Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 23,767 $ 41,225
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 56,225 51,920
Amortization 10,559 10,536
Amortization of deferred financing costs and original issue discount 1,320 1,548
Debt extinguishment costs 90 0
Foreign currency exchange loss (gain) 531 (41)
Deferred income tax benefit (4,450) (1,011)
Net loss on asset disposals 832 3,326
Stock compensation 10,460 12,547
Equity in net income from affiliated companies (2,543) (16,305)
Dividends received from affiliated companies 33,000 10,000
Other, net (7,859) (5,270)
Working capital changes that provided (used) cash:    
Receivables 7,588 (8,939)
Inventories (7,404) (3,909)
Prepaids and other current assets (8,266) 856
Accounts payable (5,806) (3,694)
Accrued liabilities (1,649) (19,383)
Net cash provided by operating activities 106,395 73,406
Cash flows from investing activities:    
Purchases of property, plant and equipment (51,725) (53,642)
Investment in non-marketable equity securities (4,500) 0
Net cash used in investing activities (56,225) (53,642)
Cash flows from financing activities:    
Draw down of revolving credit facilities 0 14,500
Repayments of revolving credit facilities 0 (14,500)
Issuance of long-term debt, net of original issue discount and financing fees 870,817 0
Repayments of long-term debt (877,500) (6,750)
Repurchases of common shares (5,010) (78,717)
Tax withholdings on equity award vesting (1,218) (3,372)
Repayment of financing obligation (2,354) (2,087)
Other, net 153 457
Net cash used in financing activities (15,112) (90,469)
Effect of exchange rate changes on cash and cash equivalents 51 (1,898)
Net change in cash and cash equivalents 35,109 (72,603)
Cash and cash equivalents at beginning of period 88,365 110,920
Cash and cash equivalents at end of period $ 123,474 $ 38,317