XML 23 R7.htm IDEA: XBRL DOCUMENT v3.20.4
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 $ 14,055 $ 23,425 $ 22,817
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 37,739 37,112 38,439
Amortization 11,053 11,315 13,400
Provision for doubtful accounts 2,160 8,608 1,712
Deferred income taxes (7,312) (2,367) 7,628
Asset impairments 6,950 834 96
Insurance recoveries   (5,000)  
(Gain) loss on the sale of property, plant and equipment (155) 53 (262)
Stock-based compensation expense 10,398 10,194 10,089
Changes in operating assets and liabilities, net of effects from business acquisitions:      
Accounts receivable 13,586 134,926 (33,952)
Contract assets 18,282 (20,979) 6,414
Inventories (10,799) (5,238) (43,264)
Prepaid expenses and other assets 4,080 2,494 10,238
Accounts payable (15,553) (121,860) 61,391
Advance payments from customers 46,611 9,254 7,275
Accrued liabilities (9,826) 19,623 (1,497)
Operating leases 724 1,029  
Income taxes (1,555) (10,287) (23,837)
Net cash provided by operations 120,438 93,136 76,687
Cash flows from investing activities:      
Proceeds from sales of investments at par   50 522
Additions to property, plant and equipment (34,584) (32,576) (62,808)
Proceeds from the sale of property, plant and equipment 368 259 239
Additions to purchased software (4,935) (2,542) (3,924)
Cash received from business divestitures 4,714    
Business acquisitions, net of cash acquired     (2,731)
Other 54 (54) (147)
Net cash used in investing activities (34,383) (34,863) (68,849)
Cash flows from financing activities:      
Proceeds from stock options exercised 958 1,585 3,631
Employee taxes paid for shares withheld (2,236) (2,231) (1,408)
Dividends paid (23,041) (23,287) (21,005)
Borrowings under credit agreement 110,000   50,000
Borrowings under finance leases 864    
Principal payments on credit agreement (117,500) (5,626) (106,999)
Principal payments on finance leases (1,351) (1,168) (1,025)
Share repurchases (25,220) (122,110) (211,858)
Debt issuance costs     (2,303)
Net cash used in financing activities (57,526) (152,837) (290,967)
Effect of exchange rate changes 3,505 418 (1,315)
Net increase (decrease) in cash and cash equivalents and restricted cash 32,034 (94,146) (284,444)
Cash and cash equivalents and restricted cash at beginning of year 363,956 458,102 742,546
Cash and cash equivalents and restricted cash at end of year $ 395,990 $ 363,956 $ 458,102