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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (34,164) $ 25,051
Adjustments to reconcile net income (loss) to net cash provided by (used) in operating activities:    
Depreciation and amortization 9,504 6,719
Goodwill impairment charge 45,918 0
Intangible assets impairment charge 5,581 0
Inventory write-downs 5,781 883
Provision for bad debts - accounts receivable 3,486 1,715
Share-based compensation expense 3,382 2,757
Deferred income tax benefit (6,361) (2,927)
Change in fair value of acquisition-related contingent liabilities 284 2,310
Change in fair value of written put options (1,791) 0
Defined Benefit Plan, Termination Charge 0 6,945
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable 1,600 7,544
Accounts receivable - other 978 (732)
Contract assets (10,222) 1,656
Inventories (19,242) (14,550)
Prepaid expenses and other current assets 579 (4,445)
Other assets 2,677 (1,462)
Accounts payable and other current liabilities (9,561) (12,287)
Payment of acquisition-related contingent liabilities (3,346) (4,220)
Long-term pension liability 1,662 860
Other long-term liabilities (1,249) 2,344
Net cash provided by (used in) operating activities (4,504) 18,161
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (11,221) (14,455)
Acquisition of businesses (11,202) (6,026)
Net cash used in investing activities (22,423) (20,481)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 320,143 173,436
Repayment of debt (274,898) (165,023)
Debt issuance costs (869) 0
Payment of cash dividends (6,380) (5,334)
Payment of acquisition-related contingent liabilities (1,416) (1,641)
Proceeds received on exercise of stock options 684 2,452
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 37,032 3,656
Effect of currency exchange rates on cash (132) (100)
Net increase in cash and cash equivalents 9,973 1,236
Cash and cash equivalents balance, beginning of period 8,935 5,172
Cash and cash equivalents balance, end of period $ 18,908 $ 6,408