XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Operating activities:    
Net loss $ (179,178) $ (22,820)
Less: Loss from discontinued operations, net of tax (74,429) (681)
Loss from continuing operations (104,749) (22,139)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation and amortization 31,073 24,863
Provision for expected credit losses 640 2,505
Equity based compensation (886) 9,505
Change in fair value of contingent consideration 527 542
Change in fair value of interest rate swap 0 (4,196)
Deferred income taxes (3,540) (27,698)
Impairment of assets 78,615 0
Loss on disposal of a business 977 0
Unrealized loss on foreign currency fluctuations 601 1,020
Other, net 1,139 408
Changes in operating assets and liabilities:    
Accounts receivable 11,329 (21,157)
Inventories (13,074) (2,614)
Accounts payable and accrued expenses 14,765 17,747
Other current and noncurrent assets and liabilities (1,963) 3,134
Net cash from operating activities - continuing operations 15,454 (18,080)
Net cash from operating activities - discontinued operations (2,169) 0
Net cash from operating activities 13,285 (18,080)
Investing activities:    
Proceeds from sale of a business 34,897 0
Investment held in trust for the acquisition of CartiHeal 0 (50,000)
Acquisitions, net of cash acquired 0 (231)
Purchase of property and equipment (4,957) (4,990)
Investments and acquisition of distribution rights 0 (1,478)
Net cash from investing activities - continuing operations 29,940 (56,699)
Net cash from investing activities - discontinued operations (11,506) 0
Net cash from investing activities 18,434 (56,699)
Financing activities:    
Proceeds from issuance of Class A and B common stock 223 4,257
Tax withholdings on equity-based compensation 0 (3,352)
Borrowing on revolver 49,000 25,000
Payment on revolver (42,000) 0
Debt refinancing costs (3,661) 0
Payments on long-term debt (38,264) (9,019)
Other, net (166) (26)
Net cash from financing activities (34,868) 16,860
Effect of exchange rate changes on cash 701 (293)
Net change in cash, cash equivalents and restricted cash (2,448) (58,212)
Cash, cash equivalents and restricted cash at the beginning of the period 31,837 99,213
Cash, cash equivalents and restricted cash at the end of the period 29,389 41,001
Supplemental disclosure of noncash investing and financing activities    
Accrued liabilities for intellectual property 709 0
Accounts payable for purchase of property, plant and equipment $ 968 $ 67