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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net income $ 83,330 $ 62,060
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,488 38,639
Gain on disposition of property, plant and equipment (24) (286)
Stock compensation expense 5,494 5,947
Changes in assets and liabilities, net of the effects of acquisitions:    
Accounts receivable (18,304) (11,036)
Inventories (10,743) 4,755
Prepaid expenses and other current assets (642) (2,378)
Accounts payable 15,717 8,014
Accrued liabilities 8,517 8,512
Deferred income taxes (14,569) (536)
Long-term retirement benefits (12,533) (16,199)
Other 663 (459)
Net cash provided by operating activities 102,394 97,033
Investing activities:    
Proceeds from disposition of property, plant and equipment 205 439
Capital expenditures (27,325) (22,987)
Business acquisitions, net of cash acquired (8,811) (1,546)
Component Repair Program payments 0 (900)
Other (3,000) 0
Net cash used by investing activities (38,931) (24,994)
Financing activities:    
Net change in other borrowings (20,925) (2,349)
Payments on long-term debt (49,311) (127,484)
Proceeds from the issuance of long-term debt 74,716 99,022
Proceeds from the issuance of common stock 1,148 311
Common stock repurchases (5,383) (8,000)
Dividends paid (14,524) (13,450)
Withholding taxes paid on stock issuances (240) (465)
Other (14,451) (2,876)
Net cash used by financing activities (28,970) (55,291)
Effect of exchange rate changes on cash flows 3,865 652
Increase in cash and cash equivalents 38,358 17,400
Cash and cash equivalents at beginning of period 66,447 83,926
Cash and cash equivalents at end of period $ 104,805 $ 101,326