| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | ||||||||||
Net earnings (loss) | ||||||||||
549,000 | 836,000 | 479,000 | 573,000 | 404,000 | 338,000 | 261,000 | 146,000 | -100,000 | 131,000 | 124,000 |
Adjustments to reconcile to net cash provided by (used in) operating activities | ||||||||||
Depreciation | ||||||||||
180,000 | 167,000 | 165,000 | 163,000 | 154,000 | 166,000 | 206,000 | 165,000 | 164,000 | 160,000 | 156,000 |
Amortization of purchased intangibles | ||||||||||
47,000 | 36,000 | 40,000 | 23,000 | 26,000 | 28,000 | 20,000 | 19,000 | 20,000 | 23,000 | 30,000 |
Amortization of debt issuance costs | ||||||||||
3,000 | 4,000 | 6,000 | 5,000 | 8,000 | 11,000 | 9,000 | 9,000 | 6,000 | 0 | 0 |
Provision for doubtful accounts | ||||||||||
-6,000 | -4,000 | 10,000 | - | - | - | - | - | - | - | - |
Stock-based compensation | ||||||||||
30,000 | 36,000 | 34,000 | 36,000 | 43,000 | 34,000 | 44,000 | 41,000 | 42,000 | 0 | 0 |
Deferred income taxes | ||||||||||
97,000 | 10,000 | 184,000 | -85,000 | 15,000 | 22,000 | 28,000 | -79,000 | -23,000 | 21,000 | 98,000 |
Excess tax benefit related to stock-based compensation | ||||||||||
- | - | - | - | - | - | 24,000 | - | 0 | - | - |
Proceeds from insurance settlement related to investing activities | ||||||||||
- | - | - | - | -21,000 | 0 | -58,000 | - | 0 | - | - |
Goodwill impairment | ||||||||||
29,000 | - | - | - | 102,000 | 47,000 | - | - | 290,000 | 0 | 0 |
Loss on early extinguishment of debt | ||||||||||
- | - | -22,000 | - | -44,000 | -37,000 | - | - | - | - | - |
Change in | ||||||||||
Accounts Receivable | ||||||||||
51,000 | -195,000 | 126,000 | 16,000 | 41,000 | -140,000 | 218,000 | 194,000 | -17,000 | 190,000 | 56,000 |
Contract assets | ||||||||||
-32,000 | 242,000 | -91,000 | 6,000 | - | - | - | - | - | - | - |
Inventoried costs | ||||||||||
11,000 | -40,000 | -18,000 | -75,000 | -54,000 | -53,000 | -51,000 | 116,000 | -87,000 | 5,000 | 101,000 |
Prepaid expenses and other assets | ||||||||||
93,000 | 40,000 | 52,000 | 17,000 | 31,000 | -7,000 | 15,000 | -6,000 | 30,000 | -2,000 | 1,000 |
Accounts payable and accruals | ||||||||||
4,000 | 335,000 | 102,000 | -41,000 | 97,000 | -86,000 | 69,000 | -14,000 | 50,000 | 205,000 | -111,000 |
Retiree benefits | ||||||||||
80,000 | -454,000 | -163,000 | -44,000 | 32,000 | -4,000 | -86,000 | -43,000 | 132,000 | 39,000 | -28,000 |
Other non-cash transactions, net | ||||||||||
-6,000 | 5,000 | -4,000 | 14,000 | -5,000 | -6,000 | -5,000 | -2,000 | -1,000 | -5,000 | 3,000 |
Net cash provided by (used in) operating activities | ||||||||||
896,000 | 914,000 | 814,000 | 822,000 | 861,000 | 755,000 | 236,000 | 332,000 | 528,000 | 359,000 | -88,000 |
Investing Activities | ||||||||||
Capital expenditures | ||||||||||
Capital expenditure additions | ||||||||||
530,000 | 463,000 | 382,000 | 285,000 | 188,000 | 165,000 | 139,000 | 162,000 | 197,000 | 191,000 | 181,000 |
Grant proceeds for capital expenditures | ||||||||||
94,000 | 61,000 | 21,000 | - | - | - | - | - | - | - | - |
Acquisitions of businesses, net of cash received | ||||||||||
195,000 | 77,000 | -3,000 | 372,000 | 6,000 | 272,000 | - | - | - | - | - |
Investment in affiliates | ||||||||||
- | 10,000 | - | - | - | - | - | - | - | - | - |
Proceeds from disposition of assets | ||||||||||
- | 13,000 | 9,000 | 4,000 | 32,000 | - | - | - | - | - | - |
