Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v3.22.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES:    
Net loss $ (19.0) $ (40.7)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Accrual of in-kind interest on notes payable to related parties 0.0 31.5
Depreciation and amortization expense 44.9 23.6
Stock-based compensation expense 7.9 (0.1)
Amortization of debt issuance costs 1.0 0.9
Provision for doubtful accounts (0.2) 0.4
Inventory obsolescence write down 0.2 0.3
Change in deferred income taxes (10.4) (0.7)
Loss (gain) on disposal of property, plant and equipment (0.7) (0.3)
Loss (gain) on foreign currency transactions 1.5 (4.0)
Change in fair values of warrant liabilities (19.9) 0.0
Other 0.1 1.7
Changes in operating assets and liabilities:    
Accounts receivable 17.6 (5.5)
Costs in excess of billings on uncompleted contracts (5.2) (5.3)
Inventories (0.9) 2.0
Prepaid expenses and other current assets 1.7 (6.5)
Accounts payable (6.8) 15.7
Accrued expenses and other current liabilities (0.9) (13.8)
Deferred contract revenue (0.3) 5.1
Other assets 0.0 (0.5)
Other liabilities 0.8 7.1
Net cash provided by operating activities 11.4 10.9
INVESTING ACTIVITIES:    
Acquisitions of businesses, net of cash and cash equivalents acquired 0.0 (15.0)
Purchases of property, plant, and equipment and badges (8.7) (8.0)
Sales of property, plant, and equipment 0.8 0.0
Net cash used in investing activities (7.9) (23.0)
FINANCING ACTIVITIES:    
Principal repayments (0.4) (7.5)
Other financing (0.2) 0.2
Net cash used in financing activities (0.6) (7.3)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1.0) (1.6)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1.9 (21.0)
Cash, cash equivalents, and restricted cash at beginning of period 85.3 108.7
Cash, cash equivalents, and restricted cash at end of period $ 87.2 $ 87.7