XML 17 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 40,321 $ 38,987
Adjustments to reconcile net income to net operating cash flows:    
Depreciation 20,735 19,764
Amortization of intangible assets 7,296 7,139
Amortization of deferred financing costs 449 449
Loss on foreign currency, net 204 241
Loss on settlement of pension plan 5,086  
(Gain)/Loss on disposal / impairment of fixed assets 293 (36)
Loss on extinguishment of debt   1,797
Stock based compensation 3,830 4,543
Amortization of inventory fair value adjustment   2,347
Changes in assets and liabilities:    
Trade receivables (7,550) (9,701)
Inventories (13,828) (9,478)
Accounts payable and accrued liabilities 7,129 (8,799)
Other current assets and liabilities (4,256) (2,392)
Other operating assets and liabilities (730) (1,572)
Net cash provided by operating activities 58,979 43,289
Cash flows from investing activities    
Purchase of property, plant and equipment (21,129) (23,261)
Working capital settlement from prior year acquisitions   2,883
Proceeds from sale of Altra Industrial Motion (Changzhou) Co. Ltd.   3,221
Acquisition of Aluminum Die Casting, S.r.L. (2,663)  
Net cash used in investing activities (23,792) (17,157)
Cash flows from financing activities    
Payments on 2015 Revolving Credit Facility (36,673) (39,036)
Dividend payments (14,964) (13,256)
Borrowing under 2015 Revolving Credit Facility 19,000 7,000
Payments of equipment, working capital notes, mortgages, and other debts (1,132) (913)
Cash paid to redeem Convertible Notes   (954)
Shares surrendered for tax withholding (2,848) (2,089)
Net cash used in financing activities (36,617) (49,248)
Effect of exchange rate changes on cash and cash equivalents (467) 7,149
Net change in cash and cash equivalents (1,897) (15,967)
Cash and cash equivalents at beginning of year 51,994 69,118
Cash and cash equivalents at end of period 50,097 53,151
Cash paid during the period for:    
Interest 6,257 5,413
Income taxes $ 11,388 18,505
Non-cash Financing and Investing    
Conversion of Convertible Notes to common stock   $ 51,851