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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net (loss) income $ (4,593) $ 8,244
Adjustments to reconcile net (loss) income to net cash used in operating activities    
Depreciation and amortization of intangible assets and loan fees 11,797 6,056
Gain on disposition of property, plant, and equipment (369) (62)
Stock based compensation expense 4,402 3,146
Deferred tax adjustment (1,109) 1,638
Contingent note revaluation   780
Other non-cash activity 65 56
Changes in assets and liabilities    
Accounts receivable (74,138) (40,218)
Inventories (31,627) (6,294)
Other assets (1,073) 1,250
Accounts payable 39,528 6,656
Accrued wages payable 1,847 1,407
Other accrued expenses 12,766 (717)
Net cash used in operating activities (42,504) (18,058)
Cash flows from investing activities    
Proceeds from disposition of property, plant, and equipment 429 69
Purchase of property, plant, and equipment (10,425) (1,730)
Net cash used in investing activities (9,996) (1,661)
Cash flows from financing activities    
Proceeds from issuance of convertible notes - liability 90,465  
Proceeds from issuance of convertible notes - equity 53,285  
Payment for Capped Call options (14,821)  
Proceeds from issuance of long-term debt 457,200 323,144
Principal payments on long-term debt (438,874) (331,856)
Payment of financing fees on Convertible Notes (5,819)  
Tax distributions to LLC Owners (46) (1,378)
Principal payments on finance lease obligations (761) (737)
Payment of deferred financing fees and debt discount (275) (50)
Tax withholding payments on Restricted Stock Units (186)  
Exercise of options to purchase class A common stock 2,171 798
Net cash provided by financing activities 142,339 (10,079)
Net change in cash and cash equivalents 89,839 (29,798)
Effect of exchange rate changes on cash and cash equivalents (88) 2
Cash and cash equivalents, beginning of period 27,272 66,360
Cash and cash equivalents, end of period 117,023 36,564
Supplemental cash flow information    
Interest paid 8,106 4,454
Net change in property, plant, and equipment acquired through accounts payable (160) (164)
Finance lease additions 381 315
Net change of deferred tax asset from step-up in basis 5,786 6,093
Income taxes paid (46) 197
Accrued tax distribution $ 310 $ 1,054