XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (40,428) $ (30,143)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Restructuring and impairment charges 6,530 352
Depreciation and amortization 2,196 5,884
Non-cash lease expense on right-of-use assets 887 3,065
Recognition of deferred income from state and local incentives (1,110) (1,110)
Loss on change in fair market value for warrant liability 18,676 0
Stock-based compensation recognized 2,961 94
Non-cash interest expense 1,981 140
Other non-cash items, net 96 13
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 916 508
VAT receivable (16,814) (306)
Inventories (8,058) (22,024)
Other assets (6,263) (7,188)
Accounts and contractual payables 6,193 6,456
Accrued payroll and employee benefits (802) (941)
Income taxes receivable/payable (360) (13)
Accrued warranty (2,366) (485)
Lease liability (1,180) (5,391)
Customer deposits 0 27,889
Other liabilities (6,749) 2,548
Accrued pension costs and accrued postretirement benefits (415) (131)
Net cash flows used in operating activities (44,109) (20,783)
Cash flows from investing activities    
Purchase of restricted certificates of deposit 0 (3,855)
Maturity of restricted certificates of deposit 182 3,769
Purchase of property, plant and equipment (1,433) (7,009)
Proceeds from sale of property, plant and equipment and railcars available for lease 433 170
Net cash flows used in investing activities (818) (6,925)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 16,000 10,000
Deferred financing cost (480) 0
Borrowings on revolving line of credit 7,220 0
Repayments on revolving line of credit (11,068) 0
Employee stock settlement (7) (9)
Payment for stock appreciation rights exercised (55) 0
Net cash flows provided by financing activities 11,610 9,991
Net decrease in cash and cash equivalents (33,317) (17,717)
Cash, cash equivalents and restricted cash equivalents at beginning of period 54,047 66,257
Cash, cash equivalents and restricted cash equivalents at end of period 20,730 48,540
Supplemental cash flow information    
Interest paid 2,813 217
Income tax refunds received, net of payments 5 0
Non-cash transactions    
Change in unpaid construction in process 530 (115)
Accrued PIK interest paid through issuance of PIK Note $ 553 $ 0