Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 02, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Primo Water Corp | |
Entity Central Index Key | 1,365,101 | |
Trading Symbol | prmw | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding (in shares) | 38,535,113 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 5,630 | $ 5,586 |
Accounts receivable, net | 23,503 | 18,015 |
Inventories | 9,602 | 6,178 |
Prepaid expenses and other current assets | 4,477 | 3,409 |
Total current assets | 43,212 | 33,188 |
Bottles, net | 4,611 | 4,877 |
Property and equipment, net | 92,607 | 100,692 |
Intangible assets, net | 80,028 | 144,555 |
Goodwill | 92,069 | 92,934 |
Investment in Glacier securities ($0 and $3,881 available-for-sale, at fair value at September 30, 2018 and December 31, 2017, respectively) | 6,510 | |
Other assets | 667 | 997 |
Assets held-for-sale at fair value | 5,288 | |
Total assets | 318,482 | 383,753 |
Current liabilities: | ||
Accounts payable | 27,290 | 18,698 |
Accrued expenses and other current liabilities | 7,663 | 9,878 |
Current portion of long-term debt and capital leases | 11,088 | 3,473 |
Total current liabilities | 46,041 | 32,049 |
Long-term debt and capital leases, net of current portion and debt issuance costs | 178,196 | 269,793 |
Deferred tax liability, net | 8,455 | |
Other long-term liabilities | 806 | 1,985 |
Liabilities held-for-sale at fair value | 1,438 | |
Total liabilities | 226,481 | 312,282 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value - 10,000 shares authorized, none issued and outstanding | ||
Common stock, $0.001 par value - 70,000 shares authorized, 38,527 and 30,084 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively | 39 | 30 |
Additional paid-in capital | 423,402 | 345,963 |
Accumulated deficit | (330,329) | (273,752) |
Accumulated other comprehensive loss | (1,111) | (770) |
Total stockholders’ equity | 92,001 | 71,471 |
Total liabilities and stockholders’ equity | $ 318,482 | $ 383,753 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Available-for-sale, at fair value | $ 0 | $ 3,881 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized (in shares) | 10,000 | 10,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 70,000 | 70,000 |
Common stock, issued (in shares) | 38,527 | 30,084 |
Common stock, outstanding (in shares) | 38,527 | 30,084 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net sales | $ 81,770 | $ 82,207 | $ 231,231 | $ 217,762 |
Operating costs and expenses: | ||||
Cost of sales | 58,312 | 57,273 | 164,462 | 154,166 |
Selling, general and administrative expenses | 7,369 | 7,939 | 26,169 | 26,703 |
Non-recurring and acquisition-related costs | 139 | 158 | 626 | 7,583 |
Depreciation and amortization | 6,194 | 6,358 | 18,365 | 19,571 |
Impairment charges and other | 67,940 | (72) | 68,184 | (90) |
Total operating costs and expenses | 139,954 | 71,656 | 277,806 | 207,933 |
(Loss) income from operations | (58,184) | 10,551 | (46,575) | 9,829 |
Interest expense, net | 2,465 | 5,153 | 18,909 | 15,177 |
Change in fair value of warrant liability | 3,220 | |||
(Loss) income before income taxes | (60,649) | 5,398 | (65,484) | (8,568) |
Income tax (benefit) provision | (2,411) | 451 | (8,907) | 823 |
Net (loss) income | $ (58,238) | $ 4,947 | $ (56,577) | $ (9,391) |
(Loss) earnings per common share: | ||||
Basic (in dollars per share) | $ (1.45) | $ 0.15 | $ (1.55) | $ (0.28) |
Diluted (in dollars per share) | $ (1.45) | $ 0.14 | $ (1.55) | $ (0.28) |
Weighted average shares used in computing (loss) earnings per share: | ||||
Basic (in shares) | 40,072 | 33,525 | 36,410 | 33,086 |
Diluted (in shares) | 40,072 | 34,653 | 36,410 | 33,086 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net loss | $ (58,238) | $ 4,947 | $ (56,577) | $ (9,391) |
Other comprehensive income (loss): | ||||
Reclassification of gain recognized in net income on redemption of Glacier securities | (86) | |||
Unrealized gain on investment in Glacier securities | 38 | 14 | 59 | |
Foreign currency translation adjustments, net | 160 | 386 | (269) | 723 |
Total other comprehensive income (loss) | 160 | 424 | (341) | 782 |
Comprehensive (loss) income | $ (58,078) | $ 5,371 | $ (56,918) | $ (8,609) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 30,084 | ||||
Balance at Dec. 31, 2017 | $ 30 | $ 345,963 | $ (273,752) | $ (770) | $ 71,471 |
Employee stock compensation plans, net (in shares) | 1,521 | ||||
Employee stock compensation plans, net | $ 2 | (5,324) | $ (5,322) | ||
Exercise of common stock warrants (in shares) | 1,583 | 1,136 | |||
Exercise of common stock warrants | $ 2 | 12,148 | $ 12,150 | ||
Proceeds from equity offering, net of costs (in shares) | 5,339 | ||||
Proceeds from equity offering, net of costs | $ 5 | 70,786 | 70,791 | ||
Reclassification of equity issuance costs previously capitalized | (171) | (171) | |||
Net loss | (56,577) | (56,577) | |||
Other comprehensive income (loss) | (341) | (341) | |||
Balance (in shares) at Sep. 30, 2018 | 38,527 | ||||
Balance at Sep. 30, 2018 | $ 39 | $ 423,402 | $ (330,329) | $ (1,111) | $ 92,001 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (56,577) | $ (9,391) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 18,365 | 19,571 |
Impairment charges and other | 68,184 | (90) |
Stock-based compensation expense | 2,710 | 4,611 |
Non-cash interest expense (income) | 2,547 | (51) |
Change in fair value of warrant liability | 3,220 | |
Bad debt expense | 170 | 180 |
Deferred income tax (benefit) expense | (8,907) | 823 |
Realized foreign currency exchange loss and other, net | 338 | (11) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (5,724) | (8,480) |
Inventories | (3,431) | (351) |
Prepaid expenses and other current assets | (618) | (956) |
Accounts payable | 6,523 | 7,611 |
Accrued expenses and other current liabilities | (796) | (6,036) |
Net cash provided by operating activities | 22,784 | 10,650 |
Cash flows from investing activities: | ||
Purchases of property and equipment | (14,200) | (13,434) |
Purchases of bottles, net of disposals | (1,596) | (2,120) |
Proceeds from the sale of property and equipment | 227 | 167 |
Proceeds from redemption of investment in Glacier securities | 6,277 | |
Additions to intangible assets and other | (975) | (113) |
Net cash used in investing activities | (10,267) | (15,500) |
Cash flows from financing activities: | ||
Borrowings under Term loan | 190,000 | |
Payments under Term loan | (2,375) | |
Payments under prior Term loan | (184,140) | (1,395) |
Payments upon redemption of Junior Subordinated Debentures | (87,629) | |
Proceeds from common stock issuance, net of costs | 70,791 | |
Proceeds from warrant exercises, net | 12,150 | |
Capital lease payments | (1,190) | (1,712) |
