XML 19 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities:    
Net income $ 63,199 $ 73,460
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 35,320 32,679
Equity compensation expense 8,536 8,508
Deferred income taxes (17) 10,452
Equity in undistributed income of unconsolidated joint ventures (4,453) (3,359)
Dividends received from unconsolidated joint ventures 4,431 616
Pension and postretirement benefits (1,193) (1,177)
Realized (gain) loss from sale of property, plant and equipment (161) (5,329)
Impairment of assets/investments 477 341
(Benefit) provision for doubtful accounts (264) (553)
Proceeds from insurance related to operations 0 932
Changes in operating assets and liabilities, excluding effects of acquisitions:    
Accounts receivable (14,012) (12,772)
Contract assets (20,260) 0
Inventories (11,840) (16,573)
Pension and postretirement benefit contributions (25,347) (372)
Other current assets 146 (1,283)
Accounts payable and other accrued expenses (4,354) 13,325
Other, net 3,216 956
Net cash provided by operating activities 33,424 99,851
Investing Activities:    
Acquisition of business, net of cash received (78,571) (60,191)
Capital expenditures (36,557) (17,678)
Isola asset acquisition (43,434) 0
Proceeds from insurance claims 0 1,040
Proceeds from the sale of property, plant and equipment, net 1,027 8,130
Net cash used in investing activities (157,535) (68,699)
Financing Activities:    
Proceeds from long-term borrowings 102,500 0
Line of credit issuance costs 0 (1,169)
Repayment of debt principal and capital lease obligations (1,046) (110,285)
Repurchases of capital stock (2,999) 0
Proceeds from the exercise of stock options, net 734 1,926
Payments of taxes related to net share settlement of equity awards (6,492) (5,145)
Proceeds from issuance of shares to employee stock purchase plan 1,082 895
Net cash provided by (used in) financing activities 93,779 (113,778)
Effect of exchange rate fluctuations on cash (1,271) 5,852
Net decrease in cash and cash equivalents (31,603) (76,774)
Cash and cash equivalents at beginning of period 181,159 227,767
Cash and cash equivalents at end of period 149,556 150,993
Supplemental Disclosures:    
Interest, net of amounts capitalized 4,662 4,539
Income taxes $ 23,357 $ 23,989