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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net Income $ 15,928 $ 28,789 $ 135,536
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:      
Depreciation and amortization 32,571 31,421 28,389
Non-cash operating lease cost 8,215 7,267 3,349
Inventory write-down and property and equipment impairment due to restructuring 882 1,610 0
Stock-based compensation expense 15,045 10,744 11,212
Deferred income taxes (9,832) (9,392) 1,768
Provision for (recovery of) credit losses 1,417 (509) (454)
Noncash loss on extinguishment of debt 0 295 0
Recognition of insurance recoveries (3,886) 0 0
Gain on sale-leaseback 0 0 (132,522)
Other 411 1,060 (505)
Changes in Assets and Liabilities:      
Accounts receivable 1,998 (31,188) (11,689)
Contract assets 13,604 (14,885) (22,377)
Inventories (15,979) (20,841) (17,129)
Production cost of contracts (2,825) 8 (2,311)
Other assets (4,330) (1,354) (4,902)
Accounts payable (18,420) 24,222 2,793
Contract liabilities 6,424 4,991 13,813
Operating lease liabilities (7,618) (6,473) (3,531)
Accrued and other liabilities (2,538) 6,915 (2,005)
Net Cash Provided by (Used in) Operating Activities 31,067 32,680 (565)
Cash Flows from Investing Activities      
Purchases of property and equipment (19,522) (19,689) (16,863)
Proceeds from sale-leaseback 0 0 143,100
Proceeds from sale of assets 404 82 553
Proceeds from life insurance 0 0 439
Payments for acquisition of BLR Aerospace L.L.C., net of cash acquired (114,378) 0 0
Post closing cash received from (payments for acquisition of) Magnetic Seal LLC, net of cash acquired 0 365 (69,479)
Net Cash (Used in) Provided by Investing Activities (133,496) (19,242) 57,750
Cash Flows from Financing Activities      
Borrowings from senior secured revolving credit facility 176,500 4,000 96,000
Repayments of senior secured revolving credit facility (152,700) (4,000) (121,000)
Borrowings from term loans 0 250,000 0
Repayments of term loans (6,250) (289,274) (7,926)
Repayments of other debt (336) (344) (362)
Debt issuance costs 0 (2,511) 0
Proceeds from issuance of common stock in public offering, net of issuance costs 85,107 0 0
Net cash paid upon issuance of common stock under stock plans (3,275) (1,379) (4,047)
Net Cash Provided by (Used in) Financing Activities 99,046 (43,508) (37,335)
Net (Decrease) Increase in Cash and Cash Equivalents (3,383) (30,070) 19,850
Cash and Cash Equivalents at Beginning of Year 46,246 76,316 56,466
Cash and Cash Equivalents at End of Year $ 42,863 $ 46,246 $ 76,316