XML 19 R8.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 1,007 $ 15,968
Adjustments to reconcile net income to net cash used for operating activities:    
Depreciation and amortization 14,673 15,330
Deferred income tax (benefit) provision (1,366) 2,510
Stock-based compensation 269 73
Issuance of treasury stock under 401(k) plan 141 133
Foreign currency translation (gain) loss (6,695) 3,769
(Increase) decrease in assets:    
Accounts receivable (53,083) (65,854)
Inventories (17,557) (26,115)
Prepaid and other current assets (1,611) (2,142)
Other assets 3,152 (1,030)
Increase (decrease) in liabilities:    
Accounts payable 39,370 29,793
Other current liabilities 4,538 (4,421)
Other liabilities 1,543 (3,697)
Net cash used for operating activities (15,619) (35,683)
Cash flows from investing activities:    
Capital expenditures (9,453) (7,807)
Payment related to redeemable noncontrolling interest agreement (25,000) 0
Other 194 794
Net cash used for investing activities (34,259) (7,013)
Cash flows from financing activities:    
Proceeds from borrowings 52,398 16,480
Payment on debt (15,357) (5,720)
Dividends paid (301) (299)
Net cash provided by financing activities 36,740 10,461
Effect of exchange rate changes on cash (232) 1,094
Net decrease in cash and cash equivalents (13,370) (31,141)
Cash and cash equivalents, beginning of period 81,685 143,570
Cash and cash equivalents, end of period 68,315  
Supplemental information:    
Interest paid 1,199 792
Income taxes paid, net of refunds received $ 1,314 $ 2,508