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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ 40,535 $ (13,649)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization 19,698 20,755
Provision for doubtful accounts 1,086 145
Provision for warranties 7,020 10,115
Deferred compensation expense (benefit) 74 (441)
Stock-based compensation 2,118 1,770
Deferred income tax provision 9,193 1,587
(Gain) loss on disposition of fixed assets 309 (249)
Distributions to SERP participants (2,067) (291)
Change in operating assets and liabilities:    
Sale (purchase) of trading securities, net 883 (628)
Trade and other receivables 18,150 (7,512)
Inventories (1,261) (37,841)
Prepaid expenses and other assets 849 796
Accounts payable (8,899) 14,047
Accrued pellet plant agreement costs 0 17,000
Accrued product warranty (8,004) (14,480)
Customer deposits (4,247) 2,895
Prepaid and income taxes payable, net 8,964 (11,055)
Other (226) (3,498)
Net cash provided (used) by operating activities 84,175 (20,534)
Cash flows from investing activities:    
Expenditures for property and equipment (17,924) (17,518)
Proceeds from sale of property and equipment 268 330
Other 1,407 83
Net cash used by investing activities (16,249) (17,105)
Cash flows from financing activities:    
Payment of dividends (7,436) (7,149)
Stock buy-back purchases 0 (13,914)
Borrowings under bank loans 164,850 48,523
Repayments of bank loans (223,984) (24,741)
Sale of Company shares held by SERP 192 246
Withholding tax paid upon vesting of restricted stock units (312) (432)
Purchase of subsidiary shares (16) (27)
Net cash provided (used by) financing activities (66,706) 2,506
Effect of exchange rates on cash (752) (1,473)
Net change in cash and cash equivalents 468 (36,606)
Cash and cash equivalents, beginning of period 25,821 62,280
Cash and cash equivalents, end of period $ 26,289 $ 25,674