Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net Loss $ (35,747) $ (25,578) $ (115,781)
Adjustments to Reconcile Net Loss to Cash Flows from Operating Activities:      
Depreciation and Amortization 27,777 29,005 31,854
Provision for Losses on Inventory and Receivables 3,415 3,942 6,079
Equity-based Compensation Expense 6,497 6,460 5,184
Deferred Tax Expense (Benefit) 19 (441) 15,553
Operating Lease Non-cash Expense 6,028 5,198 4,500
Net Gain on Sales of Assets 0 (5,083) 0
Contingent Consideration Liability Fair Value Adjustment 0 (2,200) 0
Non-cash 401K Contribution 4,512 4,199 0
Net Gain on Sale of Businesses, Before Taxes (11,284) (10,677) 0
Impairment Loss 0 0 87,016
Accrued Litigation Claim 500 8,374 0
Equity Investment Other Than Temporary Impairment 0 0 3,493
Restructuring Activities 0 267 1,173
Deferral of Federal Payroll Taxes 0 0 5,877
Other 3,086 3,912 2,157
Cash Flows from Changes in Operating Assets and Liabilities:      
Accounts Receivable (41,646) (14,832) 53,928
Inventories (34,058) (5,150) (13,614)
Prepaid Expenses and Other Current Assets 261 20 (45)
Accounts Payable 27,843 8,610 (9,930)
Accrued Expenses 787 (5,037) (17,667)
Income Taxes Payable/Receivable 16,134 156 (10,440)
Customer Advanced Payments and Deferred Revenue 5,264 (235) (7,043)
Operating Lease Liabilities (7,295) (6,036) (4,556)
Supplemental Retirement Plan and Other Liabilities (405) (404) (403)
Cash Flows from Operating Activities (28,312) (5,530) 37,335
Cash Flows from Investing Activities      
Proceeds from Sale of Businesses and Assets 22,061 9,213 0
Capital Expenditures (7,675) (6,034) (7,459)
Other Investing Activities 0 0 1,662
Cash Flows from Investing Activities 14,386 3,179 (5,797)
Cash Flows from Financing Activities      
Proceeds from Long-term Debt 125,825 20,000 155,000
Principal Payments on Long-term Debt (124,825) (30,000) (170,228)
Purchase of Outstanding Shares for Treasury 0 0 (7,732)
Stock Award and Employee Stock Purchase Plan (“ESPP”) activity 97 3,396 666
Finance Lease Principal Payments (93) (901) (1,922)
Financing-related Costs (2,416) 0 (360)
Cash Flows From Financing Activities (1,412) (7,505) (24,576)
Effect of Exchange Rates on Cash (641) (799) 1,544
(Decrease) Increase in Cash and Cash Equivalents (15,979) (10,655) 8,506
Cash and Cash Equivalents at Beginning of Year 29,757 40,412 31,906
Cash and Cash Equivalents at End of Year 13,778 29,757 40,412
Supplemental Disclosure of Cash Flow Information      
Interest Paid 7,605 5,951 5,829
Income Taxes Refunded, Net of Payments (9,978) (1,250) (1,536)
Capital Expenditures in Accounts Payable $ 490 $ 0 $ 0