Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Cash Flows

v3.21.1
Condensed Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Operating activities      
Net loss $ (12,025) $ (28,655)  
Adjustments to reconcile net loss to net cash provided by operating activities:      
Stock-based compensation 1,639 0  
Depreciation 969 679  
Amortization of intangible assets 4,151 2,534  
Deferred income taxes 3,402 (648)  
Asset impairment charges 0 40,600  
Pension (115) 0  
Amortization of inventory fair value adjustments 1,619 0  
Non-cash loss on extinguishment of debt 4,435 0  
Change in fair value of warrant liabilities 2,362 0  
Changes in current assets and liabilities:      
Accounts receivable (1,341) 312  
Inventories (4,903) 3,959  
Prepaid expenses and other current assets 665 (949)  
Accounts payable, accrued liabilities and income taxes (7,052) (431)  
Other, net 597 (2,791)  
Net cash (used in) provided by operating activities (5,597) 14,610  
Investing activities      
Capital expenditures (1,544) (894)  
Acquisitions, net of cash acquired (186,601) 0  
Net cash used in investing activities (188,145) (894)  
Financing activities      
Proceeds from revolving credit facility 25,000 3,500  
Repayments of revolving credit facility (47,855) (5,000)  
Long-term borrowings 375,000 0  
Repayments of long-term borrowings (136,500) 0  
Debt issuance costs (11,589) 0  
Funding to Parent, net 0 (12,430)  
Net cash provided by (used in) financing activities 204,056 (13,930)  
Effect of exchange rate changes on cash and cash equivalents 594 314  
Net change in cash and cash equivalents 10,908 100  
Cash and cash equivalents, beginning of period 16,898 10,395 $ 10,395
Cash and cash equivalents, end of period 27,806 10,495 $ 16,898
Supplemental disclosure of cash flow information      
Interest paid 4,491 0  
Taxes paid, net of refunds $ 3,535 $ 1,070