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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 24,842 $ 38,251 $ 24,466
Adjustments for noncash items:      
Depreciation 29,828 34,079 28,494
Amortization of identifiable intangibles 3,976 6,198 3,978
Goodwill, Impairment Loss 46,792 0 0
Deferred income taxes 8,626 (36,414) (3,689)
Accrued pension and postretirement benefits 10,406 10,193 11,047
(Gain) loss on investment in kaléo accounted for under the fair value method (30,600) (33,800) (1,600)
Loss on asset impairments 223 101,282 1,436
(Gain) loss on sale of assets (46) 553 (220)
Insurance Recoveries 0 (5,261) (1,634)
Changes in assets and liabilities:      
Accounts and other receivables (11,883) (10,566) 92
Inventories (9,577) (9,128) 1,127
Income taxes recoverable/payable 25,018 (24,449) (7,061)
Prepaid expenses and other (1,924) (784) (1,914)
Accounts payable and accrued expenses 5,571 21,123 161
Payment for Pension and Other Postretirement Benefits (8,907) (5,829) (8,061)
Other, net 5,449 2,767 2,250
Net cash provided by operating activities 97,794 88,215 48,872
Cash flows from investing activities:      
Capital expenditures (40,814) (44,362) (45,457)
Acquisitions, net of cash acquired 0 (87,110) 0
Proceeds from Previous Acquisition 5,000 0 0
Proceeds from Divestiture of Businesses 1,384 0 0
Proceeds from Insurance Settlement, Investing Activities 0 5,739 1,156
Payments of Financing Costs 0 0 (2,606)
Proceeds from the sale of assets and other 1,098 129 2,308
Net cash used in investing activities (34,082) (125,604) (41,993)
Cash flows from financing activities:      
Borrowings 76,750 190,750 96,750
Debt principal payments (127,250) (133,750) (105,750)
Dividends paid (14,592) (14,532) (14,456)
Proceeds from exercise of stock options and other 1,004 695 2,313
Net cash provided by (used in) financing activities: (64,088) 43,163 (23,749)
Effect of exchange rate changes on cash (1,718) 1,206 2,225
Increase (decrease) in cash and cash equivalents (2,094) 6,980 (14,645)
Cash and cash equivalents at beginning of period 36,491 [1] 29,511 44,156
Cash and cash equivalents at end of period 34,397 [1] 36,491 [1] 29,511
Supplemental cash flow information:      
Interest payments 5,421 5,808 3,074
Income tax payments (refunds), net $ (24,020) $ 9,193 $ 15,406
[1] Information on exports and foreign operations are provided on the previous page. Cash and cash equivalents includes funds held in locations outside the U.S. of $31.1 million and $32.7 million at December 31, 2018 and 2017, respectively. Export sales relate almost entirely to PE Films. Operations outside the U.S. in The Netherlands, Hungary, China and India also relate to PE Films. Operations in Brazil are primarily related to Flexible Packaging Films, but also include PE Films operations. Sales from locations in The Netherlands and Hungary are primarily to customers located in Europe. Sales from locations in China (Guangzhou and Shanghai) are primarily to customers located in China, but also include other customers in Asia.