Who is Williams Industrial

Cash Flow

v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income (loss) $ 1,988 $ (24,958)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Net (income) loss from discontinued operations (670) 13,856
Deferred income tax provision (benefit) (68) 608
Depreciation and amortization on plant, property and equipment 225 633
Amortization of deferred financing costs 462 1,475
Loss on disposals of property, plant and equipment   210
Bad debt expense 53 (90)
Stock-based compensation 1,114 697
Paid-in-kind interest   1,964
Restructuring charges   3,661
Changes in operating assets and liabilities, net of businesses sold:    
Accounts receivable (7,843) (2,860)
Contract assets (4,159) 2,336
Other current assets (1,918) 2,453
Other assets 1,404 (1,400)
Accounts payable 8,016 2,021
Accrued and other liabilities (2,705) 3,643
Contract liabilities 2,039 (4,261)
Net cash provided by (used in) operating activities, continuing operations (2,062) (12)
Net cash provided by (used in) operating activities, discontinued operations (350) (6,685)
Net cash provided by (used in) operating activities (2,412) (6,697)
Investing activities:    
Purchase of property, plant and equipment (178) (123)
Net cash provided by (used in) investing activities, continuing operations (178) (123)
Net cash provided by (used in) investing activities, discontinued operations   319
Net cash provided by (used in) investing activities (178) 196
Financing activities:    
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation (154) (351)
Debt issuance costs   (1,520)
Proceeds from short-term borrowings 163,040  
Repayments of short-term borrowings (162,416)  
Proceeds from long-term debt   33,679
Repayments of long-term debt (350) (31,154)
Net cash provided by (used in) financing activities, continuing operations 120 654
Net cash provided by (used in) financing activities 120 654
Net change in cash, cash equivalents and restricted cash (2,470) (5,847)
Cash, cash equivalents and restricted cash, beginning of period 4,942 16,156
Cash, cash equivalents and restricted cash, end of period 2,472 10,309
Supplemental Disclosures:    
Cash paid for interest $ 3,527 3,555
Cash paid for income taxes, net of refunds   16
Noncash amendment fee related to term loan   $ 4,000

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