XML 18 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Operating Activities:      
Net income $ 26,136 $ 27,032  
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 11,109 10,547  
Equity compensation expense 2,673 1,020  
Deferred income taxes 1,342 3,516  
Equity in undistributed income of unconsolidated joint ventures (1,007) (1,009)  
Dividends received from unconsolidated joint ventures 1,809 616  
Pension and postretirement benefits (398) (365)  
Loss (gain) from the sale of property, plant and equipment 0 (947)  
Bad debt expense (386) 384  
Proceeds from insurance related to operations 0 480  
Changes in operating assets and liabilities, excluding effects of acquisitions:      
Accounts receivable (7,822) (12,439)  
Contract assets (22,040) 0  
Inventories 5,813 (769)  
Pension and postretirement benefit contributions (328) (70)  
Other current assets (1,438) (4,063)  
Accounts payable and other accrued expenses (13,050) (1,441)  
Other, net 6,355 742  
Net cash provided by operating activities 8,768 23,234  
Investing Activities:      
Acquisition of business, net of cash received 0 (60,191)  
Capital expenditures (9,122) (5,270)  
Proceeds from insurance claims 0 450  
Proceeds from the sale of property, plant and equipment, net 0 1,603  
Net cash used in investing activities (9,122) (63,408)  
Financing Activities:      
Line of credit issuance costs 0 (1,029)  
Repayment of long-term lease obligation (149) (87)  
Repurchases of capital stock (2,999) 0  
Proceeds from sale of exercise of stock options, net 473 765  
Payments of taxes related to net share settlement of equity awards (6,407) (2,572)  
Proceeds from issuance of shares to employee stock purchase plan 541 422  
Net cash used in financing activities (8,541) (2,501)  
Effect of exchange rate fluctuations on cash 755 1,019  
Net decrease in cash and cash equivalents (8,140) (41,656)  
Cash and cash equivalents at beginning of year 181,159 227,767 $ 227,767
Cash and cash equivalents at end of year 173,019 186,111 181,159
Supplemental Disclosures:      
Interest, net of amounts capitalized $ 1,329 1,209  
Income taxes   $ 4,756 $ 5,645