XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities:    
Net income $ 31,218 $ 13,259
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 10,325 10,926
Equity compensation expense 4,006 3,127
Deferred income taxes 1,570 (851)
Equity in undistributed income of unconsolidated joint ventures (2,181) (1,218)
Dividends received from unconsolidated joint ventures 1,754 1,785
Pension and other postretirement benefits (79) (50)
(Gain) loss on sale or disposal of property, plant and equipment (89) 20
UTIS fire fixed asset and inventory write-offs 1,171 0
Provision (benefit) for credit losses (345) 128
Changes in assets and liabilities:    
Accounts receivable (11,397) (22,981)
Contract assets (4,361) 2,276
Inventories (6,894) 4,095
Pension and postretirement benefit contributions (147) (64)
Other current assets (6,132) (1,558)
Accounts payable and other accrued expenses 17,967 (733)
Other, net 135 472
Net cash provided by operating activities 36,521 8,633
Investing Activities:    
Capital expenditures (3,602) (11,160)
Net cash used in investing activities (3,602) (11,160)
Financing Activities:    
Proceeds from borrowings under revolving credit facility 0 150,000
Repayment of debt principal and finance lease obligations (21,253) (96)
Payments of taxes related to net share settlement of equity awards (2,632) (4,997)
Proceeds from issuance of shares to employee stock purchase plan 704 664
Net cash (used in) provided by financing activities (23,181) 145,571
Effect of exchange rate fluctuations on cash (2,414) (1,616)
Net increase in cash and cash equivalents 7,324 141,428
Cash and cash equivalents at beginning of period 191,785 166,849
Cash and cash equivalents at end of period 199,109 308,277
Supplemental Disclosures:    
Accrued capital additions 2,814 2,525
Interest, net of amounts capitalized 607 1,386
Income taxes $ 9,337 $ 13,218