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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities:    
Net income $ 27,167 $ 25,482
Adjustments to reconcile net income to cash from operating activities:    
Depreciation and amortization 16,504 13,165
Stock-based compensation expense 5,025 4,576
Deferred income taxes (444) 3,460
Equity in undistributed income of unconsolidated joint ventures (1,311) (2,039)
Dividends received from unconsolidated joint ventures 780 905
Pension and postretirement benefits (589) (1,480)
Gain from the sale of property, plant and equipment (1) (93)
Changes in operating assets and liabilities, excluding effects of acquisition of businesses:    
Accounts receivable 2,971 (15,967)
Accounts receivable, joint ventures (662) (76)
Inventories (10,482) 3,455
Pension contribution (6,500) (7,265)
Other current assets (2,580) (1,122)
Accounts payable and other accrued expenses (10,417) 5,415
Other, net 2,952 1,257
Net cash provided by (used in) operating activities 22,413 29,673
Investing Activities:    
Acquisition of business, net of cash acquired (155,778) 0
Capital expenditures (14,274) (10,337)
Proceeds from the sale of property, plant and equipment, net 1 93
Net cash provided by (used in) investing activities (170,051) (10,244)
Financing Activities:    
Proceeds from long term borrowings 125,000 0
Repayment of debt principal and long term lease obligation (5,131) (7,651)
Proceeds from sale of capital stock, net 6,515 14,062
Issuance of restricted stock shares (2,342) (1,247)
Proceeds from issuance of shares to employee stock purchase plan 345 334
Net cash provided by (used in) financing activities 124,387 5,498
Effect of exchange rate fluctuations on cash (4,362) 1,881
Net increase (decrease) in cash and cash equivalents (27,613) 26,808
Cash and cash equivalents at beginning of year 237,375 191,884
Cash and cash equivalents at end of quarter $ 209,762 $ 218,692