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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 $ 27,760 $ 35,469
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,442 19,386
Long-lived asset impairment charge 0 772
Inventory step-up amortization 1,390 1,108
Deferred income taxes 340 (466)
Stock-based compensation 3,187 3,240
(Income) loss from equity method investment (120) 37
Loss on disposition of property, plant and equipment 100 0
Changes in operating assets and liabilities:    
Accounts receivable (25,407) (12,138)
Contract assets (5,443) 0
Inventories (12,160) (11,795)
Accounts payable 8,296 18,071
Accrued payroll and other compensation (1,406) 2,044
Accrued taxes 981 (2,826)
Benefit plan liabilities (7,635) (3,797)
Other, net 2,173 (2,913)
Net cash provided by operating activities 14,498 46,192
Cash flows from investing activities:    
Business acquisitions, net of cash acquired (269,972) (335)
Capital expenditures (20,091) (19,918)
Proceeds from the sale of property, plant and equipment 282 0
Net cash used for investing activities (289,781) (20,253)
Cash flows from financing activities:    
Proceeds from borrowings 338,000 0
Debt repayments (76,794) (35,674)
Debt issuance cost payments (538) 0
Common stock issued 846 409
Common stock repurchased (956) (2,592)
Net cash provided by (used for) financing activities 260,558 (37,857)
Effect of exchange rate changes on cash (1,076) 4,690
Decrease in cash and cash equivalents (15,801) (7,228)
Cash and cash equivalents at beginning of period 59,875 71,934
Cash and cash equivalents at end of period $ 44,074 $ 64,706