XML 17 R7.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Operating Activities    
Net Income Attributable to Kadant $ 27,204 $ 23,207
Net income attributable to noncontrolling interest 262 292
Net income 27,466 23,499
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,541 11,943
Stock-based compensation expense 3,467 3,610
Right-of-use asset amortization 2,169 0
Provision for losses on accounts receivable 39 438
(Gain) loss on the sale of property, plant, and equipment (189) 54
Other items, net (1,318) (869)
Changes in current assets and liabilities, net of effects of acquisitions:    
Accounts receivable (2,855) (974)
Unbilled revenues 2,131 2,228
Inventories (9,326) (14,238)
Other current assets (3,417) (2,781)
Accounts payable 3,419 4,039
Other current liabilities (5,639) 8,622
Net cash provided by operating activities 32,488 35,571
Investing Activities    
Acquisition, net of cash acquired (Note 2) (176,855) 0
Purchases of property, plant, and equipment (4,143) (10,211)
Proceeds from sale of property, plant, and equipment 368 213
Net cash used in investing activities (180,630) (9,998)
Financing Activities    
Proceeds from issuance of long-term obligations 191,000 16,000
Repayment of long-term obligations (24,562) (47,096)
Tax withholding payments related to stock-based compensation (2,670) (3,641)
Dividends paid (5,014) (4,756)
Proceeds from issuance of Company common stock 1,697 742
Payment of debt issuance costs (52) 0
Net cash provided by (used in) financing activities 160,399 (38,751)
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash (236) (2,516)
Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash 12,021 (15,694)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period 46,117 76,846
Cash, Cash Equivalents, and Restricted Cash at End of Period $ 58,138 $ 61,152