Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (65,102) $ (202,324) $ 17,479
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization, including amounts in cost of goods sold 26,588 26,492 8,411
Share-based compensation 8,092 23,073 14,506
Fair value changes in derivatives (9,589) (91,887) (105,170)
Non-cash interest expense, including amortization of deferred financing costs 6,498 19,437 17,055
Deferred income taxes and uncertain tax positions 25,874 (17,455) 21,713
Loss on debt modification/extinguishment/redemption 0 18,858 3,815
Asset impairments 8,574 159,645 6,344
Inventory charge 6,189 9,418 0
Other non-cash items, net 1,018 2,061 (1,297)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (2,366) (1,594) (1,872)
Accounts payable, accrued expenses and other current liabilities (4,811) 24,106 21,558
Inventory (4,687) 5,396 (12,945)
Prepaid expenses and other current assets 404 1,627 (7,502)
Other assets 0 1,731 3,601
Net cash flows used in operating activities (3,318) (21,416) (14,304)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Payments for property, plant and equipment (10,743) (56,881) (75,296)
Payments for acquisitions, net of cash acquired 0 (20,978) (47,308)
Proceeds from sale of property, plant and equipment 4,351 0 0
Payments for settlement of contingent consideration liability 0 (3,000) 0
Proceeds from investments and financial asset 0 0 9,149
Net cash flows used in investing activities (6,392) (80,859) (113,455)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of shares, net 0 13,680 85,660
Proceeds from exercise of warrants and options 0 1,203 17,128
Proceeds from acquisition facility 0 25,000 40,000
Proceeds from issuance of second lien notes and related warrants 0 31,594 0
Redemptions of senior notes (including related party redemptions of $0, $8 and $3,072 for the year ended December 31, 2023, 2022 and 2021, respectively) 0 (33,726) (8,134)
Payments of acquisition promissory notes 0 0 (1,620)
Proceeds from mortgage loans 21,900 0 0
Payments on acquisition related credit facility (4,875) 0 0
Payments of finance leases, net of tenant allowance of $0, $10,633 and $19,046 for the year ended December 31, 2023, 2022 and 2021, respectively (3,526) (8,775) (1,163)
Proceeds from other debt 0 2,800 7,910
Repayments of mortgage loans (211) (148) 0
Payments of loan financing costs (250) (2,437) (1,701)
Proceeds from other financing activities 3,862 6,030 0
Payments of other financing activities, net (3,031) (1,238) (417)
Net cash flows provided by financing activities 13,869 33,983 137,663
Effect of currency translation on cash and cash equivalents 0 (49) (274)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 4,159 (68,341) 9,630
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 27,146 95,487 85,857
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR 31,305 27,146 95,487
SUPPLEMENTAL CASH FLOW INFORMATION:      
Cash paid for interest (excluding capitalized interest) 29,363 27,706 13,798
Cash paid for income taxes, net of refunds received 2,780 11,668 7,066
NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Capital expenditures 1,475 7,921 17,599
Right of use assets from finance lease liabilities (excluding from acquisitions), net of tenant allowance receivable of $0, $0 and $7,357 for the years ended December 31, 2023, 2022 and 2021, respectively 681 4,811 51,200
Issuance of second lien notes for settlement of accrued bonus 1,900 0 0
Debt and equity issued for services received $ 0 $ 702 $ 0