v3.20.2
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net (loss) income $ (19,292) $ 16,501
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,403 13,637
Deferred taxes (2,980) (312)
Stock-based compensation 1,313 1,982
Loss on sale of a business entity and certain assets 8,214 0
Gain on sale of property and equipment (1,000) 0
Goodwill and intangible asset impairment 33,734 0
Earn-out obligation fair value adjustment (1,399) 0
Changes in operating assets and liabilities, net of impact of acquisitions:    
Receivables 4,588 (6,599)
Unbilled receivables 193 (4,706)
Inventories (19,884) (23,942)
Other current assets and noncurrent assets (8,320) (3,914)
Accounts payable and deferred compensation 11,512 14,149
Accrued expenses and other current and noncurrent liabilities 3,726 (2,744)
Net cash provided by operating activities 22,808 4,052
Cash flows from investing activities:    
Purchases of property and equipment (1,828) (6,303)
Proceeds from the sale of property and equipment 2,424 4
Proceeds from the sale of a business entity and certain assets 20,753 0
Cash paid for acquisitions, net of cash acquired 0 (112,660)
Net cash provided by (used in) investing activities 21,349 (118,959)
Cash flows from financing activities:    
Borrowings on loan agreement 235,118 300,726
Repayments on loan agreement (244,843) (182,516)
Earn-out obligation payments (31,701) 0
Payment of debt financing costs (636) 0
Payments of taxes for equity transactions (635) (955)
Dividends paid (1,981) (1,750)
Net cash (used in) provided by financing activities (44,678) 115,505
Net (decrease) increase in cash and cash equivalents (521) 598
Cash and cash equivalents at beginning of period 734 162
Cash and cash equivalents at end of period 213 760
Supplemental disclosure of noncash investing and financing activities:    
Notes receivable from the sale of a business entity and certain assets $ 13,482 $ 0

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