XML 23 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities:      
Net income $ 10,073 $ 66,333 $ 4,963
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 48,486 42,712 40,388
Loss on asset sales and disposals 287 567 674
Change in accounts receivable 8,660 (6,312) (1,808)
Change in inventories 5,979 (12,006) (10,828)
Change in accounts payable (481) (3,466) 5,088
Accrued interest and amortization of discounts and finance fees (1,086) 1,291 2,039
Call premium on senior notes 0 0 37,348
Write-off of finance fees on senior notes 0 0 9,086
Pension & non-pension postretirement benefits, net (2,513) 18,865 (879)
Restructuring 0 0 (289)
Accrued liabilities & prepaid expenses 4,032 4,140 (7,222)
Income taxes 6,296 (45,003) 885
Share-based compensation expense 4,766 5,917 5,283
Excess tax benefit from share-based compensation, operating (366) (2,797) 0
Other operating activities (1,490) (4,142) (2,857)
Net cash provided by operating activities 82,643 66,099 81,871
Investing activities:      
Additions to property, plant and equipment (34,604) (48,136) (54,393)
Proceeds from furnace malfunction insurance recovery 0 0 2,350
Proceeds from asset sales and other 0 7 24
Net cash used in investing activities (34,604) (48,129) (52,019)
Financing activities:      
Borrowings on ABL credit facility 6,000 62,900 83,000
Repayments on ABL credit facility (6,000) (62,900) (83,000)
Other repayments (350) (3,267) (5,863)
Other borrowings 339 0 5,214
Payments on 6.875% senior notes 0 0 (405,000)
Proceeds from Term Loan B 0 0 438,900
Repayments on Term Loan B (24,400) (4,400) (2,200)
Call premium on senior notes 0 0 (37,348)
Stock options exercised 1,400 3,338 4,571
Excess tax benefit from share-based compensation, financing 366 2,797 0
Debt issuance costs and other 0 0 (6,959)
Dividends (10,070) (9,597) 0
Treasury shares purchased (2,000) (15,275) (1,060)
Net cash used in financing activities (34,715) (26,404) (9,745)
Effect of exchange rate fluctuations on cash (1,357) (2,566) (2,271)
Increase (decrease) in cash 11,967 (11,000) 17,836
Cash & cash equivalents at beginning of year 49,044 60,044 42,208
Cash & cash equivalents at end of year 61,011 49,044 60,044
Supplemental disclosure of cash flow information:      
Cash paid during the year for interest, net of capitalized interest 21,553 16,545 20,302
Cash paid during the year for income taxes $ 7,559 $ 5,516 $ 7,228