Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.23.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Oct. 31, 2021
Net income $ 31,790 $ 28,676  
Adjustments to reconcile net income to net cash provided by operating activities:      
Non-cash operating lease expense 5,506 3,913  
Foreign currency adjustments (566) 2,091  
Depreciation 39,756 34,934  
Deferred income taxes 6,137 5,205  
Amortization of deferred financing costs 1,859 1,852  
Amortization of intangible assets 18,910 22,528  
Stock-based compensation expense 3,847 5,034  
Change in fair value of warrant liabilities (6,899) (9,894)  
Net gain on the sale of property, plant and equipment (2,247) (2,759)  
Provision for bad debt 18 0  
Net changes in operating assets and liabilities:      
Trade receivables 328 (15,310)  
Inventory (1,142) (870)  
Prepaid expenses and other assets 1,338 (550)  
Income taxes payable, net 2,168 (324)  
Accounts payable (464) (3,039)  
Accrued payroll, accrued expenses and other liabilities (3,464) 5,208  
Net cash provided by operating activities 96,875 76,695  
Cash flows from investing activities:      
Purchases of property, plant and equipment (54,505) (101,932)  
Proceeds from sale of property, plant and equipment 11,147 10,023  
Purchases of intangible assets (800) (1,450)  
Acquisition of net assets - Coastal acquisition 0 (30,762)  
Net cash used in investing activities (44,158) (124,121)  
Cash flows from financing activities:      
Proceeds on revolving loan 317,989 377,375  
Payments on revolving loan (351,167) (326,945)  
Payment of debt issuance costs (550) (290)  
Purchase of treasury stock (10,505) (4,148)  
Other financing activities (63) (14)  
Net cash provided by (used in) financing activities (44,296) 45,978  
Effect of foreign currency exchange rate changes on cash (42) (368)  
Net increase (decrease) in cash and cash equivalents 8,379 (1,816)  
Cash and cash equivalents:      
Beginning of period 7,482 9,298  
End of period 15,861 7,482 $ 9,298
Supplemental cash flow information:      
Cash paid for interest 26,498 23,682  
Cash paid for income taxes 673 408  
Non-cash investing and financing activities:      
Operating lease right-of-use assets recorded upon adoption of ASC 842 0 18,625  
Operating lease liabilities recorded upon adoption of ASC 842 0 18,593  
Operating lease assets obtained in exchange for new operating lease liabilities 6,669 10,089  
PP&E acquired but not yet paid - beginning of period $ 9,484 $ 8,882 $ 7,135