XML 24 R8.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (21,971) $ 23,732 $ (37,049)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 18,181 18,495 18,493
Impairment expense 0 0 29,017
Noncash amortization of debt financing costs 350 1,008 1,929
Pension plan settlement 9,202 0 0
Payment in kind interest expense 0 2,254 5,431
Shared-based compensation expense 5,805 6,254 3,460
Deferred income taxes 12,480 2,078 (12,129)
Noncash loss (gain) on forward exchange contracts (43) (788) 299
Loss on extinguishment of debt 921 7,155 0
Settlement of derivative contract 3,900 0 0
Change in other operating items:      
Accounts receivable 19,173 (23,569) (34,284)
Inventories (3,675) (50,283) (6,828)
Prepaid expenses 966 (1,910) 2,896
Accounts payable 21,842 (11,570) 48,046
Accrued liabilities (912) 4,438 8,650
Other operating activities, net 2,728 (7,126) 6,441
Net cash (used in) provided by operating activities 68,947 (29,832) 34,372
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (19,710) (17,653) (7,142)
Proceeds from disposal/sale of property, plant and equipment 0 87 722
Net cash used in investing activities (19,710) (17,566) (6,420)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings under term loan facility 30,625 150,000 0
Borrowings under revolving credit facility 65,200 86,200 0
Repayment of revolving credit facility (114,600) (36,800) 0
Borrowings under ABL revolving credit facility 0 11,300 15,000
Repayment of ABL revolving credit facility 0 (11,300) (15,000)
Surrender of common stock by employees (1,342) (1,279) (663)
Debt extinguishment payments and early payment fees on debt 0 (3,031) 0
Debt issuance and amendment costs (648) (2,333) (2,779)
Contingent consideration payment (4,750) (5,000) (1,000)
Other financing activities, net (201) (342) (445)
Net cash provided by (used in) financing activities (50,091) 31,011 (19,262)
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH (2,279) 842 2,302
NET INCREASE (DECREASE) IN CASH (3,133) (15,545) 10,992
CASH:      
Beginning of period 34,958 50,503 39,511
End of period 31,825 34,958 50,503
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for interest 9,305 8,460 12,193
Cash paid for income taxes, net 4,041 4,109 2,483
Unpaid purchases of property and equipment included in accounts payable 1,701 1,063 131
Term loan facility      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of term loan facility (24,375) (3,750) 0
2023 term loan facility      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of term loan facility $ 0 $ (152,654) $ (14,375)