v3.20.2
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (11,184) $ 27,028
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,213 20,622
Deferred taxes (2,089) (1,230)
Stock-based compensation 1,723 2,592
Loss on sale of a business entity and certain assets 8,214 0
Gain on sale of property and equipment (928) 0
Goodwill and intangible asset impairment 33,734 0
Earn-out obligation fair value adjustment (3,094) 0
Changes in operating assets and liabilities, net of impact of acquisitions:    
Receivables 4,068 (2,380)
Unbilled receivables 15,099 (12,896)
Inventories (27,566) (29,540)
Other current assets and noncurrent assets (2,119) (481)
Accounts payable and deferred compensation (3,290) 11,793
Accrued expenses and other current and noncurrent liabilities 4,454 1,931
Net cash provided by operating activities 35,235 17,439
Cash flows from investing activities:    
Purchases of property and equipment (2,956) (7,689)
Proceeds from the sale of property and equipment 2,847 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 20,644 (120,345)
Cash flows from financing activities:    
Borrowings on loan agreement 340,679 382,501
Repayments on loan agreement (360,794) (274,969)
Earn-out obligation payments (31,701) 0
Payment of debt financing costs (636) 0
Payments of taxes for equity transactions (635) (955)
Dividends paid (2,975) (2,738)
Net cash (used in) provided by financing activities (56,062) 103,839
Net (decrease) increase in cash and cash equivalents (183) 933
Cash and cash equivalents at beginning of period 734 162
Cash and cash equivalents at end of period 551 1,095
Supplemental disclosure of noncash investing and financing activities:    
Notes receivable from the sale of a business entity and certain assets $ 13,129 $ 0

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