| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
40,239 | -12,183 | 82,480 | -28,370 | |||
Add: loss on sale of discontinued operations | ||||||
-1,589 | 13,713 | 0 | - | |||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ||||||
0 | 10,523 | 4,574 | - | |||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total | ||||||
41,828 | -36,419 | 77,906 | - | |||
Adjustments to reconcile net income to net cash provided by operating activities from continuing operations: | ||||||
Depreciation | ||||||
33,708 | 33,400 | 29,404 | 16,487 | |||
Amortization of intangible assets | ||||||
46,736 | 43,982 | 41,456 | 34,891 | |||
Amortization of debt issuance costs and debt discount | ||||||
2,156 | 7,370 | 9,910 | 5,950 | |||
Inventory fair value purchase accounting adjustment | ||||||
285 | 1,057 | 720 | 6,469 | |||
Gain (Loss) on Extinguishment of Debt | ||||||
0 | -58,475 | 0 | -5,354 | |||
Provision for expected credit losses | ||||||
2,390 | 1,810 | 1,721 | 1,608 | |||
Stock-based compensation | ||||||
4,187 | 2,175 | 1,902 | 0 | |||
Reduction in tax receivable agreement | ||||||
242 | 1,189 | - | - | |||
Unrealized gain on derivative instruments, net | ||||||
0 | 265 | 13,059 | -6,952 | |||
Loss on disposal of property and equipment | ||||||
-584 | -552 | -200 | -1,791 | |||
Right-of-use assets non-cash expense | ||||||
27,801 | 0 | - | - | |||
Paid-in-kind interest | ||||||
- | - | - | 0 | |||
Deferred income taxes | ||||||
-1,038 | 221 | -6,263 | -17,669 | |||
Change in assets and liabilities, net of effects of acquisitions: | ||||||
Accounts receivable | ||||||
-20,272 | 23,326 | -4,602 | -5,985 | |||
Other receivables | ||||||
-1,151 | 1,721 | 3,610 | 13,220 | |||
Inventories | ||||||
8,226 | 8,834 | 10,449 | 9,727 | |||
Prepaid expenses and other current assets | ||||||
-1,168 | -2,708 | -378 | 3,588 | |||
Other assets | ||||||
167 | 1,320 | -2,970 | 800 | |||
Accounts payable | ||||||
2,477 | -1,951 | 19,362 | -21,622 | |||
Accrued payroll and employee benefits | ||||||
2,449 | 11,105 | -5,351 | 3,931 | |||
Accrued taxes | ||||||
-3,164 | 4,893 | -1,528 | 3,392 | |||
Operating lease liability | ||||||
-26,940 | - | - | - | |||
Other liabilities | ||||||
-1,697 | -16,911 | -12,186 | 35,316 | |||
Net cash provided by operating activities from continuing operations | ||||||
145,718 | 75,849 | 70,052 | 33,130 | |||
Cash flows from investing activities from continuing operations: | ||||||
Purchases of property and equipment | ||||||
34,402 | 34,892 | 28,249 | 30,473 | |||
Payments of net working capital adjustments related to acquisitions | ||||||
0 | 40 | 405 | 0 | |||
Proceeds from termination of net investment hedge | ||||||
3,313 | 0 | - | - | |||
Payment of net working capital adjustments | ||||||
0 | 40 | 405 | - | |||
Proceeds from net working capital adjustments related to acquisitions | ||||||
464 | 154 | 8,602 | 0 | |||
Proceeds from the disposal of fixed assets | ||||||
3,441 | 2,315 | 2,586 | 587 | |||
Acquisitions, net of cash acquired | ||||||
33,751 | 93,477 | 73,038 | 401,919 | |||
Net cash used in investing activities from continuing operations | ||||||
-60,935 | -125,940 | -90,504 | -431,805 | |||
Cash flows from financing activities from continuing operations: | ||||||
Proceeds from asset-based revolving credit facility | ||||||
531,993 | 897,911 | 400,239 | 456,469 | |||
Repayments of asset-based revolving credit facility | ||||||
588,993 | 799,272 | 561,509 | 318,000 | |||
Principal payments for term loan | ||||||
4,500 | 0 | - | - | |||
Term loan proceeds | ||||||
0 | 450,000 | 0 | 645,000 | |||
Principal payments on long-term debt | ||||||
0 | 575,000 | 0 | 397,369 | |||
Repayments of Secured Debt | ||||||
0 | 23,872 | 0 | - | |||
Debt issuance costs and deferred finance costs | ||||||
0 | 7,935 | 0 | 34,406 | |||
Payment related to tax receivable agreement | ||||||
16,667 | 0 | 68,033 | 0 | |||
Tax withholding payment related to net settlement of equity awards | ||||||
155 | 61 | 0 | - | |||
Principal repayment of finance lease obligations | ||||||
2,674 | 2,771 | 2,582 | 1,175 | |||
Issuance of common stock | ||||||
- | - | 163,952 | 0 | |||
Capital contributions | ||||||
- | - | 2,997 | 66,205 | |||
Capital distributions | ||||||
- | - | - | 67 | |||
Net cash used in financing activities from continuing operations | ||||||
-80,996 | -61,000 | 3,097 | 416,657 | |||
Cash flows from discontinued operations | ||||||
Net cash used in operating activities from discontinued operations | ||||||
0 | -6,614 | 7,209 | - | |||
Net cash (used in) provided by investing activities from discontinued operations | ||||||
-1,589 | 121,568 | -6,434 | - | |||
Net cash used in financing activities from discontinued operations | ||||||
0 | -162 | -255 | - | |||
Net cash used in discontinued operations | ||||||
-1,589 | 114,792 | 520 | - | |||
Effect of exchange rate changes on cash | ||||||
269 | -503 | 384 | -92 | |||
Net increase (decrease) in cash | ||||||
2,467 | 3,198 | -16,451 | 17,890 | |||
Supplemental disclosures of cash flow information: | ||||||
Cash paid for income taxes | ||||||
13,190 | 2,507 | 4,129 | 4,448 | |||
Cash paid for interest | ||||||
31,749 | 61,199 | 50,866 | 19,745 | |||
Cash paid during the period for early debt repayment penalty | ||||||
- | - | - | 1,600 | |||
Supplemental disclosures of non-cash investing and financing activities: | ||||||
Change in fair value of derivatives, net of tax | ||||||
5,443 | 4,616 | 2,970 | 1,461 | |||
Assets acquired under capital lease | ||||||
- | - | 670 | 3,196 | |||
Goodwill adjustment for purchase price allocation | ||||||
466 | 202 | 519 | 1,210 | |||
Tax receivable agreement | ||||||
- | - | 203,837 | 0 | |||
Embedded derivative in issued notes | ||||||
- | - | 0 | 6,200 | |||
Notes received for disposals of equipment | ||||||
- | - | 134 | 0 | |||