Current report filing

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 4 Months Ended 5 Months Ended 7 Months Ended 8 Months Ended 12 Months Ended
Apr. 30, 2020
Jun. 11, 2021
Jan. 31, 2021
Aug. 27, 2020
Jan. 31, 2022
Jan. 31, 2022
Jan. 31, 2021
Jan. 31, 2020
Jun. 12, 2021
Cash flows from operating activities:                  
Net (loss) income   $ (49,264) $ (93,722) $ 2,764,012 $ (46,806)     $ (849,205)  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:                  
Share-based compensation         14,664     83  
Depreciation and amortization   3,572 3,604 5,864 6,556     9,716  
Amortization of intangible assets   50,902 39,824 34,378 95,922     96,359  
Change in bad debt reserve   (174) 294 24 274     (42)  
(Benefit from) provision for income taxes - non-cash   (5,886) (23,140) 66,234 (12,782)     5,759  
Non-cash interest expense   487 671 2,407 817     5,687  
Impairment of goodwill and intangible assets       332,376       440,598  
Fair value adjustment to warrants   (900) (2,900)   (17,441)        
Right-of-use asset   748 2,690 1,594 3,807        
Impairment of note receivable from related parties               5,367  
Unrealized loss on derivative instruments               4,062  
Non-cash reorganization items, net       (3,353,326)          
Changes in current assets and liabilities, net of effects from acquisitions:                  
Accounts receivable   88,622 (103,385) 116,478 (86,583)     23,678  
Prepaid expenses and other current assets   1,828 (6,394) 66 (19,732)     (2,547)  
Accounts payable   (4,866) (31) (7,909) 1,983     (6,581)  
Accrued expenses, including long-term   (18,592) 21,327 145,816 31,081     250,798  
Lease liability   (1,301) (3,272) (2,332) (5,023)        
Deferred revenue   (31,365) 172,614 (101,765) 61,487     (21,145)  
Net cash (used in) provided by operating activities   33,811 8,180 3,917 28,224     (37,413)  
Cash flows from investing activities:                  
Purchase of property and equipment   (641) (2,326) (3,105) (6,286)     (10,353)  
Internally developed software - capitalized costs   (2,350) (2,126) (3,819) (3,712)     (7,047)  
Acquisition of Global Knowledge, net of cash received         (156,926)        
Acquisition of Skillsoft, net of cash received         (386,035)        
Acquisition of Pluma, net of cash received         (18,646)        
Net cash used in investing activities   (2,991) (4,452) (6,924) (571,605)     (17,400)  
Cash flows from financing activities:                  
Borrowings under revolving line of credit, net of repayments       19,500       55,400  
Borrowings under DIP Facility       60,000          
Proceeds from Exit Facility borrowing       50,000          
Debt issuance costs associated with DIP and Exit Facilities       (19,524)          
Shares repurchased for tax withholding upon vesting of restricted stock-based awarded         (1,417)        
Proceeds from equity investment (PIPE)         530,000        
Proceeds from issuance of term loans, net of fees         464,290        
Principal payments on capital lease obligation   (370) (414) (532) (994)     (756)  
Proceeds from accounts receivable facility, net of borrowings     (32,049) (35,787)          
Proceeds from accounts receivable facility, net of borrowings   16,577     40,352     9,798  
Principal payments on Term loans         (1,200)        
Repayments of First and Second Out loans   (1,300)     (605,591)     (6,641)  
Net cash provided by (used in) financing activities   14,907 (32,463) 73,657 425,440     57,801  
Effect of exchange rate changes on cash and cash equivalents   203 863 (2,139) (1,619)     348  
Net (decrease) increase in cash, cash equivalents and restricted cash   45,930 (27,872) 68,511 (119,560)     3,336  
Cash, cash equivalents and restricted cash, beginning of period $ 33,804 74,443 102,315 33,804 120,373 $ 74,443 $ 33,804 30,468  
Cash, cash equivalents and restricted cash, end of period   120,373 74,443 102,315 168,923 168,923 74,443 33,804  
Supplemental disclosure of cash flow information:                  
Cash and cash equivalents   117,299 71,479 92,009 154,672 154,672 71,479 18,799  
Restricted cash   3,074 2,964 10,306 14,251 14,251 2,964 15,005  
Cash, cash equivalents and restricted cash, end of period   120,373 74,443 102,315 168,923 $ 168,923 $ 74,443 33,804 $ 288,483
Supplemental disclosure of cash flow information and non-cash investing and financing activities:                  
Cash paid for interest   16,439 18,908   12,967     175,748  
Cash paid for income taxes, net of refunds   1,161 2,336 913 1,568     (2,069)  
Unpaid capital expenditures   $ 39 166 1,039 153     $ 170  
Note issued to parent entity for paid in kind interest       160,000          
Lease liabilities arising from right-of-use assets and tenant improvements recognized upon adoption of new accounting standard       $ 19,415          
Share issued in connection with business combinations         306,375        
PIPE subscription liability and warrants reclassified to equity         134,286        
Debt issued in connection with business combinations         90,000        
Modification of warrants and Class B common stock     $ 7,400            
Warrants issued in connection with business combinations         $ 14,000        
Financial Designation, Predecessor and Successor [Fixed List] Predecessor Predecessor Predecessor Predecessor Successor Successor Predecessor Predecessor