| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||
Net income | ||||||||
243,503 | 86,252 | 106,386 | 171,915 | 127,338 | 62,505 | 123,981 | 65,041 | 80,280 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation of plant and equipment | ||||||||
155,903 | 149,318 | 136,886 | 122,880 | - | - | - | - | - |
Amortization of intangible assets | ||||||||
30,898 | 32,895 | 25,293 | 13,668 | - | - | - | - | - |
Depreciation and amortization | ||||||||
- | - | - | - | 95,435 | 63,124 | 51,036 | 45,245 | 54,667 |
Stock-based compensation expense | ||||||||
14,910 | 8,938 | 9,835 | 6,956 | 5,203 | 5,242 | 3,985 | 3,592 | 2,377 |
Excess tax deficiency / (benefit) from stock-based compensation | ||||||||
- | -207 | 1,649 | 2,649 | 3,531 | 8,037 | 1,332 | 585 | - |
Amortization of debt issuance costs | ||||||||
4,787 | 4,804 | 5,546 | 5,696 | 4,489 | 3,479 | 2,482 | 2,237 | 5,980 |
Loss on debt extinguishment | ||||||||
-1,305 | -679 | -1,218 | -5,617 | - | - | - | - | - |
Loss on disposal of assets | ||||||||
-5,372 | -3,599 | -951 | -4,252 | -1,012 | -1,202 | -910 | -876 | -800 |
Deferred income taxes | ||||||||
-157,918 | -14,440 | 11,042 | 2,455 | 59,865 | 23,128 | 41,766 | -24,062 | 19,459 |
Inventory step-up expense | ||||||||
- | - | 5,800 | - | - | - | - | - | - |
Change in fair value of contingent consideration liability | ||||||||
5,794 | 1,600 | 3,700 | - | - | - | - | - | - |
Equity method investments income, net of cash received | ||||||||
-98 | 548 | - | - | - | - | - | - | - |
Plant closure costs | ||||||||
7,522 | - | - | - | - | - | - | - | - |
Provision for bad debt expense | ||||||||
3,024 | 881 | 368 | - | - | - | - | - | - |
Pension and postretirement | ||||||||
-3,292 | -3,694 | -11,182 | -11,523 | -3,908 | 1,489 | 880 | - | - |
Multiemployer pension plan withdrawal expense | ||||||||
- | 6,376 | - | - | - | - | - | - | - |
Changes in assets and liabilities: | ||||||||
Gain on sale of business | ||||||||
- | - | - | - | - | - | - | - | 16,417 |
Trade accounts receivable, net | ||||||||
51,040 | 27,452 | -8,960 | -3,649 | 11,133 | 1,796 | 5,778 | 8,232 | -10,288 |
Other receivables | ||||||||
7,945 | -2,685 | 1,596 | 1,434 | -6,374 | -1,186 | 2,722 | -13,707 | 13,398 |
Inventories | ||||||||
-6,904 | -13,700 | 13,086 | 22,973 | -2,934 | 1,248 | 3,528 | 11,947 | -23,465 |
Prepaid expenses and other current assets | ||||||||
-296 | -17,063 | 13,375 | 767 | -9,488 | 5,601 | 239 | -12,696 | -446 |
Other assets | ||||||||
843 | 993 | -478 | 1,433 | 382 | 452 | 639 | 624 | 1,031 |
Accounts payable | ||||||||
9,676 | -12,782 | -13,352 | -5,705 | -6,191 | 9,163 | -8,979 | 3,357 | 10,641 |
Accrued expenses and other liabilities | ||||||||
10,952 | 11,806 | 16,155 | 6,072 | -3,364 | 10,572 | -68,871 | 2,186 | -11,506 |
Accrued compensation costs | ||||||||
30,075 | -15,364 | -7,120 | 7,620 | 15,065 | -6,127 | 3,424 | 10,510 | -5,967 |
Accrued income taxes | ||||||||
15,487 | 17,271 | -8,433 | 8,902 | - | - | - | - | - |
Net cash provided by operating activities | ||||||||
325,468 | 281,920 | 262,457 | 313,198 | 298,694 | 157,829 | 136,376 | 136,076 | 201,235 |
Investing activities | ||||||||
Equity method investments | ||||||||
- | 11,807 | - | - | - | - | - | - | - |
Purchase of intangible assets | ||||||||
