XML 21 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated & Combined Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income (loss) $ (19,619) $ 5,034
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 11,635 17,135
Amortization of debt issuance costs 342 784
Deferred income tax provision (6,389) 1,919
Loss on sale of assets 1,305 582
Income from equity method investment (1,217) (1,286)
Distributions received from equity investment 1,059 938
Non-cash share-based compensation 1,007 1,403
Loss (gain) on interest rate swap 1,796 (2,228)
Interest accreted on contingent earnout liability 135 0
Changes in cash due to changes in:    
Trade accounts receivable 13,036 (5,289)
Receivable from affiliates 66 (82)
Costs and estimated earnings in excess of billings (3,665) (22,305)
Inventory 3,491 (825)
Prepaid expenses and other current assets 1,187 (2,126)
Accounts payable 4,452 8,587
Billings in excess of costs and estimated earnings (1,192) (8,783)
Accrued payroll and bonuses (3,892) 1,946
Asset retirement obligation (5,120) 14
Accrued expenses (1,845) 2,396
Net cash used in operating activities (3,428) (2,186)
Cash flows from investing activities:    
Proceeds from the sale of equipment 1,507 1,102
Purchases of property and equipment (11,491) (8,233)
Payments for business acquisitions, net of cash received 0 (19,983)
Purchase of intangible assets 0 (31)
Net cash used in investing activities (9,984) (27,145)
Cash flows from financing activities:    
Net proceeds on line of credit 15,375 0
Proceeds from long-term debt 9,994 8,400
Principal payments on long-term debt (8,067) (45,547)
Repurchases of shares (201) 0
Payments of offering costs 0 (8,622)
Issuance of common stock 0 59,241
Distributions to non-controlling interest (1,008) (721)
Distributions to members 0 (686)
Net cash provided by financing activities 16,093 12,065
Net increase (decrease) in cash 2,681 (17,266)
Cash, beginning of period 6,900 32,264
Cash, end of period 9,581 14,998
Supplemental disclosures of cash flow information:    
Cash paid during the year for interest 4,889 11,163
Cash paid during the year for taxes 0 0
Non-cash investing and financing transactions:    
Purchase of equipment with seller provided financing $ 0 $ 13,441