Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Statements of Cash Flows

v3.20.4
Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2020
Jun. 25, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities        
Net loss attributable to common shareholders $ (8,437) $ (34,136) $ 30,812 $ 20,841
Adjustments to reconcile net (loss) income to net cash provided by operating activities:        
Stock-based compensation 1,262 0 0 0
Depreciation 1,652 1,334 3,031 3,591
Amortization of intangible assets 6,021 4,927 10,724 11,111
Deferred income taxes (2,842) (5,578) (10,500) (6,060)
Asset impairment charges 0 40,600 0 0
Pension (169) 126 (1,648) 1,658
Amortization of inventory fair value adjustments 12,613 0 0 0
Changes in current assets and liabilities:        
Accounts receivable (4,554) 7,726 1,311 2,488
Inventories (5,305) 3,576 2,004 (692)
Prepaid expenses and other current assets (2,066) 3,330 (3,097) 236
Accounts payable, accrued liabilities and income taxes (7,939) 507 (3,057) 269
Other, net 319 (2,504) 2,085 362
Net cash (used in) provided by operating activities (9,445) 19,908 31,665 33,804
Investing activities        
Capital expenditures (4,489) (3,532) (4,037) (4,039)
Acquisitions, net of cash acquired (456,508) 0 0 0
Proceeds from sale of fixed assets 0 0 0 1,858
Transfer from trust account 178,875 0 0 0
Net cash used in investing activities (282,122) (3,532) (4,037) (2,181)
Financing activities        
Proceeds from revolving credit facility 47,855 3,500 1,500 7,500
Repayments of revolving credit facility 0 (8,500) 0 (600)
Long-term borrowings 140,000 0 0 0
Repayments of long-term borrowings (3,500) 0 0 0
Debt issuance costs (7,139) 0 0 0
Proceeds from sale of common stock and warrants 75,000 0 0 0
Funding to Parent, net 0 (11,924) (25,442) (35,432)
Net cash provided by (used in) financing activities 252,216 (16,924) (23,942) (28,532)
Effect of exchange rate changes on cash and cash equivalents 714 215 (496) (24)
Net change in cash and cash equivalents (38,637) (333) 3,190 3,067
Cash and cash equivalents, beginning of period 55,535 10,395 7,205 4,138
Cash and cash equivalents, end of period 16,898 55,535 10,395 7,205
Supplemental disclosure of cash flow information        
Interest paid 3,328 798 0 0
Taxes paid, net of refunds 3,091 2,244 $ 4,571 $ 5,175
Predecessors        
Financing activities        
Cash and cash equivalents, beginning of period $ 10,062      
Cash and cash equivalents, end of period   $ 10,062