Bank overdraft | 1,023 | |
Stock option and employee stock purchase activity and other, net | (9,424) | (3,088) |
Debt issuance costs and other | (1,671) | (261) |
Net cash used in financing activities | (12,465) | (6,456) |
Effect of exchange rate changes on cash and cash equivalents | (8) | (30) |
Net increase (decrease) in cash and cash equivalents | 44 | (11,336) |
Cash and cash equivalents, beginning of year | 5,586 | 15,586 |
Cash and cash equivalents, end of period | 5,630 | 4,250 |
Revolving Credit Facility [Member] | ||
Cash flows from financing activities: | ||
Borrowings under Revolving Credit Facility | 15,000 | |
Payments under Revolving Credit Facility | (15,000) | |
Prior Revolving Credit Facility [Member] | ||
Cash flows from financing activities: | ||
Borrowings under Revolving Credit Facility | 14,000 | 2,500 |
Payments under Revolving Credit Facility | $ (14,000) | $ (2,500) |
Note 1 - Description of Busines
Note 1 - Description of Business and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Description of Business and Significant Accounting Policies Business Primo Water Corporation (together with its consolidated subsidiaries, “Primo,” “we,” “our,” or “us”) is North America’s leading single source provider of multi-gallon purified bottled water, self-service refill drinking water and water dispensers sold through major retailers in the United States and Canada. Follow-on Equity Offering On May 22, 2018, 5,339 $14.00 696 $70,791, $4,132. 4 Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements and notes have been prepared in accordance with our accounting practices described in our audited consolidated financial statements as of and for the year ended December 31, 2017. not December 31, 2017 10 “2017 10 not 2017 10 Reclassifications Certain amounts reported previously have been reclassified to conform to the current year presentation, with no R ecent Accounting Pronouncements In August 2018, 2018 15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 40 December 15, 2019, In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019 In June 2018, 2018 07, Compensation - Stock Compensation (Topic 718 December 15, 2018, no 606. In January 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment two zero December 15, 2019; not In January 2017, 2017 01, Business Combinations (Topic 805 ): Clarifying the Definition of a Business not not January 1, 2018 no In February 2016, 2016 02, Leases (Topic 842 2017 13, 2018 10 2018 11 842 1 2 December 15, 2018, not In May 2014, 2014 09, Revenue from Contracts with Customers 606 five March, April, May December 2016, December 15, 2017, 606 605. January 1, 2018, no 2 |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. Revenue Recognition Sales of Products We earn revenue from contracts with customers, primarily through the sale of our purified, multi-gallon bottled water, self-service filtered drinking water, or through the sale of water dispensers. All revenue recognized in the current period is derived from contracts with customers. We account for these revenues under Topic 606 January 1, 2018, no In certain arrangements, depending on the nature and scope of the contract, our customer may may may Our performance obligations vary by business segment. Our performance obligations may may Our arrangements may We have no may Typically, the transaction price of our products is fixed as agreed upon in our contracts with customers. Our arrangements may may one not Our sales arrangements may not We recognize revenue on the products we sell at a point in time. The delivery of purified water and sale of the related bottle are completed via a point-of-sale transaction at which time the customer obtains control and remits payment for the product. The shipment of a water dispenser to our customer reflects the transfer of control. We may may 30 not no Multiple Performance Obligations Our sales arrangements may Presentation of Revenue Our arrangements may not Accounts Receivable Net of Allowance s Trade accounts receivable represent amounts billed to customers and not not $2,282 $1,509 September 30, 2018 December 31, 2017, three nine September 30, 2018 2017 Disaggregation of Revenue The tables below present our consolidated net sales by geographic area. Three months ended September 30, 2018 Refill Exchange Dispensers Total Geographical area United States $ 46,884 $ 20,658 $ 11,053 $ 78,595 Canada 1,446 855 874 3,175 $ 48,330 $ 21,513 $ 11,927 $ 81,770 Three months ended September 30, 2017 Refill Exchange Dispensers Total Geographical area United States $ 49,795 $ 19,600 $ 10,419 $ 79,814 Canada 1,492 835 66 2,393 $ 51,287 $ 20,435 $ 10,485 $ 82,207 Nine months ended September 30, 2018 Refill Exchange Dispensers Total Geographical area United States $ 130,526 $ 57,273 $ 33,522 $ 221,321 Canada 4,016 2,504 3,390 9,910 $ 134,542 $ 59,777 $ 36,912 $ 231,231 Nine months ended September 30, 2017 Refill Exchange Dispensers Total Geographical area United States $ 128,127 $ 53,005 $ 30,412 $ 211,544 Canada 3,687 2,296 235 6,218 $ 131,814 $ 55,301 $ 30,647 $ 217,762 |
Note 3 - Impairment Charges and
Note 3 - Impairment Charges and Other | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Asset Impairment Charges [Text Block] | 3. Impairment Charges and Other Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Impairment of Glacier trade name intangible $ 60,750 $ – $ 60,750 $ – Impairment of property and equipment 2,363 – 2,363 – Impairment of Ice assets held-for-sale 4,586 – 4,586 – Loss (gain) on disposal of property and equipment and other 241 (72 ) 485 (90 ) Total $ 67,940 $ (72 ) $ 68,184 $ (90 ) During the third September 30, 2018, December 2016, $62,900 three nine September 30, 2018, $60,750 2019 2020, Glacier Trade Name Intangible Balance at December 31, 2017 $ 62,900 Impairment charge (60,750 ) Balance at September 30, 2018 $ 2,150 In addition, as a result of the Re-branding Strategy, during the third September 30, 2018, $2,363 not During the third September 30, 2018, one No. 360, Property, Plant, and Equipment. three nine September 30, 2018, $4,586 $3,786 $800 September 30, 2018 September 30, 2018 Property and equipment, net $ 4,688 Identifiable intangible assets 600 Assets held-for-sale at fair value $ 5,288 Contingent consideration $ 1,438 Liabilities held-for-sale at fair value $ 1,438 Ice Assets, net $ 3,850 The estimated fair value of the assets held-for-sale does not |
Note 4 - Debt and Capital Lease
