Annual report pursuant to Section 13 and 15(d)

Consolidated and Combined Statements of Cash Flows

v3.22.0.1
Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2020
Jun. 25, 2020
Dec. 31, 2021
Dec. 31, 2019
Operating activities        
Net income (loss) $ (8,437) $ (34,136) $ 83 $ 30,812
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Stock-based compensation 1,262 0 8,715 0
Depreciation 1,652 1,334 4,727 3,031
Amortization of intangible assets 6,021 4,927 18,295 10,724
Deferred income taxes (2,842) (5,578) (12,300) (10,500)
Asset impairment charges 0 40,600 0 0
Amortization of inventory fair value adjustments 12,613 0 (3,396) 0
Non-cash loss on extinguishment of debt 0 0 4,435 0
Change in fair value of warrant liabilities 0 0 (29) 0
Changes in current assets and liabilities:        
Accounts receivable (4,554) 7,726 964 1,311
Inventories (5,305) 3,576 (22,957) 2,004
Prepaid expenses and other current assets (2,066) 3,330 (1,030) (3,097)
Accounts payable, accrued liabilities and income taxes (7,939) 507 12,050 (3,057)
Other, net 150 (2,378) (75) 437
Net cash provided by (used in) operating activities (9,445) 19,908 9,482 31,665
Investing activities        
Capital expenditures (4,489) (3,532) (12,198) (4,037)
Acquisitions, net of cash acquired (456,508) 0 (190,231) 0
Proceeds from sale of fixed assets 0 0 4,516 0
Transfer from trust account 178,875 0 0 0
Net cash used in investing activities (282,122) (3,532) (197,913) (4,037)
Financing activities        
Proceeds from revolving credit facility 47,855 3,500 25,000 1,500
Repayments of revolving credit facility 0 (8,500) (47,855) 0
Long-term borrowings 140,000 0 375,000 0
Repayments of long-term borrowings (3,500) 0 (139,314) 0
Debt issuance costs (7,139) 0 (11,589) 0
Proceeds from sale of common stock and warrants 75,000 0 1 0
Tax withholdings related to net share settlements of stock-based awards 0 0 (1,913) 0
Funding to Parent, net 0 (11,924) 0 (25,442)
Net cash provided by (used in) financing activities 252,216 (16,924) 199,330 (23,942)
Effect of exchange rate changes on cash and cash equivalents 714 215 499 (496)
Net change in cash and cash equivalents (38,637) (333) 11,398 3,190
Cash and cash equivalents, beginning of period 55,535 10,395 16,898 7,205
Cash and cash equivalents, end of period 16,898 55,535 28,296 10,395
Supplemental disclosure of cash flow information        
Interest paid 3,328 798 21,203 0
Taxes paid, net of refunds 3,091 2,244 4,523 4,571
Supplemental disclosure of non-cash investing        
Non-cash capital expenditures 0 0 $ 3,796 $ 0
Predecessors        
Financing activities        
Cash and cash equivalents, beginning of period $ 10,062      
Cash and cash equivalents, end of period   $ 10,062