalents, including restricted cash, at beginning of period 66,209 71,879
Cash and cash equivalents, including restricted cash, at end of period $ 67,087 $ 62,776