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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities:      
Net income $ 46,320 $ 53,412 $ 38,305
Income from discontinued operations 0 0 (102)
Adjustments to reconcile net income to cash from operating activities:      
Depreciation and amortization 34,054 26,268 26,351
Stock-based compensation expense 9,643 7,533 5,393
Deferred income taxes 3,668 8,435 5,927
Equity in income of unconsolidated joint ventures, net (2,890) (4,123) (4,326)
Dividends received from unconsolidated joint ventures 3,463 3,849 5,162
Pension and postretirement benefits (1,512) 1,976 5,118
Loss from the sale of property, plant and equipment 295 (69) (7)
Impairment of assets/investments 150   4,620
Loss on disposition of a business 4,819 0 0
Changes in operating assets and liabilities excluding effects of acquisition and disposition of businesses:      
Accounts receivable 10,056 (10,188) (2,727)
Inventories (10,608) (6,054) 6,351
Pension contribution (7,737) (14,645) (13,751)
Other current assets (1,278) 1,063 639
Accounts payable and other accrued expenses (17,632) 16,638 9,020
Other, net 3,111 1,112 (8,806)
Net cash provided by operating activities of continuing operations 73,922 85,207 77,167
Net cash provided by operating activities of discontinued operations   0 848
Net cash provided by operating activities 73,922 85,207 78,015
Investing Activities:      
Capital expenditures (24,837) (28,755) (16,859)
Proceeds from life insurance 2,682 0 0
Loss from the sale of property, plant and equipment, net 0 69 7
Other investing activities (1,000) 166 (127)
Proceeds from the sale of a business 1,300 0 0
Acquisition of business, net of cash received (158,407) 0 0
Net cash used in investing activities (180,297) (28,520) (16,979)
Financing Activities:      
Proceeds from long term borrowings 125,000 0 0
Repayment of debt principal and long term lease obligation (6,641) (17,797) (21,206)
Debt issuance costs (293) 0 0
Repurchases of capital stock (39,993) 0 0
Proceeds from issuance of capital stock, net 6,967 20,513 32,426
Issuance of restricted stock (2,740) (1,542) (1,297)
Proceeds from issuance of shares to employee stock purchase plan 727 693 734
Net cash provided by financing activities 83,027 1,867 10,657
Effect of exchange rate fluctuations on cash (9,441) (13,063) 5,328
Net (decrease) increase in cash and cash equivalents (32,789) 45,491 77,021
Cash and cash equivalents at beginning of year 237,375 191,884 114,863
Cash and cash equivalents at end of year $ 204,586 $ 237,375 $ 191,884