Note 4 - Debt and Capital Leases, Net of Debt Issuance Costs | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt and Capital Leases Disclosures [Text Block] | 4. D ebt and Capital Leases , net of Debt Issuance Costs Debt and capital leases, net of debt issuance costs are summarized as follows: September 30, December 31, 2018 2017 Revolving facilities $ – $ – Term loans 187,625 184,140 Debt issuance costs, net (1,346 ) (3,011 ) Total Credit Facilities 186,279 181,129 Junior Subordinated Debentures – 88,579 Capital leases 3,005 3,558 189,284 273,266 Less current portion (11,088 ) (3,473 ) Long-term debt and capital leases, net of current portion and debt issuance costs $ 178,196 $ 269,793 SunTrust Credit Facility On June 22, 2018, $190,000 $30,000 June 22, 2023. 5% $9,500, first Interest on outstanding borrowings under the SunTrust Credit Facility is calculated at our option at either ( 1 0.5%, 1.0% 2 1 2 2.50% 1.50% 0.30% 0.15% 0.30% $1,662, September 30, 2018, no $30,000 The SunTrust Credit Facility contains a number of affirmative and negative covenants that use consolidated adjusted EBITDA (“Adjusted EBITDA”). Adjusted EBITDA is a non-U.S. GAAP financial measure that is calculated as net income (loss) before depreciation and amortization; interest expense, net; income taxes; change in fair value of warrant liability; non-cash stock-based compensation expense; non-recurring and acquisition-related costs; and loss (gain) on disposal of property and equipment and other assets, and other. The primary operational covenants included in the SunTrust Credit Facility are as follows: (i) a minimum consolidated fixed charge coverage ratio of 1.10:1.00 June 30, 2018 4.50:1.00 June 30, 2018 4.25:1.00 June 30, 2019 June 30, 2020 4.00:1.00 June 30, 2020. September 30, 2018, 1.39:1.00 3.37:1.00. The proceeds of entering into the SunTrust Credit Facility, together with the approximately $70,791 Goldman Credit Facility On December 12, 2016, $186,000 $10,000 second 2018. second 2018, $2,960 $3,904 Junior Subordinated Debentures and Investments In connection with the Acquisition, we assumed $89,529 9 1/16% 2028 June 29, 2018, $87,938, $309, $475 nine September 30, 2018 In connection with the redemption of the Subordinated Debentures described above, the Trust issued a revocable notice of redemption of all outstanding capital securities of the Trust, and all outstanding capital securities of the Trust were redeemed on June 29, 2018. $6,277 $161 nine September 30, 2018. Subsequent to the redemption of the Subordinated Debentures and the redemption of all outstanding capital securities of the Trust, the Trust and all related agreements were terminated and effectively dissolved. |
Note 5 - Glacier Warrants
Note 5 - Glacier Warrants | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Warrant Liability [Text Block] | 5. Glacier Warrant s On December 12, 2016, 2,000 33% June 10, 2017, 33% September 8, 2017 34% December 12, 2017. $11.88 December 12, 2021. $8,420 On March 13, 2017, No. 1 no may March 13, 2017, no January 1, 2017 March 13, 2017 $3,220 nine September 30, 2017. The estimated fair value of the Glacier Warrants was determined using Level 3 March 13, 2017 Expected life in years 4.75 Risk-free interest rate 2.08 % Expected volatility 33.0 % Dividend yield 0.0 % The risk-free interest rate was based on the U.S. Treasury rate for the expected remaining life of common stock warrants. Our expected volatility was based on the average long-term historical volatilities of peer companies. The dividend yield assumption was based on our current intent not During the nine September 30, 2018, 1,136 116 349 September 30, 2018, 631 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6. Stock-Based Compensation Overview Total non-cash stock-based compensation expense by award type for all of our plans, all of which is included in selling, general and administrative expenses on our condensed consolidated statements of operations, was as follows: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Stock options $ 85 $ 142 $ 361 $ 441 Restricted stock (12 ) 641 1,709 2,089 Value Creation Plan – – – 1,482 Long-Term Performance Plan (67 ) 124 565 526 Employee Stock Purchase Plan 25 26 75 73 $ 31 $ 933 $ 2,710 $ 4,611 Value Creation Plan On May 7, 2012, May 14, 2013 March 3, 2016. three $15,000, $24,000 $28,000 2014 2019. December 22, 2016, December 31, 2016, third $28,000 The award pool for the second $24,000 17.5% March 11, 2016 March 20, 2017, third 2016. March 20, 2017, 1,370 $24,000 not $1,482 nine September 30, 2017. $10,111 nine September 30, 2018 1,706 Long-Term Performance Plan On February 28, 2017, On March 20, 2017, January 1, 2017 December 31, 2019 ( “March 2017 March 2017 2017 2019. third 2018, March 2017 not three nine September 30, 2018. On March 9, 2018, January 1, 2018 December 31, 2020 ( “March 2018 March 2018 2018 2020. |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 7. Commitments and Contingencies Omnifrio Single-Serve Beverage Business We previously accrued deferred purchase price payments totaling $1,901 December 31, 2016 April 11, 2011 March 31, 2017, $710 April 2011 $1,191, nine September 30, 2017. Texas Regional Operator Litigation/Arbitration On August 8, 2014, April 10, 2015, December 31, 2015, no We entered into a settlement and mutual release agreement with Artesia Springs, LLC and HOD Enterprises, L.P. on April 5, 2017, April, July September 2017 $3,783. $3,701, nine September 30, 2017. $21 $82 three nine September 30, 2017, Prism Arbitration On August 5, 2014, $1,000 December 19, 2014 On July 24, 2017, $825. $825, nine September 30, 2017. Sales Tax We routinely purchase equipment for use in operations from various vendors. These purchases are subject to sales tax depending on the equipment type and local sales tax regulations; however, we believe certain vendors have not not Other Contingencies From time to time, we are involved in various claims and legal actions that arise in the normal course of business. Management believes that the outcome of such claims and legal actions will not |
Note 8 - Income Tax (Benefit) P
