XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ (8,590) $ (38,680)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 33,039 33,604
Amortization 7,965 8,586
Deferred income tax (benefit) expense (56) (4,275)
Equity (income) loss of unconsolidated entities, net 133 131
Dividends from unconsolidated entities 0 178
Other, net 1,009 259
Changes in assets and liabilities, net of acquisitions and dispositions of businesses:    
Accounts receivable (14,533) (15,364)
Income tax refunds receivable, reimbursable to seller 0 7,687
Inventories (8,534) (4,610)
Contract assets 11,698 4,843
Right-of-use assets 7,842 7,076
Accounts payable 17,735 1,655
Accrued interest payable (6,998) (7,393)
Accrued compensation 7,343 (5,692)
Advances on contracts (5,591) (7,808)
Operating lease liabilities (7,202) (7,063)
Retirement plan liabilities, net 814 (14,519)
Other assets and liabilities 838 7,070
Net cash provided (used) by operating activities 36,912 (34,315)
Cash flows from investing activities:    
Purchases of property, plant and equipment (22,146) (32,958)
Proceeds from sales of assets 823 5,976
Expenditures for intangible assets (36) (54)
Net proceeds (payments) from settlement of foreign currency forward exchange contracts (1,212) 1,061
Payments for settlements of interest rate swaps 0 (1,062)
Other investing activities, net 32 124
Net cash used by investing activities (22,539) (26,913)
Cash flows from financing activities:    
Short-term borrowings, net (3,029) 2,051
Current maturities and long-term debt:    
Additions 59,000 72,005
Reductions (57,200) (2,566)
Stock-based compensation - Employee taxes paid (930) (1,377)
Payment of contingent consideration 0 (6,915)
Net cash (used) provided by financing activities (2,159) 63,198
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (1,072) 455
Net increase in cash and cash equivalents, including restricted cash 11,142 2,425
Cash and cash equivalents, including restricted cash, at beginning of period 85,094 87,128
Cash and cash equivalents, including restricted cash, at end of period 96,236 89,553
Supplementary cash flow information:    
Change in accrual for purchases of property, plant and equipment included in accounts payable $ 7,524 $ (745)