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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES      
Net income $ 96,508 $ 118,768 $ 97,243
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 62,480 65,130 63,328
Amortization 6,569 9,125 9,377
Change in deferred taxes and other liabilities (8,496) 12,181 11,101
Impairment of property, plant, equipment, and inventory 1,808 856 1,173
Non-cash interest expense 1,118 875 (290)
Non-cash portion of pension settlement expense 42,657 0 411
Compensation and benefits paid or payable in Class A Common Stock 4,527 3,146 1,505
Provision/(recovery) for credit losses from uncollected receivables and contract assets 1,408 (1,299) 1,628
Foreign currency remeasurement (gain)/loss on intercompany loans (4,434) (3,150) 14,246
Fair value adjustment on foreign currency options (509) 169 0
Changes in operating assets and liabilities that provided/(used) cash:      
Accounts receivable (14,301) (7,734) 31,522
Contract assets (36,434) 25,446 (59,122)
Inventories (24,541) (9,942) (13,685)
Prepaid expenses and other current assets (4,134) (998) (7,811)
Income taxes prepaid and receivable (6,005) 3,944 113
Accounts payable 8,572 9,492 (15,586)
Accrued liabilities 3,226 (774) (3,856)
Income taxes payable 183 (477) 5,939
Noncurrent receivables 3,911 4,355 4,158
Other noncurrent liabilities (10,133) (13,713) (2,437)
Other, net 4,234 2,075 1,296
Net cash provided by operating activities 128,214 217,475 140,253
INVESTING ACTIVITIES      
Purchases of property, plant and equipment (93,675) (52,793) (41,463)
Purchased software (2,673) (906) (927)
Net cash used in investing activities (96,348) (53,699) (42,390)
FINANCING ACTIVITIES      
Proceeds from borrowings 162,000 8,000 75,000
Principal payments on debt (73,000) (56,009) (101,020)
Principal payments on finance lease liabilities (654) (1,438) (7,214)
Debt acquisition costs 0 0 (2,432)
Purchase of Treasury shares (84,780) (23,449) 0
Taxes paid in lieu of share issuance (770) (998) (490)
Proceeds from options exercised 17 153 55
Dividends paid (26,465) (25,894) (24,568)
Net cash used in financing activities (23,652) (99,635) (60,669)
Effect of exchange rate changes on cash and cash equivalents (18,474) (3,421) 8,582
Increase/(decrease) in cash and cash equivalents (10,260) 60,720 45,776
Cash and cash equivalents at beginning of period 302,036 241,316 195,540
Cash and cash equivalents at end of period $ 291,776 $ 302,036 $ 241,316