XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) for the year $ 112,770 $ 1,164 $ (97,412)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation 31,758 25,984 25,989
Amortization of intangibles 15,211 22,858 21,981
Net gain on sale of property, plant and equipment and business divestiture (635) (1,594) (1,567)
Loss on debt extinguishment 0 9,504 396
Deferred income taxes (7,614) (8,147) 5,016
Stock-based compensation 9,746 7,059 4,509
Non-cash interest expense 868 1,082 1,112
Impairment 1,339 29,163 107,114
Accounts receivable (79,066) (80,879) 71,436
Inventories (6,249) (74,804) 21,099
Prepaid expenses and other 1,069 8,570 (2,875)
Accounts payable and accrued liabilities 46,085 54,862 (28,266)
Other, net (1,198) (2,292) (4,398)
Net cash provided by (used in) operating activities 124,084 (7,470) 124,134
Cash flows from investing activities:      
Cash payments for capital expenditures (57,086) (49,105) (20,131)
Proceeds from sale of assets and business divestiture 1,781 22,029 17,115
Net cash used in investing activities (55,305) (27,076) (3,016)
Cash flows from financing activities:      
Proceeds from exercise of stock options 2,224 2,228 1,273
Dividends paid (16,020) (16,435) (17,324)
Borrowings under revolving credit facilities 97,549 50,823 45,794
Payments under revolving credit facilities (130,584) (17,788) (45,794)
Principal payments under finance lease obligations (59) (319) (327)
Borrowings under new senior notes 0 400,000 0
Principal payments against old senior notes 0 (315,000) (10,000)
Borrowings under term loan credit facility, net of original issuance discount 0 0 148,500
Principal payments under term loan credit facility 0 (138,835) (146,393)
Debt issuance costs paid (1,137) (9,296) (791)
Stock repurchases (34,285) (66,731) (18,895)
Net cash used in financing activities (82,312) (111,353) (43,957)
Cash, cash equivalents, and restricted cash:      
Net (decrease) increase in cash, cash equivalents, and restricted cash (13,533) (145,899) 77,161
Cash, cash equivalents, and restricted cash at beginning of period 71,778 217,677 140,516
Cash, cash equivalents, and restricted cash at end of period 58,245 71,778 217,677
Supplemental disclosures of cash flow information:      
Cash paid for interest 20,131 22,040 23,411
Net cash paid (refunds received) for income taxes 18,333 (467) (4,670)
Period end balance of payables for property, plant, and equipment $ 18,809 $ 3,785 $ 2,840