v3.19.3.a.u2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities    
Net income $ 14,904 $ 16,420
Adjustment to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 21,079 23,026
Amortization of deferred debt issuance costs 1,574 1,047
Amortization of inventory step-up 0 171
Stock compensation expense 3,670 3,130
Deferred income taxes (3,416) (1,411)
Release of reserve for uncertain tax positions (421) 0
Long term cross currency swap 1,897 (5,564)
Remeasurement loss/(gain) on intercompany balances (2,264) 6,075
Changes in operating assets and liabilities:    
Accounts receivable 9,747 (10,326)
Inventories 1,957 (8,314)
Contract assets 8,167 (7,354)
Other current and non-current assets (4,422) (6,329)
Accounts payable 503 2,995
Accrued liabilities and non-current liabilities (4,441) (941)
Income taxes payable and receivable 3,821 (2,779)
Net cash provided by operating activities 52,355 9,846
Investing activities    
Purchases of property, plant and equipment (6,701) (8,808)
Sale of rental equipment 371 678
Proceeds from sale of property, plant and equipment 242 23
Proceeds from the sale of investments 0 955
Net cash used in investing activities (6,088) (7,152)
Financing activities    
Proceeds from revolving credit facility 10,000 22,009
Payments on long term debt and revolving credit facility (46,279) (20,307)
Purchase of shares from non-controlling interests (4,508) (5,665)
Proceeds from exercise of stock options 860 233
Repurchase of employee stock units on vesting (890) (572)
Payments on finance leases (106) (170)
Net cash used in financing activities (40,923) (4,472)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 503 (1,923)
Cash, cash equivalents and restricted cash at beginning of period 33,841 36,327
Cash, cash equivalents and restricted cash at end of period 39,688 32,626
Change in cash, cash equivalents and restricted cash $ 5,847 $ (3,701)

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