XML 22 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 14,992 $ (29,826)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:    
Impairments and other non-cash charges 2,816 37,322
Depreciation and amortization 23,507 30,259
Stock-based compensation expense 4,967 5,102
Provision for deferred income taxes (1,031) (5,717)
Credit loss expense 827 721
Gain on sale of assets (2,176) (2,550)
Amortization of original issue discount and debt issuance costs 409 724
Change in assets and liabilities:    
(Increase) decrease in receivables 33,917 (26,494)
Increase in inventories (2,160) (58,722)
Increase in other assets (2,133) (3,976)
Increase (decrease) in accounts payable (11,179) 24,751
Increase in accrued liabilities and other 1,086 313
Net cash provided by (used in) operating activities 63,842 (28,093)
Cash flows from investing activities:    
Capital expenditures (20,134) (17,720)
Proceeds from divestitures 19,355 0
Proceeds from sale of property, plant and equipment 2,952 2,497
Net cash provided by (used in) investing activities 2,173 (15,223)
Cash flows from financing activities:    
Borrowings on lines of credit 198,486 241,487
Payments on lines of credit (229,657) (199,549)
Proceeds from term loan 0 3,754
Debt issuance costs 0 (999)
Purchases of treasury stock (28,226) (2,619)
Proceeds from employee stock plans 179 0
Other financing activities (2,950) (2,251)
Net cash provided by (used in) financing activities (62,168) 39,823
Effect of exchange rate changes on cash (504) (2,083)
Net increase (decrease) in cash, cash equivalents, and restricted cash 3,343 (5,576)
Cash, cash equivalents, and restricted cash at beginning of period 25,061 29,489
Cash, cash equivalents, and restricted cash at end of period $ 28,404 $ 23,913