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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities:    
Net income $ 62,060 $ 63,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,639 39,642
Gain on disposition of property, plant and equipment (286) (1,302)
Stock compensation expense 5,947 4,890
Withholding taxes paid on stock issuances (465) (746)
Changes in assets and liabilities:    
Accounts receivable (11,036) (8,902)
Inventories 4,755 (2,768)
Prepaid expenses and other current assets (2,378) (10,448)
Accounts payable 8,014 14,742
Accrued liabilities 8,453 (14,202)
Deferred income taxes (536) 629
Long-term retirement benefits (16,199) (745)
Other (459) 1,818
Net cash provided by operating activities 96,509 85,911
Investing activities:    
Proceeds from disposition of property, plant and equipment 439 2,058
Capital expenditures (22,987) (22,376)
Business acquisitions (1,546) 0
Component Repair Program payments (900) (19,000)
Other 0 (651)
Net cash used by investing activities (24,994) (39,969)
Financing activities:    
Net change in other borrowings (2,349) 13,738
Payments on long-term debt (127,484) (85,821)
Proceeds from the issuance of long-term debt 99,022 68,722
Proceeds from the issuance of common stock 311 9,691
Common stock repurchases (8,000) (11,465)
Dividends paid (13,450) (13,126)
Excess tax benefit on stock awards 59 1,574
Other (2,876) 8,487
Net cash used by financing activities (54,767) (8,200)
Effect of exchange rate changes on cash flows 652 (1,814)
Increase in cash and cash equivalents 17,400 35,928
Cash and cash equivalents at beginning of period 83,926 46,039
Cash and cash equivalents at end of period $ 101,326 $ 81,967