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
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 3,441 $ 556
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 33,154 34,903
Amortization 12,740 13,585
Amortization of inventory step-up 0 1,603
Amortization of deferred financing costs and original issue discount 1,401 1,559
Debt extinguishment costs 0 3,755
Foreign currency exchange (gain) loss (2,689) 5,063
Pension and postretirement healthcare benefit expense 1,176 816
Pension and postretirement healthcare benefit funding (3,372) (3,406)
Deferred income tax provision (benefit) 1,181 (2,607)
Net loss on asset disposals 820 1,152
Stock compensation 3,400 3,831
Equity in net (income) from affiliated companies (2,064) (11,852)
Dividends received from affiliated companies 5,000 10,819
Net interest income on swaps designated as net investment hedges 3,890 0
Other, net (3,644) (2,928)
Working capital changes that provided (used) cash:    
Receivables 1,121 (11,065)
Inventories (19,152) (19,539)
Prepaids and other current assets 2,890 (4,712)
Accounts payable (3,898) (7,044)
Accrued liabilities (777) 7,546
Net cash provided by operating activities 26,838 22,035
Cash flows from investing activities:    
Purchases of property, plant and equipment (33,627) (33,344)
Net interest proceeds on swaps designated as net investment hedges 3,890 0
Other, net 470 209
Net cash used in investing activities (29,267) (33,135)
Cash flows from financing activities:    
Draw down of revolving credit facilities 32,381 38,570
Repayments of revolving credit facilities (28,888) (32,109)
Issuance of long-term debt 0 1,267,000
Debt issuance costs 0 (6,395)
Repayments of long-term debt (5,000) (1,261,624)
Stock repurchases 1,339 58
Other, net 294 0
Net cash (used in) provided by financing activities (2,552) 5,384
Effect of exchange rate changes on cash, cash equivalents and restricted cash (660) (1,511)
Net change in cash, cash equivalents and restricted cash (5,641) (7,227)
Cash, cash equivalents and restricted cash at beginning of period 59,726 67,243
Cash, cash equivalents and restricted cash at end of period $ 54,085 $ 60,016