Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Cash flows from operating activities:    
Net loss $ (13,980,000) $ (54,764,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 64,460,000 61,920,000
Deferred income taxes (10,632,000) 1,326,000
Deferred financing and original issue discount amortization 1,879,000 1,859,000
Stock-based compensation expense 2,669,000 662,000
Asset impairment 210,000 6,800,000
Gain on disposal of property and equipment (337,000) (121,000)
Change in fair value of contingent consideration (1,300,000) 0
Other non-cash interest and change in value of interest rate swap 1,942,000 2,902,000
Changes in operating items:    
Accounts receivable (61,318,000) (13,394,000)
Inventories 592,000 (2,000,000)
Other assets 1,307,000 9,485,000
Accounts payable 4,475,000 7,540,000
Other accrued liabilities 12,306,000 7,764,000
Accrued interest 9,384,000 (5,206,000)
Net cash provided by operating activities 11,657,000 24,773,000
Cash flows from investing activities:    
Payments to Acquire Businesses, Net of Cash Acquired 800,000 0
Capital expenditures (22,196,000) (27,771,000)
Proceeds from sale of property and equipment 0 7,612,000
Net cash used in investing activities (22,996,000) (20,159,000)
Cash flows from financing activities:    
Repayments of senior term loans (5,304,000) (7,956,000)
Borrowings on revolving credit loans 66,000,000 12,500,000
Repayments of revolving credit loans (50,000,000) (20,200,000)
Principal payments under finance and capitalized lease obligations (411,000) (283,000)
Net cash provided by (used in) financing activities 10,285,000 (15,939,000)
Effect of exchange rate changes on cash (315,000) 44,000
Net decrease in cash and cash equivalents (1,369,000) (11,281,000)
Cash and cash equivalents at beginning of period 19,973,000 28,234,000
Cash and cash equivalents at end of period 18,604,000 16,953,000
Supplemental disclosure of cash flow information:    
Interest paid 33,922,000 54,072,000
Income Taxes Paid, Net 100,000 400,000
11.6% Junior Subordinated Debentures - Preferred    
Supplemental disclosure of cash flow information:    
Interest paid $ 4,076,000 $ 6,115,000