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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating Activities:    
Net income $ 39,621 $ 45,870
Adjustments to reconcile net income to cash from operating activities:    
Depreciation and amortization 25,209 19,858
Stock-based compensation expense 7,734 5,652
Deferred income taxes 2,505 514
Equity in undistributed income of unconsolidated joint ventures (2,187) (2,992)
Dividends received from unconsolidated joint ventures 780 905
Pension and postretirement benefits (858) (2,257)
Loss (gain) from the sale of property, plant and equipment 8 (102)
Changes in operating assets and liabilities, excluding effects of acquisitions:    
Accounts receivable 3,186 (22,775)
Accounts receivable, joint ventures (1,148) (274)
Inventories (11,755) (474)
Pension contribution (6,500) (7,265)
Other current assets 187 (198)
Accounts payable and other accrued expenses (12,037) 18,972
Other, net 816 2,033
Net cash provided by (used in) operating activities 45,561 57,467
Investing Activities:    
Business acquisition, net of cash acquired (158,407) 0
Capital expenditures (21,574) (18,788)
Proceeds from life insurance 2,682 0
Proceeds (loss) from the sale of property, plant and equipment, net (8) 102
Net cash provided by (used in) investing activities (177,307) (18,686)
Financing Activities:    
Proceeds from long term borrowings 125,000 0
Debt issuance costs (293) 0
Repayment of debt principal and long term lease obligation (5,886) (12,711)
Repurchases of capital stock (32,996) 0
Proceeds from sale of capital stock, net 6,539 15,595
Issuance of restricted stock shares (2,405) (1,427)
Proceeds from issuance of shares to employee stock purchase plan 727 694
Net cash provided by (used in) financing activities 90,686 2,151
Effect of exchange rate fluctuations on cash (3,709) (4,843)
Net increase (decrease) in cash and cash equivalents (44,769) 36,089
Cash and cash equivalents at beginning of period 237,375 191,884
Cash and cash equivalents at end of period $ 192,606 $ 227,973