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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net income $ 49,321 $ 85,002
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 34,352 31,121
Equity compensation expense 11,576 13,147
Deferred income taxes (14,076) (1,267)
Equity in undistributed income of unconsolidated joint ventures (4,237) (5,884)
Dividends received from unconsolidated joint ventures 4,677 4,965
Pension settlement charges (benefits) 534
Pension and other postretirement benefits 23 (300)
(Gain) loss on sale or disposal of property, plant and equipment (15) (673)
Impairment charges 212 385
UTIS fire fixed asset and inventory write-offs 199 1,254
Provision (benefit) for credit losses 331 (310)
Changes in assets and liabilities:    
Accounts receivable (23,759) (32,254)
Proceeds from insurance/government subsidies related to operations 1,153 264
Contract assets (9,320) (6,136)
Inventories (47,500) (19,386)
Pension and postretirement benefit contributions (141) (156)
Other current assets (4,919) (144)
Accounts payable and other accrued expenses (12,083) 27,495
Other, net 16,040 8,458
Net cash provided by operating activities 1,834 106,115
Investing Activities:    
Acquisition of business, net of cash received (1,300) 0
Capital expenditures (87,000) (43,411)
Proceeds from the sale of property, plant and equipment, net 0 714
Proceeds from insurance claims 7,252 0
Net cash used in investing activities (81,048) (42,697)
Financing Activities:    
Proceeds from borrowings under revolving credit facility 100,000 0
Repayment of debt principal and finance lease obligations (202) (29,655)
Payments of taxes related to net share settlement of equity awards (10,751) (2,752)
Proceeds from issuance of shares to employee stock purchase plan 950 1,563
Net cash provided by (used in) financing activities 89,997 (30,844)
Effect of exchange rate fluctuations on cash (6,618) (3,458)
Net (decrease) increase in cash and cash equivalents 4,165 29,116
Cash and cash equivalents at beginning of period 232,296 191,785
Cash and cash equivalents at end of period 236,461 220,901
Supplemental Disclosures:    
Accrued capital additions 9,330 6,447
Interest, net of amounts capitalized 5,491 1,285
Income taxes $ 19,617 $ 25,867