| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||
Net income (loss) | |||||||
-97,000 | 52,000 | -52,000 | -234,000 | -502,000 | 116,000 | 147,000 | 108,000 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||||
Depreciation and amortization | |||||||
41,000 | 41,000 | 50,000 | 53,000 | 38,000 | 21,000 | 17,000 | 12,000 |
Deferred income taxes | |||||||
-2,000 | -1,000 | -1,000 | -2,000 | -6,000 | 7,000 | 3,000 | -7,000 |
Stock-based compensation | |||||||
13,000 | 16,000 | 20,000 | 23,000 | 27,000 | 18,000 | 6,000 | 6,000 |
Provision for doubtful accounts | |||||||
- | - | - | 17,000 | 27,000 | 4,000 | 9,000 | - |
Provision for inventory | |||||||
13,000 | 8,000 | 11,000 | 36,000 | 54,000 | 8,000 | 5,000 | - |
Impairment charges | |||||||
128,000 | - | - | - | - | - | - | - |
Impairment of goodwill | |||||||
- | - | - | - | 393,000 | - | - | - |
Other, net | |||||||
30,000 | 3,000 | -8,000 | - | -7,000 | - | -2,000 | 7,000 |
Change in operating assets and liabilities, net of effects of acquisitions and divestitures: | |||||||
Receivables | |||||||
-98,000 | 69,000 | 64,000 | -102,000 | -414,000 | 200,000 | -23,000 | 25,000 |
Inventories | |||||||
-109,000 | 30,000 | 110,000 | -190,000 | -258,000 | 116,000 | -158,000 | 87,000 |
Prepaid and other current assets | |||||||
- | - | - | -4,000 | -12,000 | 1,000 | 11,000 | 3,000 |
Accounts payable and accrued liabilities | |||||||
-110,000 | 54,000 | 43,000 | 22,000 | -367,000 | 261,000 | -9,000 | -59,000 |
Income taxes receivable / payable | |||||||
- | - | - | 25,000 | -18,000 | -6,000 | -6,000 | - |
Accrued income taxes | |||||||
- | - | - | - | - | - | - | -1,000 |
Other, net | |||||||
-1,000 | 1,000 | 4,000 | 1,000 | -1,000 | 4,000 | 23,000 | -37,000 |
Net cash provided by (used in) operating activities | |||||||
224,000 | 73,000 | -115,000 | 235,000 | 324,000 | 108,000 | 317,000 | -12,000 |
Cash flows from investing activities: | |||||||
Purchases of property, plant and equipment | |||||||
12,000 | 11,000 | 4,000 | 4,000 | 11,000 | 39,000 | 55,000 | 14,000 |
Business acquisitions, net of cash acquired | |||||||
8,000 | - | 4,000 | 175,000 | 515,000 | 36,000 | - | 1,113,000 |
Purchases of intangible assets | |||||||
- | - | - | 7,000 | - | - | - | - |
Proceeds from disposal of assets, and other | |||||||
- | - | - | 3,000 | 3,000 | - | - | - |
Other, net | |||||||
2,000 | -2,000 | -16,000 | - | - | -8,000 | -1,000 | - |
Net cash provided by (used in) investing activities | |||||||
-22,000 | -9,000 | 8,000 | -183,000 | -523,000 | -67,000 | -54,000 | -1,127,000 |
Cash flows from financing activities: | |||||||
Net contributions from National Oilwell Varco, Inc. | |||||||
- | - | - | - | - | 67,000 | -298,000 | - |
Borrowings under the revolving credit facility | |||||||
268,000 | 503,000 | 359,000 | 253,000 | 435,000 | - | - | - |
Repayments under the revolving credit facility | |||||||
400,000 | 533,000 | 262,000 | 296,000 | 327,000 | - | - | - |
Net contributions from (distributions to) NOV | |||||||
- | - | - | - | - | - | - | 1,185,000 |
Other, net | |||||||
-6,000 | -7,000 | -3,000 | -4,000 | -2,000 | -1,000 | -1,000 | -1,000 |
Net cash provided by (used in) financing activities | |||||||
-138,000 | -37,000 | 94,000 | -47,000 | 106,000 | 66,000 | -299,000 | 1,184,000 |
Effect of exchange rates on cash and cash equivalents | |||||||
3,000 | -9,000 | 5,000 | 11,000 | -12,000 | -13,000 | -1,000 | 2,000 |
Net change in cash and cash equivalents | |||||||
67,000 | 18,000 | -8,000 | 16,000 | -105,000 | 94,000 | -37,000 | 47,000 |
Supplemental disclosures of cash flow information: | |||||||
Income taxes paid, net | |||||||
7,000 | 6,000 | 2,000 | -23,000 | 10,000 | 65,000 | 73,000 | 65,000 |
Interest paid | |||||||
5,000 | 9,000 | 6,000 | 4,000 | 2,000 | - | - | - |
Contributed property, plant and equipment, net | |||||||
- | - | - | - | - | 4,000 | - | - |
Accrued purchases of property, plant and equipment | |||||||
3,000 | - | - | - | - | 1,000 | - | - |