XML 22 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED AND COMBINED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
5 Months Ended 7 Months Ended 12 Months Ended
Dec. 31, 2015
Jul. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities        
Net (loss) income $ (14,437)      
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:        
Depreciation and amortization 16,763      
Provision for bad debts 190      
Stock-based compensation 1,124      
Pension Expense 119      
Amortization of inventory fair value adjustment 73,054      
Deferred financing costs 130      
Transaction costs (4,787)      
Accretion of fees and discounts on long-term debt 781      
Accretion of contingent consideration 11,862      
Decrease in contingent consideration (23,692)      
Deferred income taxes (19,886)      
Loss on sales of property 0      
Other 2,856      
Changes in operating assets and liabilities (net of effects of acquisition):        
Accounts receivable (42,703)      
Inventories 2,288      
Prepaid expenses and other current assets (1,159)      
Accounts payable 13,785      
Accrued expenses and other liabilities 2,492      
Income taxes payable 0      
Other assets and liabilities 0      
Net cash provided by (used in) operating activities 18,780      
Cash flows from investing activities:        
Cash paid for property and equipment (516)      
Proceeds from sale of property 0      
Acquisition of business, net of cash acquired (625,541)      
Restricted cash 220,505      
Net cash used in investing activities (405,552)      
Cash flows from financing activities:        
Proceeds from long term debt 425,000      
Payment of debt issue costs (13,120)      
Payment of revolving credit facility fees (1,266)      
Other financing costs (7,776)      
Repayment of long term debt (2,125)      
Proceeds from private placement 50,000      
Borrowings under revolving credit facility 500      
Repayments of revolving credit facility (500)      
Insurance premium financing 1,294      
Repayment of notes payable (380)      
Repurchase of stock for treasury (2,397)      
Repurchase of warrants (2,524)      
Cash transfers to/from parent, net 0      
Net cash provided by (used in) financing activities 446,706      
Effect of exchange rate changes on cash and cash equivalents (2,253)      
Net (decrease)/increase in cash and cash equivalents 57,681      
Cash and cash equivalents, beginning of period 84      
Cash and cash equivalents, end of period 57,765 $ 84    
Supplemental disclosures of cash flow information:        
Interest 10,411      
Income taxes 0      
Supplemental schedule of non-cash investing and financing activities:        
Issuance of common stock as consideration for acquisition of business 210,000      
Acquisition-related contingent consideration 190,150      
Predecessor        
Cash flows from operating activities        
Net (loss) income   (14,057) $ 27,857 $ 27,456
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:        
Depreciation and amortization   17,379 30,393 30,785
Provision for bad debts   0    
Stock-based compensation   0    
Pension Expense   0    
Amortization of inventory fair value adjustment   0    
Deferred financing costs   0    
Transaction costs   0    
Accretion of fees and discounts on long-term debt   0    
Accretion of contingent consideration   0    
Decrease in contingent consideration   0    
Deferred income taxes   (4,218) (9,739) (8,714)
Loss on sales of property   (12)    
Other   0    
Changes in operating assets and liabilities (net of effects of acquisition):        
Accounts receivable   42,585 (3,420) (16,911)
Inventories   (5,756) (3,719) (2,921)
Prepaid expenses and other current assets   0 365 283
Accounts payable   (798)    
Accrued expenses and other liabilities   0    
Income taxes payable   (36,070)    
Other assets and liabilities   (4,651) 14,074 3,467
Net cash provided by (used in) operating activities   (5,598) 55,811 33,445
Cash flows from investing activities:        
Cash paid for property and equipment   (676) (1,300) (992)
Proceeds from sale of property   63    
Acquisition of business, net of cash acquired   0    
Restricted cash   0    
Net cash used in investing activities   (613) (1,300) (992)
Cash flows from financing activities:        
Proceeds from long term debt   0    
Payment of debt issue costs   0    
Payment of revolving credit facility fees   0    
Other financing costs   0    
Repayment of long term debt   0    
Proceeds from private placement   0    
Borrowings under revolving credit facility   0    
Repayments of revolving credit facility   0    
Insurance premium financing   0    
Repayment of notes payable   0    
Repurchase of stock for treasury   0    
Repurchase of warrants   0    
Cash transfers to/from parent, net   6,211 (54,511) (32,453)
Net cash provided by (used in) financing activities   6,211 $ (54,511) $ (32,453)
Effect of exchange rate changes on cash and cash equivalents   0    
Net (decrease)/increase in cash and cash equivalents   0    
Cash and cash equivalents, beginning of period $ 0      
Cash and cash equivalents, end of period   0    
Supplemental disclosures of cash flow information:        
Interest   0    
Supplemental schedule of non-cash investing and financing activities:        
Issuance of common stock as consideration for acquisition of business   0    
Acquisition-related contingent consideration   $ 0