v3.20.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 76,853 $ (43,404)
Net income (loss) from discontinuing operations 0 (2,017)
Net income (loss) from continuing operations 76,853 (41,387)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation expense 8,934 9,099
Amortization expense of assets and liabilities, net 4,660 4,441
Accretion of convertible note discount 256 1,095
Amortization of marketable securities 0 (129)
Change in fair value of contingent consideration 0 304
(Gain) loss on debt extinguishment (1,172) 2
Provision for doubtful accounts 456 (300)
Stock compensation expense 1,367 1,353
Deferred tax expense 1,034 (432)
Other operating activities 161 77
Changes in assets and liabilities:    
Accounts receivable, net 104,598 (30,516)
Inventories (44,881) (52,009)
Prepaid expenses and other assets (28,273) 9,342
Accounts payable 1,688 (8,618)
Accrued expenses and other liabilities (18,277) (5,352)
Operating lease obligations (4,107) (3,141)
Deferred revenue 2,102 13,016
Net cash flows provided by (used in) operating activities - continuing operations 105,399 (103,155)
Net cash flows used in operating activities - discontinuing operations 0 (2,770)
Cash provided by (used in) operating activities 105,399 (105,925)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for marketable securities 0 (3,478)
Cash received from maturities of marketable securities 0 37,084
Cash paid for purchase of property, plant and equipment (9,030) (8,235)
Cash paid for investments 0 (57)
Net cash flows (used in) provided by investing activities - continuing operations (9,030) 25,314
Net cash flows (used in) provided by investing activities - discontinuing operations 0 0
Cash (used in) provided by investing activities (9,030) 25,314
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings on revolving line of credit 82,756 84,754
Borrowings on other lines of credit 0 15,649
Repayments on other lines of credit 0 (11,908)
Cash paid on notes payable (40,141) (2,004)
Cash paid for debt issuance costs 0 (45)
Cash paid for contingent consideration settlement 0 (3,316)
Cash paid for conversion of restricted stock units and stock appreciation rights (823) (2,931)
Net cash flows provided by financing activities - continuing operations 41,792 80,199
Net cash flows used in financing activities - discontinuing operations 0 0
Cash provided by financing activities 41,792 80,199
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 138,161 (412)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, Beginning of period 53,436 126,575
Effect of exchange rate changes on cash (47) (101)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, End of period 191,550 126,062
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:    
Cash paid for income taxes 0 204
Cash paid for interest 885 849
Leased assets obtained in exchange for new operating lease liabilities 903 1,562
Amounts included in period-end accounts payable for:    
Purchases of property, plant and equipment $ 6,739 $ 2,165

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