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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net income $ 14,359 $ 34,483
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization 28,376 22,980
Equity compensation expense 7,072 8,056
Deferred income taxes (8,917) (8,728)
Equity in undistributed income of unconsolidated joint ventures (918) (3,075)
Dividends received from unconsolidated joint ventures 1,457 1,509
Pension and other postretirement benefits 0 23
(Gain) loss on sale or disposal of property, plant and equipment (486) (18)
Impairment charges 0 212
UTIS fire fixed asset and inventory write-offs 0 200
Provision (benefit) for credit losses (66) 89
Changes in assets and liabilities:    
Accounts receivable (11,448) (27,116)
Proceeds from insurance/government subsidies related to operations 1,043 334
Contract assets (3,437) (3,964)
Inventories 11,568 (41,702)
Pension and postretirement benefit contributions (6) (117)
Other current assets (1,453) (5,962)
Accounts payable and other accrued expenses (17,354) (1,976)
Other, net (2,249) 13,096
Net cash provided by (used in) operating activities 17,541 (11,676)
Investing Activities:    
Acquisition of business, net of cash received 0 (1,300)
Disposition of business 989 0
Capital expenditures (27,881) (53,205)
Proceeds from the sale of property, plant and equipment, net 550 0
Proceeds from insurance claims 1,755 2,262
Net cash used in investing activities (24,587) (52,243)
Financing Activities:    
Proceeds from borrowings under revolving credit facility 0 70,000
Repayment of debt principal and finance lease obligations (85,235) (143)
Line of credit issuance costs (1,742) 0
Payments of taxes related to net share settlement of equity awards (2,513) (10,623)
Proceeds from issuance of shares to employee stock purchase plan 0 950
Net cash provided by (used in) financing activities (89,490) 60,184
Effect of exchange rate fluctuations on cash 2,138 (3,229)
Net decrease in cash and cash equivalents (94,398) (6,964)
Cash and cash equivalents at beginning of period 235,850 232,296
Cash and cash equivalents at end of period 141,452 225,332
Supplemental Disclosures:    
Accrued capital additions 1,163 13,527
Interest, net of amounts capitalized 6,692 2,550
Income taxes $ 5,550 $ 13,426