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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities:    
Net income $ 36,370 $ 39,742
Adjustments to reconcile net income to cash from operating activities:    
Depreciation and amortization 27,635 25,209
Stock-based compensation expense 8,537 7,734
Deferred income taxes 9,594 2,668
Equity in undistributed income of unconsolidated joint ventures (2,220) (2,187)
Dividends received from unconsolidated joint ventures 426 780
Pension and postretirement benefits (2,121) (858)
Loss (gain) from the sale of property, plant and equipment 219 8
Changes in operating assets and liabilities, excluding effects of acquisitions:    
Accounts receivable (9,316) 2,038
Inventories 6,536 (12,039)
Pension contribution (274) (6,500)
Other current assets 227 187
Accounts payable and other accrued expenses 15,125 (12,037)
Other, net 3,485 816
Net cash provided by operating activities 94,223 45,561
Investing Activities:    
Business acquisition, net of cash acquired 0 (158,407)
Capital expenditures, net (14,926) (21,574)
Proceeds from life insurance   2,682
Proceeds from the sale of property, plant and equipment, net 0 (8)
Net cash used in investing activities (14,926) (177,307)
Financing Activities:    
Proceeds from long term borrowings   125,000
Debt issuance costs 0 293
Repayment of debt principal and long term lease obligation (102,580) (5,886)
Repurchases of capital stock (7,995) (32,996)
Proceeds from the exercise of stock options, net 2,058 6,539
Issuance of restricted stock shares (1,288) (2,405)
Proceeds from issuance of shares to employee stock purchase plan 858 727
Net cash (used in) provided by financing activities (108,947) 90,686
Effect of exchange rate fluctuations on cash (1,420) (3,709)
Net increase (decrease) in cash and cash equivalents (31,070) (44,769)
Cash and cash equivalents at beginning of period 204,586 237,375
Cash and cash equivalents at end of period $ 173,516 $ 192,606