XML 22 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 34,944 $ 49,317 $ 37,187
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 33,162 26,130 19,559
Inventory step-up amortization 1,975 1,108 1,954
Long-lived asset impairment charge 0 772 0
Deferred income taxes 636 (2,933) (1,172)
Stock-based compensation 2,081 4,269 4,359
(Income) loss from equity method investment (132) 28 (69)
Loss on disposition of property, plant and equipment 230 0 0
Changes in operating assets and liabilities:      
Accounts receivable (7,127) (8,046) 379
Contract assets (3,828) 0 0
Inventories (6,001) (11,116) 500
Taxes receivable 3,151 (1,216) 1,169
Prepaid expenses and other assets (542) (784) (3,355)
Accounts payable (5,055) 14,315 3,505
Accrued taxes 535 (4,708) 1,244
Accrued payroll and other compensation (2,352) 1,103 1,770
Deferred revenue 3,801 934 1,072
Benefit plan liabilities (7,658) (5,245) 487
Other, net (3,081) (992) 1,138
Net cash provided by operating activities 44,739 62,936 69,727
Cash flows from investing activities:      
Business acquisitions, net of cash acquired (269,972) (323) (152,242)
Capital expenditures (31,291) (27,006) (25,466)
Proceeds from the sale of property, plant and equipment 298 0 0
Net cash used for investing activities (300,965) (27,329) (177,708)
Cash flows from financing activities:      
Proceeds from borrowings 338,000 0 116,600
Debt repayments (89,862) (51,762) (10,328)
Debt issuance costs payments (538) 0 0
Common stock issued 850 1,323 1,194
Common stock repurchased (974) (2,770) (1,091)
Net cash provided by (used for) financing activities 247,476 (53,209) 106,375
Effect of exchange rate changes on cash (1,888) 5,543 (2,369)
Decrease in cash and cash equivalents (10,638) (12,059) (3,975)
Cash and cash equivalents at beginning of period 59,875 71,934 75,909
Cash and cash equivalents at end of period 49,237 59,875 71,934
Cash paid during the year for:      
Interest 5,960 2,747 787
Income taxes, net $ 4,606 $ 16,158 $ 15,739