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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (21,445) $ 16,855
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 6,103 4,373
Goodwill impairment charge 24,458 0
Intangible assets impairment charge 5,581 0
Inventory write-downs 4,795 924
Provision for bad debts - accounts receivable 1,282 1,244
Share-based compensation expense 2,454 1,669
Deferred income tax benefit (2,018) (2,926)
Change in fair value of acquisition-related contingent liabilities 626 1,741
Defined Benefit Plan, Termination Charge 0 6,945
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable (3,025) (896)
Accounts receivable - other 458 (1,392)
Contract assets (8,176) (1,868)
Inventories (9,377) (9,662)
Prepaid expenses and other current assets (925) (2,565)
Other assets 1,812 (1,401)
Accounts payable and other current liabilities (7,325) (14,535)
Payment of acquisition-related contingent liabilities (3,346) (4,220)
Long-term pension liability 1,116 384
Other long-term liabilities (693) 2,320
Net cash used in operating activities (7,645) (3,010)
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (7,039) (11,326)
Acquisition of businesses (11,202) (6,026)
Net cash used in investing activities (18,241) (17,352)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 117,790 127,574
Repayment of debt (85,299) (101,801)
Payment of cash dividends (4,171) (3,437)
Payment of acquisition-related contingent liabilities (1,416) (1,641)
Proceeds received on exercise of stock options 495 2,122
Tax withholdings on vesting of restricted shares and performance based shares (232) (405)
Tax benefit from vesting of acquisition-related restricted stock 0 171
Net cash provided by financing activities 27,167 22,583
Effect of currency exchange rates on cash 89 137
Net increase in cash and cash equivalents 1,370 2,358
Cash and cash equivalents balance, beginning of period 8,935 5,172
Cash and cash equivalents balance, end of period $ 10,305 $ 7,530