Note 8 - Income Tax (Benefit) Provision | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8. Income Tax (Benefit) Provision On December 22, 2017, “2017 2017 35% 21%. 2017 2018. 740 2017 118, not one Although we have incurred operating losses since inception, during the first second 2018, 2017 During the third 2018, 3 $60,750 $4.1 third 2018 During the third 2018, 2017 $1.7 second 2018. 10 second 2018, For the three nine September 30, 2017, $451 $823, Section 382 382, 382 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 9. Fair Value Measurements Fair value rules currently apply to all financial assets and liabilities and for certain nonfinancial assets and liabilities that are required to be recognized or disclosed at fair value. For this purpose, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. U.S. GAAP establishes a three • Level 1 • Level 2 • Level 3 no At September 30, 2018 December 31, 2017, September 30, 2018 Fair Value Level 1 Level 2 Level 3 Assets: Assets held-for-sale at fair value $ 5,288 $ – $ – $ 5,288 Investment in Glacier securities $ – $ – $ – $ – Total assets $ 5,288 $ – $ – $ 5,288 Liabilities: Liabilities held-for-sale at fair value $ 1,438 $ – $ – $ 1,438 Contingent consideration $ – $ – $ – $ – Total liabilities $ 1,438 $ – $ – $ 1,438 December 31, 2017 Fair Value Level 1 Level 2 Level 3 Assets: Investment in Glacier securities $ 3,881 $ – $ 3,881 $ – Total assets $ 3,881 $ – $ 3,881 $ – Liabilities: Contingent consideration $ 1,464 $ – $ – $ 1,464 Total liabilities $ 1,464 $ – $ – $ 1,464 The carrying amounts of cash and cash equivalents, accounts receivable, net, accounts payable, and accrued expenses and other current liabilities, approximate their fair values due to their short maturities. Other long-term liabilities on our condensed consolidated balance sheets are presented at their carrying value, which approximates their fair value. Based on borrowing rates currently available to us for loans with similar terms and the variable interest rate for borrowings under our SunTrust Credit Facility, the carrying value of debt and capital leases approximates fair value. The following table provides a rollforward of our Level 3 Assets Held-For-Sale Contingent Consideration Liabilities Held-For-Sale Balance at December 31, 2017 $ – $ 1,464 $ – Change in fair value – (26 ) – Reclassification to assets held-for-sale at fair value 9,874 – – Reclassification to liabilities held-for-sale at fair value – (1,438 ) 1,438 Impairment of assets held-for-sale (4,586 ) – – Balance at September 30, 2018 $ 5,288 $ – $ 1,438 At September 30, 2018, one 3 third September 30, 2018, $4,586 $3,786 $800 The following table presents the nonrecurring fair value measurements recorded during the three nine September 30, 2018. no three nine September 30, 2017. Three and Nine Months Ended September 30, 2018 Level 1 Level 2 Level 3 Impairment Charge Glacier trade name $ – $ – $ 2,150 $ 60,750 Property and equipment $ – $ – $ 571 $ 2,363 During the third September 30, 2018, $60,750 $2,150 3 In addition, as a result of the Re-branding Strategy, during the third September 30, 2018, $2,934 $571, $2,363 3 The impairment charges discussed above are recorded in impairment charges and other on the condensed consolidated statements of operations. |
Note 10 - Earnings Per Share
Note 10 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 10. Earnings Per Share The following table sets forth the calculations of basic and diluted earnings per share: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Basic: Net (loss) income $ (58,238 ) $ 4,947 $ (56,577 ) $ (9,391 ) Weighted average shares 40,072 33,525 36,410 33,086 Basic (loss) earnings per share $ (1.45 ) $ 0.15 $ (1.55 ) $ (0.28 ) Diluted: Net (loss) income $ (58,238 ) $ 4,947 $ (56,577 ) $ (9,391 ) Weighted average shares 40,072 33,525 36,410 33,086 Potential shares arising from stock options, restricted stock and warrants – 1,128 – – Weighted average shares - diluted 40,072 34,653 36,410 33,086 Diluted (loss) earnings per share $ (1.45 ) $ 0.14 $ (1.55 ) $ (0.28 ) For the three nine September 30, 2018, 2,437 963 For the three September 30, 2017, 511 For the nine September 30, 2017, 3,796 |
Note 11 - Segments
Note 11 - Segments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 11. Segments We have three (“Dispensers Our Refill segment sales consist of the sale of filtered drinking water dispensed directly to consumers through technologically advanced, self-service machines located at major retailers throughout the United States and Canada. Our Exchange segment sales consist of the sale of multi-gallon purified bottled water offered through retailers in the United States and Canada. Our Exchange products are offered through point of purchase display racks and recycling centers that are prominently located at major retailers in space that is often underutilized. Our Dispensers segment sells water dispensers that are designed to dispense Primo and other dispenser-compatible bottled water. Our Dispensers sales are primarily generated through major retailers in the United States and Canada, where we recognize revenues for the sale of the water dispensers when the customer obtains control. We support retail sell-through with domestic inventory. We evaluate the financial results of these segments focusing primarily on segment net sales and segment (loss) income from operations before depreciation and amortization (“segment (loss) income from operations”). We utilize segment net sales and segment (loss) income from operations because we believe they provide useful information for effectively allocating our resources between business segments, evaluating the health of our business segments based on metrics that management can actively influence and gauging our investments and our ability to service, incur or pay down debt. Cost of sales for Refill consists primarily of costs associated with routine maintenance of reverse osmosis water filtration systems and filtered water displays, costs of our field service operations and commissions paid to retailers associated with revenues earned. Cost of sales for Exchange consists primarily of costs for bottling, distribution and bottles. Cost of sales for Dispensers consists of contract manufacturing, freight and duties. Selling, general and administrative expenses for Refill, Exchange, and Dispensers consist primarily of personnel costs for operations support as well as other supporting costs for operating each segment. Expenses not The following table presents segment information for the following periods: Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Segment net sales: Refill $ 48,330 $ 51,287 $ 134,542 $ 131,814 Exchange 21,513 20,435 59,777 55,301 Dispensers 11,927 10,485 36,912 30,647 $ 81,770 $ 82,207 $ 231,231 $ 217,762 Segment (loss) income from operations: Refill $ 14,565 $ 15,413 $ 40,043 $ 35,619 Exchange 6,274 6,039 17,567 16,572 Dispensers 323 970 2,309 2,657 Corporate (5,073 ) (5,427 ) (19,319 ) (17,955 ) Non-recurring and acquisition-related costs (139 ) (158 ) (626 ) (7,583 ) Depreciation and amortization (6,194 ) (6,358 ) (18,365 ) (19,571 ) Impairment charges and other (67,940 ) 72 (68,184 ) 90 $ (58,184 ) $ 10,551 $ (46,575 ) $ 9,829 Depreciation and amortization expense: Refill $ 4,651 $ 4,555 $ 12,705 $ 15,010 Exchange 1,676 1,567 5,029 4,004 Dispensers 45 47 141 139 Corporate (178 ) 189 490 418 $ 6,194 $ 6,358 $ 18,365 $ 19,571 Capital expenditures: Refill $ 9,334 $ 10,822 Exchange 5,152 3,341 Dispensers 94 57 Corporate 1,216 1,334 $ 15,796 $ 15,554 September 30, 2018 December 31, 2017 Identifiable assets: Refill $ 268,810 $ 343,513 Exchange 24,469 23,296 Dispensers 18,906 12,486 Corporate 6,297 4,458 $ 318,482 $ 383,753 As of September 30, 2018 December 31, 2017, $92,069 $92,934, three nine September 30, 2018, $67,699 3 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements and notes have been prepared in accordance with our accounting practices described in our audited consolidated financial statements as of and for the year ended December 31, 2017. not December 31, 2017 10 “2017 10 not 2017 10 |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain amounts reported previously have been reclassified to conform to the current year presentation, with no |
