Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2022
Sep. 25, 2021
Cash Flows Provided By Operating Activities    
Net income $ 74,940 $ 28,566
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation of property and equipment 5,817 4,678
Reduction in carrying amount of right-of-use assets 3,997 0
Amortization of intangibles 22,278 21,852
Deferred finance fee amortization 2,758 2,286
Provision (reversal) for losses on accounts receivable 1,206 (59)
Share based compensation 2,145 5,262
Loss on extinguishment of debt 0 2,415
Change in fair value of contingent consideration 0 687
(Gain) loss on sale of assets (45) 43
Loss on abandonment of lease 571 0
Change in fair value of derivative warrant liabilities 0 658
Undistributed (earnings) losses of affiliate (102) 76
Deferred income taxes, net 0 (768)
Changes in operating assets and liabilities    
Accounts receivable (45,893) (16,884)
Costs and estimated earnings in excess of billings and billings in excess of costs and estimated earnings on uncompleted contracts (7,710) (12,101)
Prepaid expenses and other current assets (531) (4,488)
Inventory, net (12,454) (18,474)
Accounts payable 766 18,409
Other accrued expenses 17,658 28,649
Other assets and long-term liabilities (2,810) (1,124)
Net Cash Provided By Operating Activities 62,591 59,683
Cash Flows Used In Investing Activities    
Proceeds from sale of equipment 67 79
Purchases of property and equipment (7,856) (15,930)
Cash paid for acquisition, net of cash acquired 0 (179,714)
Net Cash Used In Investing Activities (7,789) (195,565)
Cash Flows Used In Financing Activities    
(Repayments) proceeds from line of credit (6,369)  
(Repayments) proceeds from line of credit   19,351
Distributions to Janus Midco LLC unitholders 0 (4,174)
Principal payments on long-term debt (6,051) (64,825)
Proceeds from long-term debt 0 155,000
Proceeds from merger 0 334,874
Proceeds from PIPE 0 250,000
Payments for transaction costs, net 0 (44,489)
Payments to Janus Midco, LLC unitholders at the Business Combination 0 (541,710)
Proceeds from warrant exercise 0 1
Principal payments under finance lease obligations (137) 0
Payments for deferred financing fees 0 (4,321)
Cash (Used In) Provided by Financing Activities (12,557) 99,707
Effect of exchange rate changes on cash and cash equivalents (102) 142
Net Increase (Decrease) in Cash and Cash Equivalents 42,143 (36,033)
Cash and Cash Equivalents, Beginning of Period 13,192 45,255
Cash and Cash Equivalents, End of Period 55,335 9,222
Supplemental Cash Flows Information    
Interest paid 28,351 19,227
Income taxes paid 21,655 1,510
Cash paid for operating leases 5,763 0
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for operating lease obligations 47,999 0
Right-of-use assets obtained in exchange for finance lease obligations $ 1,373 $ 0