XML 25 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ (88,098) $ (176,431) $ 2,729
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:      
Depreciation 138,956 129,712 131,449
Amortization 32,408 34,137 35,224
(Gain) loss on early extinguishment of debt 0 (2,254) 2,668
Deferred income tax expense (benefit) 1,066 (12,029) (16,930)
Equity (income) loss of unconsolidated entities, net 761 178 302
Dividends from unconsolidated entities 0 526 269
Goodwill and other intangible asset impairment charges 0 119,580 0
Property, plant and equipment impairment charge 14,099 0 0
Other, net 10,167 (427) 2,062
Changes in assets and liabilities:      
Accounts receivable (38,889) 94,317 (19,781)
Income tax refunds receivable from acquisition, reimbursable to seller 0 7,687 2,870
Inventories (3,410) (16,798) (7,783)
Contract assets 3,475 11,543 (43,510)
Right-of-use-assets 32,479 29,171 28,300
Accounts payable (5,090) 19,264 14,118
Accrued interest payable 221 (643) (411)
Accrued compensation 33,871 (3,945) 6,469
Advances on contracts and other customer advances (14,160) (11,347) (14,311)
Operating lease liabilities (30,698) (28,374) (27,307)
Retirement plan liabilities, net (3,968) (34,136) (45,786)
Other assets and liabilities 31,258 (9,204) 21,556
Net cash provided (used) by operating activities 114,448 150,527 72,197
Cash flows from investing activities:      
Purchases of property, plant and equipment (139,025) (137,160) (158,326)
Purchase of businesses, net of cash acquired* 0 0 0
Proceeds from sales of assets 6,991 10,759 16,724
Expenditures for intangible assets (503) (184) (358)
Proceeds from notes receivable 11,238 8,605 6,400
Payments for settlement of interest rate swaps 0 (2,304) 0
Net proceeds (payments) from settlement of foreign currency forward exchange contracts 4,251 20,950 10,940
Other investing activities, net 463 273 171
Net cash used by investing activities (116,585) (99,061) (124,449)
Cash flows from financing activities:      
Short-term borrowings, net 7,027 884 935
Current maturities and long-term debt:      
Additions 201,997 224,445 540,663
Reductions (164,475) (256,310) (464,848)
Dividends paid to noncontrolling interests (5) (4,841) (3,103)
Sale of noncontrolling interests 0 1,901 0
Contributions from noncontrolling interests 1,654 0 0
Stock-based compensation - Employee taxes paid (1,426) (1,949) (3,392)
Payment of contingent consideration 0 (6,915) (1,588)
Deferred financing costs 0 0 (7,828)
Other financing activities, net 0 0 (601)
Net cash (used) provided by financing activities 44,772 (42,785) 60,238
Effect of exchange rate changes on cash, including restricted cash (3,115) (10,715) (527)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 39,520 (2,034) 7,459
Cash and cash equivalents, including restricted cash, at beginning of period 85,094 87,128 79,669
Cash and cash equivalents, including restricted cash, at end of period 124,614 85,094 87,128
Supplemental Cash Flow Information [Abstract]      
Change in accrual for purchases of property, plant and equipment included in accounts payable (7,579) 10,845 4,253
Purchase of businesses, net of cash acquired      
Working capital 0 0 532
Property, plant and equipment 0 0 823
Goodwill 0 0 (1,232)
Other noncurrent assets and liabilities, net 0 0 (123)
Net cash used to acquire businesses $ 0 $ 0 $ 0