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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 02, 2023
Jul. 03, 2022
OPERATING ACTIVITIES:    
Net income $ 17,226 $ 57,421
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 4,953 4,663
Amortization of intangible assets 7,353 7,323
Amortization of deferred loan costs 901 846
Amortization of right of use assets 2,707 2,753
Gain on termination of leases 0 (279)
Fair value adjustments to warrant liability 3,452 (20,941)
Fair value adjustments to earn-out liability 1,389 (1,853)
Fair value adjustments to interest rate collar (2,068) 0
Equity compensation 2,200 6,645
Change in deferred taxes (10,663) (1,090)
Loss on disposal of property, plant and equipment 69 336
Provision for inventory reserves 2,973 2,787
Provision for credit losses 717 145
Accounts receivable (10,707) (6,343)
Inventories 11,691 (29,483)
Prepaids and other current assets 2,239 3,838
Accounts payable (1,337) (5,778)
Accrued interest 267 484
Accrued and other liabilities 1,021 (643)
Net cash provided by operating activities 34,383 20,831
INVESTING ACTIVITIES:    
Capital expenditures (2,738) (9,609)
Proceeds from the disposal of fixed assets 356 244
Cash paid for acquisitions, net 0 (14,077)
Net cash used in investing activities (2,382) (23,442)
FINANCING ACTIVITIES:    
Proceeds from issuance of long-term debt 0 27,000
Deferred financing fees (1,427) 0
Payments from stock-based award activities (73) 0
Proceeds from issuance of common stock in connection with the exercise of Warrants 0 383
Net cash used in financing activities (15,572) (2,716)
Effect of foreign currency rate fluctuations on cash 161 (443)
Net change in cash and cash equivalents 16,590 (5,770)
Cash and cash equivalents:    
Beginning of period 26,150 36,325
End of period 42,740 30,555
Supplemental disclosures of cash flow information:    
Cash paid for interest 29,097 16,005
Cash paid for income taxes 12,021 4,276
Empower Sponsor Holdings LLC [Member]    
Noncash investing and financing activities:    
Vested Earn-out Shares issued to Empower Sponsor Holdings LLC 0 14,689
Principal Payment [Member]    
FINANCING ACTIVITIES:    
Principal payments on long-term debt $ (14,072) $ (30,099)