v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (18,267) $ (55,433)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26,446 27,814
Non-cash interest 678 678
Amortization of deferred financing costs 296 281
Losses from investments in investees 37 49
Equity-based compensation – employees and non-employees 2,717 7,617
Realized loss on disposal of fixed assets and sales of equity securities 1,845 61
Change in fair value of equity securities and derivative instruments (7,130) 1,299
Change in fair value of contingent consideration 136 (106)
Deferred income tax benefit 102 (22,356)
Changes in assets and liabilities:    
Accounts receivable, net 7,364 44,421
Inventory, net 1,306 (9,463)
Other current assets and prepaid expenses (58,902) 2,612
Other assets 772 511
Accounts payable 12,759 16,143
Foreign currency measurement (2,355) 2,197
Contract liabilities 2 (4)
Accrued expenses and other liabilities 9,547 (36,177)
Net cash used in operating activities (22,647) (19,856)
Cash flows from investing activities:    
Investments in investees (5,000) 0
Proceeds from the sale of property, plant and equipment 320 348
Capital expenditures (3,037) (5,251)
Net cash used in investing activities (7,717) (4,903)
Cash flows from financing activities:    
Proceeds from the exercise of common stock options 0 136
Borrowings on lines of credit 165,288 1,649,166
Repayments of lines of credit (175,407) (1,657,193)
Redemption of 2033 Senior Notes (3,000) 0
Net cash used in financing activities (13,119) (7,891)
Effect of exchange rate changes on cash and cash equivalents 1,122 221
Net decrease in cash and cash equivalents (42,361) (32,429)
Cash and cash equivalents at beginning of period 153,191 134,710
Cash and cash equivalents at end of period 110,830 102,281
SUPPLEMENTAL INFORMATION:    
Interest paid 3,830 3,420
Income taxes paid, net of refunds 477 1,063
Assets acquired by finance leases $ 960 $ 0

Source