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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities    
Net income [1] $ 81,661 $ 77,787
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 57,121 55,196
Deferred compensation 5,263 12,595
Realized and unrealized gains on long-term investments (3,677) (720)
Stock-based compensation 6,248 8,055
Deferred income taxes 7,132 4,169
Other non-cash items 3,738 292
Changes in assets and liabilities:    
Receivables, net (37,713) (30,270)
Inventories 14,789 (12,485)
Other current assets (631) (308)
Accounts payable and accrued liabilities (5,872) 5,142
Pension liabilities (2,141) 415
Environmental and legal liabilities (392) 498
Deferred revenues (843) (846)
Net Cash Provided By Operating Activities [2] 124,683 119,520
Cash Flows From Investing Activities    
Expenditures for property, plant and equipment (57,902) (69,761)
Business acquisition (Note 15) (4,339)  
Other, net (759) (2,788)
Net Cash Used In Investing Activities (63,000) (72,549)
Cash Flows From Financing Activities    
Revolving debt and bank overdrafts, net (7,309) 1,014
Other debt repayments (5,714) (6,193)
Dividends paid (13,841) (12,732)
Company stock repurchased (4,500) (2,408)
Stock option exercises 3,127 3,290
Other, net (1,649) (275)
Net Cash Used In Financing Activities [2] (29,886) (17,304)
Effect of Exchange Rate Changes on Cash 6,560 1,190
Net Increase in Cash and Cash Equivalents 38,357 30,857
Cash and Cash Equivalents at Beginning of Period 225,743 176,143
Cash and Cash Equivalents at End of Period 264,100 207,000
Supplemental Cash Flow Information    
Cash payments of income taxes, net of refunds 22,377 18,577
Cash payments of interest $ 9,113 $ 9,592
[1] The 2016 amounts for the noted items have been immaterially changed from the amounts originally reported as a result of the Company’s fourth quarter 2016 adoption of Accounting Standards Update (ASU) No. 2016-9, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.
[2] The amounts for the nine months ended September 30, 2016 have been immaterially changed from the originally reported amounts as a result of the Company’s fourth quarter 2016 adoption of ASU No.2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.