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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Net income $ 33,992 $ 38,818
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25,100 23,677
Loss (gain) on disposition of property, plant and equipment 91 (158)
Stock compensation expense 3,021 2,501
Changes in assets and liabilities:    
Accounts receivable 4,345 (26,841)
Inventories 7,300 (13,920)
Prepaid expenses and other current assets (2,670) (6,028)
Accounts payable (9,179) 4,488
Accrued liabilities (4,708) 10,494
Deferred income taxes (872) (66)
Long-term retirement benefits (3,428) (2,213)
Other 68 (269)
Net cash provided by operating activities 53,060 30,483
Investing activities:    
Proceeds from disposition of property, plant and equipment 322 552
Capital expenditures (13,738) (11,210)
Other 0 (1,000)
Net cash used by investing activities (13,416) (11,658)
Financing activities:    
Net change in other borrowings 20,903 9,169
Payments on long-term debt (152,195) (111,845)
Proceeds from the issuance of long-term debt 102,990 87,500
Proceeds from the issuance of common stock 986 317
Common stock repurchases 0 (33,541)
Dividends paid (8,217) (7,453)
Withholding taxes paid on stock issuances (80) (68)
Other (1,340) (6,546)
Net cash used by financing activities (36,953) (62,467)
Effect of exchange rate changes on cash flows 97 3,053
Increase (decrease) in cash and cash equivalents 2,788 (40,589)
Cash and cash equivalents at beginning of period 100,719 145,290
Cash and cash equivalents at end of period $ 103,507 $ 104,701