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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 38,818 $ 38,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,677 21,366
Gain on disposition of property, plant and equipment (158) (46)
Stock compensation expense 2,501 2,490
Changes in assets and liabilities:    
Accounts receivable (26,841) (15,252)
Inventories (13,920) (7,329)
Prepaid expenses and other current assets (6,028) 734
Accounts payable 4,488 8,064
Accrued liabilities 10,494 5,117
Deferred income taxes (66) (705)
Long-term retirement benefits (2,213) (1,812)
Other (269) 906
Net cash provided by operating activities 30,483 51,836
Investing activities:    
Proceeds from disposition of property, plant and equipment 552 170
Capital expenditures (11,210) (11,727)
Other 1,000 0
Net cash used by investing activities (11,658) (11,557)
Financing activities:    
Net change in other borrowings 9,169 (24,947)
Payments on long-term debt (111,845) (24,768)
Proceeds from the issuance of long-term debt 87,500 47,550
Proceeds from the issuance of common stock 317 379
Common stock repurchases (33,541) (5,383)
Dividends paid (7,453) (6,997)
Withholding taxes paid on stock issuances (68) (106)
Other (6,546) (5,828)
Net cash used by financing activities (62,467) (20,100)
Effect of exchange rate changes on cash flows 3,053 1,657
(Decrease) increase in cash and cash equivalents (40,589) 21,836
Cash and cash equivalents at beginning of period 145,290 66,447
Cash and cash equivalents at end of period $ 104,701 $ 88,283