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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 8,012 $ 11,241
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 8,232 3,805
Amortization of debt issuance costs 462 0
Loss on disposal of fixed assets 12 0
Stock compensation expense 935 586
Change in assets and liabilities:    
Receivables 4,219 1,295
Contract receivables 3,272 0
Inventories (83,642) (3,924)
Other current assets (4,127) (1,656)
Other assets (504) (62)
Accounts payable 41,082 8,989
Accrued and other liabilities 2,482 (2,600)
Income taxes (5,239) 422
Contract liabilities (3,684) 0
Net cash (used in) provided by operating activities (28,488) 18,096
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (15,860) (8,618)
Acquisition of business, net of cash acquired (206,970) 0
Proceeds from sales of fixed assets 0 3
Net cash used in investing activities (222,830) (8,615)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 144,685 0
Repayments on revolving credit facility (30,500) 0
Proceeds from term loan 130,000 0
Repayments on term loan (1,625) 0
Debt issuance costs (4,266) 0
Proceeds from stock options 756 29
Repurchase of common stock 0 (2,004)
Dividends paid on common stock (3,167) (3,077)
Net cash provided by (used in) financing activities 235,883 (5,052)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (15,435) 4,429
CASH AND CASH EQUIVALENTS:    
BEGINNING OF PERIOD 28,353 15,518
END OF PERIOD $ 12,918 $ 19,947