New Accounting Pronouncements, Policy [Policy Text Block] | R ecent Accounting Pronouncements In August 2018, 2018 15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 40 December 15, 2019, In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019 In June 2018, 2018 07, Compensation - Stock Compensation (Topic 718 December 15, 2018, no 606. In January 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment two zero December 15, 2019; not In January 2017, 2017 01, Business Combinations (Topic 805 ): Clarifying the Definition of a Business not not January 1, 2018 no In February 2016, 2016 02, Leases (Topic 842 2017 13, 2018 10 2018 11 842 1 2 December 15, 2018, not In May 2014, 2014 09, Revenue from Contracts with Customers 606 five March, April, May December 2016, December 15, 2017, 606 605. January 1, 2018, no 2 |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months ended September 30, 2018 Refill Exchange Dispensers Total Geographical area United States $ 46,884 $ 20,658 $ 11,053 $ 78,595 Canada 1,446 855 874 3,175 $ 48,330 $ 21,513 $ 11,927 $ 81,770 Three months ended September 30, 2017 Refill Exchange Dispensers Total Geographical area United States $ 49,795 $ 19,600 $ 10,419 $ 79,814 Canada 1,492 835 66 2,393 $ 51,287 $ 20,435 $ 10,485 $ 82,207 Nine months ended September 30, 2018 Refill Exchange Dispensers Total Geographical area United States $ 130,526 $ 57,273 $ 33,522 $ 221,321 Canada 4,016 2,504 3,390 9,910 $ 134,542 $ 59,777 $ 36,912 $ 231,231 Nine months ended September 30, 2017 Refill Exchange Dispensers Total Geographical area United States $ 128,127 $ 53,005 $ 30,412 $ 211,544 Canada 3,687 2,296 235 6,218 $ 131,814 $ 55,301 $ 30,647 $ 217,762 |
Note 3 - Impairment Charges a_2
Note 3 - Impairment Charges and Other (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Asset Impairment Charges [Table Text Block] | Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Impairment of Glacier trade name intangible $ 60,750 $ – $ 60,750 $ – Impairment of property and equipment 2,363 – 2,363 – Impairment of Ice assets held-for-sale 4,586 – 4,586 – Loss (gain) on disposal of property and equipment and other 241 (72 ) 485 (90 ) Total $ 67,940 $ (72 ) $ 68,184 $ (90 ) |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | Glacier Trade Name Intangible Balance at December 31, 2017 $ 62,900 Impairment charge (60,750 ) Balance at September 30, 2018 $ 2,150 |
Disposal Groups, Including Discontinued Operations [Table Text Block] | September 30, 2018 Property and equipment, net $ 4,688 Identifiable intangible assets 600 Assets held-for-sale at fair value $ 5,288 Contingent consideration $ 1,438 Liabilities held-for-sale at fair value $ 1,438 Ice Assets, net $ 3,850 |
Note 4 - Debt and Capital Lea_2
Note 4 - Debt and Capital Leases, Net of Debt Issuance Costs (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, December 31, 2018 2017 Revolving facilities $ – $ – Term loans 187,625 184,140 Debt issuance costs, net (1,346 ) (3,011 ) Total Credit Facilities 186,279 181,129 Junior Subordinated Debentures – 88,579 Capital leases 3,005 3,558 189,284 273,266 Less current portion (11,088 ) (3,473 ) Long-term debt and capital leases, net of current portion and debt issuance costs $ 178,196 $ 269,793 |
Note 5 - Glacier Warrants (Tabl
Note 5 - Glacier Warrants (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 13, 2017 Expected life in years 4.75 Risk-free interest rate 2.08 % Expected volatility 33.0 % Dividend yield 0.0 % |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Stock options $ 85 $ 142 $ 361 $ 441 Restricted stock (12 ) 641 1,709 2,089 Value Creation Plan – – – 1,482 Long-Term Performance Plan (67 ) 124 565 526 Employee Stock Purchase Plan 25 26 75 73 $ 31 $ 933 $ 2,710 $ 4,611 |
Note 9 - Fair Value Measureme_2
Note 9 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 2018 Fair Value Level 1 Level 2 Level 3 Assets: Assets held-for-sale at fair value $ 5,288 $ – $ – $ 5,288 Investment in Glacier securities $ – $ – $ – $ – Total assets $ 5,288 $ – $ – $ 5,288 Liabilities: Liabilities held-for-sale at fair value $ 1,438 $ – $ – $ 1,438 Contingent consideration $ – $ – $ – $ – Total liabilities $ 1,438 $ – $ – $ 1,438 December 31, 2017 Fair Value Level 1 Level 2 Level 3 Assets: Investment in Glacier securities $ 3,881 $ – $ 3,881 $ – Total assets $ 3,881 $ – $ 3,881 $ – Liabilities: Contingent consideration $ 1,464 $ – $ – $ 1,464 Total liabilities $ 1,464 $ – $ – $ 1,464 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Assets Held-For-Sale Contingent Consideration Liabilities Held-For-Sale Balance at December 31, 2017 $ – $ 1,464 $ – Change in fair value – (26 ) – Reclassification to assets held-for-sale at fair value 9,874 – – Reclassification to liabilities held-for-sale at fair value – (1,438 ) 1,438 Impairment of assets held-for-sale (4,586 ) – – Balance at September 30, 2018 $ 5,288 $ – $ 1,438 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Three and Nine Months Ended September 30, 2018 Level 1 Level 2 Level 3 Impairment Charge Glacier trade name $ – $ – $ 2,150 $ 60,750 Property and equipment $ – $ – $ 571 $ 2,363 |
Note 10 - Earnings Per Share (T
Note 10 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Basic: Net (loss) income $ (58,238 ) $ 4,947 $ (56,577 ) $ (9,391 ) Weighted average shares 40,072 33,525 36,410 33,086 Basic (loss) earnings per share $ (1.45 ) $ 0.15 $ (1.55 ) $ (0.28 ) Diluted: Net (loss) income $ (58,238 ) $ 4,947 $ (56,577 ) $ (9,391 ) Weighted average shares 40,072 33,525 36,410 33,086 Potential shares arising from stock options, restricted stock and warrants – 1,128 – – Weighted average shares - diluted 40,072 34,653 36,410 33,086 Diluted (loss) earnings per share $ (1.45 ) $ 0.14 $ (1.55 ) $ (0.28 ) |
Note 11 - Segments (Tables)
