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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 9,781 $ 3,160
Adjustments to reconcile net income to net cash used in operating activities    
Depreciation and amortization of intangible assets and loan fees 8,463 8,966
Loss on disposition of property, plant, and equipment 0 148
Stock based compensation expense 2,466 3,823
Other non-cash activity (52) 316
Changes in assets and liabilities, net of business acquisition    
Accounts receivable (84,250) (65,026)
Inventories (13,567) (71,417)
Other assets (2,065) (1,273)
Accounts payable 36,019 74,094
Accrued wages payable (1,988) (1,496)
Other accrued expenses 1,866 3,325
Net cash used in operating activities (43,327) (45,380)
Cash flows from investing activities    
Business acquisition (net of cash acquired) (27,634) 0
Purchase of property, plant, and equipment (1,910) (5,678)
Net cash used in investing activities (29,544) (5,678)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 15,000 40,000
Principal payments on long-term debt (16,900) (16,150)
Principal payments on finance lease obligations (346) (399)
Tax withholding payments on Restricted Stock Units (840) (688)
Exercise of options to purchase Class A common stock 0 100
Net cash (used in) provided by financing activities (3,086) 22,863
Net change in cash and cash equivalents (75,957) (28,195)
Effect of exchange rate changes on cash and cash equivalents 102 (107)
Cash and cash equivalents, beginning of period 101,265 79,406
Cash and cash equivalents, end of period 25,410 51,104
Supplemental cash flow information    
Interest paid 6,808 4,072
Net change in property, plant, and equipment acquired through accounts payable (34) 290
Finance lease additions 0 59
Income taxes paid, net of refunds $ 3 $ (5)