XML 21 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net Income (Loss) $ (21,800,000) $ (13,200,000) $ 101,900,000
Amortization of inventory step-up 0 0 3,000,000
Payments of contingent consideration 0 (9,200,000) 0
(Gain) loss on disposal of assets (300,000) (3,600,000) 100,000
Deferred income tax (benefit) expense (20,100,000) 1,300,000 (21,000,000)
Change in fair value of contingent liability 0 (9,000,000) 19,000,000
Depreciation 32,700,000 37,900,000 39,400,000
Amortization of debt issuance costs 3,000,000 2,700,000 2,800,000
Amortization of intangibles 43,400,000 41,500,000 46,300,000
Stock-based compensation 14,800,000 9,500,000 15,200,000
Loss on debt extinguishment 0 0 3,700,000
Non-cash charge for goodwill impairment 89,500,000 98,700,000 0
Changes in operating assets and liabilities:      
Accounts receivable (38,600,000) 31,600,000 (77,600,000)
Inventories 85,500,000 23,200,000 (131,800,000)
Other assets 5,900,000 400,000 (1,200,000)
Accounts payable (68,000,000) (66,000,000) 131,200,000
Accrued expenses and other liabilities 18,200,000 (57,500,000) 26,300,000
Accrued income taxes (15,500,000) (10,700,000) 2,300,000
Net cash provided by operating activities 128,700,000 77,600,000 159,600,000
Investing activities      
Additions to property, plant and equipment (13,800,000) (16,500,000) (21,200,000)
Proceeds from the disposition of assets 2,600,000 7,200,000 0
Cost of acquisitions, net of cash acquired 0 0 15,400,000
Net cash used by investing activities (11,200,000) (9,300,000) (5,800,000)
Financing activities      
Proceeds from long-term borrowings 121,900,000 236,700,000 659,700,000
Repayments of long-term debt (199,200,000) (220,500,000) (766,300,000)
Repayments of notes payable, net (10,200,000) 700,000 3,700,000
Payment for debt premium 0 0 (9,800,000)
Payments for debt issuance costs 0 (1,200,000) (10,500,000)
Dividends paid (28,500,000) (28,600,000) (25,800,000)
Payments of contingent consideration 0 (17,800,000) (400,000)
Repurchases of common stock 0 (19,400,000) 0
Payments related to tax withholding for stock-based compensation (1,700,000) (2,500,000) (900,000)
Proceeds from the exercise of stock options 0 4,300,000 3,100,000
Net cash used by financing activities (117,700,000) (48,300,000) (147,200,000)
Effect of foreign exchange rate changes on cash and cash equivalents 4,400,000 1,000,000 (2,000,000)
Net increase in cash and cash equivalents 4,200,000 21,000,000 4,600,000
Cash and cash equivalents      
Beginning of the period 62,200,000 41,200,000 36,600,000
End of the period 66,400,000 62,200,000 41,200,000
Cash paid during the year for:      
Interest 55,600,000 42,600,000 37,600,000
Income taxes $ 44,300,000 $ 37,500,000 $ 28,000,000