XML 22 R6.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from (used for) operating activities:      
Net loss $ (1,078) $ (26,777) $ (19,064)
Adjustments to reconcile net income (loss) to net cash from operating activities -      
Depreciation and amortization 19,402 19,873 21,840
Goodwill and Intangible Asset Impairment [1] 24,951 23,836
(Gain) loss on disposition of property and equipment (376) 15 248
Stock-based compensation 534 1,759 2,074
Other long-term assets (638) 44 (766)
Other long-term liabilities (1,074) (7,500) (2,754)
16,770 12,365 25,414
Changes in working capital:      
Accounts receivable (9,025) 30,927 (8,516)
Inventories (47,881) 104,463 (24,737)
Prepaid expenses and other 1,620 13,808 (7,648)
Accounts payable 28,619 (21,923) (24,090)
Change in outstanding checks (4,846) (13,644) (10,670)
Accrued payroll and other accrued liabilities 4,930 (18,511) 10,663
(26,583) 95,120 (64,998)
Net cash from (used for) operating activities (9,813) 107,485 (39,584)
Cash flows from (used for) investing activities:      
Capital expenditures (6,824) (7,317) (7,834)
Proceeds from disposition of property and equipment 376 3 68
Net cash used for investing activities (6,448) (7,314) (7,766)
Cash flows from (used for) financing activities:      
Credit facility revolver borrowings 307,298 311,372 632,726
Credit facility revolver repayments (288,499) (409,662) (534,711)
Term loan repayments (48,854)
Industrial revenue bond repayments (865) (840) (810)
Credit facility fees and expenses (131) (127) (1,218)
Proceeds from exercise of stock options (including tax benefits) and employee stock purchases 46 30 147
Repurchase of common stock (699)
Dividends paid (877) (879) (878)
Net cash from (used for) financing activities 16,972 (100,805) 46,402
Net change 711 (634) (948)
Beginning balance 1,604 2,238 3,186
Ending balance 2,315 1,604 2,238
Cash paid during the period      
Interest paid 4,300 5,083 5,793
Income taxes paid $ 982 $ 565 $ 4,658
[1] $24,451 of the goodwill and intangible asset impairment in 2015 related to the tubular and pipe products segment, $500 related to the specialty metals flat products segment. The goodwill impairment in 2014 related to the tubular and pipe products segment.