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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 238,620 $ 306,288 $ 279,196
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 73,842 69,080 60,674
Income of investees, net of dividends (3,461) (13,023) (2,147)
Provision for deferred taxes 5,515 40,091 7,890
Recognition of (gains) losses for pension and postretirement plans 49,868 (36,647) 9,548
Stock-based compensation expense 14,127 18,613 16,844
Premium for early redemption of senior notes 0 10,752 0
Recognition of debt issuance costs from former debt instruments 46 4,212 665
Other, net 7,649 1,401 (1,457)
Changes in assets and liabilities, net of effects from acquisitions:      
Accounts receivable 15,167 84,006 (98,302)
Accounts payable (40,495) 28,795 (1,241)
Retainages 4,189 3,875 (8,578)
Contracts in progress and advance billings on contracts (38,615) (67,137) (53,242)
Income taxes (764) 4,116 1,157
Accrued and other current liabilities (18,948) (1,991) 6,843
Pension liabilities, accrued postretirement benefit obligations and employee benefits (68,535) (69,424) (29,311)
Other, net 6,499 3,019 7,903
NET CASH PROVIDED BY OPERATING ACTIVITIES 244,704 386,026 196,442
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (198,312) (311,052) (255,027)
Acquisition of businesses (47,328) 0 (15,905)
Purchases of securities (3,803) (4,739) (4,232)
Sales and maturities of securities 3,813 5,553 6,360
Investments, net of return of capital, in equity method investees (11,450) 0 88
Other, net 844 5,585 3,397
NET CASH USED IN INVESTING ACTIVITIES (256,236) (304,653) (265,319)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings of long-term debt 978,200 1,324,300 844,500
Repayments of long-term debt (878,200) (999,300) (794,676)
Premium for early redemption of senior notes 0 (10,752) 0
Payment of debt issuance costs (2,405) (4,838) (6,803)
Borrowings and repayments of bank overdraft 0 (88,694) 88,694
Repurchases of common stock (20,000) (225,786) (21,960)
Dividends paid to common shareholders (81,074) (79,668) (72,940)
Cash paid for shares withheld to satisfy employee taxes (6,588) (5,042) (5,249)
Settlements of forward contracts, net 24,013 (2,030) (8,802)
Other, net 6 1,674 2,282
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 13,952 (90,136) 25,046
EFFECTS OF EXCHANGE RATE CHANGES ON CASH (1,205) 240 (271)
TOTAL INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS 1,215 (8,523) (44,102)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 39,775 48,298 92,400
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD 40,990 39,775 48,298
Cash paid during the period for:      
Interest 51,343 50,840 38,267
Income taxes (net of refunds) 71,755 44,949 73,589
SCHEDULE OF NON-CASH INVESTING ACTIVITY:      
Accrued capital expenditures included in accounts payable $ 9,588 $ 27,495 $ 51,492