Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Oct. 02, 2015 |
| Statement of Cash Flows [Abstract] |
|
|
| Net earnings |
$ 43,727
|
$ 51,664
|
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
33,732
|
27,809
|
| Accretion of convertible notes discount |
1,598
|
1,516
|
| Provision for doubtful accounts |
1,021
|
1,925
|
| Net (gain)/loss on sale of assets |
10
|
(415)
|
| Net loss on derivative instruments |
783
|
423
|
| Stock compensation expense |
4,711
|
5,304
|
| Excess tax benefit from share-based compensation arrangements |
(302)
|
(324)
|
| Deferred income taxes |
3,993
|
(2,001)
|
| Changes in assets and liabilities, excluding effects of acquisitions/divestitures: |
|
|
| Accounts receivable |
(12,011)
|
1,583
|
| Inventories |
(10,050)
|
(10,430)
|
| Income tax refunds receivable |
883
|
(3,493)
|
| Other current assets |
1,271
|
(7,421)
|
| Accounts payable - trade |
967
|
18,051
|
| Accrued contract losses |
468
|
28
|
| Advances on contracts |
3,573
|
11,511
|
| Other accruals and payables |
6,556
|
(5,807)
|
| Income taxes payable |
28
|
529
|
| Pension liabilities |
(9,318)
|
(4,225)
|
| Other long-term liabilities |
(1,624)
|
(2,323)
|
| Net cash provided by operating activities |
70,016
|
83,904
|
| Cash flows from investing activities: |
|
|
| Proceeds from sale of assets |
190
|
660
|
| Expenditures for property, plant & equipment |
(23,926)
|
(23,130)
|
| Acquisition of businesses (net of cash acquired) |
(6,631)
|
(11,877)
|
| Other, net |
(442)
|
(696)
|
| Cash used in investing activities |
(30,809)
|
(35,043)
|
| Cash flows from financing activities: |
|
|
| Net borrowings (repayments) under revolving credit agreements |
(12,959)
|
(43,291)
|
| Proceeds from issuance of long-term debt |
0
|
100,000
|
| Debt repayment |
(3,750)
|
(82,500)
|
| Net change in book overdraft |
3,427
|
(3,537)
|
| Proceeds from exercise of employee stock awards |
7,094
|
4,024
|
| Purchase of treasury shares |
(8,989)
|
(8,642)
|
| Dividends paid |
(14,625)
|
(14,140)
|
| Debt issuance costs |
0
|
(1,348)
|
| Other |
(246)
|
(117)
|
| Windfall tax benefit |
302
|
324
|
| Cash provided by (used in) financing activities |
(29,746)
|
(49,227)
|
| Net increase in cash and cash equivalents |
9,461
|
(366)
|
| Effect of exchange rate changes on cash and cash equivalents |
(372)
|
(466)
|
| Cash and cash equivalents at beginning of period |
16,462
|
$ 12,411
|
| Cash and cash equivalents at end of period |
$ 25,551
|
|