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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 49,411 $ (21,971) $ 23,732
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,630 18,181 18,495
Noncash amortization of debt financing costs 303 350 1,008
Pension plan settlement 2,942 9,202 0
Payment in kind interest expense 0 0 2,254
Shared-based compensation expense 3,846 5,805 6,254
Deferred income taxes (20,699) 12,480 2,078
Noncash gain on forward exchange contracts (535) (43) (788)
Loss on extinguishment of debt 0 921 7,155
Settlement of derivative contract 0 3,900 0
Change in other operating items:      
Accounts receivable 18,819 19,173 (23,569)
Inventories 15,000 (3,675) (50,283)
Prepaid expenses (5,123) 966 (1,910)
Accounts payable (44,079) 21,842 (11,570)
Accrued liabilities 11,078 (912) 4,438
Other operating activities, net (10,317) 2,728 (7,126)
Net cash provided by (used in) operating activities 38,276 68,947 (29,832)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (19,696) (19,710) (17,653)
Proceeds from disposal/sale of property, plant and equipment 0 0 87
Net cash used in investing activities (19,696) (19,710) (17,566)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings under term loan facility 0 30,625 150,000
Borrowings under revolving credit facility 25,000 65,200 86,200
Repayment of revolving credit facility (25,000) (114,600) (36,800)
Borrowings under ABL revolving credit facility 0 0 11,300
Repayment of ABL revolving credit facility 0 0 (11,300)
Borrowings under China credit facility 4,368 0 0
Repayment of China credit facility (4,368) 0 0
Surrender of common stock by employees (1,636) (1,342) (1,279)
Debt extinguishment payments and early payment fees on debt 0 0 (3,031)
Debt issuance and amendment costs 0 (648) (2,333)
Contingent consideration payment 0 (4,750) (5,000)
Other financing activities, net (155) (201) (342)
Net cash (used in) provided by financing activities (12,729) (50,091) 31,011
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH 172 (2,279) 842
NET INCREASE (DECREASE) IN CASH 6,023 (3,133) (15,545)
CASH:      
Beginning of period 31,825 34,958 50,503
End of period 37,848 31,825 34,958
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for interest 12,849 9,305 8,460
Cash paid for income taxes, net 10,889 4,041 4,109
Unpaid purchases of property and equipment included in accounts payable 1,021 1,701 1,063
Term loan facility      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of term loan facility (10,938) (24,375) (3,750)
2023 term loan facility      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of term loan facility $ 0 $ 0 $ (152,654)