| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash flows provided by operating activities | ||||||
Net income (loss) | ||||||
6,984 | -2,475 | -11,346 | 7,055 | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
24,157 | 20,487 | 14,816 | 9,187 | |||
Change in fair value of earn-out liabilities | ||||||
-6,029 | 2,109 | - | - | |||
Equity-based compensation | ||||||
5,740 | 2,528 | 7,497 | - | |||
Deferred expense from income taxes | ||||||
-1,494 | -4,186 | 2,929 | -1,896 | |||
Amortized interest on deferred debt issuance costs | ||||||
610 | 663 | 558 | 273 | |||
Loss on extinguishments of debt | ||||||
- | -42 | -988 | - | |||
Increase in allowance for doubtful accounts | ||||||
349 | 283 | -127 | -101 | |||
Gain on disposal of property and equipment, net | ||||||
223 | 139 | -57 | -1 | |||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-1,225 | 4,370 | 8,784 | -3,348 | |||
Inventories | ||||||
-979 | -1,209 | 24,024 | 4,345 | |||
Prepaid expenses and other current assets | ||||||
3,012 | -151 | 1,616 | -592 | |||
Related party receivable | ||||||
- | - | - | -44 | |||
Other assets | ||||||
12 | 174 | 110 | 248 | |||
Accounts payable | ||||||
5,194 | -11,891 | 9,166 | -410 | |||
Accrued expenses and other current liabilities | ||||||
-2,212 | 3,847 | 2,965 | 1,275 | |||
Income taxes receivable | ||||||
-1,905 | 1,240 | -2,405 | 504 | |||
Customer deposit | ||||||
-1,281 | 2,888 | 1,069 | 261 | |||
Other long-term liabilities | ||||||
1,885 | - | - | - | |||
Net cash provided by operating activities | ||||||
30,955 | 12,212 | -8,367 | 15,540 | |||
Cash flows used in investing activities | ||||||
Purchase of property and equipment | ||||||
9,169 | 8,507 | 4,218 | 3,477 | |||
Proceeds from disposal of property and equipment | ||||||
65 | 6 | 144 | 30 | |||
Net cash used in investing activities | ||||||
-24,641 | -80,624 | -118,837 | -14,787 | |||
Cash flows provided by financing activities | ||||||
Proceeds from November 2017 Private Offering and Private Placement, net of issuance costs of $18.0 million | ||||||
- | - | 240,501 | - | |||
Payment of Greencraft Holdings, LLC earn-out liability | ||||||
5,794 | - | - | - | |||
Proceeds from ERP financing | ||||||
2,725 | - | - | - | |||
Proceeds from issuance of equity | ||||||
- | 553 | 30 | - | |||
Proceeds from issuance of equity | ||||||
- | - | - | 12,538 | |||
Proceeds from (payments on) line of credit, net | ||||||
-14,934 | 17,886 | 8,242 | -7,902 | |||
Proceeds from term loan | ||||||
11,500 | 57,250 | 130,000 | - | |||
Term loan deferred issuance costs | ||||||
- | 958 | 2,952 | - | |||
Dividends issued | ||||||
- | - | 35,421 | 263 | |||
Repurchase of member units | ||||||
- | - | 62,725 | - | |||
Purchase of treasury stock | ||||||
399 | - | - | - | |||
Payments on notes payable and capital leases | ||||||
-1,921 | -1,454 | -667 | - | |||
Payments on notes payable | ||||||
- | - | - | 717 | |||
Principal payments on long-term debt | ||||||
1,851 | 1,050 | 88,949 | 2,002 | |||
Net cash provided by financing activities | ||||||
-10,674 | 72,227 | 128,024 | 1,654 | |||
Net increase (decrease) in cash | ||||||
-4,360 | 3,815 | 820 | 2,407 | |||
Supplemental disclosures of cash flow information | ||||||
Cash paid for interest | ||||||
16,411 | 10,445 | 12,146 | 4,493 | |||
Cash paid for income taxes | ||||||
4,899 | 3,845 | 2,762 | 4,403 | |||
Supplemental disclosures of non-cash investing and financing activities | ||||||
Deferred tax asset adjustment related to November 2017 Restructuring Transactions | ||||||
- | - | 19,845 | - | |||
Supplemental disclosures of non-cash investing activities | ||||||
Acquisition | ||||||
8,251 | 1,804 | 1,270 | 511 | |||
T.A.C. Ceramic Tile Co. | ||||||
Change in fair value of earn-out liabilities | ||||||
2,300 | - | - | - | |||
Acquisition of business, net of cash acquired | ||||||
- | 40,189 | - | - | |||
Acquisitions measurement period adjustments | ||||||
498 | - | - | - | |||
Earn-out purchase price adjustment | ||||||
- | 2,265 | - | - | |||
Summit Stoneworks, LLC | ||||||
Change in fair value of earn-out liabilities | ||||||
1,900 | - | - | - | |||
Acquisition of business, net of cash acquired | ||||||
- | 16,000 | - | - | |||
Earn-out purchase price adjustment | ||||||
- | 1,851 | - | - | |||
Greencraft Holdings, LLC. | ||||||
Change in fair value of earn-out liabilities | ||||||
100 | 2,100 | - | - | |||
Acquisition of business, net of cash acquired | ||||||
3,000 | - | 26,762 | - | |||
Acquisitions measurement period adjustments | ||||||
- | 317 | - | - | |||
Intown Design Inc. | ||||||
Change in fair value of earn-out liabilities | ||||||
2,000 | - | - | - | |||
Acquisition of business, net of cash acquired | ||||||
11,537 | - | - | - | |||
Earn-out purchase price adjustment | ||||||
2,010 | - | - | - | |||
Pental Granite and Marble, LLC | ||||||
Acquisition of business, net of cash acquired | ||||||
- | - | 88,001 | - | |||
Acquisition | ||||||
- | - | 10,000 | - | |||
Bermuda Import-Export, Inc. (“Modul”) | ||||||
Acquisition of business, net of cash acquired | ||||||
- | - | - | 11,340 | |||
Acquisition of Bermuda Import-Export, Inc. credit deposits | ||||||
- | - | - | 330 | |||
Tuscany Collection, LLC | ||||||
Acquisition of business, net of cash acquired | ||||||
- | 4,152 | - | - | |||
NSI, LLC | ||||||
Acquisition of business, net of cash acquired | ||||||
- | 290 | - | - | |||
Elegant Home Design, LLC | ||||||
Acquisition of business, net of cash acquired | ||||||
1,000 | 11,492 | - | - | |||
Acquisition of Elegant Home Design, LLC, indemnity holdback | ||||||
- | 1,000 | - | - | |||
Class B Common Stock | ||||||
Repurchase and retirement of stock | ||||||
- | - | 60,035 | - | |||
Contribution of member units for Class B Common Stock | ||||||
- | - | 10,264 | - | |||
PT Tile Holdings, LP | ||||||
Acquisitions measurement period adjustments | ||||||
- | - | - | 140 | |||