| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Net earnings | ||||||||||
56,446 | 15,877 | 19,708 | 58,854 | 60,438 | 65,780 | 59,066 | 52,947 | 49,928 | 35,481 | 24,995 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ||||||||||
153,383 | 38,292 | 30,118 | - | - | - | - | - | - | - | - |
Cash flows from operating activities: | ||||||||||
Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities of continuing operations: | ||||||||||
Depreciation and amortization | ||||||||||
25,854 | 27,875 | 27,388 | 43,393 | 36,181 | 36,209 | 31,555 | 28,165 | 23,168 | 20,461 | 16,104 |
Amortization of debt issuance costs | ||||||||||
1,996 | 1,806 | 2,014 | 1,536 | 1,548 | - | - | - | - | - | - |
Accretion of convertible notes discount | ||||||||||
2,760 | 2,596 | 3,410 | 2,144 | 2,035 | 1,931 | 1,833 | 1,738 | 1,679 | 172 | 0 |
Provision for doubtful accounts | ||||||||||
788 | 767 | 746 | 2,635 | 1,694 | 853 | 1,286 | 530 | 1,337 | 581 | 113 |
Gain (Loss) on Disposition of Business, Non Cash | ||||||||||
-3,971 | -5,722 | 0 | 0 | - | - | - | - | - | - | - |
Net gain on sale of assets | ||||||||||
-237 | 1,031 | 31 | -11 | 328 | -233 | -142 | -110 | -269 | 448 | -4 |
Impairment of Intangible Assets, Finite-lived | ||||||||||
0 | 10,000 | 0 | 0 | - | - | - | - | - | - | - |
Loss on debt extinguishment | ||||||||||
0 | 0 | -137 | 0 | 0 | - | - | - | - | - | - |
Net loss on derivative instruments | ||||||||||
-302 | -829 | 1,126 | -1,007 | -579 | -1,071 | -178 | 427 | -279 | 1,012 | -1,483 |
Goodwill impairment | ||||||||||
- | - | - | - | - | - | 2,100 | 0 | 0 | 6,371 | 0 |
Stock compensation expense | ||||||||||
4,669 | 5,484 | 4,902 | 5,686 | 6,388 | 5,411 | 4,973 | 5,865 | 6,806 | 4,458 | 3,084 |
Noncash Consideration on Sale of Aircraft | ||||||||||
-3,100 | 0 | 0 | - | - | - | - | - | - | - | - |
Excess tax benefit from share-based compensation arrangements | ||||||||||
- | - | - | - | 327 | 834 | 543 | 883 | 779 | 341 | -55 |
Deferred income taxes | ||||||||||
182 | 7,834 | 27,718 | 7,928 | -1,281 | 1,434 | 2,938 | -1,125 | 5,472 | 12,855 | -1,102 |
Changes in assets and liabilities, excluding effects of acquisitions/divestitures: | ||||||||||
Accounts receivable | ||||||||||
8,173 | 6,020 | 69,431 | 778 | -4,556 | 23,876 | 22,565 | -27,963 | 4,802 | 18,595 | 712 |
Increase (Decrease) in Contract with Customer, Asset | ||||||||||
21,994 | 24,294 | 0 | 0 | - | - | - | - | - | - | - |
increase (Decrease) in Capitalized Contract Cost | ||||||||||
-4,506 | 5,834 | 0 | 0 | - | - | - | - | - | - | - |
Inventories | ||||||||||
25,129 | -7,135 | -22,363 | 11,891 | 2,928 | -30,181 | 19,707 | 18,690 | 12,502 | 19,773 | -24,229 |
Income tax refunds receivable | ||||||||||
6,296 | -1,136 | -3,180 | 2,474 | 3,463 | -2,292 | 2,297 | -527 | -1,893 | 2,420 | -3,450 |
Operating Right-of-Use Assets | ||||||||||
