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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:    
Net income $ 52,692 $ 43,465
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 25,099 22,084
Equity compensation expense 6,143 5,814
Deferred income taxes (2,536) 3,879
Equity in undistributed income of unconsolidated joint ventures (2,579) (2,811)
Dividends received from unconsolidated joint ventures 1,741 1,809
Pension and other postretirement benefits (346) (796)
Asbestos-related charges 67 0
Loss (gain) on sale or disposal of property, plant and equipment 276 (383)
Impairment charges 956 0
Benefit for doubtful accounts (128) (190)
Changes in assets and liabilities:    
Accounts receivable (12,747) (9,446)
Contract assets (2,845) (21,933)
Inventories (2,845) (6,489)
Pension and postretirement benefit contributions (11) (338)
Other current assets (1,211) (1,299)
Accounts payable and other accrued expenses 3,653 (13,835)
Other, net 2,122 3,287
Net cash provided by operating activities 67,501 22,818
Investing Activities:    
Capital expenditures (24,026) (20,177)
Proceeds from the sale of property, plant and equipment, net 9 1,027
Return of capital from unconsolidated joint ventures 2,625 0
Net cash used in investing activities (21,392) (19,150)
Financing Activities:    
Repayment of debt principal and finance lease obligations (33,196) (291)
Payments of taxes related to net share settlement of equity awards (7,424) (6,427)
Proceeds from the exercise of stock options, net 327 698
Proceeds from issuance of shares to employee stock purchase plan 594 558
Share repurchases 0 (2,999)
Net cash used in financing activities (39,699) (8,461)
Effect of exchange rate fluctuations on cash (1,080) (1,666)
Net increase (decrease) in cash and cash equivalents 5,330 (6,459)
Cash and cash equivalents at beginning of period 167,738 181,159
Cash and cash equivalents at end of period 173,068 174,700
Supplemental Disclosures:    
Accrued capital additions 2,119 1,881
Interest, net of amounts capitalized 4,440 2,631
Income taxes $ 9,164 $ 14,040