Schedule I - Condensed Financial Information of Parent (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| Schedule of Condensed Statements of Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
2022 |
|
2021 |
|
2020 |
| Stock compensation expense |
$ |
20,632 |
|
|
$ |
39,523 |
|
|
$ |
25,200 |
|
| Equity in net (income) loss from subsidiaries |
(94,329) |
|
|
100,426 |
|
|
253,571 |
|
| Net income (loss) |
73,697 |
|
|
(139,949) |
|
|
(278,771) |
|
| Other comprehensive income (loss), net of tax: |
|
|
|
|
|
| Pension and postretirement benefits |
(2,676) |
|
|
9,530 |
|
|
1,710 |
|
| Net gain from hedging activities |
24,382 |
|
|
2,914 |
|
|
1,177 |
|
| Foreign currency translation |
(9,922) |
|
|
(2,248) |
|
|
(2,804) |
|
| Total other comprehensive income |
11,784 |
|
|
10,196 |
|
|
83 |
|
| Comprehensive income (loss) |
$ |
85,481 |
|
|
$ |
(129,753) |
|
|
$ |
(278,688) |
|
|
|
|
|
|
|
|
| Schedule of Condensed Balance Sheets |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2022 |
|
December 31,
2021 |
| ASSETS |
|
|
|
|
|
|
|
| Investment in subsidiaries |
$ |
707,229 |
|
|
$ |
740,737 |
|
| Total assets |
$ |
707,229 |
|
|
$ |
740,737 |
|
| LIABILITIES |
|
|
|
|
|
|
|
| Total liabilities |
$ |
— |
|
|
$ |
— |
|
| STOCKHOLDERS' EQUITY |
|
|
|
Common stock (0.01 par); authorized shares 450,000,000; issued shares 139,571,272 and 137,820,971 on December 31, 2022 and 2021, respectively; outstanding shares 122,186,238 and 136,938,758 on December 31, 2022 and 2021, respectively |
1,396 |
|
|
1,378 |
|
Preferred stock (0.01 par); authorized shares 50,000,000; no shares issued or outstanding on December 31, 2022 and 2021, respectively |
— |
|
|
— |
|
| Additional paid-in capital |
1,091,475 |
|
|
1,073,409 |
|
| Accumulated deficit |
(242,010) |
|
|
(315,707) |
|
Treasury stock, at cost; shares 17,385,034 and 882,213 on December 31, 2022 and 2021, respectively |
(149,624) |
|
|
(12,551) |
|
| Accumulated other comprehensive (loss) income |
5,992 |
|
|
(5,792) |
|
| Total equity |
707,229 |
|
|
740,737 |
|
| Total liabilities and equity |
$ |
707,229 |
|
|
$ |
740,737 |
|
|
|
|
|
|
| Schedule of Condensed Statements of Cash Flow |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
2022 |
|
2021 |
|
2020 |
| Cash flows from operating activities: |
|
|
|
|
|
| Net income (loss) |
$ |
73,697 |
|
|
$ |
(139,949) |
|
|
$ |
(278,771) |
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
| Equity in net income from subsidiaries |
(94,329) |
|
|
100,426 |
|
|
253,571 |
|
| Stock compensation expense |
20,632 |
|
|
39,523 |
|
|
25,200 |
|
| Net cash provided by operating activities |
— |
|
|
— |
|
|
— |
|
| Cash flows from investing activities: |
|
|
|
|
|
| Distribution from subsidiaries |
— |
|
|
435,593 |
|
|
243,749 |
|
| Net cash provided by investing activities |
— |
|
|
435,593 |
|
|
243,749 |
|
| Cash flows from financing activities: |
|
|
|
|
|
| Dividends paid to stockholders |
— |
|
|
(435,593) |
|
|
(243,749) |
|
| Net cash used in financing activities |
— |
|
|
(435,593) |
|
|
(243,749) |
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
— |
|
|
— |
|
|
— |
|
| Net change in cash, cash equivalents and restricted cash |
— |
|
|
— |
|
|
— |
|
| Cash, cash equivalents and restricted cash at beginning of period |
— |
|
|
— |
|
|
— |
|
| Cash, cash equivalents and restricted cash at end of period of continuing operations |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|