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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities:    
Net income $ 38,303 $ 28,848
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,366 18,786
Gain on disposition of property, plant and equipment (46) (252)
Stock compensation expense 2,490 3,011
Changes in assets and liabilities:    
Accounts receivable (15,252) (4,213)
Inventories (7,329) (153)
Prepaid expenses and other current assets 734 (524)
Accounts payable 8,064 (285)
Accrued liabilities 5,117 2,292
Deferred income taxes (705) 251
Long-term retirement benefits (1,812) (16,631)
Other 906 (601)
Net cash provided by operating activities 51,836 30,529
Investing activities:    
Proceeds from disposition of property, plant and equipment 170 313
Capital expenditures (11,727) (13,297)
Business acquisitions 0 (1,546)
Component Repair Program payments 0 (900)
Net cash used by investing activities (11,557) (15,430)
Financing activities:    
Net change in other borrowings (24,947) (14,179)
Payments on long-term debt (24,768) (69,013)
Proceeds from the issuance of long-term debt 47,550 76,503
Proceeds from the issuance of common stock 379 196
Common stock repurchases (5,383) (8,000)
Dividends paid (6,997) (6,468)
Withholding taxes paid on stock issuances (106) (369)
Other (5,828) (2,921)
Net cash used by financing activities (20,100) (24,251)
Effect of exchange rate changes on cash flows 1,657 2,085
Increase (decrease) in cash and cash equivalents 21,836 (7,067)
Cash and cash equivalents at beginning of period 66,447 83,926
Cash and cash equivalents at end of period $ 88,283 $ 76,859