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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ 3,801 $ (13,979)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 13,265 10,138
Amortization of intangible assets 3,747 3,526
Accretion of asset retirement obligation 44 54
Amortization of deferred financing costs 904 315
Amortization of original issue discount 122 21
Stock-based compensation expense 884  
Officer loan compensation expense   1,583
Gain on involuntary conversio (619)  
Loss on extinguishment of debt   907
Deferred income taxes (35) (2,037)
Provision for loss on receivables, net of recoveries 530  
Changes in operating assets and liabilities    
Accounts receivable (1,120) 1,974
Related party receivable 578  
Prepaid expenses and other assets (949) (422)
Accounts payable and other accrued liabilities (4,094) (4,801)
Deferred revenue and customer deposits (5,239) (3,825)
Other non-current assets and liabilities (1,268) (199)
Net cash provided by (used in) operating activities 10,551 (6,745)
Cash flows from investing activities:    
Purchase of specialty rental assets (10,751) (14,623)
Purchase of property, plant and equipment (13) (37)
Receipt of insurance proceeds 619  
Repayments from affiliates   638
Net cash used in investing activities (10,145) (14,022)
Cash flows from financing activities:    
Proceeds from borrowings on Senior Secured Notes, net of discount   336,699
Principal payments on finance and capital lease obligations (3) (1,475)
Proceeds from borrowings on finance and capital lease obligations 733  
Principal payments on borrowings from ABL (22,500) (27,790)
Proceeds from borrowings on ABL 27,500 47,240
Repayment of affiliate note   (3,762)
Contributions from affiliate   39,107
Recapitalization   218,752
Recapitalization - cash paid to Algeco Seller   (563,134)
Payment of deferred financing costs   (13,944)
Restricted shares surrendered to pay tax liabilities (83)  
Purchase of treasury stock (5,318)  
Net cash provided by financing activities 329 31,693
Effect of exchange rate changes on cash and cash equivalents (18)  
Net increase in cash, cash equivalents and restricted cash 717 10,926
Cash, cash equivalents and restricted cash - beginning of period 6,839 12,451
Cash, cash equivalents and restricted cash - end of period $ 7,556 23,377
Non-cash investing and financing activity:    
Non-cash change in accrued capital expenditures   (7,177)
Non-cash contribution from affiliate - forgiveness of affiliate note   104,285
Non-cash distribution to PEAC - liability transfer from PEAC, net   (8,840)
Non-cash change in accrued deferred financing costs   $ (6,424)