XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 874 $ 267
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,583 12,103
Amortization of debt issuance costs 184 24
Deferred income tax expense 396 356
Stock-based compensation 1,617 754
Bad debt allowance 128 0
Impairment expense 779 0
Gain on sale of assets (206) (151)
Loss (gain) on company owned life insurance (80) 557
Changes in operating assets and liabilities:    
Trade accounts receivables (6,332) (1,472)
Inventory (4,438) 803
Prepaid expenses and prepaid income taxes (301) (748)
Accounts payable and accrued liabilities 16,888 2,298
Deferred income (37) (1,312)
Other 588 (231)
NET CASH PROVIDED BY OPERATING ACTIVITIES 22,643 13,248
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of rental equipment, property and other equipment (93,479) (19,173)
Purchase of company owned life insurance (329) (236)
Proceeds from sale of property and equipment 231 224
NET CASH USED IN INVESTING ACTIVITIES (93,577) (19,185)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loan 75,011 0
Payments of other long-term liabilities, net (50) (2)
Payments of debt issuance costs (2,131) 0
Purchase of treasury shares 0 (6,660)
Taxes paid related to net share settlement of equity awards (982) (515)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 71,848 (7,177)
NET CHANGE IN CASH AND CASH EQUIVALENTS 914 (13,114)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,372 22,942
CASH AND CASH EQUIVALENTS AT END OF PERIOD 4,286 9,828
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 1,966 25
NON-CASH TRANSACTIONS    
Right of use asset acquired through an operating lease 63 91
Transfer of rental equipment to inventory $ 708 $ 0