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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating activities:    
Net income $ 27,013 $ 830
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash compensation expense 1,131 850
Non-cash compensation to directors 421 404
Depreciation and amortization 7,176 6,029
Amortization of deferred financing costs 189 1,046
Deferred income taxes 2,617 46,764
Adjustment to tax receivable agreement liability 0 (27,702)
Other items, net 28 (208)
Change in operating assets and liabilities, net of effects of acquisitions:    
Trade receivables 11,231 1,315
Inventories (16,073) (6,037)
Prepaid expenses and other assets (2,006) (512)
Accounts payable 2,169 1,954
Income taxes receivable and payable (2,112) 65
Accrued expenses and other liabilities 3,828 2,227
Net cash provided by operating activities 35,612 27,025
Investing activities:    
Purchases of property, plant and equipment (6,837) (4,923)
Payment for acquisition, net of cash acquired (100,073) (125,552)
Net cash used in investing activities (106,910) (130,475)
Financing activities:    
Principal payments on long-term borrowings 0 (50,000)
Proceeds from long-term borrowings 0 105,000
Proceeds from revolving credit facility 50,000 0
Payments on revolving credit facility (15,000) 0
Payment of deferred financing costs 0 (1,148)
Proceeds from issuance of Class A Common Stock in offering, net of underwriting discounts 0 55,317
Payments of costs directly associated with offering 0 (650)
Proceeds received from exercise of stock option 749 0
Cash paid for withholding taxes on vested restricted stock (1,186) (543)
Distributions to LLC Unit holders (909) (636)
Net cash provided by financing activities 33,654 107,340
Effect of exchange rate changes on cash (76) 19
Changes in cash (37,720) 3,909
Cash—Beginning of period 61,623 32,822
Cash—End of period 23,903 36,731
Supplemental cash flow information:    
Cash paid for interest 2,361 861
Cash paid for income taxes 6,628 2,740
Non-cash investing and financing activities:    
Establishment of deferred tax assets from step-up in tax basis 3,138 2,513
Establishment of amounts payable under tax receivable agreements 2,553 1,259
Exchange of LLC Units by LLC Unit holders for Class A common stock 1,047 738
Tax distributions payable to non-controlling LLC Unit holders 319 361
Capital expenditures in accounts payable $ 493 $ 659