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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES      
Net income $ 88,055 $ 111,610 $ 96,508
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 82,452 70,374 62,480
Amortization 6,842 6,359 6,569
Change in deferred taxes and other liabilities (15,331) (2,046) (8,496)
Impairment of property, plant, equipment, and inventory 2,038 1,773 1,808
Non-cash interest expense 1,025 1,404 1,118
Non-cash portion of pension settlement expense 0 0 42,657
Compensation and benefits paid or payable in Class A Common Stock 4,715 6,936 4,527
Provision/(recovery) for credit losses from uncollected receivables and contract assets 310 640 1,408
Foreign currency remeasurement (gain)/loss on intercompany loans 81 (2,831) (4,434)
Fair value adjustment on foreign currency options 0 (139) (509)
Gain on sale of assets (513) 0 0
Changes in operating assets and liabilities that provided/(used) cash, net of impact of business acquisition:      
Accounts receivable 31,764 (11,038) (14,301)
Contract assets 12,289 (32,156) (36,434)
Inventories 14,627 15,093 (24,541)
Prepaid expenses and other current assets 4,002 1,530 (4,134)
Income taxes prepaid and receivable (8,574) (2,897) (6,005)
Accounts payable (3,084) (5,672) 8,572
Accrued liabilities (1,275) (10,441) 3,226
Income taxes payable 6,918 (1,988) 183
Noncurrent receivables (780) 3,723 3,911
Other noncurrent liabilities (7,702) (9,783) (10,133)
Other, net 582 7,605 4,234
Net cash provided by operating activities 218,441 148,056 128,214
INVESTING ACTIVITIES      
Purchase of business, net of cash acquired 0 (133,470) 0
Purchases of property, plant and equipment (80,249) (83,560) (93,675)
Purchased software (958) (869) (2,673)
Proceeds received from sale of assets 1,027 0 0
Net cash used in investing activities (80,180) (217,899) (96,348)
FINANCING ACTIVITIES      
Proceeds from borrowings 145,595 78,040 162,000
Principal payments on debt (279,838) (92,274) (73,000)
Principal payments on finance lease liabilities 0 0 (654)
Debt acquisition costs 0 (4,108) 0
Purchase of Treasury shares (14,175) 0 (84,780)
Taxes paid in lieu of share issuance (2,931) (3,136) (770)
Proceeds from options exercised 0 0 17
Dividends paid (32,483) (31,163) (26,465)
Net cash used in financing activities (183,832) (52,641) (23,652)
Effect of exchange rate changes on cash and cash equivalents (12,566) 4,128 (18,474)
Increase/(decrease) in cash and cash equivalents (58,137) (118,356) (10,260)
Cash and cash equivalents at beginning of period 173,420 291,776 302,036
Cash and cash equivalents at end of period $ 115,283 $ 173,420 $ 291,776