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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net (loss) income $ (44,873) $ 30,511
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 59,563 46,913
Gain on disposition of property, plant and equipment (50) (180)
Stock compensation expense 6,464 4,832
Non-cash goodwill impairment charge 53,694 0
Gain on the sale of businesses (5,545) 0
Changes in assets and liabilities, net of the effects of acquisition:    
Accounts receivable (12,173) (18,102)
Inventories (23,011) (9,743)
Prepaid expenses and other current assets (12,532) (5,183)
Accounts payable 2,862 (2,300)
Accrued liabilities (645) 16,745
Deferred income taxes 3,454 779
Long-term retirement benefits (10,336) (10,636)
Long-term tax liability (17,372) (13,029)
Other 3,550 1,860
Net cash provided by operating activities 3,050 42,467
Investing activities:    
Proceeds from disposition of property, plant and equipment 344 149
Proceeds from the sale of businesses, net of cash sold 146,041 0
Capital expenditures (29,854) (21,617)
Business acquisitions, net of cash acquired 159 0
Other 0 (722)
Net cash provided (used) by investing activities 116,690 (22,190)
Financing activities:    
Net change in other borrowings 6,568 7,775
Payments on long-term debt (233,207) (112,927)
Proceeds from the issuance of long-term debt 110,000 101,208
Proceeds from the issuance of common stock 122 189
Dividends paid (16,229) (16,195)
Withholding taxes paid on stock issuances (141) (376)
Cash settlement of foreign currency hedges related to intercompany financing 9,967 1,176
Other (232) (2,588)
Net cash used by financing activities (143,086) (24,090)
Effect of exchange rate changes on cash flows (2,784) (466)
Decrease in cash, cash equivalents and restricted cash (26,130) (4,279)
Cash, cash equivalents and restricted cash at beginning of period 92,039 81,128
Cash, cash equivalents and restricted cash at end of period 65,909 76,849
Less: Restricted cash, included in Prepaid expenses and other current assets 0 (2,176)
Cash and cash equivalents at end of period $ 65,909 $ 74,673