Proceeds from insurance settlement related to investing activities | ||||||||||
- | - | - | - | 21,000 | - | 58,000 | - | 0 | - | - |
Other investing activities, net | ||||||||||
4,000 | - | - | - | - | - | - | - | - | -2,000 | -3,000 |
Net cash provided by (used in) investing activities | ||||||||||
-627,000 | -476,000 | -349,000 | -653,000 | -141,000 | -437,000 | -81,000 | -162,000 | -197,000 | -189,000 | -178,000 |
Financing Activities | ||||||||||
Proceeds from issuance of long-term debt | ||||||||||
- | - | 600,000 | - | 600,000 | 600,000 | - | - | 1,775,000 | 0 | 0 |
Repayment of long-term debt | ||||||||||
- | - | 600,000 | - | 995,000 | 679,000 | 51,000 | 29,000 | 22,000 | 0 | 0 |
Proceeds from revolving credit facility borrowings | ||||||||||
5,119,000 | 95,000 | - | - | - | - | - | - | - | - | - |
Repayment of revolving credit facility borrowings | ||||||||||
5,119,000 | 95,000 | - | - | - | - | - | - | - | - | - |
Debt issuance costs | ||||||||||
- | - | 12,000 | - | 21,000 | 12,000 | 5,000 | - | 54,000 | 0 | 0 |
Premiums and fees related to early extinguishment of debt | ||||||||||
- | - | 15,000 | - | 33,000 | 31,000 | - | - | - | - | - |
Dividends paid | ||||||||||
149,000 | 132,000 | 115,000 | 98,000 | 81,000 | 49,000 | 25,000 | 5,000 | 0 | 0 | - |
Repurchases of common stock | ||||||||||
262,000 | 742,000 | 286,000 | 194,000 | 232,000 | 138,000 | 119,000 | 1,000 | 0 | 0 | - |
Employee taxes on certain share-based payment arrangements | ||||||||||
23,000 | 25,000 | 56,000 | 51,000 | 54,000 | 64,000 | - | - | - | - | - |
Proceeds from stock option exercises | ||||||||||
- | - | - | - | - | 2,000 | 7,000 | 7,000 | 2,000 | 0 | 0 |
Excess tax benefit related to stock-based compensation | ||||||||||
- | - | - | - | - | - | 24,000 | - | 0 | - | - |
Proceeds from issuance of note payable to former parent | ||||||||||
- | - | - | - | - | - | - | - | - | 178,000 | 0 |
Repayment of notes payable to former parent and accrued interest | ||||||||||
- | - | - | - | - | - | - | - | 954,000 | 178,000 | 0 |
Dividend to former parent in connection with spin-off | ||||||||||
- | - | - | - | - | - | - | - | 1,429,000 | 0 | 0 |
Net transfers from (to) former parent | ||||||||||
- | - | - | - | - | - | - | - | 1,266,000 | -170,000 | 266,000 |
Net cash provided by (used in) financing activities | ||||||||||
-434,000 | -899,000 | -484,000 | -343,000 | -816,000 | -371,000 | -169,000 | -28,000 | 584,000 | -170,000 | 266,000 |
Change in cash and cash equivalents | ||||||||||
-165,000 | -461,000 | -19,000 | -174,000 | -96,000 | -53,000 | -14,000 | 142,000 | 915,000 | 0 | 0 |
Supplemental Cash Flow Disclosure | ||||||||||
Cash paid for income taxes | ||||||||||
137,000 | 142,000 | 223,000 | 229,000 | 242,000 | 161,000 | 154,000 | 28,000 | 46,000 | 0 | 0 |
Cash paid for interest | ||||||||||
75,000 | 62,000 | 72,000 | 71,000 | 96,000 | 113,000 | 109,000 | 111,000 | 64,000 | 16,000 | 16,000 |
Non-Cash Investing and Financing Activities | ||||||||||
Capital expenditures accrued in accounts payable | ||||||||||
22,000 | 55,000 | 33,000 | 24,000 | 17,000 | 9,000 | 12,000 | 20,000 | 48,000 | 44,000 | 47,000 |
Accrued repurchases of common stock | ||||||||||
- | 48,000 | 2,000 | - | - | - | - | - | - | - | - |
Capital assets received from government grants | ||||||||||
- | - | - | 30,000 | - | - | - | - | - | - | - |