- | 2,525 | - | - | - | - | - | - | - |
Other liabilities | ||||||||
- | - | - | - | - | - | - | 22,079 | 41,151 |
CKD acquisition | ||||||||
- | - | - | - | - | - | - | 638 | 1,000 |
KPB acquisition earn-out payment | ||||||||
- | - | - | - | - | - | 49,700 | - | 3,977 |
Proceeds from sale of business | ||||||||
- | - | - | - | - | - | - | - | 34,898 |
Capital expenditures | ||||||||
138,358 | 126,865 | 126,756 | 137,232 | 96,706 | 67,237 | 42,531 | 38,318 | 29,165 |
Acquisition, net of cash acquired | ||||||||
33,500 | 15,438 | 617,046 | - | - | 314 | 331,632 | - | - |
Proceeds from the sale of property | ||||||||
472 | 4,881 | - | - | - | - | - | - | - |
Restricted cash | ||||||||
- | - | - | - | - | - | - | -2,500 | 2,500 |
Net cash used in investing activities | ||||||||
-171,386 | -151,754 | -743,802 | -137,232 | -634,945 | -67,551 | -423,863 | -35,180 | 256 |
Financing activities | ||||||||
Proceeds from revolving credit facility | ||||||||
422,000 | 451,000 | 350,000 | 97,900 | 321,613 | 142,900 | 7,600 | 76,700 | 80,000 |
Repayments on revolving credit facility | ||||||||
422,000 | 457,400 | 343,600 | 97,900 | 385,113 | 79,400 | 7,600 | 84,100 | 85,000 |
Proceeds from receivables credit facility | ||||||||
89,914 | 43,001 | 134,701 | 175,000 | - | - | - | - | - |
Repayments on receivables credit facility | ||||||||
50,338 | 39,342 | 36,088 | 8,000 | - | - | - | - | - |
Proceeds from long-term debt | ||||||||
- | - | 519,763 | - | 1,275,000 | - | 375,000 | - | - |
Repayments on long-term debt | ||||||||
155,000 | 64,687 | 116,438 | 328,525 | 356,550 | 50,000 | 134,582 | 30,002 | 283,093 |
Repayments on long-term debt | ||||||||
- | - | - | - | 507,520 | - | - | - | - |
Cash dividend paid | ||||||||
- | - | - | - | - | 94,910 | - | - | - |
Payment of loan amendment fee | ||||||||
1,488 | 2,250 | 10,790 | 1,081 | 19,654 | 569 | 13,819 | - | 370 |
Proceeds from other current borrowings | ||||||||
6,214 | - | 6,615 | 6,300 | 5,115 | 3,398 | 2,273 | 2,564 | - |
Repayments on other current borrowings | ||||||||
6,214 | - | 6,615 | 6,300 | 5,115 | 3,398 | 2,273 | 2,564 | - |
Repayments on long-term financing obligations | ||||||||
495 | - | - | - | - | - | - | - | - |
Repayments on capital lease obligation | ||||||||
22 | - | - | - | - | - | - | - | - |
Cash dividends paid | ||||||||
38,722 | 38,736 | 38,729 | 223 | - | - | - | - | - |
Payment of withholding taxes on vested stock awards | ||||||||
1,884 | 810 | 2,508 | 1,755 | 860 | 9,496 | 952 | 624 | - |
Proceeds from exercises of warrants into common stock | ||||||||
- | - | - | - | - | - | - | - | 85,217 |
Proceeds from exercises of stock options | ||||||||
1,686 | 858 | 896 | 869 | 1,934 | 1,345 | 1,264 | 1,282 | 30 |
Proceeds from shares issued to ESPP | ||||||||
947 | 971 | 843 | 600 | 349 | 241 | 192 | 70 | - |
Loan amendment costs | ||||||||
- | - | - | - | - | - | 244 | -111 | - |
Excess tax (deficiency)/ benefit from stock-based compensation | ||||||||
- | -207 | 1,649 | 2,649 | 3,531 | 8,037 | 1,332 | 585 | - |
Net cash used in financing activities | ||||||||
-155,402 | -107,602 | 459,699 | -160,466 | 332,730 | -81,852 | 228,191 | -35,978 | -203,216 |
Net decrease in cash and cash equivalents | ||||||||
-1,320 | 22,564 | -21,646 | 15,500 | -3,521 | 8,426 | -59,296 | 64,918 | -1,725 |