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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 19,739 $ 35,747
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,318 25,788
Employee benefit plan provisions 2,874 1,325
Stock-based compensation 3,124 2,875
Deferred income tax (benefit) expense (1,308) 2,362
Changes in assets and liabilities — net of effects from foreign exchange:    
Receivables 11,743 (5,915)
Inventories (2,954) (11,682)
Revenue in excess of billings on uncompleted contracts and other current assets 3,354 438
Accounts payable and other accrued liabilities (10,069) 3,056
Pension contributions (1,646) (2,310)
Other items - net (9) 1,349
Net cash provided by operating activities 52,166 53,033
Cash flows from investing activities    
Proceeds from sale of assets 1,234  
Capital expenditures (23,355) (49,226)
Net cash used in investing activities (22,121) (49,226)
Cash flows from financing activities    
Japanese working capital loan borrowings — short-term   1,643
Japanese working capital loan repayments — short-term   (1,667)
Credit agreement borrowings — long-term 70,249 87,000
Credit agreement repayments — long-term (76,108) (55,500)
Repayment of term loan- long term (4,001)  
Treasury stock purchased (8,644) (23,482)
Common stock dividends paid (7,585) (7,872)
Proceeds from the exercise of stock options 268 944
Net cash (used in) provided by financing activities (25,821) 1,066
Effect of exchange rate changes on cash and cash equivalents (619) (2,750)
Net increase in cash and cash equivalents 3,605 2,123
Cash and cash equivalents, beginning of period 53,629 53,133
Cash and cash equivalents, end of period $ 57,234 $ 55,256