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Cash Flow

Cash Flow

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
2 Months Ended 7 Months Ended 9 Months Ended
Sep. 30, 2016
Jul. 19, 2016
Sep. 30, 2017
Cash flows from operating activities:      
Net income (loss) $ 1,813   $ (417)
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 2,789   7,383
Allowance for doubtful accounts 134   289
Stock based compensation expense 0   924
Capitalized deferred interest on subordinated debt 84   0
Amortization of debt issuance costs 52   135
Deferred tax provision (2,667)   (349)
Accretion of preferred stock discount to redemption value 0   19
(Gain) loss on disposition of property and equipment 21   130
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (42,855)   (5,712)
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts 10,831   2,280
(Increase) decrease in other current assets (251)   71
(Increase) decrease in other assets 94   1
Increase (decrease) in accounts payable 7,722   (704)
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts 12,857   (6,123)
Increase (decrease) in accrued expenses and other current liabilities (6,035)   (3,206)
Increase (decrease) in other long-term liabilities 28   (62)
Net cash provided by (used in) operating activities (15,383)   (5,341)
Cash flows from investing activities:      
Proceeds from sale of property and equipment 69   48
Advances to joint ventures (1)   (1)
Purchase of property and equipment (468)   (2,329)
Acquisition of Limbach Holdings LLC, net of cash acquired (32,158)   0
Proceeds from trust account 19,545   0
Net cash used in investing activities (13,013)   (2,282)
Cash flows from financing activities:      
Proceeds from revolving credit facility 16,567   0
Proceeds from term loan 24,000   0
Proceeds from subordinated debt 13,000   0
Payments on revolving credit facility (8,301)   0
Payments on Credit Agreement term loan 0   (4,115)
Proceeds from Credit Agreement revolver 0   74,762
Payments on Credit Agreement revolver 0   (62,547)
Payments on term loan (1,270)   (33)
Payments on subordinated debt facility (23,604)   0
Payments on financed insurance premium 0   (1,747)
Payments of distributions 0   0
Payments on capital leases (345)   (1,250)
Redemption of preferred stock 0   (4,092)
Proceeds from issuance of redeemable convertible preferred stock 9,948   0
Debt issuance costs (1,313)   0
Net cash provided by (used in) financing activities 28,682   978
Increase (decrease) in cash and cash equivalents 286   (6,645)
Cash and cash equivalents, beginning of period 238   0
Cash and cash equivalents, end of period 546 $ 238 761
Noncash investing and financing transactions:      
Property and equipment acquired financed with capital leases 467   1,344
Financed insurance premium 0   2,135
Interest paid 799   1,427
Predecessor [Member]      
Cash flows from operating activities:      
Net income (loss)   2,568  
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization   1,582  
Allowance for doubtful accounts   50  
Stock based compensation expense   1,349  
Capitalized deferred interest on subordinated debt   1,397  
Amortization of debt issuance costs   0  
Deferred tax provision   0  
Accretion of preferred stock discount to redemption value   0  
(Gain) loss on disposition of property and equipment   (1)  
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable   5,722  
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts   (18,698)  
(Increase) decrease in other current assets   (662)  
(Increase) decrease in other assets   (95)  
Increase (decrease) in accounts payable   (6,973)  
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts   4,276  
Increase (decrease) in accrued expenses and other current liabilities   10,847  
Increase (decrease) in other long-term liabilities   277  
Net cash provided by (used in) operating activities   1,639  
Cash flows from investing activities:      
Proceeds from sale of property and equipment   7  
Advances to joint ventures   0  
Purchase of property and equipment   (2,114)  
Acquisition of Limbach Holdings LLC, net of cash acquired   0  
Proceeds from trust account   0  
Net cash used in investing activities   (2,107)  
Cash flows from financing activities:      
Proceeds from revolving credit facility   60,122  
Proceeds from term loan   0  
Proceeds from subordinated debt   0  
Payments on revolving credit facility   (63,630)  
Payments on Credit Agreement term loan   0  
Proceeds from Credit Agreement revolver   0  
Payments on Credit Agreement revolver   0  
Payments on term loan   (1,038)  
Payments on subordinated debt facility   0  
Payments of distributions   (195)  
Payments on capital leases   (660)  
Redemption of preferred stock   0  
Proceeds from issuance of redeemable convertible preferred stock   0  
Debt issuance costs   0  
Net cash provided by (used in) financing activities   (5,401)  
Increase (decrease) in cash and cash equivalents   (5,869)  
Cash and cash equivalents, beginning of period 238 6,107  
Cash and cash equivalents, end of period   238  
Noncash investing and financing transactions:      
Property and equipment acquired financed with capital leases   1,014  
Financed insurance premium   0  
Interest paid   192  
Limbach Holdings, Inc [Member]      
Cash flows from financing activities:      
Cash and cash equivalents, beginning of period $ 22   $ 7,406
Cash and cash equivalents, end of period   22  
Limbach Holdings, Inc [Member] | Predecessor [Member]      
Cash flows from financing activities:      
Cash and cash equivalents, beginning of period   $ 0  

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