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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Operating Activities:  
Net income$ 35,919$ 24,023
Adjustments to reconcile net income to cash provided by operating activities:  
Depreciation and amortization20,13811,934
Stock-based compensation expense5,7176,008
Deferred income taxes9502,728
Equity in undistributed income of unconsolidated joint ventures, net(4,041)(6,348)
Dividends received from unconsolidated joint ventures2,7627,184
Pension and postretirement benefits4,5114,471
Gain from the sale of property, plant and equipment(1,900) 
Amortization of inventory fair value1,805 
Changes in operating assets and liabilities excluding effects of acquisition and disposition of businesses:  
Accounts receivable(17,844)(17,026)
Accounts receivable, joint ventures(1,235)(754)
Inventories(23,609)(9,583)
Pension contribution(5,000)(5,478)
Other current assets(4,432)(2,077)
Accounts payable and other accrued expenses(13,035)7,262
Other, net(3,450)(1,243)
Net cash provided by (used in) operating activities(2,744)21,101
Investing Activities:  
Capital expenditures(12,478)(6,765)
Acquisition of business, net of cash received(139,825)(25,908)
Proceeds from short-term investments8,1005,650
Proceeds from the sale of property, plant and equipment, net5,900 
Return of investment in unconsolidated joint ventures 919
Net cash used in investing activities(138,303)(26,104)
Financing Activities:  
Proceeds from long term borrowings145,000 
Repayment of debt principal(16,250) 
Payment of long term borrowings acquired through acquisition(7,745) 
Proceeds from sale of capital stock, net9,692120
Proceeds from issuance of shares to employee stock purchase plan756687
Net cash provided by financing activities131,453807
Effect of exchange rate fluctuations on cash607(301)
Net decrease in cash and cash equivalents(8,987)(4,497)
Cash and cash equivalents at beginning of year80,13557,738
Cash and cash equivalents at end of quarter71,14853,241
Supplemental disclosure of noncash investing and financing activities  
Deferred purchase price for acquisition of business 2,910
Capital lease obligation acquired through acquisition$ 9,806