Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2015
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Dec. 31, 2014
Jun. 29, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:                  
Net loss $ (8,635) $ (9,865) $ (4,081) $ (4,062)   $ (44,526) $ (23,083) $ (63,463)  
Cash flows from financing activities:                  
Cash and cash equivalents at beginning of period   18,485         18,485    
Cash and cash equivalents at end of period 11,385   18,485   $ 18,485   11,385 18,485  
Successor                  
Cash flows from operating activities:                  
Net loss         (18,937)   (23,083)    
Adjustments to reconcile net loss to net cash (used for) provided by operating activities:                  
Depreciation and amortization         36,405   67,030    
(Gain) loss on dispositions of property and equipment         120   (405)    
Deferred income taxes         (7,226)   (13,216)    
Deferred financing and original issue discount amortization         2,405   2,718    
Stock-based compensation expense         675   1,290    
Other non-cash interest and change in value of interest rate swap         935   1,629    
Changes in operating items:                  
Accounts receivable         22,434   11,471    
Inventories         (14,641)   (48,982)    
Other assets         (8,397)   (1,956)    
Accounts payable         6,187   1,013    
Interest payable on junior subordinated debentures         (1,019)   0    
Other accrued liabilities         (28,291)   907    
Other items, net         (2,799)   (593)    
Net cash (used for) provided by operating activities         (12,149)   (2,177)    
Cash flows from investing activities:                  
Acquisition         (729,616)   0    
Capital expenditures         (14,975)   (28,199)    
Proceeds from sale of property and equipment         0   2,182    
Net cash used for investing activities         (744,591)   (26,017)    
Cash flows from financing activities:                  
Borrowings of senior term loans         550,000   0    
Repayments of senior term loans         (387,157)   (5,500)    
Discount on senior term loans         0   0    
Borrowings of revolving credit loans         16,000   55,000    
Repayments of revolving credit loans         (16,000)   (27,000)    
Principal payments under capitalized lease obligations         (112)   (158)    
Borrowings of senior notes         330,000   0    
Repayment of senior notes         (265,000)   0    
Purchase of Holdco stock from a former member of management         0   (540)    
Proceeds from Holdco sale of stock         0   400    
Proceeds from sale of successor equity securities         542,929   0    
Capital contribution from board member         1,000   0    
Financing fees         (26,355)   0    
Borrowings under other credit obligations         0   0    
Repayments of other credit obligations         (70)   0    
Net cash provided by (used for) financing activities         745,235   22,202    
Effect of exchange rate changes on cash         (3,040)   (1,108)    
Net decrease in cash and cash equivalents         (14,545)   (7,100)    
Cash and cash equivalents at beginning of period   $ 18,485         18,485    
Cash and cash equivalents at end of period $ 11,385   $ 18,485   18,485 33,030 11,385 18,485  
Successor | Paulin                  
Cash flows from investing activities:                  
Acquisition         $ 0   $ 0    
Predecessor                  
Cash flows from operating activities:                  
Net loss           (44,526)     $ (1,148)
Adjustments to reconcile net loss to net cash (used for) provided by operating activities:                  
Depreciation and amortization           25,242     46,908
(Gain) loss on dispositions of property and equipment           0     777
Deferred income taxes           (24,458)     (3,624)
Deferred financing and original issue discount amortization           1,374     2,492
Stock-based compensation expense           39,229     9,006
Other non-cash interest and change in value of interest rate swap           0     (418)
Changes in operating items:                  
Accounts receivable           (25,267)     (9,098)
Inventories           (17,851)     (11,467)
Other assets           8,799     (4,089)
Accounts payable           20,811     8,409
Interest payable on junior subordinated debentures           1,019     0
Other accrued liabilities           31,183     2,712
Other items, net           (3,843)     1,065
Net cash (used for) provided by operating activities           11,712     41,525
Cash flows from investing activities:                  
Acquisition           0     0
Capital expenditures           (12,933)     (38,038)
Proceeds from sale of property and equipment           0     799
Net cash used for investing activities           (12,933)     (140,655)
Cash flows from financing activities:                  
Borrowings of senior term loans           0     76,800
Repayments of senior term loans           (992)     (3,776)
Discount on senior term loans           0     (3,152)
Borrowings of revolving credit loans           0     0
Repayments of revolving credit loans           0     0
Principal payments under capitalized lease obligations           (84)     (503)
Borrowings of senior notes           0     0
Repayment of senior notes           0     0
Purchase of Holdco stock from a former member of management           0     0
Proceeds from Holdco sale of stock           474     0
Proceeds from sale of successor equity securities           0     0
Capital contribution from board member           0     0
Financing fees           0     0
Borrowings under other credit obligations           0     324
Repayments of other credit obligations           0     (683)
Net cash provided by (used for) financing activities           (602)     69,010
Effect of exchange rate changes on cash           (116)     (459)
Net decrease in cash and cash equivalents           (1,939)     (30,579)
Cash and cash equivalents at beginning of period       $ 34,969   34,969   $ 34,969 65,548
Cash and cash equivalents at end of period           33,030     34,969
Predecessor | Paulin                  
Cash flows from investing activities:                  
Acquisition           $ 0     $ (103,416)