XML 21 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 3,175 $ 16,279 $ 10,027
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 3,810 2,964 2,544
Amortization of deferred financing fees 78 0 0
Provision for doubtful accounts 858 346 3,374
Share-based compensation 3,382 2,382 2,298
Non-cash leasing arrangement (Note 13) 220    
Deferred income taxes 79 0 0
Change in operating assets and liabilities:      
Accounts receivable (8,571) (2,569) (5,707)
Prepaid expenses and other assets (2,746) (210) 113
Operating lease obligations (2,081)    
Accounts payable 4,069 1,373 432
Accrued wages and related liabilities 3,376 1,583 2,708
Other accrued liabilities 1,720 398 199
Other long-term liabilities 2,185 729 1,262
Net cash provided by operating activities 9,554 23,275 17,250
Cash flows from investing activities:      
Purchase of property and equipment (6,714) (3,603) (3,133)
Cash payments for business acquisitions (18,760) (4,725) (12,059)
Cash payments for asset acquisitions (20) (593) 0
Cash proceeds received on sale of intangibles 0 0 500
Cash proceeds from the sale of assets 0 0 121
Escrow deposits (1,400) 0 0
Restricted and other assets 429 (556) (1,512)
Net cash used in investing activities (26,465) (9,477) (16,083)
Cash flows from financing activities:      
Proceeds from sale of subsidiary shares 2,293 1,972 0
Repurchase of subsidiary shares (2,687) (1,972) 0
Net investment from/(to) parent 10,788 (13,793) (1,161)
Cash distribution to parent in connection with Spin-Off (11,600) 0 0
Proceeds from revolver agreement 42,500 0 0
Payments on revolver agreement (22,500) 0 0
Payments for deferred financing costs (1,552) 0 0
Issuance of common stock upon the exercise of options 30 0 0
Net cash provided by/(used in) financing activities 17,272 (13,793) (1,161)
Net increase in cash 361 5 6
Cash beginning of period 41 36 30
Cash end of period 402 41 36
Cash paid during the period for:      
Interest 156 0 0
Income taxes 120 0 0
Lease liabilities 37,088    
Non-cash financing and investing activity:      
Capital expenditures 946 $ 717 $ 309
Right-of-use assets obtained in exchange for new operating lease obligations 9,059    
Adjustment to right-of-use assets and lease liabilities from lease modifications $ 77,462