Note 11 - Segments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Segment net sales: Refill $ 48,330 $ 51,287 $ 134,542 $ 131,814 Exchange 21,513 20,435 59,777 55,301 Dispensers 11,927 10,485 36,912 30,647 $ 81,770 $ 82,207 $ 231,231 $ 217,762 Segment (loss) income from operations: Refill $ 14,565 $ 15,413 $ 40,043 $ 35,619 Exchange 6,274 6,039 17,567 16,572 Dispensers 323 970 2,309 2,657 Corporate (5,073 ) (5,427 ) (19,319 ) (17,955 ) Non-recurring and acquisition-related costs (139 ) (158 ) (626 ) (7,583 ) Depreciation and amortization (6,194 ) (6,358 ) (18,365 ) (19,571 ) Impairment charges and other (67,940 ) 72 (68,184 ) 90 $ (58,184 ) $ 10,551 $ (46,575 ) $ 9,829 Depreciation and amortization expense: Refill $ 4,651 $ 4,555 $ 12,705 $ 15,010 Exchange 1,676 1,567 5,029 4,004 Dispensers 45 47 141 139 Corporate (178 ) 189 490 418 $ 6,194 $ 6,358 $ 18,365 $ 19,571 Capital expenditures: Refill $ 9,334 $ 10,822 Exchange 5,152 3,341 Dispensers 94 57 Corporate 1,216 1,334 $ 15,796 $ 15,554 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | September 30, 2018 December 31, 2017 Identifiable assets: Refill $ 268,810 $ 343,513 Exchange 24,469 23,296 Dispensers 18,906 12,486 Corporate 6,297 4,458 $ 318,482 $ 383,753 |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Significant Accounting Policies (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | May 22, 2018 | Sep. 30, 2018 | Sep. 30, 2017 |
Proceeds from Issuance of Common Stock, Net of Costs | $ 70,791 | ||
Follow on Public Offering [Member] | |||
Stock Issued During Period, Shares, New Issues | 5,339 | ||
Shares Issued, Price Per Share | $ 14 | ||
Proceeds from Issuance of Common Stock, Net of Costs | $ 70,791 | $ 70,791 | |
Payments of Stock Issuance Costs | $ 4,132 | ||
Over-Allotment Option [Member] | |||
Stock Issued During Period, Shares, New Issues | 696 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Allowance for Doubtful Accounts Receivable, Ending Balance | $ 2,282 | $ 1,509 |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net sales | $ 81,770 | $ 82,207 | $ 231,231 | $ 217,762 |
Refill [Member] | ||||
Net sales | 48,330 | 51,287 | 134,542 | 131,814 |
Exchange [Member] | ||||
Net sales | 21,513 | 20,435 | 59,777 | 55,301 |
Dispensers [Member] | ||||
Net sales | 11,927 | 10,485 | 36,912 | 30,647 |
UNITED STATES | ||||
Net sales | 78,595 | 79,814 | 221,321 | 211,544 |
UNITED STATES | Refill [Member] | ||||
Net sales | 46,884 | 49,795 | 130,526 | 128,127 |
UNITED STATES | Exchange [Member] | ||||
Net sales | 20,658 | 19,600 | 57,273 | 53,005 |
UNITED STATES | Dispensers [Member] | ||||
Net sales | 11,053 | 10,419 | 33,522 | 30,412 |
CANADA | ||||
Net sales | 3,175 | 2,393 | 9,910 | 6,218 |
CANADA | Refill [Member] | ||||
Net sales | 1,446 | 1,492 | 4,016 | 3,687 |
CANADA | Exchange [Member] | ||||
Net sales | 855 | 835 | 2,504 | 2,296 |
CANADA | Dispensers [Member] | ||||
Net sales | $ 874 | $ 66 | $ 3,390 | $ 235 |
Note 3 - Impairment Charges a_3
Note 3 - Impairment Charges and Other (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 60,750 | $ 60,750 | |||
Impairment of Long-Lived Assets Held-for-use | 2,363 | 2,363 | |||
Impairment of Long-Lived Assets to be Disposed of | 4,586 | 4,586 | |||
Glacier Branded Refill Equipment [Member] | |||||
Impairment of Long-Lived Assets Held-for-use | 2,363 | ||||
Ice Assets [Member] | |||||
Impairment of Long-Lived Assets to be Disposed of | 4,586 | 4,586 | |||
Ice Assets, Related to Property and Equipment [Member] | |||||
Impairment of Long-Lived Assets to be Disposed of | 3,786 | 3,786 | |||
Ice Assets, Related to Goodwill [Member] | |||||
Impairment of Long-Lived Assets to be Disposed of | 800 | 800 | |||
Trade Names [Member] | Refill [Member] | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance | 2,150 | 2,150 | $ 62,900 | ||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 60,750 | 60,750 | |||
Trade Names [Member] | Refill [Member] | Glacier Water Services, Inc. [Member] | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Ending Balance | $ 62,900 | ||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 60,750 | $ 60,750 |
Note 3 - Impairment Charges a_4
Note 3 - Impairment Charges and Other - Asset Impairment Charges (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 60,750 | $ 60,750 | ||
Impairment of Long-Lived Assets Held-for-use | 2,363 | 2,363 | ||
Impairment of Long-Lived Assets to be Disposed of | 4,586 | 4,586 | ||
Loss (gain) on disposal of property and equipment and other | 241 | (72) | 485 | (90) |
Total | $ 67,940 | $ (72) | $ 68,184 | $ (90) |
Note 3 - Impairment Charges a_5
Note 3 - Impairment Charges and Other - Discontinue of Glacier Trade Name (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Impairment charge | $ (60,750) | $ (60,750) | ||
Trade Names [Member] | Refill [Member] | ||||
Balance at December 31, 2017 | 62,900 | |||
Impairment charge | (60,750) | (60,750) | ||
Balance at September 30, 2018 | $ 2,150 | $ 2,150 |
Note 3 - Impairment Charges a_6
Note 3 - Impairment Charges and Other - Estimated Fair Value of Ice Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets held-for-sale at fair value | $ 5,288 | |
Liabilities held-for-sale at fair value | 1,438 | |
Ice Assets [Member] | ||
Property and equipment, net | 4,688 | |
Identifiable intangible assets | 600 | |
Assets held-for-sale at fair value | 5,288 | |
Contingent consideration | 1,438 | |
Liabilities held-for-sale at fair value | 1,438 | |
Ice Assets, net | $ 3,850 |
Note 4 - Debt and Capital Lea_3
Note 4 - Debt and Capital Leases, Net of Debt Issuance Costs (Details Textual) $ in Thousands | Jun. 29, 2018USD ($) | Jun. 22, 2018USD ($) | May 22, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2020 | Jun. 22, 2023 | Dec. 31, 2017USD ($) | Dec. 12, 2016USD ($) |
Long-term Debt, Total | $ 189,284 | $ 189,284 | $ 273,266 | |||||||
Payments of Debt Issuance Costs | 1,671 | $ 261 | ||||||||
Long-term Line of Credit, Total | ||||||||||
Proceeds from Issuance of Common Stock, Net of Costs | 70,791 | |||||||||
Proceeds from Redemption of Capital Securities | $ 6,277 | |||||||||
Gain (Loss) on Redemption of Capital Securities | (161) | |||||||||
Follow on Public Offering [Member] | ||||||||||
Proceeds from Issuance of Common Stock, Net of Costs | $ 70,791 | 70,791 | ||||||||
Subordinated Debt [Member] | ||||||||||
Long-term Debt, Total | $ 88,579 | $ 89,529 | ||||||||
Debt Instrument, Interest Rate, Effective Percentage | 9.0625% | |||||||||
Repayments of Long-term Debt, Total | 87,938 | |||||||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | 309 | |||||||||
Gain (Loss) on Repurchase of Debt Instrument | $ 475 | |||||||||
SunTrust Credit Facility [Member] | ||||||||||
Debt Instrument, Covenant, Minimum Fixed Charge Coverage Ratio | 1.1 | |||||||||
Debt Instrument, Covenant, Maximum Leverage Ratio | 4.5 | |||||||||
Fixed Charge Coverage Ratio | 1.39 | 1.39 | ||||||||
Total Leverage Ratio | 3.37 | 3.37 | ||||||||
SunTrust Credit Facility [Member] | Scenario, Forecast [Member] | ||||||||||
Debt Instrument, Covenant, Maximum Leverage Ratio | 4.25 | 4 | ||||||||
