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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 45,658 $ 117,377
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 66,045 75,692
(Gain) loss on disposition of property, plant and equipment (303) 35
Stock compensation expense 8,094 9,740
Seeger divestiture charges 6,620 0
Changes in assets and liabilities, net of the effects of divestitures:    
Accounts receivable 103,161 9,741
Inventories (11,616) 6,145
Prepaid expenses and other current assets (10,168) (12,494)
Accounts payable (24,476) (19,541)
Accrued liabilities (7,981) (216)
Deferred income taxes (5,032) (2,617)
Long-term retirement benefits (2,517) (16,862)
Long-term tax liability (6,949) (6,949)
Other 2,871 1,298
Net cash provided by operating activities 163,407 161,349
Investing activities:    
Proceeds from disposition of property, plant and equipment 580 233
Proceeds from the sale of businesses, net of cash sold 36,879 0
Investment in restricted cash (6,621) 0
Capital expenditures (30,170) (37,722)
Business acquisitions, net of cash acquired 0 (6,061)
Net cash provided (used) by investing activities 668 (43,550)
Financing activities:    
Net change in other borrowings 6,794 16,415
Payments on long-term debt (194,279) (290,593)
Proceeds from the issuance of long-term debt 50,000 230,625
Proceeds from the issuance of common stock 1,661 2,458
Common stock repurchases (15,550) (50,347)
Dividends paid (24,302) (24,414)
Withholding taxes paid on stock issuances (3,177) (5,913)
Other (2,217) (13,034)
Net cash used by financing activities (181,070) (134,803)
Effect of exchange rate changes on cash flows 675 (3,247)
Decrease in cash and cash equivalents (16,320) (20,251)
Cash and cash equivalents at beginning of period 93,805 100,719
Cash and cash equivalents at end of period $ 77,485 $ 80,468