| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
41,347 | 66,244 | 146,699 | 34,147 | 63,776 | ||
Adjustments to reconcile net income to net cash (used for) provided by operating activities: | ||||||
Depreciation and amortization | ||||||
56,826 | 53,233 | 48,455 | 40,329 | 36,410 | ||
Loss on disposal of assets | ||||||
-5,190 | -1,992 | -1,500 | -1,529 | -1,308 | ||
Deferred income taxes | ||||||
8,442 | 9,558 | -7,513 | 11,534 | 9,913 | ||
Stock based compensation | ||||||
8,349 | 10,131 | 7,742 | 1,327 | 0 | ||
Accretion of deferred financing fees | ||||||
-427 | -1,802 | -592 | -148 | 0 | ||
Restructuring charges | ||||||
11,020 | 0 | 0 | - | - | ||
Changes in assets and liabilities: | ||||||
Accounts and other receivables | ||||||
-53,676 | -35,712 | 64,320 | 3,948 | -38,399 | ||
Inventories | ||||||
35,567 | 7,974 | 230 | -21,253 | -5,021 | ||
Accounts payable | ||||||
-20,333 | 2,280 | 8,087 | 23,846 | -38,689 | ||
Income taxes payable | ||||||
- | - | - | 86 | 0 | ||
Accrued liabilities | ||||||
-4,561 | -6,111 | 9,617 | 281 | 500 | ||
Deferred income and customer advances | ||||||
-2,860 | 5,362 | -8,373 | 360 | -6,783 | ||
Other assets and liabilities | ||||||
1,571 | -1,156 | 7,649 | 17,152 | 8,319 | ||
Net cash provided by operating activities | ||||||
120,385 | 173,385 | 134,607 | 113,740 | 101,536 | ||
Cash flows from investing activities: | ||||||
Expenditures for property, plant and equipment | ||||||
150,322 | 109,215 | 86,438 | 84,009 | 97,144 | ||
Other investing activities | ||||||
2,803 | 2,976 | 6,809 | 2,372 | 1,086 | ||
Net cash used for investing activities | ||||||
-153,125 | -112,191 | -93,247 | -86,381 | -98,230 | ||
Cash flows from financing activities: | ||||||
Proceeds from long-term debt | ||||||
- | - | - | 270,000 | 0 | ||
Payments of long-term debt | ||||||
0 | 266,625 | 0 | 3,375 | 0 | ||
Borrowings from line of credit | ||||||
419,250 | 345,000 | 308,500 | 58,000 | 0 | ||
Payments of line of credit | ||||||
322,250 | 145,000 | 308,500 | 58,000 | 0 | ||
Payment of line of credit facility fees | ||||||
0 | 1,361 | 0 | 1,881 | 0 | ||
Payment of line of credit facility fees | ||||||
- | - | - | 1,080 | 0 | ||
Principal payments of finance leases | ||||||
4,839 | 308 | 127 | 165 | 0 | ||
Purchase of treasury stock | ||||||
62,196 | 38,524 | 0 | 0 | - | ||
Issuance of common stock | ||||||
17 | 0 | 0 | - | - | ||
Distribution to Honeywell in connection with the Spin-Off | ||||||
- | - | - | 269,347 | 0 | ||
Net decrease in invested equity | ||||||
- | - | - | 7,312 | 2,936 | ||
Other financing activities | ||||||
- | - | - | - | -370 | ||
Net cash provided by (used for) financing activities | ||||||
29,982 | -106,818 | -127 | -13,160 | -3,306 | ||
Net change in cash and cash equivalents | ||||||
-2,758 | -45,624 | 41,233 | 14,199 | 0 | ||
Supplemental non-cash investing activities: | ||||||
Capital expenditures included in accounts payable | ||||||
21,594 | 27,258 | 25,222 | 28,485 | 22,282 | ||
Supplemental cash activities: | ||||||
Cash paid for interest | ||||||
5,201 | 5,855 | 7,236 | 1,862 | 0 | ||
Cash paid for income taxes | ||||||
6,993 | 7,315 | 12,982 | 0 | 0 | ||