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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net income $ 33,394 $ 49,321
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization 39,823 34,352
Equity compensation expense 10,874 11,576
Deferred income taxes (8,297) (14,076)
Equity in undistributed income of unconsolidated joint ventures (1,559) (4,237)
Dividends received from unconsolidated joint ventures 4,254 4,677
Pension and other postretirement benefits 205 23
Gain on sale of business (704) 0
(Gain) loss on sale or disposal of property, plant and equipment (679) (15)
Impairment charges 0 212
UTIS fire fixed asset and inventory write-offs 0 199
Provision (benefit) for credit losses 124 331
Changes in assets and liabilities:    
Accounts receivable (17,531) (23,759)
Proceeds from insurance/government subsidies related to operations 5,705 1,153
Contract assets (8,635) (9,320)
Inventories 22,427 (47,500)
Pension and postretirement benefit contributions (9) (141)
Other current assets 2,075 (4,919)
Accounts payable and other accrued expenses (20,205) (12,083)
Other, net (1,740) 16,040
Net cash provided by operating activities 59,522 1,834
Investing Activities:    
Acquisition of business, net of cash received 0 (1,300)
Disposition of business 1,693 0
Capital expenditures (34,539) (87,000)
Proceeds from the sale of property, plant and equipment, net 745 7,252
Proceeds from insurance claims 1,755 0
Net cash used in investing activities (30,346) (81,048)
Financing Activities:    
Proceeds from borrowings under revolving credit facility 0 100,000
Repayment of debt principal and finance lease obligations (135,328) (202)
Line of credit issuance costs (1,742) 0
Payments of taxes related to net share settlement of equity awards (2,542) (10,751)
Proceeds from issuance of shares to employee stock purchase plan 0 950
Net cash provided by (used in) financing activities (139,612) 89,997
Effect of exchange rate fluctuations on cash 1,041 (6,618)
Net increase (decrease) in cash and cash equivalents (109,395) 4,165
Cash and cash equivalents at beginning of period 235,850 232,296
Cash and cash equivalents at end of period 126,455 236,461
Supplemental Disclosures:    
Accrued capital additions 2,493 9,330
Interest, net of amounts capitalized 8,851 5,491
Income taxes $ 6,261 $ 19,617