Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:    
Consolidated net loss $ (17,282) $ (101,282)
Adjustments to reconcile consolidated net loss to cash provided by (used in) operating activities:    
Depreciation and amortization of intangibles 30,268 47,909
Asset impairments 24,356 29,292
Fair value adjustments 9,959
Gain on sale of assets (1,580)
Loss on debt extinguishment 6,517
Inventory valuation (257)
Gain on derivative instruments (14,780) (555)
Amortization of deferred financing costs 1,394 511
Amortization of debt discounts (premiums) (230) 689
Noncash compensation 2,679 2,809
Bad debt expense 245 27
Interest expense added to senior notes 133 1,185
Changes in operating assets and liabilities:    
Accounts receivable 30,571 (6,698)
Inventories 19,090 (2,780)
Prepaid expenses and other assets 965 10,197
Prepaid inventory 637 1,562
Operating leases (4,751) (10,161)
Assets held-for-sale 1,012
Liabilities held-for-sale 9,110
Accounts payable and accrued expenses (19,763) (2,585)
Net cash provided by (used in) operating activities 71,776 (23,363)
Investing Activities:    
Proceeds from sale of interests in PAL 19,896
Proceeds from Magic Valley asset sale 10,000
Additions to property and equipment (6,580) (3,281)
Net cash provided by (used in) investing activities 23,316 (3,281)
Financing Activities:    
Proceeds from issuances of common stock and warrants 75,829 3,670
Proceeds from warrant exercises 5,500
Proceeds from CARES Act loans 9,860
Net proceeds (payments) on Kinergy’s line of credit (45,826) 21,282
Payments on plant borrowings (71,536) (8,000)
Payments on senior notes (40,249) (3,748)
Preferred stock dividend payments (946)
Proceeds from CoGen contract amendment 8,036
Debt issuance costs (1,280)
Net cash provided by (used in) financing activities (66,422) 19,014
Net increase (decrease) in cash and cash equivalents 28,670 (7,630)
Cash and cash equivalents at beginning of period 18,997 26,627
Cash and cash equivalents at end of period 47,667 18,997
Supplemental Information:    
Interest paid 17,469 18,763
Income tax refunds 641
Noncash financing and investing activities:    
Initial right of use assets and liabilities recorded under ASC 842 43,753
Issuance of common stock for senior note amendment 3,817
Issuance of warrants for senior note amendment 977
Accrued preferred stock dividends $ 1,268 $ 319