-3,390 | 0 | 0 | - | - | - | - | - | - | - | - |
Other assets | ||||||||||
6,108 | 2,944 | -3,458 | -4,859 | 2,823 | 2,560 | -1,299 | -4,956 | -6,861 | 653 | -944 |
Accounts payable - trade | ||||||||||
14,034 | 10,807 | 7,432 | 693 | 4,697 | -3,858 | 12,170 | 211 | 1,358 | 11,151 | -7,216 |
Contract liabilities | ||||||||||
-26,638 | 96,430 | 0 | 0 | - | - | - | - | - | - | - |
Accrued contract losses | ||||||||||
- | - | - | 745 | 2 | -1,899 | -969 | -435 | - | - | - |
Accrued restructuring costs | ||||||||||
- | - | - | -1,029 | 1,029 | - | - | - | - | - | - |
Advances on contracts | ||||||||||
0 | 0 | -4,829 | 2,082 | 8,868 | -7,065 | 7,570 | -577 | - | - | - |
Operating Lease Liabilities | ||||||||||
-3,423 | 0 | 0 | - | - | - | - | - | - | - | - |
Other current liabilities | ||||||||||
6,085 | -374 | 2,967 | 2,078 | -2,173 | 6,746 | -10,187 | -15,806 | -19,798 | 14,468 | -6,260 |
Income taxes payable | ||||||||||
7,888 | -2,393 | 212 | 351 | -2,403 | 4,455 | -2,024 | -749 | 42 | -4,285 | 3,797 |
Pension liabilities | ||||||||||
4,170 | -38,179 | -11,318 | -9,087 | -2,300 | -6,380 | -3,118 | 56 | -14,150 | -22,690 | 6,581 |
Other long-term liabilities | ||||||||||
6,071 | 5,446 | -628 | -1,036 | -405 | -1,035 | 1,169 | 1,448 | -3,200 | 982 | 905 |
Net Cash Provided by Operating Activities of Continuing Operations | ||||||||||
42,488 | 118,714 | 38,272 | - | - | 109,089 | 64,840 | 85,824 | 43,861 | 36,763 | - |
Net Cash (Used in) Provided by Operating Activities of Discontinued Operations | ||||||||||
-50,288 | 43,654 | 41,613 | - | - | -2,902 | -1,892 | -4,854 | 982 | 593 | - |
Net cash provided by operating activities | ||||||||||
-7,800 | 162,368 | 79,885 | 107,707 | 109,584 | 106,187 | 62,948 | 80,970 | 44,843 | 37,356 | 70,454 |
Cash flows from investing activities: | ||||||||||
Proceeds from sale of assets | ||||||||||
196 | 2,138 | 191 | 201 | 719 | 39 | 100 | 333 | 355 | 1,103 | 59 |
Proceeds from Divestiture of Businesses | ||||||||||
655,030 | 0 | 0 | - | - | 7,863 | 0 | 8,743 | 0 | 0 | - |
Expenditures for property, plant & equipment | ||||||||||
22,447 | 21,504 | 18,010 | 29,777 | 29,932 | 28,283 | 40,852 | 32,386 | 28,816 | 21,472 | 13,567 |
Payments to Acquire Businesses, Net of Cash Acquired | ||||||||||
0 | 0 | 1,365 | 6,631 | 201,252 | 77,618 | 18,162 | 87,621 | 77,672 | 66,549 | 704 |
Other, net | ||||||||||
4,463 | 3,172 | 3,656 | 1,376 | 2,143 | 2,060 | 2,305 | 5,920 | -17 | -22 | 2,055 |
Net Cash Used in Investing Activities of Continuing Operations | ||||||||||
628,316 | -22,538 | -22,840 | - | - | -100,059 | -61,219 | -116,851 | -106,116 | -86,896 | - |
Net Cash Used in Investing Activities of Discontinued Operations | ||||||||||
-9,838 | -7,423 | -8,995 | - | - | 3 | -56 | -1,013 | -16 | -34 | - |
Net cash used in investing activities | ||||||||||
