XML 50 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating Cash Flows, Direct Method [Abstract]    
Net income $ 16,048 $ 21,584
Adjustments to reconcile net income to net cash provided by (used in) operating activities, net of acquisitions:    
Depreciation and amortization 7,643 7,875
Non-cash stock based compensation 1,941 1,729
Amortization of debt issuance costs 854 1,145
Loss (gain) on early retirement of debt 539 (603)
Pay-in-kind interest on Subordinated Notes 1,110 1,433
Deferred income taxes 7,454 349
Gains from asset dispositions (49) (44)
Asset impairment charge 0 700
Non-cash gain from derivatives (1,913) (2,383)
Reclassification of net cash settlements on precious metal contracts to investing activities (597) 1,603
Net cash used in operating activities of discontinued operations, including non-cash gain on sale of assets 0 (11,002)
Decrease (increase) in operating assets and liabilities:    
Trade and other receivables (21,473) (37,197)
Inventories (3,866) (11,298)
Other current assets (835) (190)
Accrued interest expense-related party 621 0
Other current liabilities 3,838 2,994
Other items-net (134) (1,038)
Net cash provided by (used in) operating activities 11,181 (24,343)
Cash flows from investing activities:    
Additions to property, plant, and equipment (7,722) (5,712)
Net cash settlements on precious metal contracts 597 (1,603)
Acquisition 0 (8,761)
Proceeds from sales of assets 465 74
Investment in available-for-sale securities (6,321) 0
Net cash provided by (used in) sale of assets of discontinued operations 0 26,532
Net cash provided by (used in) investing activities (12,981) 10,530
Cash flows from financing activities:    
Net revolver borrowings (repayments) (2,042) 19,465
Net borrowings on loans - foreign 1,400 746
Repayments of term loans (2,226) (2,576)
Repurchase of Subordinated Notes 0 (8,069)
Deferred finance charges 0 (510)
Net change in overdrafts 4,305 3,832
Other financing activities (210) (55)
Net cash provided by financing activities 1,227 12,833
Net change for the period (573) (980)
Effect of exchange rate changes on net cash (24) 228
Cash and cash equivalents at beginning of period 6,841 8,762
Cash and cash equivalents at end of period 6,244 8,010
Non-cash financing activities:    
Obligation to repurchase Subordinated Notes $ (5,492) $ 0