v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 31,078 $ (59,132)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,989 22,052
Non-cash interest 2,585 2,483
Amortization of deferred financing costs 222 203
Losses from investments in investees 43 134
Equity-based compensation – employees and non-employees 2,647 2,451
Realized loss (gain) on disposal of fixed assets and sales of equity securities (3,039) 102
Change in fair value of equity securities and derivative instruments (279) 9,259
Change in fair value of contingent consideration (957) (860)
Deferred income tax provision (1,033) 613
Changes in assets and liabilities:    
Accounts receivable, net (35,238) (763)
Inventory, net (27,912) (8,831)
Other current assets and prepaid expenses 1,415 (729)
Other assets 1,255 60
Accounts payable 62,231 (4,865)
Foreign currency measurement 946 56
Contract liabilities (790) (9,451)
Accrued expenses and other liabilities (27,126) 3,848
Net cash provided by (used in) operating activities 26,037 (43,370)
Cash flows from investing activities:    
Proceeds from sale of investments 8,079 0
Proceeds from the sale of property, plant and equipment 60 7
Capital expenditures (9,245) (5,626)
Net cash used in investing activities (1,106) (5,619)
Cash flows from financing activities:    
Proceeds from the exercise of common stock options and warrants 308 0
Borrowings on lines of credit 472,213 186,398
Repayments of lines of credit (479,713) (188,009)
Net cash used in financing activities (7,192) (1,611)
Effect of exchange rate changes on cash and cash equivalents (447) (322)
Net increase (decrease) in cash and cash equivalents 17,292 (50,922)
Cash and cash equivalents at beginning of period 72,211 85,452
Cash and cash equivalents at end of period 89,503 34,530
SUPPLEMENTAL INFORMATION:    
Interest paid 4,689 5,012
Income taxes paid, net of refunds $ 1,470 $ 799

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