(2) The Condensed Consolidated Statements of Income for the three and six months ended December 31, 2017 have been retrospectively restated for the adoption of new accounting guidance on improving the presentation of net periodic pension cost and net periodic postretirement benefit cost.
| Condensed Consolidated Statements of Cash Flows | Six Months Ended | ||||||
| (Unaudited) | December 31, | ||||||
| (Amounts in Thousands) | 2018 | 2017 | |||||
| Net Cash Flow (used for) provided by Operating Activities | $ | (4,394 | ) | $ | 11,401 | ||
| Net Cash Flow used for Investing Activities | (52,481 | ) | (14,717 | ) | |||
| Net Cash Flow provided by (used for) Financing Activities | 47,264 | (6,968 | ) | ||||
| Effect of Exchange Rate Change on Cash and Cash Equivalents | (954 | ) | 1,367 | ||||
| Net Decrease in Cash and Cash Equivalents | (10,565 | ) | (8,917 | ) | |||
| Cash and Cash Equivalents at Beginning of Period | 46,428 | 44,555 | |||||
| Cash and Cash Equivalents at End of Period | $ | 35,863 | $ | 35,638 | |||
| (Unaudited) | |||||||
| Condensed Consolidated Balance Sheets |
December 31,
2018 |
June 30,
2018 | |||||
| (Amounts in Thousands) | |||||||
| ASSETS | |||||||
| Cash and cash equivalents | $ | 35,863 | $ | 46,428 | |||
| Receivables, net | 189,717 | 173,559 | |||||
| Contract assets * | 49,629 | — | |||||
| Inventories * | 207,006 | 201,596 | |||||
| Prepaid expenses and other current assets | 18,043 | 15,405 | |||||
| Property and Equipment, net | 140,283 | 137,210 | |||||
| Goodwill | 10,841 | 6,191 | |||||
| Other Intangible Assets, net | 23,727 | 4,375 | |||||
| Other Assets * | 25,563 | 23,994 | |||||
| Total Assets | $ | 700,672 | $ | 608,758 | |||
| LIABILITIES AND SHARE OWNERS’ EQUITY | |||||||
| Borrowings under credit facilities | $ | 89,144 | $ | 8,337 | |||
| Accounts payable | 197,999 | 187,788 | |||||
| Accrued expenses * | 33,846 | 32,446 | |||||
| Long-term income taxes payable | 11,084 | 12,361 | |||||
| Other | 16,022 | 12,299 | |||||
| Share Owners’ Equity * | 352,577 | 355,527 | |||||
| Total Liabilities and Share Owners’ Equity | $ | 700,672 | $ | 608,758 | |||
* The Company adopted new accounting guidance for the recognition of revenue from contracts with customers on a modified retrospective basis as of July 1, 2018. As a result of the adoption of this new guidance, on July 1, 2018, the Company recognized Contract assets of $43.2 million, reduced Inventories by $39.2 million, reduced Other Assets by $0.9 million, increased Accrued expenses by $0.2 million, and increased retained earnings in Share Owners’ Equity by $3.1 million.
