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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net loss from continuing operations $ (20,057) $ (38,169)
Net (loss) income from discontinued operations (60,442) 46,742
Net (loss) income attributable to stockholders (80,499) 8,573
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization of long-lived assets 4,807 9,517
Impairment of long-lived assets 9,904 0
Amortization of deferred financing costs and debt discount 2,308 2,508
Amortization of guaranty fee 108 1,367
Non-cash operating lease expense 3,411 3,655
Loss on debt extinguishment 0 6,124
Loss (gain) on sale of business 35,848 (40,174)
Loss on asset disposals 326 47
(Benefit from) provision for deferred income taxes (471) 2,514
Prior service cost amortization for pension and postretirement plans 247 462
Stock-based compensation 1,488 2,689
Foreign exchange (5,675) 834
Unrealized gain (loss) on securities 2,164 (160)
Bad debt expense 632 449
Changes in operating assets and liabilities:    
Accounts receivable - trade, net (2,574) (3,891)
Contracts in progress 9,824 (17,362)
Other current and noncurrent assets (3,022) (11,216)
Advance billings on contracts (1,127) (14,950)
Inventories, net (7,878) 472
Income taxes (40) 4,649
Accounts payable (909) 35,287
Accrued and other current liabilities 8,085 (11,968)
Accrued contract loss (3,601) (4,659)
Pension liabilities, accrued postretirement benefits and employee benefits (6,948) (2,374)
Other, net (195) 862
Net cash used in operating activities (33,787) (26,745)
Investing Activities:    
Purchase of property, plant and equipment (7,076) (7,970)
Purchases of securities (4,650) (3,194)
Sales and maturities of securities 2,314 3,723
Proceeds from sale of business and assets, net 20,061 83,477
Net cash provided by investing activities 10,649 76,036
Financing Activities:    
Borrowings on loan payable 53,432 138,961
Repayments on loan payable (46,572) (43,164)
Finance lease payments (819) (673)
Payment of holdback funds from acquisition 0 (2,950)
Payment of preferred stock dividends (3,715) (7,429)
Shares of common stock returned to treasury stock 0 (16)
Issuance of common stock, net 5,487 2,033
Payment of non-controlling interest dividends (121) 0
Debt issuance costs (5,138) (5,064)
Other, net 26 (78)
Net cash provided by financing activities 2,580 81,620
Effects of exchange rate changes on cash 301 (191)
Net (decrease) increase in cash, cash equivalents and restricted cash (20,257) 130,720
Cash, cash equivalents and restricted cash at beginning of period 131,064 71,369
Cash, cash equivalents and restricted cash at end of period [1] 110,807 202,089
Schedule of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 23,429 95,466
Current restricted cash 77,140 75,332
Long-term restricted cash 10,238 31,291
Total cash, cash equivalents and restricted cash at end of period [1] 110,807 202,089
Supplemental cash flow information:    
Income taxes paid, net 4,035 4,253
Interest paid $ 18,513 $ 16,226
[1]
(1) Includes cash held at discontinued operations of $1.7 million and $2.1 million at June 30, 2025 and 2024, respectively.