XML 99 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 1,227 $ 22,537
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation 29,933 30,204
Amortization 6,557 3,045
Deferred income tax expense 4,412 595
Equity income of unconsolidated entities, net (96) (21)
Gain on sale from discontinued business (18,462) 0
Other, net (2,007) (279)
Changes in assets and liabilities:    
Accounts receivable (22,050) (3,270)
Inventories (16,412) (14,448)
Contract assets (20,311) 6,770
Increase (Decrease) In Right-Of_Use Assets 3,429 3,895
Accounts payable 12,308 3,099
Accrued interest payable (9,891) 89
Accrued compensation (2,752) (19,924)
Advances on contracts 40,464 (3,406)
Operating lease liabilities (3,358) (3,913)
Retirement plan liabilities, net (15,534) (9,403)
Increase (Decrease) in Income Taxes Payable 3,843 0
Other assets and liabilities (2,836) (732)
Net cash provided (used) by operating activities (11,536) 14,838
Gain (loss) on Extinguishment of debt, Cash Flow   0
Gain on disposition of business (18,462)  
Cash flows from investing activities:    
Purchases of property, plant and equipment (27,894) (36,407)
Purchases of businesses, net of cash acquired (4,157) 680
Proceeds from Divestiture of Businesses 37,219 0
Proceeds from Sale of Productive Assets 2,185 1,177
Expenditures for intangible assets (58) 0
Net proceeds (payments) from settlement of foreign currency forward exchange contracts 11,327 (4,091)
Net cash provided (used) by investing activities 18,622 (38,641)
Cash flows from financing activities:    
Short-term borrowings, net 3,697 (3,578)
Current maturities and long-term debt:    
Additions 52,875 56,998
Reductions (38,709) (1,700)
Sale of noncontrolling interests 0 876
Stock-based compensation - Employee taxes paid (3,437) (8,237)
Deferred financing costs 1,632 0
Net cash provided by financing activities 12,794 44,359
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (10,824) (17)
Net increase in cash and cash equivalents, including restricted cash 9,056 20,539
Cash and cash equivalents, including restricted cash, at beginning of period 59,732 67,146
Cash and cash equivalents, including restricted cash, at end of period 68,788 87,685
Change in accrual for purchases of property, plant and equipment included in accounts payable $ (281) $ 6,473