XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income (loss) $ (14,940) $ 3,707
Adjustments to reconcile net loss to net cash provided by operating activities    
Depreciation and amortization 25,470 25,132
Goodwill impairment charges 13,799 0
Deferred income taxes 816 1,790
Share-based compensation expense 3,985 4,166
Bad debt provision for troubled customers, net of recoveries 0 289
Change in provision for doubtful accounts 346 0
Fair value adjustments to contingent consideration 0 45
Foreign currency (gain) loss 149 (924)
Payment of finance costs 0 (448)
Other (147) 969
Changes in operating assets and liabilities    
Accounts receivable (13,393) (27,692)
Inventories (2,425) (1,146)
Prepaid expenses and other assets (7,572) 2,105
Accounts payable 2,094 578
Accrued expenses and other liabilities 4,165 2,539
Income taxes payable (725) (46)
Payment of contingent consideration liability in excess of acquisition-date fair value (938) (533)
Net cash provided by operating activities 10,684 10,531
Cash flows from investing activities    
Purchase of property, plant and equipment (14,403) (9,050)
Purchase of intangible assets (1,868) (580)
Acquisition of business, net of cash acquired 0 0
Proceeds from sale of equipment 1,101 753
Net cash used in investing activities (15,170) (8,877)
Cash flows from financing activities    
Repayment of finance lease obligations (3,812) (3,173)
Proceeds from borrowings of long-term debt 0 125,000
Repayment of long-term debt (5,684) (79,519)
Proceeds from revolver 66,110 168,000
Repayment of revolver (57,851) (213,750)
Payment of financing costs 0 (148)
Payment of contingent consideration for business acquisitions 0 (405)
Taxes paid related to net share settlement of share-based awards (602) (758)
Net cash used in financing activities (1,839) (4,753)
Effect of exchange rate changes on cash and cash equivalents (1,411) (2,927)
Net change in cash and cash equivalents (7,736) (6,026)
Cash and cash equivalents at beginning of period 20,488 24,110
Cash and cash equivalents at end of period 12,752 18,084
Supplemental disclosure of cash paid    
Interest, net 12,683 5,354
Income taxes, net of refunds 3,704 (3,764)
Noncash investing and financing    
Equipment acquired through finance lease obligations $ 7,169 $ 3,373