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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 6,628 $ 13,354
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,788 18,236
Employee benefit plan provisions 1,523 2,090
Stock-based compensation 2,292 2,196
Deferred income tax (benefit) expense (1,704) (1,349)
Changes in assets and liabilities — net of effects from foreign exchange:    
Receivables (3,668) 2,020
Inventories (10,583) (11,176)
Revenue in excess of billings on uncompleted contracts and other current assets (10,971) 5,004
Accounts payable and other accrued liabilities 4,303 1,646
Pension contributions (1,229) (711)
Other items - net (759) (441)
Net cash provided by operating activities 9,620 30,869
Cash flows from investing activities    
Purchase of business - net of cash (Note 15) (1,233)  
Capital expenditures (29,898) (16,892)
Proceeds from sale of assets   1,234
Net cash used in investing activities (31,131) (15,658)
Cash flows from financing activities    
Credit agreement borrowings — long-term 76,456 58,334
Credit agreement repayments — long-term (55,130) (57,283)
Repayment of Japanese term loan - long-term   (4,001)
Treasury stock purchased (354) (8,644)
Common stock dividends paid (5,093) (5,066)
Proceeds from the exercise of stock options 147 163
Other financing (10,916)  
Net cash provided by (used in) financing activities 5,110 (16,497)
Effect of exchange rate changes on cash and cash equivalents 2,496 (1,103)
Net decrease in cash and cash equivalents (13,905) (2,389)
Cash and cash equivalents, beginning of period 37,984 53,629
Cash and cash equivalents, end of period $ 24,079 $ 51,240