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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 34,720 $ 69,365
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 1,495 1,726
Amortization of intangible assets 1,397 1,397
Lower of cost or net realizable value reserve (1,104) (1,155)
Allowance for doubtful accounts 851 1,207
Stock compensation expense 1,819 583
Amortization of deferred finance costs 538 2,004
Loss on extinguishment of debt   4,665
Deferred tax expense (benefit) 2,917 (1,602)
Changes in assets and liabilities:    
Trade accounts receivable (29,037) (30,727)
Inventories 12,037 (23,366)
Prepaid and other assets (5,200) 1,677
Lease obligations 2 15
Income taxes receivable (1,741)  
Accounts payable and accrued expenses 2,552 8,078
Cash provided by operating activities 21,246 33,867
Cash flows from investing activities:    
Additions to property, plant, and equipment (837) (820)
Cash used in investing activities (837) (820)
Cash flows from financing activities:    
Proceeds from issuance of common stock 39 123
Excess tax benefits from exercise of stock options (3) (73)
Payment of deferred financing cost   (8,512)
Borrowing of short-term debt - net   (15,000)
Proceeds from long-term debt   100,000
Repayment of long-term debt (14,325) (92,395)
Cash used in financing activities (14,289) (15,857)
Increase in cash and cash equivalents 6,120 17,190
Cash and cash equivalents at beginning of period 5,295 3,492
Cash and cash equivalents at end of period 11,415 20,682
Supplemental Disclosure of Cash Flow Information:    
Cash paid during period for interest 2,952 7,911
Cash paid for income taxes - net $ 10,665 $ 5,908