| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
74,244 | 59,848 | 44,024 | 16,736 | 15,891 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
43,782 | 46,460 | 46,646 | 51,308 | 54,317 | ||
(Release of)/provision for bad debt expense | ||||||
- | - | - | - | 413 | ||
Amortization of debt issuance costs and debt discount | ||||||
1,234 | 1,177 | 1,947 | 2,315 | 9,210 | ||
Loss on disposal of property, plant and equipment | ||||||
- | - | - | - | 0 | ||
Losses from equity method investment | ||||||
-1,522 | -187 | -736 | -750 | -113 | ||
Amortization of deferred gain on terminated swaps | ||||||
-1,083 | 0 | - | - | - | ||
Debt issuance expense | ||||||
-317 | -1,170 | -5,802 | 0 | 0 | ||
Share-based compensation | ||||||
2,928 | 2,784 | 2,288 | 801 | 797 | ||
Deferred taxes | ||||||
4,735 | -3,414 | 6,504 | 3,407 | 11,105 | ||
Change in assets and liabilities: | ||||||
Trade receivables | ||||||
-201 | 6,296 | -3,342 | -4,133 | 8,268 | ||
Inventories | ||||||
7,558 | -488 | -1,921 | -2,116 | 1,645 | ||
Prepaid expenses and other current assets | ||||||
4,977 | 3,735 | -895 | -844 | 783 | ||
Accounts payable | ||||||
14,716 | 3,987 | 2,058 | -1,323 | -3,805 | ||
Accrued and other current liabilities | ||||||
961 | -830 | 360 | 1,682 | -665 | ||
Other long-term liabilities | ||||||
-204 | -159 | -256 | -191 | 1,311 | ||
Net cash provided by operating activities | ||||||
130,818 | 101,667 | 116,267 | 82,578 | 77,991 | ||
Payments for property, plant and equipment | ||||||
28,857 | 21,459 | 11,733 | 8,812 | 5,698 | ||
Payments for intangible assets | ||||||
1,902 | 583 | 414 | - | - | ||
Software purchased or developed | ||||||
- | - | - | 1,217 | 3,940 | ||
Proceeds from insurance recoveries | ||||||
125 | 0 | - | - | - | ||
Capital contributions to equity method investment | ||||||
703 | 2,219 | 349 | 103 | 0 | ||
Distributions from equity method investment | ||||||
468 | 790 | 855 | 1,010 | 1,968 | ||
Net cash used in investing activities | ||||||
-30,869 | -23,471 | -11,641 | -9,122 | -7,670 | ||
Cash flows from financing activities: | ||||||
Capital contribution from Lone Star Funds | ||||||
- | - | - | 29,750 | 0 | ||
Proceeds from exercise of stock options | ||||||
145 | 230 | 20 | 873 | 0 | ||
Tax withholdings on share-based compensation | ||||||
547 | 240 | 0 | 0 | - | ||
Proceeds from debt refinancing | ||||||
0 | 545,198 | 275,000 | 0 | 0 | ||
Disbursements for debt refinancing | ||||||
0 | 545,198 | 271,988 | 0 | 0 | ||
Payments of financing costs | ||||||
415 | 1,170 | 4,424 | 0 | 0 | ||
Proceeds from Issuance of Common Stock | ||||||
- | - | - | - | 151,354 | ||
Principal payments for debt | ||||||
18,916 | 2,052 | 26,375 | 55,000 | 61,975 | ||
Proceeds from Industrial Revenue Bonds | ||||||
16,200 | 0 | 0 | - | - | ||
Repayment of Second Lien Credit Agreement | ||||||
- | - | - | - | 155,000 | ||
Payments to repurchase common stock | ||||||
65,693 | 54,601 | 40,277 | 48,479 | 0 | ||
Net cash used in financing activities | ||||||
-69,226 | -57,833 | -68,044 | -72,856 | -65,621 | ||
Effect of foreign exchange rates on cash and cash equivalents | ||||||
-611 | 622 | 225 | -1,498 | -895 | ||
Net change in cash and cash equivalents | ||||||
30,112 | 20,985 | 36,807 | -898 | 3,805 | ||