Who is Williams Industrial

Cash Flow

v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities:    
Net income (loss) $ 2,186 $ (25,435)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Net (income) loss from discontinued operations (1,164) 11,645
Deferred income tax provision (benefit) (484) (7,239)
Depreciation and amortization on plant, property and equipment 301 857
Amortization of deferred financing costs 615 1,623
Loss on disposals of property, plant and equipment   637
Bad debt expense 237 (90)
Stock-based compensation 1,698 1,179
Paid-in-kind interest   1,964
Restructuring charges   5,689
Changes in operating assets and liabilities, net of businesses acquired and sold:    
Accounts receivable (15,675) 3,426
Contract assets 1,001 3,269
Other current assets (743) 2,271
Other assets 1,613 (1,038)
Accounts payable 13,697 (2,127)
Accrued and other liabilities (6,704) (1,157)
Contract liabilities (579) (3,771)
Net cash provided by (used in) operating activities, continuing operations (4,001) (8,297)
Net cash provided by (used in) operating activities, discontinued operations 162 (6,125)
Net cash provided by (used in) operating activities (3,839) (14,422)
Investing activities:    
Purchase of property, plant and equipment (242) (137)
Net cash provided by (used in) investing activities, continuing operations (242) (137)
Net cash provided by (used in) investing activities, discontinued operations   319
Net cash provided by (used in) investing activities (242) 182
Financing activities:    
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation (154) (497)
Debt issuance costs   (2,189)
Proceeds from short-term borrowings 223,958 46,688
Repayments of short-term borrowings (216,383) (43,414)
Proceeds from long-term debt   33,679
Repayments of long-term debt (525) (31,241)
Net cash provided by (used in) financing activities, continuing operations 6,896 3,026
Net cash provided by (used in) financing activities 6,896 3,026
Effect of exchange rate change on cash, continuing operations 61  
Effect of exchange rate change on cash 61  
Net change in cash, cash equivalents and restricted cash 2,876 (11,214)
Cash, cash equivalents and restricted cash, beginning of year 4,942 16,156
Cash, cash equivalents and restricted cash, end of year 7,818 4,942
Supplemental Disclosures:    
Cash paid for interest 4,697 5,652
Cash paid for income taxes, net of refunds   16
Term Loan Facility    
Supplemental Disclosures:    
Noncash amendment fee   $ 4,000
Midcap Financial Trust    
Supplemental Disclosures:    
Noncash amendment fee $ 100  

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