| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net (loss) income | ||||||
90,360 | 85,952 | 14,677 | 2,803 | -1,373 | ||
Adjustment to reconcile net (loss) income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
26,925 | 18,422 | 6,635 | 3,792 | 2,395 | ||
Loss on disposal of asset | ||||||
-261 | -318 | -498 | - | -22 | ||
Write-off of deposit | ||||||
202 | - | - | - | - | ||
Allowance for credit losses | ||||||
339 | - | - | 131 | - | ||
Stock-based compensation | ||||||
4,475 | 3,861 | 3,701 | 127 | 64 | ||
Amortization of debt issuance costs | ||||||
753 | 296 | 51 | 4 | - | ||
Change in payables related to Tax Receivable Agreement | ||||||
- | - | 23,022 | - | - | ||
Deferred income tax expense | ||||||
16,122 | 12,277 | 33,462 | - | - | ||
Other | ||||||
150 | -620 | 28 | - | - | ||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-853 | 26,766 | 8,469 | 3,065 | -1,047 | ||
Prepaid expenses and other assets | ||||||
-2,332 | 686 | 3,273 | -109 | -1,148 | ||
Inventories | ||||||
2,744 | 10,470 | 7,532 | -327 | -1,794 | ||
Accounts payable | ||||||
-3,582 | 4,469 | 4,224 | 41 | -1,515 | ||
Accrued liabilities | ||||||
4,183 | 2,614 | 5,805 | 252 | -1,426 | ||
Deferred revenue | ||||||
-25,458 | 25,458 | - | - | - | ||
Net cash provided by operating activities | ||||||
114,871 | 116,365 | 26,729 | 4,521 | 2,156 | ||
Investment in property, plant and equipment | ||||||
34,852 | 161,079 | 93,912 | 10,899 | 27,790 | ||
Cash received from insurance proceeds | ||||||
618 | 540 | - | - | - | ||
Proceeds from disposal of assets | ||||||
232 | - | - | - | 4 | ||
Purchase price adjustment on acquisition | ||||||
- | - | - | - | 73 | ||
Cash paid for Railtronix® acquisition | ||||||
- | - | 5,000 | - | - | ||
Investment in intangible assets | ||||||
- | 6 | 72 | 36 | - | ||
Net cash used in investing activities | ||||||
-34,002 | -160,545 | -98,984 | -10,935 | -27,859 | ||
Cash flows from financing activities: | ||||||
Share repurchases | ||||||
3,249 | - | - | - | - | ||
Proceeds from borrowings under the senior secured credit facility | ||||||
- | 13,000 | 3,000 | 2,500 | - | ||
Repayment of senior secured credit facility | ||||||
13,000 | - | 5,500 | - | - | ||
Payments related to debt issuance costs | ||||||
197 | 1,014 | 111 | 153 | - | ||
Proceeds from issuance of Class A common stock sold in initial public offering, net of offering costs | ||||||
- | - | 111,075 | - | - | ||
Proceeds from issuance of Class A common stock sold in November Offering, net of offering costs | ||||||
- | - | 44,684 | - | - | ||
Proceeds from members’ contributions | ||||||
- | - | - | 948 | 8,162 | ||
Distributions paid to unitholders | ||||||
- | - | 25,818 | - | - | ||
Proceeds from pay down of promissory note related to membership units | ||||||
- | - | 5,256 | - | - | ||
Distribution and dividend paid to Solaris LLC unitholders (other than Solaris Inc.) and Class A common shareholders | ||||||
19,260 | 4,713 | - | - | - | ||
Payments under finance leases | ||||||
35 | 28 | 27 | 25 | 25 | ||
Payments under insurance premium financing | ||||||
2,485 | 1,275 | - | - | - | ||
Payments under notes payable | ||||||
- | - | -451 | -211 | -254 | ||
Proceeds from stock option exercises | ||||||
294 | 932 | - | - | - | ||
Payments related to purchase of treasury stock | ||||||
1,112 | 1,146 | - | - | 5 | ||
Other | ||||||
- | 60 | - | - | - | ||
Net cash used in financing activities | ||||||
-39,044 | 5,816 | 132,108 | 3,059 | 7,878 | ||
Net decrease in cash | ||||||
41,825 | -38,364 | 59,853 | -3,355 | -17,825 | ||
Non-cash activities | ||||||
Capitalized depreciation in property, plant and equipment | ||||||
735 | 688 | 668 | 674 | 539 | ||
Property and equipment additions incurred but not paid at period-end | ||||||
82 | 3,909 | 7,765 | 264 | 198 | ||
Property, plant and equipment additions transferred from inventory | ||||||
5,882 | 7,532 | 1,365 | - | - | ||
Issuance of shares in acquisition | ||||||
- | - | 4,507 | - | - | ||
Insurance premium financing | ||||||
1,869 | 1,552 | - | 397 | 297 | ||
Accrued interest from notes receivable issued for membership units | ||||||
- | - | - | 327 | 208 | ||
Cash paid for: | ||||||
Interest | ||||||
275 | 281 | 104 | 20 | 18 | ||
Income taxes | ||||||
663 | 314 | 45 | 35 | 60 | ||