XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 6,002 $ 2,410
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 3,610 4,222
Stock-based compensation expense 961 51
Amortization of debt issuance costs and debt discount 486 887
Loss on debt extinguishment 395 5,048
Deferred income tax 642 (177)
Other, net 768 200
Changes in operating assets and liabilities:    
Accounts receivable (10,300) (5,884)
Inventories (12,579) (8,885)
Prepaid expenses and other assets (2,057) 107
Income taxes, net 932 1,359
Accounts payable 4,173 3,705
Accrued expenses (8,840) (2,790)
Deferred revenue and customer deposits (684) (556)
Other liabilities 530 447
Cash (used in) provided by operating activities (15,961) 144
Investing activities    
Capital expenditures for plant, equipment and leasehold improvements (3,154) (2,524)
Other 5 155
Cash used in investing activities (3,149) (2,369)
Financing activities    
Principal payments on First Lien Term Loan   (312,500)
Principal payments on Senior Credit Facility   (30,000)
Principal payments on Senior Notes (20,000)  
Proceeds from Senior Notes   310,000
Proceeds from ABL Revolver, net of discount 30,000 14,750
Debt issuance costs (262) (9,452)
Payments on debt extinguishment and other (600) (2,685)
Proceeds from finance lease financing 2,074  
Payments on finance lease obligations (649) (610)
Cash provided by (used in) financing activities 10,563 (30,497)
Effect of exchange rates on cash   3
Net decrease in cash and cash equivalents (8,547) (32,719)
Cash and cash equivalents, beginning of period 20,683 57,603
Cash and cash equivalents, end of period 12,136 24,884
Supplemental disclosures of cash flow information    
Cash paid during the period for: Interest 13,553 8,382
Cash paid during the period for: Income taxes paid 94 1
Right-of-use assets obtained in exchange for lease obligations- Operating leases 816 432
Right-of-use assets obtained in exchange for lease obligations- Financing leases 3,541 526
Accounts payable and accrued expenses for capital expenditures for plant, equipment and leasehold improvements $ 2,293 $ 256