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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating Activities:      
Net income $ 80,459 $ 48,283 $ 46,320
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 44,099 37,847 34,054
Equity compensation expense 11,818 11,275 9,643
Deferred income taxes 17,513 7,382 3,668
Equity in undistributed income of unconsolidated joint ventures (4,898) (4,146) (2,890)
Dividends received from unconsolidated joint ventures 3,529 2,757 3,463
Pension and postretirement benefits (1,561) (2,822) (1,512)
Gain on the sale of property, plant and equipment (5,329) 0 0
Loss from the disposal of property, plant and equipment 175 225 295
Asbestos-related charges 3,400 313 (256)
Impairment of assets/investments 807 0 150
Bad debt expense (439) 1,321 1,085
Loss on disposition of a business 0 0 4,819
Proceeds from insurance related to operations 932 0 0
Changes in assets and liabilities:      
Accounts receivable (14,059) (13,005) 8,971
Inventories (14,208) 9,689 (10,608)
Pension and postretirement benefit contributions (906) (842) (7,737)
Other current assets (576) 1,933 (1,278)
Accounts payable and other accrued expenses 12,341 21,472 (17,632)
Other, net 5,885 (4,715) 3,367
Net cash provided by operating activities 138,982 116,967 73,922
Investing Activities:      
Capital expenditures (27,215) (18,136) (24,837)
Proceeds from insurance claims 1,041 275 2,682
Proceeds from the sale of property, plant and equipment, net 8,095 0 0
Other investing activities 0 0 (1,000)
Proceeds from the sale of a business 0 0 1,265
Acquisition of business, net of cash received (60,191) (133,943) (158,407)
Net cash used in investing activities (78,270) (151,804) (180,297)
Financing Activities:      
Proceeds from long-term borrowings 0 166,000 125,000
Repayment of debt principal and long-term lease obligation (110,689) (103,760) (6,641)
Line of credit issuance costs (1,169) 0 (293)
Repurchases of capital stock 0 (7,995) (39,993)
Proceeds from sale of capital stock, net 3,085 4,143 6,967
Payments of taxes related to net share settlement of equity awards (5,309) (1,377) (2,740)
Proceeds from issuance of shares to employee stock purchase plan 895 858 727
Net cash (used in) provided by financing activities (113,187) 57,869 83,027
Effect of exchange rate fluctuations on cash 5,867 149 (9,441)
Net (decrease) increase in cash and cash equivalents (46,608) 23,181 (32,789)
Cash and cash equivalents at beginning of year 227,767 204,586 237,375
Cash and cash equivalents at end of year 181,159 $ 227,767 $ 204,586
Supplemental Disclosures:      
Interest, net of amounts capitalized 5,787    
Income taxes $ 36,918