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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities:    
Net income $ 98,888 $ 96,974
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,949 59,249
Gain on disposition of property, plant and equipment (475) (1,269)
Stock compensation expense 8,620 6,934
Changes in assets and liabilities, net of the effect of acquisitions:    
Accounts receivable (18,461) 2,221
Inventories 4,626 (3,593)
Prepaid expenses and other current assets (296) (7,617)
Accounts payable 9,799 8,667
Accrued liabilities, deferred revenue and customer advances 13,028 (8,026)
Deferred income taxes 998 4,741
Long-term retirement benefits (16,026) (166)
Other 461 2,481
Net cash provided by operating activities 160,111 160,596
Investing activities:    
Proceeds from disposition of property, plant and equipment 715 3,311
Capital expenditures (32,920) (31,412)
Business acquisitions, net of cash acquired (120,675) (43,485)
Component Repair Program payments (900) (19,000)
Net cash used by investing activities (153,780) (90,586)
Financing activities:    
Net change in other borrowings (9,321) 2,491
Payments on long-term debt (263,578) (137,699)
Proceeds from the issuance of long-term debt 288,982 107,766
Proceeds from the issuance of common stock 2,463 11,183
Common stock repurchases (15,660) (12,082)
Dividends paid (20,444) (19,713)
Withholding taxes paid on stock issuances (4,881) (4,898)
Other 3,406 6,341
Net cash used by financing activities (19,033) (46,611)
Effect of exchange rate changes on cash flows 717 (3,675)
(Decrease) increase in cash and cash equivalents (11,985) 19,724
Cash and cash equivalents at beginning of period 83,926 46,039
Cash and cash equivalents at end of period 71,941 $ 65,763
Liabilities recognized in connection to acquisition $ 12,436