XML 23 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED AND COMBINED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 5 Months Ended 7 Months Ended 12 Months Ended
Jul. 31, 2015
Sep. 30, 2015
Mar. 31, 2015
Dec. 31, 2015
Jul. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:                
Goodwill impairment           $ 62,373    
Successor                
Cash flows from operating activities                
Net (loss) income   $ (14,021)   $ (14,437)   (111,560)    
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:                
Depreciation and amortization       19,434   42,850    
Provision for bad debts       190   1,052    
Stock based compensation for equity classified awards       1,124   3,250    
Pension expense       119   188    
Amortization of inventory fair value adjustment       73,054   30,377    
Amortization of deferred financing cost       911   2,275    
Transaction costs       (4,487)   0    
Accretion of contingent consideration       11,862   30,197    
Decrease in fair value of contingent consideration       (23,692)   (53,608)    
Deferred income taxes       (19,886)   13,792    
Impairment of long lived assets       0   10,795    
Goodwill impairment       0   62,373    
Loss (gain) on sales of property       0   22    
Other       2,556   32    
Changes in operating assets and liabilities:                
Accounts receivable       (42,703)   (4,101)    
Inventories       2,288   (764)    
Prepaid expenses and other current assets       (3,830)   (7,788)    
Accounts payable       13,785   6,357    
Accrued expenses and other liabilities       2,492   2,341    
Income taxes payable       0   (376)    
Other assets and liabilities       0   2,780    
Net cash provided by (used in) operating activities       18,780   30,484    
Cash flows from investing activities:                
Cash paid for property and equipment       (516)   (6,004)    
Proceeds from sale of property       0   76    
Acquisition of business, net of cash acquired       (625,541)   0    
Restricted cash       220,505   0    
Other investments       0   (600)    
Net cash used in investing activities       (405,552)   (6,528)    
Cash flows from financing activities:                
Proceeds from long term debt       425,000   0    
Payment of debt issuance costs       (13,120)   0    
Payment of revolving credit facility fees       (1,266)   0    
Other financing costs       (7,776)   0    
Repayment of long term debt       (2,125)   (4,250)    
Proceeds from private placement       50,000   0    
Borrowings under revolving credit facility       500   0    
Repayments of revolving credit facility       (500)   0    
Insurance premium financing       1,294   0    
Repayment of notes payable       (380)   0    
Repurchase of stock for treasury       (2,397)   (1,488)    
Payment of withholding taxes related to stock-based compensation to employees       0   (331)    
Repurchase of warrants       (2,524)   0    
Cash transfers to/from parent, net       0   0    
Net cash (used in) provided by financing activities       446,706   (6,069)    
Effect of exchange rate changes on cash and cash equivalents       (2,253)   1,660    
Net increase in cash and cash equivalents       57,681   19,547    
Cash and cash equivalents, beginning of period   84   84   57,765    
Cash and cash equivalents, end of period $ 84     57,765 $ 84 77,312 $ 57,765  
Supplemental disclosures of cash flow information:                
Interest       10,411   24,560    
Income taxes       0   3,095    
Supplemental schedule of non-cash investing and financing activities:                
Accrued purchases of property and equipment       0   815    
Issuance of common stock as consideration for acquisition of business       210,000   0    
Acquisition-related contingent consideration       190,150   $ 0    
Predecessor                
Cash flows from operating activities                
Net (loss) income (2,528)   $ 2,480   (14,057)     $ 27,857
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:                
Depreciation and amortization         17,379     30,393
Provision for bad debts         0     0
Stock based compensation for equity classified awards         0     0
Pension expense         0     0
Amortization of inventory fair value adjustment         0     0
Amortization of deferred financing cost         0     0
Transaction costs         0     0
Accretion of contingent consideration         0     0
Decrease in fair value of contingent consideration         0     0
Deferred income taxes         (4,218)   (9,739) (9,739)
Impairment of long lived assets         0     0
Goodwill impairment         0     0
Loss (gain) on sales of property         (12)     0
Other         0     0
Changes in operating assets and liabilities:                
Accounts receivable         42,585     (3,420)
Inventories         (5,756)     (3,719)
Prepaid expenses and other current assets         0     365
Accounts payable         (798)     0
Accrued expenses and other liabilities         0     0
Income taxes payable         (36,070)     0
Other assets and liabilities         (4,651)     14,074
Net cash provided by (used in) operating activities         (5,598)     55,811
Cash flows from investing activities:                
Cash paid for property and equipment         (676)     (1,300)
Proceeds from sale of property         63     0
Acquisition of business, net of cash acquired         0     0
Restricted cash         0     0
Other investments         0     0
Net cash used in investing activities         (613)     (1,300)
Cash flows from financing activities:                
Proceeds from long term debt         0     0
Payment of debt issuance costs         0     0
Payment of revolving credit facility fees         0     0
Other financing costs         0     0
Repayment of long term debt         0     0
Proceeds from private placement         0     0
Borrowings under revolving credit facility         0     0
Repayments of revolving credit facility         0     0
Insurance premium financing         0     0
Repayment of notes payable         0     0
Repurchase of stock for treasury         0     0
Payment of withholding taxes related to stock-based compensation to employees         0     0
Repurchase of warrants         0     0
Cash transfers to/from parent, net         6,211     (54,511)
Net cash (used in) provided by financing activities         6,211     (54,511)
Effect of exchange rate changes on cash and cash equivalents         0     0
Net increase in cash and cash equivalents         0     0
Cash and cash equivalents, beginning of period   $ 0 $ 0 $ 0 0   $ 0 0
Cash and cash equivalents, end of period $ 0       0     0
Supplemental disclosures of cash flow information:                
Interest         0     0
Income taxes         0     0
Supplemental schedule of non-cash investing and financing activities:                
Accrued purchases of property and equipment         0     0
Issuance of common stock as consideration for acquisition of business         0     0
Acquisition-related contingent consideration         $ 0     $ 0