v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net income (loss) $ (8,525) $ 9,936
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of intangibles 19,122 17,520
Inventory valuation 7,963
Asset impairments 3,100
Income from loan forgiveness (9,860)
Non-cash compensation 2,546 2,283
Amortization of deferred financing fees 29 732
Bad debt expense (benefit) (187) 140
Changes in operating assets and liabilities, net of business acquisition:    
Accounts receivable 16,137 (35,072)
Inventories (13,290) (20,192)
Other assets (7,472) 8,011
Operating leases (3,799) (3,184)
Assets held-for-sale (2,874)
Liabilities held-for-sale 1,467
Accounts payable and accrued expenses (10,684) 8,482
Net cash provided by (used in) operating activities 1,840 (19,511)
Investing Activities:    
Proceeds from principal payments on notes receivable 14,766
Proceeds from asset sales 19,500
Additions to property and equipment (25,233) (12,240)
Purchase of Eagle Alcohol, net of cash acquired (14,685)
Net cash provided by (used in) investing activities (25,152) 7,260
Financing Activities:    
Net proceeds from (payments on) Kinergy’s line of credit (4,452) 38,198
Stock repurchases (1,002)  
Proceeds from stock option exercises 462
Principal payments on borrowings (37,810)
Preferred stock dividends paid (946)
Net cash provided by (used in) financing activities (6,400) 850
Net change in cash, cash equivalents and restricted cash (29,712) (11,401)
Cash, cash equivalents and restricted cash at beginning of period 62,125 48,187
Cash, cash equivalents and restricted cash at end of period 32,413 36,786
Reconciliation of total cash, cash equivalents and restricted cash:    
Cash and cash equivalents 28,458 36,029
Restricted cash 3,955 757
Total cash, cash equivalents and restricted cash 32,413 36,786
Supplemental Information:    
Interest paid 961 3,194
Accrued preferred stock dividends $ 946

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