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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities:      
Net income $ 47,319 $ 87,651 $ 80,459
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 49,162 50,073 44,099
Equity compensation expense 12,305 11,223 11,818
Deferred income taxes (17,549) (3,325) 17,513
Equity in undistributed income of unconsolidated joint ventures (5,319) (5,501) (4,898)
Dividends received from unconsolidated joint ventures 5,375 4,431 3,529
Pension settlement charges 53,213 0 0
Pension and other postretirement benefits (943) (1,552) (1,561)
Asbestos-related charges 1,720 704 3,400
Loss (gain) on sale or disposal of property, plant and equipment 756 (164) (5,154)
Impairment charges 1,537 1,506 807
Provision (benefit) for doubtful accounts 437 236 (439)
Changes in assets and liabilities:      
Accounts receivable 20,677 (3,824) (14,059)
Contract assets 273 (22,728) 0
Inventories (1,200) (19,013) (14,208)
Pension and postretirement benefit contributions (103) (25,354) (906)
Other current assets (1,519) (648) (576)
Accounts payable and other accrued expenses (9,139) (7,886) 12,341
Proceeds from insurance related to operations 0 0 932
Other, net 4,321 991 5,885
Net cash provided by operating activities 161,323 66,820 138,982
Investing Activities:      
Acquisition of business, net of cash received 0 (77,969) (60,191)
Isola asset acquisition 0 (43,434) 0
Capital expenditures (51,597) (47,115) (27,215)
Proceeds from the sale of property, plant and equipment, net 9 1,081 8,095
Proceeds from insurance claims 0 0 1,041
Return of capital from unconsolidated joint ventures 2,625 0 0
Net cash used in investing activities (48,963) (167,437) (78,270)
Financing Activities:      
Proceeds from borrowings under revolving credit facility 0 102,500 0
Line of credit issuance costs 0 0 (1,169)
Repayment of debt principal and finance lease obligations (105,886) (6,162) (110,689)
Payments of taxes related to net share settlement of equity awards (7,550) (6,600) (5,309)
Proceeds from the exercise of stock options, net 344 861 3,085
Proceeds from issuance of shares to employee stock purchase plan 1,249 1,082 895
Share repurchases 0 (2,999) 0
Net cash (used in) provided by financing activities (111,843) 88,682 (113,187)
Effect of exchange rate fluctuations on cash (1,406) (1,486) 5,867
Net decrease in cash and cash equivalents (889) (13,421) (46,608)
Cash and cash equivalents at beginning of period 167,738 181,159 227,767
Cash and cash equivalents at end of period 166,849 167,738 181,159
Supplemental Disclosures:      
Accrued capital additions 3,420 2,744 2,376
Interest, net of amounts capitalized 7,762 7,040 5,787
Income taxes $ 17,593 $ 29,161 $ 36,918