v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 180,289 $ 153,988
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,375 51,171
Income of investees, net of dividends (15,925) (2,700)
(Gain) loss on asset disposals and impairments, net 123 (4,418)
Recognition of losses for pension and postretirement plans 1,958 1,627
Stock-based compensation expense 20,117 13,735
Other, net 4,451 (9,366)
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable 6,691 (465)
Accounts payable 71,430 6,875
Retainages (15,992) (7,045)
Contracts in progress and advance billings on contracts (35,408) 7,754
Income taxes 670 22,558
Accrued and other current liabilities (4,228) 19,382
Pension liabilities, accrued postretirement benefit obligations and employee benefits (36,448) (33,656)
Other, net 10,900 (9,747)
NET CASH PROVIDED BY OPERATING ACTIVITIES 249,003 209,693
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (83,937) (66,098)
Acquisition of businesses, net of cash acquired 0 (538,184)
Sales and maturities of securities 0 3,397
Investments, net of return of capital, in equity method investees (180) (33,000)
Other, net (322) 4,405
NET CASH USED IN INVESTING ACTIVITIES (84,439) (629,480)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings of long-term debt 0 758,400
Repayments of long-term debt 0 (284,650)
Repurchases of common stock 0 (30,000)
Dividends paid to common shareholders (50,444) (46,798)
Cash paid for shares withheld to satisfy employee taxes (19,532) (12,883)
Settlements of forward contracts, net 10,263 1,657
Other, net 2,715 100
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (56,998) 385,826
EFFECTS OF EXCHANGE RATE CHANGES ON CASH 1,503 (2,475)
TOTAL INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS 109,069 (36,436)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 507,204 80,571
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD 616,273 44,135
Cash paid during the period for:    
Interest 17,505 30,036
Income taxes (net of refunds) 38,329 11,890
SCHEDULE OF NON-CASH INVESTING ACTIVITY:    
Accrued capital expenditures included in accounts payable $ 20,832 $ 15,575