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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 140,016 $ 108,110
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30,565 30,833
Income of investees, net of dividends (927) (6,314)
Recognition of losses for pension and postretirement plans 1,553 1,295
Stock-based compensation expense 7,477 6,352
Other, net 2,025 (977)
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable (2,433) 6,836
Accounts payable (6,641) 11,191
Retainages (76) (2,602)
Contracts in progress and advance billings on contracts (27,560) (69,549)
Income taxes 39,098 (6,184)
Accrued and other current liabilities 2,612 (15,192)
Pension liabilities, accrued postretirement benefit obligations and employee benefits (32,996) (22,983)
Other, net 2,917 6,250
NET CASH PROVIDED BY OPERATING ACTIVITIES 155,630 47,066
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (115,477) (75,701)
Acquisition of business (16,174) 0
Purchases of securities (2,159) (2,038)
Sales and maturities of securities 4,305 2,054
Investments, net of return of capital, in equity method investees 88 0
Other, net 0 17
NET CASH USED IN INVESTING ACTIVITIES (129,417) (75,668)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings of long-term debt 643,000 483,400
Repayments of long-term debt (628,176) (390,714)
Payment of debt issuance costs (6,310) 0
Repurchases of common shares (20,000) (20,000)
Dividends paid to common shareholders (36,764) (32,976)
Exercises of stock options 1,790 1,400
Cash paid for shares withheld to satisfy employee taxes (5,044) (8,654)
Other, net 1,137 815
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (50,367) 33,271
EFFECTS OF EXCHANGE RATE CHANGES ON CASH (690) 447
TOTAL (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS (24,844) 5,116
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 92,400 36,408
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD 67,556 41,524
Cash paid during the period for:    
Interest 17,923 19,827
Income taxes (net of refunds) 3,274 38,103
SCHEDULE OF NON-CASH INVESTING ACTIVITY:    
Accrued capital expenditures included in accounts payable $ 17,235 $ 11,204