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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities:      
Net income $ 87,651 $ 80,459 $ 48,283
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 50,073 44,099 37,847
Equity compensation expense 11,223 11,818 11,275
Deferred income taxes (3,325) 17,513 7,382
Equity in undistributed income of unconsolidated joint ventures (5,501) (4,898) (4,146)
Dividends received from unconsolidated joint ventures 4,431 3,529 2,757
Pension and other postretirement benefits (1,552) (1,561) (2,822)
Asbestos-related charges 704 3,400 313
(Gain) loss on sale or disposal of property, plant and equipment (164) (5,154) 225
Impairment charges 1,506 807 0
Provision (benefit) for doubtful accounts 236 (439) 1,321
Proceeds from insurance related to operations 0 932 0
Changes in assets and liabilities:      
Accounts receivable (3,824) (14,059) (13,005)
Contract assets (22,728) 0 0
Inventories (19,013) (14,208) 9,689
Pension and postretirement benefit contributions (25,354) (906) (842)
Other current assets (648) (576) 1,933
Accounts payable and other accrued expenses (7,886) 12,341 21,472
Other, net 991 5,885 (4,715)
Net cash provided by operating activities 66,820 138,982 116,967
Investing Activities:      
Acquisition of business, net of cash received (77,969) (60,191) (133,943)
Isola asset acquisition (43,434) 0 0
Capital expenditures (47,115) (27,215) (18,136)
Proceeds from the sale of property, plant and equipment, net 1,081 8,095 0
Proceeds from insurance claims 0 1,041 275
Net cash used in investing activities (167,437) (78,270) (151,804)
Financing Activities:      
Proceeds from borrowings under revolving credit facility 102,500 0 166,000
Line of credit issuance costs 0 (1,169) 0
Repayment of debt principal and capital lease obligations (6,162) (110,689) (103,760)
Payments of taxes related to net share settlement of equity awards (6,600) (5,309) (1,377)
Proceeds from the exercise of stock options, net 861 895 858
Proceeds from issuance of shares to employee stock purchase plan 1,082 3,085 4,143
Share repurchases (2,999) 0 (7,995)
Net cash provided by (used in) financing activities 88,682 (113,187) 57,869
Effect of exchange rate fluctuations on cash (1,486) 5,867 149
Net increase (decrease) in cash and cash equivalents (13,421) (46,608) 23,181
Cash and cash equivalents at beginning of period 181,159 227,767 204,586
Cash and cash equivalents at end of period 167,738 181,159 227,767
Supplemental Disclosures:      
Accrued capital additions 2,744 2,376 1,081
Assets obtained under leasing arrangements 0 883 0
Interest, net of amounts capitalized 7,040 5,787 3,924
Income taxes $ 29,161 $ 36,918 $ 23,952