SunTrust Credit Facility [Member] | Federal Funds Effective Swap Rate [Member] | ||||||||||
Debt Instrument, Base Rate, Basis Spread on Variable Rate | 0.50% | |||||||||
SunTrust Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument, Base Rate, Basis Spread on Variable Rate | 1.00% | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | |||||||||
SunTrust Credit Facility [Member] | Base Rate [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||||||
SunTrust Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000 | |||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.30% | |||||||||
Payments of Debt Issuance Costs | $ 1,662 | |||||||||
Long-term Line of Credit, Total | $ 0 | 0 | ||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 30,000 | 30,000 | ||||||||
SunTrust Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member] | ||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.15% | |||||||||
SunTrust Credit Facility [Member] | Revolving Credit Facility [Member] | Maximum [Member] | ||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.30% | |||||||||
SunTrust Credit Facility [Member] | Term Loan [Member] | ||||||||||
Long-term Debt, Total | $ 190,000 | |||||||||
Debt Instrument, Annual Principal Payment, Percentage | 5.00% | |||||||||
Debt Instrument, Annual Principal Payment | $ 9,500 | |||||||||
Goldman credit Facility [Member] | ||||||||||
Amortization of Debt Discount (Premium) | 2,960 | |||||||||
Early Payment Penalties | $ 3,904 | |||||||||
Goldman credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000 | |||||||||
Goldman credit Facility [Member] | Term Loan [Member] | ||||||||||
Long-term Debt, Total | $ 186,000 |
Note 4 - Debt and Capital Lea_4
Note 4 - Debt and Capital Leases, Net of Debt Issuance Costs - Summary of Debt and Capital Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 12, 2016 |
Revolving facilities | |||
Long-term debt and capital leases, net of debt issuance costs | 189,284 | 273,266 | |
Less current portion | (11,088) | (3,473) | |
Long-term debt and capital leases, net of current portion and debt issuance costs | 178,196 | 269,793 | |
Term Notes [Member] | |||
Long-term debt, gross | 187,625 | 184,140 | |
Revolving Credit Facility and Term Notes [Member] | |||
Debt issuance costs, net | (1,346) | (3,011) | |
Long-term debt and capital leases, net of debt issuance costs | 186,279 | 181,129 | |
Subordinated Debt [Member] | |||
Long-term debt and capital leases, net of debt issuance costs | 88,579 | $ 89,529 | |
Capital Lease Obligations [Member] | |||
Long-term debt and capital leases, net of debt issuance costs | $ 3,005 | $ 3,558 |
Note 5 - Glacier Warrants (Deta
Note 5 - Glacier Warrants (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | Dec. 12, 2016 | Mar. 13, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Fair Value Adjustment of Warrants | $ 3,220 | $ 3,220 | ||||
Stock Issued During Period, Shares, Warrants Exercised | 1,136 | |||||
Stock Issued During Period, Shares, Warrants Exercised, Cashless Exercise | 116 | |||||
Class of Warrant or Right, Cashless Exercise of Warrants or Rights | 349 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 631 | 631 | ||||
Glacier Water Services, Inc. [Member] | Warrant [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 11.88 | |||||
Derivative Liability, Total | $ 8,420 | |||||
Glacier Water Services, Inc. [Member] | Warrants Issued [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 2,000 | |||||
Class of Warrant Right, Vesting Rights, Percentage, Tranche One | 33.00% | |||||
Class of Warrant Right, Vesting Rights, Percentage, Tranche Two | 33.00% | |||||
Class of Warrant Right, Vesting Rights, Percentage, Tranche Three | 34.00% |
Note 5 - Glacier Warrants - Val
Note 5 - Glacier Warrants - Valuation Assumptions (Details) - Glacier Warrants [Member] | Mar. 13, 2017 |
Measurement Input, Expected Term [Member] | |
Warrant and rights oustanding, measurement input | 4.75 |
Measurement Input, Risk Free Interest Rate [Member] | |
Warrant and rights oustanding, measurement input | 0.0208 |
Measurement Input, Price Volatility [Member] | |
Warrant and rights oustanding, measurement input | 0.33 |
Measurement Input, Expected Dividend Rate [Member] | |
Warrant and rights oustanding, measurement input | 0 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - Value Creation Plan [Member] - USD ($) shares in Thousands, $ in Thousands | Mar. 20, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Target EBITDA One | $ 15,000 | ||
Target EBITDA Two | 24,000 | ||
Target EBITDA Three | $ 28,000 | ||
Share-based Compensation, Percentage of Market Capital Appreciation of Stock, Second Issuance | 17.50% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,370 | ||
Allocated Share-based Compensation Expense, Total | $ 1,482 | ||
Shares Paid for Tax Withholding for Share Based Compensation | 10,111 | ||
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total | 1,706 |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Non-cash Stock-based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Value Creation Plan [Member] | ||||
Non-cash stock-based compensation expense | $ 1,482 | |||
Selling, General and Administrative Expenses [Member] | ||||
Non-cash stock-based compensation expense | $ 31 | $ 933 | $ 2,710 | 4,611 |
Selling, General and Administrative Expenses [Member] | Value Creation Plan [Member] | ||||
Non-cash stock-based compensation expense | 1,482 | |||
Selling, General and Administrative Expenses [Member] | Long-term Performance Plan [Member] | ||||
Non-cash stock-based compensation expense | (67) | 124 | 565 | 526 |
Selling, General and Administrative Expenses [Member] | Employee Stock Purchase Plan [Member] | ||||
Non-cash stock-based compensation expense | 25 | 26 | 75 | 73 |
Employee Stock Option [Member] | Selling, General and Administrative Expenses [Member] | ||||
Non-cash stock-based compensation expense | 85 | 142 | 361 | 441 |
Restricted Stock [Member] | Selling, General and Administrative Expenses [Member] | ||||
Non-cash stock-based compensation expense | $ (12) | $ 641 | $ 1,709 | $ 2,089 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Jul. 24, 2017 | Apr. 05, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Aug. 05, 2014 |
Interest Expense, Total | $ 2,465 | $ 5,153 | $ 18,909 | $ 15,177 | |||||
Texas Regional Operator Litigation/Arbitration [Member] | |||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 3,783 | ||||||||
Interest Expense, Total | $ 21 | 82 | |||||||
Prism Arbitration [Member] | |||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 825 | ||||||||
Loss Contingency, Damages Claimed, Value | $ 1,000 | ||||||||
