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
Dec. 31, 2018
Cash flows from operating activities:      
Net loss $ (27,375) $ (49,394) $ (20,378)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and lease asset amortization 8,617 9,564 10,350
Other amortization, net 63 50 80
Bad debt expense   59 30
Asset impairments 3,310 17,223 4,445
(Gain) loss on assets held for sale, net 228 (369) (7,724)
Gain on insurance recoveries     (3,571)
(Gain) loss on sale of fixed assets and other assets, net (2) (584) 268
Stock-based compensation expense 1,126 1,774 2,795
Changes in operating assets and liabilities:      
Contract receivables and retainage, net 10,702 (3,650) 2,962
Contract assets (15,393) (22,145) (26,932)
Prepaid expenses, inventory and other current assets 1,644 2,556 (3,162)
Accounts payable 10,042 30,950 10,515
Contract liabilities (11,142) 9,425 12,371
Accrued expenses and other current liabilities (2,427) (1,099) (3,352)
Noncurrent assets and liabilities, net (including long-term retainage) 1,599 (1,500) 911
Net cash used in operating activities (19,008) (7,140) (20,392)
Cash flows from investing activities:      
Capital expenditures (11,212) (3,790) (3,481)
Proceeds from sale of property, plant and equipment 2,020 2,217 85,247
Purchases of short-term investments (58,751) (65,284) (9,610)
Maturities of short-term investments 70,552 54,086 1,200
Recoveries from insurance claims     9,362
Net cash provided by (used in) investing activities 2,609 (12,771) 82,718
Cash flows from financing activities:      
Proceeds from borrowings 10,000   15,000
Repayment of borrowings     (15,000)
Payment of financing cost (71) (48) (42)
Tax payments for vested stock withholdings (74) (795) (810)
Net cash provided by (used in) financing activities 9,855 (843) (852)
Net increase (decrease) in cash and cash equivalents (6,544) (20,754) 61,474
Cash and cash equivalents, beginning of period 49,703 70,457 8,983
Cash and cash equivalents, end of period 43,159 49,703 70,457
Supplemental cash flow information:      
Interest paid 376 470 352
Income taxes paid (refunds received), net (971) 63 6
Reclassification of property, plant and equipment to assets held for sale 2,115 294  
Reclassification of assets held for sale to property, plant and equipment   1,162 866
Accounts payable included in capital expenditures $ 153 $ 1,623  
Reclassification of accrued expenses to assets held for sale     $ 3,245