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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 279,196 $ 244,677 $ 227,305
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 60,674 61,722 60,097
Income of investees, net of dividends (2,147) (7,969) (8,106)
Provision for deferred taxes 7,890 3,794 17,446
Recognition of losses for pension and postretirement plans 9,548 6,222 34,554
Stock-based compensation expense 16,844 12,726 11,883
Other, net (792) 963 (2,238)
Changes in assets and liabilities, net of effects from acquisitions:      
Accounts receivable (98,302) 15,605 37,282
Accounts payable (1,241) 44,592 1,888
Retainages (8,578) 11,477 24,911
Contracts in progress and advance billings on contracts (53,242) (78,645) (34,012)
Income taxes 1,157 (3,833) (23,257)
Accrued and other current liabilities 6,843 (14,135) 11,596
Pension liabilities, accrued postretirement benefit obligations and employee benefits (29,311) (8,822) (187,425)
Other, net 7,903 (9,006) (2,634)
NET CASH PROVIDED BY OPERATING ACTIVITIES 196,442 279,368 169,290
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (255,027) (182,124) (109,338)
Acquisition of businesses (15,905) 0 (212,993)
Purchases of securities (4,232) (4,208) (4,520)
Sales and maturities of securities 6,360 5,874 3,933
Investments, net of return of capital, in equity method investees 88 255 (9,059)
Other, net 3,397 208 5,253
NET CASH USED IN INVESTING ACTIVITIES (265,319) (179,995) (326,724)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings of long-term debt 844,500 699,600 1,158,800
Repayments of long-term debt (794,676) (654,095) (876,206)
Payment of debt issuance costs (6,803) 0 (9,443)
Bank overdraft 88,694 0 0
Repurchases of common shares (21,960) (20,000) (214,759)
Dividends paid to common shareholders (72,940) (65,374) (63,821)
Exercises of stock options 2,812 4,446 3,573
Cash paid for shares withheld to satisfy employee taxes (5,249) (9,190) (6,796)
Other, net (9,332) 900 (671)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 25,046 (43,713) (9,323)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH (271) 332 (9,979)
TOTAL (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS (44,102) 55,992 (176,736)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 92,400 36,408 213,144
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD 48,298 92,400 36,408
Cash paid during the period for:      
Interest 38,267 39,670 16,993
Income taxes (net of refunds) 73,589 70,056 58,715
SCHEDULE OF NON-CASH INVESTING ACTIVITY:      
Accrued capital expenditures included in accounts payable $ 51,492 $ 39,528 $ 29,470