618,478 | -29,961 | -31,835 | -37,583 | -232,608 | -100,056 | -61,275 | -117,864 | -106,132 | -86,930 | -16,267 |
Cash flows from financing activities: | ||||||||||
Net borrowings (repayments) under revolving credit agreements | ||||||||||
-38,500 | -98,087 | -75,988 | -15,147 | 143,025 | 15,788 | 22,720 | -11,348 | 62,021 | -13,200 | -25,777 |
Borrowings under Term Loan Facility | ||||||||||
- | - | - | - | 100,000 | 0 | 0 | 100,000 | 0 | 0 | - |
Debt repayment | ||||||||||
76,875 | 7,500 | 6,875 | 5,000 | 83,750 | 10,000 | 10,000 | 35,000 | 5,000 | 5,000 | 5,000 |
Proceeds from issuance of 2024 convertible notes | ||||||||||
0 | 0 | 200,000 | 0 | 0 | - | - | - | - | 115,000 | 0 |
Repayment of convertible notes | ||||||||||
500 | 0 | 175,151 | 0 | 0 | - | - | - | - | - | - |
Purchase of capped call - 2024 convertible notes | ||||||||||
0 | 0 | -20,500 | 0 | 0 | - | - | - | - | - | - |
Proceeds from bond hedge settlement - 2017 convertible notes | ||||||||||
0 | 0 | 58,564 | 0 | 0 | - | - | - | - | - | - |
Proceeds from issuance of warrants | ||||||||||
- | - | - | - | - | - | - | - | - | 1,886 | 0 |
Purchase of call options related to convertible notes | ||||||||||
- | - | - | - | - | - | - | - | - | 13,225 | 0 |
Net change in bank overdraft | ||||||||||
886 | -279 | -37 | 275 | -3,462 | 1,568 | -9,878 | -2,698 | 4,372 | -1,951 | 1,444 |
Proceeds from exercise of employee stock awards | ||||||||||
19,676 | 7,351 | 7,370 | 9,533 | 4,856 | 6,411 | 6,333 | 7,550 | 5,458 | 2,555 | 1,844 |
Purchase of treasury shares | ||||||||||
30,060 | 19,278 | 11,552 | 13,792 | 12,836 | 853 | 644 | 733 | 5,583 | 0 | 0 |
Dividends paid | ||||||||||
22,343 | 22,349 | 21,462 | 19,510 | 19,026 | 17,286 | 17,091 | 16,882 | 15,199 | 14,501 | 14,338 |
Debt and equity issuance costs | ||||||||||
3,584 | 0 | 7,473 | 0 | 1,348 | 0 | 98 | 2,132 | 715 | 5,878 | 3,404 |
Windfall tax benefit | ||||||||||
- | - | - | - | 327 | 834 | 543 | 883 | 779 | 341 | -55 |
Other, net | ||||||||||
-1,413 | -1,003 | -523 | -318 | -198 | 0 | 0 | 0 | -660 | -638 | 133 |
Net Cash Provided by Financing Activities of Continuing Operations | ||||||||||
-152,713 | -141,145 | -53,627 | - | - | -3,538 | -8,115 | 39,640 | 45,473 | 65,389 | - |
Net Cash (Used in) Provided by Financing Activities of Discontinued Operations | ||||||||||
7,967 | -217 | -1,109 | - | - | 0 | 0 | -1,067 | -1,094 | -80 | - |
Net cash provided by (used in) financing activities | ||||||||||
-144,746 | -141,362 | -54,736 | -43,959 | 127,588 | -3,538 | -8,115 | 38,573 | 44,379 | 65,309 | -45,153 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | ||||||||||
465,932 | -8,955 | -6,686 | 26,165 | 4,564 | 2,593 | -6,442 | 1,679 | -16,910 | 15,735 | 9,034 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
-269 | -238 | 2,385 | -1,422 | -513 | -566 | 233 | -71 | -337 | -1,510 | 812 |