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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities:    
Net income $ 34,483 $ 59,873
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 22,980 20,997
Equity compensation expense 8,056 8,394
Deferred income taxes (8,728) 3,881
Equity in undistributed income of unconsolidated joint ventures (3,075) (4,111)
Dividends received from unconsolidated joint ventures 1,509 1,754
Pension and other postretirement benefits 23 (190)
(Gain) loss on sale or disposal of property, plant and equipment (18) (682)
Impairment charges 212 0
UTIS fire fixed asset and inventory write-offs 200 1,211
Provision (benefit) for credit losses 89 (342)
Changes in assets and liabilities:    
Accounts receivable (27,116) (24,609)
Proceeds from insurance/government subsidies related to operations 334 148
Contract assets (3,964) (3,710)
Inventories (41,702) (10,527)
Pension and postretirement benefit contributions (117) (151)
Other current assets (5,962) (3,767)
Accounts payable and other accrued expenses (1,976) 14,547
Other, net 13,096 3,490
Net cash (used in) provided by operating activities (11,676) 66,206
Investing Activities:    
Acquisition of business, net of cash received (1,300) 0
Capital expenditures (53,205) (21,415)
Proceeds from the sale of property, plant and equipment, net 0 714
Proceeds from insurance claims 2,262 0
Net cash used in investing activities (52,243) (20,701)
Financing Activities:    
Proceeds from borrowings under revolving credit facility 70,000 0
Repayment of debt principal and finance lease obligations (143) (29,652)
Payments of taxes related to net share settlement of equity awards (10,623) (2,684)
Proceeds from issuance of shares to employee stock purchase plan 950 704
Net cash provided by (used in) financing activities 60,184 (31,632)
Effect of exchange rate fluctuations on cash (3,229) (1,713)
Net (decrease) increase in cash and cash equivalents (6,964) 12,160
Cash and cash equivalents at beginning of period 232,296 191,785
Cash and cash equivalents at end of period 225,332 203,945
Supplemental Disclosures:    
Accrued capital additions 13,527 7,403
Interest, net of amounts capitalized 2,550 964
Income taxes $ 13,426 $ 18,036