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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 213,211 $ 183,108
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,458 46,028
Income of investees, net of dividends (4,183) (8,642)
Recognition of losses for pension and postretirement plans 2,382 1,944
Stock-based compensation expense 12,139 9,139
Other, net 990 (1,107)
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable (43,081) 3,075
Accounts payable 9,614 18,124
Retainages (25,495) (12,341)
Contracts in progress and advance billings on contracts (65,077) (111,660)
Income taxes 5,090 (5,130)
Accrued and other current liabilities 23,350 (15,046)
Pension liabilities, accrued postretirement benefit obligations and employee benefits (29,741) (21,608)
Other, net 3,437 5,117
NET CASH PROVIDED BY OPERATING ACTIVITIES 148,094 91,001
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (179,972) (122,629)
Acquisition of business (15,905) 0
Purchases of securities (2,563) (2,686)
Sales and maturities of securities 4,709 2,706
Investments, net of return of capital, in equity method investees 88 0
Other, net 3 208
NET CASH USED IN INVESTING ACTIVITIES (193,640) (122,401)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings of long-term debt 805,800 587,500
Repayments of long-term debt (715,976) (498,363)
Payment of debt issuance costs (6,788) 0
Repurchases of common shares (20,027) (20,000)
Dividends paid to common shareholders (54,908) (49,167)
Exercises of stock options 1,989 3,133
Cash paid for shares withheld to satisfy employee taxes (5,249) (8,942)
Other, net 237 847
NET CASH PROVIDED BY FINANCING ACTIVITIES 5,078 15,008
EFFECTS OF EXCHANGE RATE CHANGES ON CASH (1,299) (7)
TOTAL DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS (41,767) (16,399)
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 50,633 20,009
Cash paid during the period for:    
Interest 28,423 35,342
Income taxes (net of refunds) 55,688 57,179
SCHEDULE OF NON-CASH INVESTING ACTIVITY:    
Accrued capital expenditures included in accounts payable $ 20,613 $ 18,199