XML 22 R8.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ 9,763 $ 27,820 $ 25,062
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other 46,742 44,518 39,116
Equity-based compensation 10,116 13,044 9,140
Accretion of discount on long-term debt 278 952 1,414
Amortization of debt issuance costs 1,074 258 709
Loss on debt extinguishment 0 0 4,547
Deferred tax expense (benefit) 3,323 (2,293) (964)
Other 1,952 635 4,288
Changes in operating assets and liabilities:      
Accounts receivable, net 20,077 (3,969) (36,139)
Inventory 2,845 25,372 (8,886)
Prepaid expenses and other assets 12,273 (5,824) 8,736
Accounts payable (13,303) 4,629 (16,375)
Income taxes payable (209) (3,618) 2,177
Accrued royalties 5,906 (4,403) 13,495
Accrued expenses and other liabilities 6,402 (6,356) 3,671
Net cash provided by operating activities 107,239 90,765 49,991
Investing Activities      
Purchase of property and equipment (18,482) (42,264) (26,866)
Acquisitions, net of cash 0 (6,369) (635)
Net cash used in investing activities (18,482) (48,633) (27,501)
Financing Activities      
Borrowings on line of credit 28,267 42,083 316,390
Payments on line of credit (55,103) (36,383) (307,191)
Debt issuance costs (569) (411) 0
Proceeds from long-term debt, net 0 0 230,011
Payment of long-term debt (26,438) (11,750) (231,338)
Contingent consideration 0 0 (2,500)
Distributions to continuing equity owners (3,575) (23,923) (20,441)
Payments under tax receivable agreement (4,639) (173) 0
Proceeds from exercise of equity-based options 219 2,217 23
Net cash used in financing activities (61,838) (28,340) (15,046)
Effect of exchange rates on cash and cash equivalents 107 (2,049) (1,686)
Net increase in cash and cash equivalents 27,026 11,743 5,758
Cash and cash equivalents at beginning of period 25,229 13,486 7,728
Cash and cash equivalents at end of period 52,255 25,229 13,486
Supplemental Cash Flow Information      
Cash paid for interest 9,089 12,313 19,403
Income tax payments 4,167 14,125 2,311
Accrual for purchases of property and equipment 0 5,362 1,137
Establishment of liabilities under tax receivable agreement 1,000 59,045 6,771
Issuance of equity instruments for acquisitions 0 2,221 0
Tenant allowance $ 269 $ 3,201 $ 168