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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:      
Net income (loss) $ (53,545) $ (36,520) $ 28,504
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 13,967 10,487 8,477
Amortization of inventory step-up 10,681 17,881 3,577
Accretion of asset retirement obligation 129 51 0
Accretion of contingent consideration 64 0 0
Accretion of investment discount 0 (69) (196)
Change in valuation of contingent consideration (298) 0 0
Impairment of goodwill and intangible assets 15,309 33,358 0
Impairment of property, plant, and equipment 1,408 0 0
Provision for accounts receivable allowances 5,299 4,035 5,188
Deferred tax provision (benefit) 6,736 (14,125) (1,608)
Share-based compensation expense 2,044 1,938 1,653
Gain on bargain purchases 0 0 (19,990)
(Gain) loss on sale or disposal of assets 409 (12) 88
(Gain) loss on interest rate swap 580 0 0
Changes in assets and liabilities, net of effects of purchase of businesses:      
Accounts receivable 4,151 (6,409) (6,095)
Inventories (4,358) 16,082 (3,607)
Prepaid expenses and other assets (3,382) (273) 2,506
Accounts payable 5,694 (220) (1,153)
Accrued expenses and long-term obligations (3,888) 5,164 (2,473)
Net cash provided by operating activities 1,000 31,368 14,871
Cash flows from investing activities:      
Maturities of investment securities 0 20,000 60,000
Purchase of held-to-maturity investment securities 0 0 (19,928)
Purchase of businesses (2,500) (65,228) (15,039)
Final payment of purchase price for a business previously acquired (2,500) 0 0
Purchase of property, plant and equipment (10,597) (7,291) (4,957)
Purchase of company owned life insurance policy (750) (750) 0
Purchase of intangibles (302) 0 (100)
Proceeds from sale of assets 1,659 36 311
Net cash (used for) provided by investing activities (14,990) (53,233) 20,287
Cash flows from financing activities:      
Borrowings on credit facility 41,714 87,476 0
Repayments on credit facility (55,575) (47,476) 0
Payment of financing transaction costs (1,964) 0 0
Payments on long-term debt (127) (220) (65)
Dividends paid (7,179) (7,293) (7,273)
Purchase of treasury stock (4,372) 0 0
Proceeds from exercise of stock options 0 201 123
Payments for tax withholding on net restricted stock settlements (9) 0 (527)
Tax effect of stock awards 0 0 286
Net cash provided by (used for) financing activities (27,512) 32,688 (7,456)
Effect of exchange rate changes on cash 42 44 64
Net increase (decrease) in cash and cash equivalents (41,460) 10,867 27,766
Cash and cash equivalents at beginning of year 58,560 47,693 19,927
Cash and cash equivalents at end of year $ 17,100 $ 58,560 $ 47,693