| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net loss | ||||||||||
49,166 | 43,905 | 55,324 | 39,009 | 44,176 | 39,961 | 11,639 | 6,012 | 19,040 | 1,662 | 9,843 |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
19,212 | 19,085 | 18,584 | 16,742 | 12,281 | 9,225 | 8,693 | 8,018 | 8,176 | 11,705 | 11,958 |
Inventory step up of acquired business included in cost of sales | ||||||||||
- | - | - | 125 | 1,956 | - | - | - | - | - | - |
Amortization of deferred financing costs and debt discount | ||||||||||
1,214 | 1,214 | 1,214 | 950 | 720 | 759 | 758 | 955 | 832 | 872 | 1,209 |
Loss on extinguishment of debt | ||||||||||
- | - | - | - | - | -1,870 | - | - | -673 | -7,967 | - |
Loss on disposal of fixed assets | ||||||||||
- | 185 | - | - | - | 67 | 647 | - | - | - | - |
Stock-based compensation | ||||||||||
3,239 | 4,550 | 3,500 | 2,898 | 3,275 | 2,868 | 2,587 | 2,166 | 1,873 | 4,029 | 732 |
Provision for losses on accounts receivable | ||||||||||
1,361 | 531 | 1,475 | 208 | 305 | 577 | 329 | 259 | 47 | 445 | 133 |
Deferred income taxes | ||||||||||
-2,123 | 9,551 | -15,242 | 5,413 | 5,807 | -326 | 10,728 | 8,090 | 6,497 | 641 | 1,810 |
Earnout liability | ||||||||||
-417 | -900 | -1,786 | -1,128 | 623 | 947 | 3,951 | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
7,747 | 511 | 1,154 | -2,419 | 7,094 | 4,201 | 16,643 | -8,335 | -2,974 | 5,313 | 3,717 |
Inventories | ||||||||||
-4,054 | 12,347 | -894 | -605 | 5,292 | 3,963 | -6,445 | 6,287 | 524 | -3,216 | -2,105 |
Prepaid assets, refundable income taxes and other assets | ||||||||||
2,140 | 1,114 | -65 | -1,699 | 5,886 | -2,085 | -1,717 | 5,459 | -201 | -1,437 | 776 |
Accounts payable | ||||||||||
-2,562 | 3,039 | -2,487 | -113 | 4,802 | -3,199 | 1,559 | 330 | 2,193 | -2,323 | 218 |
Accrued expenses and other current liabilities | ||||||||||
6,491 | 312 | 5,481 | -3,434 | 3,138 | 6,595 | 2,885 | -6,171 | 4,554 | -7,201 | 1,127 |
Deferred compensation | ||||||||||
- | - | - | - | - | - | - | -156 | -155 | -415 | -162 |
Benefit obligations and other long-term liabilities | ||||||||||
7,548 | -9,319 | 486 | 4,527 | -2,346 | 482 | -3,047 | -473 | 1,347 | -945 | 1,091 |
Net cash used in operating activities | ||||||||||
77,296 | 58,181 | 66,354 | 69,920 | 56,465 | 53,747 | 32,248 | 15,619 | 47,728 | 15,777 | 25,571 |
Investing activities | ||||||||||
Capital expenditures | ||||||||||
11,533 | 9,690 | 7,563 | 9,830 | 10,009 | 5,254 | 2,775 | 1,446 | 2,373 | 3,009 | 8,200 |
Proceeds from sale of assets held for sale | ||||||||||
- | - | - | - | - | 1,018 | - | 80 | 67 | 226 | - |
Acquisition of businesses | ||||||||||
- | - | 7,385 | 181,344 | 11,818 | 86,693 | 26,734 | - | - | - | - |
Net cash used in investing activities | ||||||||||
-11,533 | -9,690 | -14,948 | -191,174 | -21,827 | -90,929 | -29,509 | -1,366 | -2,306 | -2,783 | -8,200 |
Shares withheld on restricted stock vesting paid for employees' taxes | ||||||||||
50 | 23 | 923 | - | 27 | 97 | 160 | - | - | - | - |
Stock repurchases | ||||||||||
- | - | - | - | - | - | - | - | - | 166 | 1,000 |
Proceeds from exercise of stock options | ||||||||||
- | - | - | - | 111 | - | - | - | 1,343 | - | - |
Payment of call premium and post payoff interest on senior notes redemption | ||||||||||
- | - | - | - | - | - | - | - | - | 3,876 | - |
Collection of shareholders' notes receivable | ||||||||||
- | - | - | - | - | - | - | - | 482 | 531 | - |
Payments of financing costs | ||||||||||
- | - | 1,608 | 2,320 | - | 2,132 | - | 168 | 3,471 | 2,605 | - |
Proceeds from initial public offering, net | ||||||||||
- | - | - | - | - | - | - | - | - | 63,929 | - |
Borrowings on long-term debt | ||||||||||
- | - | - | 129,350 | - | 188,100 | - | - | 123,750 | 40,000 | - |
Earnout payment | ||||||||||
- | - | -5,487 | - | - | - | - | - | - | - | - |
Dividends paid | ||||||||||
25,183 | 24,383 | 21,974 | 21,451 | 20,173 | 19,598 | 18,699 | 18,231 | 25,793 | 8,222 | - |
Short-term borrowings (repayments), net | ||||||||||
- | - | - | - | - | -13,000 | 13,000 | - | - | - | - |
Repayment of long-term debt | ||||||||||
32,685 | 33,140 | 3,148 | 2,560 | 1,900 | 111,760 | 1,152 | 11,150 | 122,450 | 151,509 | 850 |
Net cash provided by (used in) financing activities | ||||||||||
-57,918 | -57,546 | -33,140 | 103,019 | -21,989 | 41,513 | -7,011 | -29,549 | -26,139 | -61,918 | -1,850 |
Change in cash and cash equivalents | ||||||||||
7,845 | -9,055 | 18,266 | -18,235 | 12,649 | 4,331 | -4,272 | -15,296 | 19,283 | -48,924 | 15,521 |
Non-cash operating and financing activities | ||||||||||
Truck chassis inventory acquired through floorplan obligations | ||||||||||
44,929 | 38,129 | 45,472 | 13,697 | - | - | - | - | - | - | - |
Pension settlement | ||||||||||
6,609 | - | - | - | - | - | - | - | - | - | - |
Supplemental disclosure of cash flow information | ||||||||||
Income taxes paid | ||||||||||
13,283 | 8,465 | 6,607 | 16,440 | 21,633 | 17,012 | 2,355 | 1,558 | 2,479 | 1,663 | 1,895 |
Interest paid | ||||||||||
15,779 | 15,878 | 17,224 | 14,235 | 10,519 | 7,505 | 7,597 | 7,435 | 7,767 | 16,886 | 14,410 |