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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 52,089 $ 53,912
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 41,247 32,299
Amortization 3,446 3,018
Change in deferred taxes and other liabilities (2,391) 1,787
Impairment of property, plant and equipment 120 532
Non-cash interest expense 513 565
Compensation and benefits paid or payable in Class A Common Stock 4,243 2,274
Provision/(recovery) for credit losses from uncollected receivables and contract assets (174) 493
Foreign currency remeasurement gain on intercompany loans (2,580) (3,198)
Fair value adjustment on foreign currency contracts 3,109 (123)
Gain on sale of assets (512) 0
Changes in operating assets and liabilities that provided/(used) cash:    
Accounts receivable 4,929 (40,131)
Contract assets (8,435) 4,606
Inventories 3,062 (9,174)
Prepaid expenses and other current assets (2,454) (2,700)
Income taxes prepaid and receivable 873 (381)
Accounts payable 17,679 (5,255)
Accrued liabilities (15,367) (21,570)
Income taxes payable (5,599) (4,943)
Noncurrent receivables (379) 1,705
Other noncurrent liabilities (924) (1,922)
Other, net 494 2,881
Net cash provided by operating activities 92,989 14,675
Cash flows from investing activities:    
Purchases of property, plant and equipment (46,616) (34,899)
Purchased software (40) (72)
Proceeds received from sale of assets 1,029 0
Net cash used in investing activities (45,627) (34,971)
Cash flows from financing activities:    
Proceeds from borrowings 43,282 61,000
Principal payments on debt (122,828) (13,000)
Taxes paid in lieu of share issuance (2,446) (3,136)
Dividends paid (16,233) (15,570)
Net cash (used in)/provided by financing activities (98,225) 29,294
Effect of exchange rate changes on cash and cash equivalents (6,118) 142
(Decrease)/increase in cash and cash equivalents (56,981) 9,140
Cash and cash equivalents at beginning of period 173,420 291,776
Cash and cash equivalents at end of period $ 116,439 $ 300,916