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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 150,541 $ 44,043 $ 7,415
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
(Gain) loss on sale of assets and businesses (93,974) 246 (916)
Depreciation and amortization 40,214 40,289 55,879
Interest amortization 2,090 3,974 3,755
Restructuring and impairment charges 3,027 9,787 44,702
Loss on extinguishment of debt 2,302 0 0
Provision for allowance for doubtful accounts 1,050 530 1,086
Retirement benefits (46,692) 4,646 9,063
Deferred income taxes 13,796 (11,640) (11,826)
Stock-based compensation 5,066 7,998 7,406
Changes in current assets and liabilities, net of effects of acquisitions:      
Accounts receivable (127,473) (141,330) (74,444)
Inventories (18,076) 36,485 (10,578)
Accounts payable 10,859 (26,671) (10,075)
Other current asset, liabilities and adjustments, net (4,033) 18,451 (3,757)
Net cash provided by (used in) operating activities (61,303) (13,192) 17,710
Cash flows from investing activities      
Capital expenditures for property, plant and equipment and other long-lived assets (29,959) (31,783) (64,970)
Collections of financing receivables 118,095 129,969 84,567
Proceeds from sale of businesses, net 402,087 0 0
Business acquisitions, net of cash acquired 0 0 (251)
Other investing activities 436 807 1,957
Net cash provided by investing activities 490,659 98,993 21,303
Cash flows from financing activities      
Net (payments) borrowings under loans payable 94 (709) 45
Principal payments on term loan facility - Amended Credit Facility (543,200) (8,200) (8,200)
Proceeds from revolving credit facility - Amended Credit Facility 50,000 399,110 227,101
Principal payments on revolving credit facility - Amended Credit Facility (50,000) (399,110) (227,101)
Acquisition related contingent consideration payment 0 0 (5,200)
Proceeds from exercise of stock options 11,575 756 1,052
Purchase of treasury stock 0 0 (25,000)
Other financing activities (6,521) (1,895) (1,892)
Net cash used in financing activities (538,052) (10,048) (39,195)
Effect of exchange rate changes on cash and cash equivalents (2,088) 2,122 283
(Decrease) increase in cash and cash equivalents (110,784) 77,875 101
Cash and cash equivalents at beginning of period 182,277 104,402 104,301
Cash and cash equivalents at end of period 71,493 182,277 104,402
Less: Cash and cash equivalents of discontinued operations at end of period 0 8,200 8,200
Cash and cash equivalents of continuing operations at end of period 71,493 174,077 96,202
Cash paid during the period for:      
Interest 29,256 31,285 33,429
Income taxes $ 24,082 $ 19,648 $ 21,682