| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
Net income | ||||||
-4,753 | 17,935 | 5,246 | ||||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||
Depreciation | ||||||
22,296 | 16,372 | 16,975 | ||||
Amortization | ||||||
10,706 | 4,096 | 3,756 | ||||
Stock-based compensation expense | ||||||
3,486 | - | - | ||||
Loss (gain) on extinguishment or forgiveness of debt | ||||||
367 | -814 | - | ||||
Allowance for doubtful accounts | ||||||
- | -48 | - | ||||
Costs recognized on step-up of acquired inventory | ||||||
395 | 583 | - | ||||
Contingent consideration revaluation | ||||||
-6,054 | -21 | - | ||||
Gain on disposal of property, plant and equipment | ||||||
62 | 177 | 23 | ||||
Deferred compensation and long-term incentive | ||||||
11,598 | 4,466 | 1,000 | ||||
Other non-cash adjustments | ||||||
13 | -218 | - | ||||
Changes in operating assets and liabilities – net of effects of acquisition: | ||||||
Accounts receivable | ||||||
-11,853 | -1,042 | -2,570 | ||||
Inventories | ||||||
-8,886 | 6,873 | 2,480 | ||||
Tooling in progress | ||||||
-729 | -489 | 481 | ||||
Prepaids and other current assets | ||||||
1,358 | 4,425 | 106 | ||||
Accounts payable | ||||||
-11,010 | 834 | 2,083 | ||||
Deferred income taxes | ||||||
5,992 | - | - | ||||
Accrued liabilities, excluding long-term incentive | ||||||
-6,938 | 1,410 | 2,261 | ||||
Net cash provided by (used in) operating activities | ||||||
33,402 | 36,715 | 30,801 | ||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
Purchase of property, plant and equipment | ||||||
25,797 | 17,879 | 11,259 | ||||
Proceeds from sale of property, plant and equipment | ||||||
76 | 10 | 24 | ||||
Acquisitions, net of cash acquired | ||||||
2,369 | 114,700 | - | ||||
Net cash used in investing activities | ||||||
-28,090 | -132,569 | -11,235 | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
Proceeds from bank revolving credit notes | ||||||
442,154 | 257,428 | 132,473 | ||||
Payments on bank revolving credit notes | ||||||
429,211 | 228,137 | 133,882 | ||||
Proceeds from issuance of other long-term debt | ||||||
- | 167,094 | - | ||||
Repayments of other long-term debt | ||||||
120,046 | 87,389 | 9,099 | ||||
Deferred financing costs | ||||||
- | 2,173 | 412 | ||||
Proceeds from IPO, net | ||||||
101,763 | - | - | ||||
Purchase of treasury stock | ||||||
2,591 | 7,833 | 8,713 | ||||
Payments on capital leases | ||||||
469 | 123 | - | ||||
Net cash provided by financing activities | ||||||
-8,400 | 98,867 | -19,633 | ||||
Net increase (decrease) in cash and cash equivalents | ||||||
-3,088 | 3,013 | -67 | ||||
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest | ||||||
6,629 | 4,117 | 4,305 | ||||
In conjunction with the DMP acquisition, fair value of assets acquired and liabilities assumed were as followed: | ||||||
Fair value of assets acquired, net of cash acquired | ||||||
- | 167,781 | - | ||||
Liabilities assumed | ||||||
- | 53,081 | - | ||||
Cash paid for acquisition, net of cash acquired | ||||||
- | 114,700 | - | ||||
Non-cash construction in progress in accounts payable | ||||||
2,809 | 1,240 | 186 | ||||