XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Cash Flows from Operating Activities    
Net Income $ 10,818 $ 20,708
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities:    
Depreciation and amortization 24,421 23,335
Non-cash operating lease cost 5,982 5,184
Inventory write down and property and equipment impairment due to restructuring 819 1,018
Stock-based compensation expense 13,769 7,904
Deferred income taxes (5,088) (6,981)
Provision for (recovery of) credit losses 723 (483)
Noncash loss on extinguishment of debt 0 295
Recognition of insurance recoveries (3,886) 0
Other 180 603
Changes in Assets and Liabilities:    
Accounts receivable 2,833 (21,584)
Contract assets 139 (18,091)
Inventories (31,967) (21,690)
Production cost of contracts (861) 276
Other assets (289) (139)
Accounts payable (12,381) 23,166
Contract liabilities 4,409 (8,020)
Operating lease liabilities (5,740) (4,700)
Accrued and other liabilities 690 (171)
Net Cash Provided by Operating Activities 4,571 630
Cash Flows from Investing Activities    
Purchases of property and equipment (16,032) (14,365)
Proceeds from sale of assets 404 51
Payments for acquisition of BLR Aerospace L.L.C., net of cash acquired (114,378) 0
Post closing cash received from the acquisition of Magnetic Seal LLC, net 0 365
Net Cash Used in Investing Activities (130,006) (13,949)
Cash Flows from Financing Activities    
Borrowings from senior secured revolving credit facility 152,500 4,000
Repayments of senior secured revolving credit facility (123,700) (4,000)
Borrowings from term loans 0 250,000
Repayments of term loans (4,688) (287,712)
Repayments of other debt (250) (246)
Payments of Debt Issuance Costs 0 (2,511)
Proceeds from issuance of common stock in public offering, net of issuance costs 85,107 0
Net cash paid upon issuance of common stock under stock plans (2,585) (1,281)
Net Cash Provided by (Used in) Financing Activities 106,384 (41,750)
Net Decrease in Cash and Cash Equivalents (19,051) (55,069)
Cash and Cash Equivalents at Beginning of Period 46,246 76,316
Cash and Cash Equivalents at End of Period $ 27,195 $ 21,247