XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Unaudited 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 $ (4,602) $ (687)
Adjustments to reconcile net loss to net cash provided by operating activities    
Depreciation and amortization 16,722 16,935
Deferred income taxes 3,441 (80)
Share-based compensation expense 2,968 2,770
Fair value adjustments to contingent consideration 0 45
Foreign currency loss 875 4
Other (513) 709
Changes in operating assets and liabilities    
Accounts receivable 5,856 (23,035)
Inventories (2,402) (430)
Prepaid expenses and other assets (7,420) 5,198
Accounts payable 4,261 4,790
Accrued expenses and other liabilities 1,202 2,676
Income taxes payable (1,129) (553)
Payment of contingent consideration liability in excess of acquisition-date fair value (938) (533)
Net cash provided by operating activities 18,321 7,809
Cash flows from investing activities    
Purchase of property, plant and equipment (9,801) (6,692)
Purchase of intangible assets (822) (399)
Proceeds from sale of equipment 812 592
Net cash used in investing activities (9,811) (6,499)
Cash flows from financing activities    
Repayment of finance lease obligations (2,528) (2,138)
Repayment of long-term debt (3,808) (9,507)
Proceeds from revolver 46,194 56,000
Repayment of revolver (50,100) (48,250)
Payment of contingent consideration for business acquisitions 0 (405)
Taxes paid related to net share settlement of share-based awards (945) (756)
Net cash used in financing activities (11,187) (5,056)
Effect of exchange rate changes on cash and cash equivalents 188 (1,755)
Net change in cash and cash equivalents (2,489) (5,501)
Cash and cash equivalents at beginning of period 20,488 24,110
Cash and cash equivalents at end of period 17,999 18,609
Supplemental disclosure of cash paid    
Interest, net 8,899 3,525
Income taxes, net of refunds 3,429 (3,466)
Noncash investing and financing    
Equipment acquired through finance lease obligations $ 5,764 $ 2,039