Non-recurring and Acquisition-related Costs [Member] | Texas Regional Operator Litigation/Arbitration [Member] | |||||||||
Litigation Settlement, Expense | 3,701 | ||||||||
Non-recurring and Acquisition-related Costs [Member] | Prism Arbitration [Member] | |||||||||
Litigation Settlement, Expense | 825 | ||||||||
Omnifrio Single-serve Beverage Business [Member] | |||||||||
Settlement and Release Agreement, Cash Amount | $ 710 | ||||||||
Omnifrio Single-serve Beverage Business [Member] | Non-recurring and Acquisition-related Costs [Member] | |||||||||
Other Income | $ 1,191 | ||||||||
Omnifrio Single-serve Beverage Business [Member] | Accrued Expenses and Other Current Liabilities [Member] | |||||||||
Deferred Purchase Price Payments | $ 1,901 |
Note 8 - Income Tax (Benefit)_2
Note 8 - Income Tax (Benefit) Provision (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 60,750 | $ 60,750 | ||||
Income Tax Expense (Benefit), Total | (2,411) | $ 451 | (8,907) | $ 823 | ||
Tax Adjustments, Settlements, and Unusual Provisions | 1,700 | |||||
Trade Names [Member] | Refill [Member] | ||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 60,750 | $ 60,750 | ||||
Income Tax Expense (Benefit), Total | $ (4,100) | |||||
Scenario, Forecast [Member] | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 9 - Fair Value Measureme_3
Note 9 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Impairment of Long-Lived Assets to be Disposed of | $ 4,586 | $ 4,586 | |||
Asset Impairment Charges, Total | 67,940 | (72) | 68,184 | (90) | |
Property, Plant and Equipment, Net, Ending Balance | 92,607 | 92,607 | $ 100,692 | ||
Impairment of Long-Lived Assets Held-for-use | 2,363 | 2,363 | |||
Glacier Branded Refill Equipment [Member] | |||||
Property, Plant and Equipment, Net, Ending Balance | 2,934 | 2,934 | |||
Impairment of Long-Lived Assets Held-for-use | 2,363 | ||||
Glacier Branded Refill Equipment [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Property, Plant, and Equipment, Fair Value Disclosure | 571 | 571 | |||
Refill [Member] | |||||
Asset Impairment Charges, Total | 67,699 | 67,699 | |||
Ice Assets [Member] | |||||
Impairment of Long-Lived Assets to be Disposed of | 4,586 | 4,586 | |||
Ice Assets, Related to Property and Equipment [Member] | |||||
Impairment of Long-Lived Assets to be Disposed of | 3,786 | 3,786 | |||
Ice Assets, Related to Goodwill [Member] | |||||
Impairment of Long-Lived Assets to be Disposed of | 800 | 800 | |||
Glacier Water Services, Inc. [Member] | Trade Names [Member] | Refill [Member] | |||||
Asset Impairment Charges, Total | 60,750 | ||||
Indefinite-lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure | $ 2,150 | $ 2,150 |
Note 9 - Fair Value Measureme_4
Note 9 - Fair Value Measurements - Assets Measured on a Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Assets held-for-sale at fair value | $ 5,288 | |
Investment in Glacier securities | $ 3,881 | |
Total assets | 5,288 | 3,881 |
Liabilities held-for-sale at fair value | 1,438 | |
Contingent consideration | 1,464 | |
Total liabilities | 1,438 | 1,464 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets held-for-sale at fair value | ||
Investment in Glacier securities | ||
Total assets | ||
Liabilities held-for-sale at fair value | ||
Contingent consideration | ||
Total liabilities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets held-for-sale at fair value | ||
Investment in Glacier securities | 3,881 | |
Total assets | 3,881 | |
Liabilities held-for-sale at fair value | ||
Contingent consideration | ||
Total liabilities | ||
Fair Value, Inputs, Level 3 [Member] | ||
Assets held-for-sale at fair value | 5,288 | |
Investment in Glacier securities | ||
Total assets | 5,288 | |
Liabilities held-for-sale at fair value | 1,438 | |
Contingent consideration | 1,464 | |
Total liabilities | $ 1,438 | $ 1,464 |
Note 9 - Fair Value Measureme_5
Note 9 - Fair Value Measurements - Level 3 Fair Value Measurements (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Contingent Consideration [Member] | |
Balance | $ 1,464 |
Change in fair value | (26) |
Reclassification to assets held-for-sale at fair value | |
Reclassification to liabilities held-for-sale at fair value | (1,438) |
Impairment of assets held-for-sale | |
Balance | |
Liabilities Held-for-sale [Member] | |
Balance | |
Change in fair value | |
Reclassification to assets held-for-sale at fair value | |
Reclassification to liabilities held-for-sale at fair value | 1,438 |
Impairment of assets held-for-sale | |
Balance | 1,438 |
Assets Held-for-sale [Member] | |
Balance | |
Change in fair value | |
Reclassification to assets held-for-sale at fair value | 9,874 |
Reclassification to liabilities held-for-sale at fair value | |
Impairment of assets held-for-sale | (4,586) |
Balance | $ 5,288 |
Note 9 - Fair Value Measureme_6
Note 9 - Fair Value Measurements - Impairment Charge on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Glacier trade name | $ 60,750 | $ 60,750 | ||
Impairment charge, property and equipment | 2,363 | 2,363 | ||
Fair Value, Measurements, Nonrecurring [Member] | ||||
Glacier trade name | 60,750 | |||
Impairment charge, property and equipment | 2,363 | |||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Property and equipment | ||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | Trade Names [Member] | ||||
Glacier trade name | ||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||||
Property and equipment | ||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Trade Names [Member] | ||||
Glacier trade name | ||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Property and equipment | 571 | 571 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Trade Names [Member] | ||||
Glacier trade name | $ 2,150 | $ 2,150 |
Note 10 - Earnings Per Share (D
Note 10 - Earnings Per Share (Details Textual) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,437 | 511 | 963 | 3,796 |
Note 10 - Earnings Per Share -
Note 10 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Basic (loss) earnings per common share: | ||||
Net (loss) income | $ (58,238) | $ 4,947 | $ (56,577) | $ (9,391) |
Weighted average shares (in shares) | 40,072 | 33,525 | 36,410 | 33,086 |
Basic (loss) earnings per share (in dollars per share) | $ (1.45) | $ 0.15 | $ (1.55) | $ (0.28) |
Diluted (loss) earnings per common share: | ||||
Net (loss) income | $ (58,238) | $ 4,947 | $ (56,577) | $ (9,391) |
Weighted average shares (in shares) | 40,072 | 33,525 | 36,410 | 33,086 |
Potential shares arising from stock options, restricted stock and warrants (in shares) | 1,128 | |||
Weighted average shares - diluted (in shares) | 40,072 | 34,653 | 36,410 | 33,086 |
Diluted (loss) earnings per share (in dollars per share) | $ (1.45) | $ 0.14 | $ (1.55) | $ (0.28) |
Note 11 - Segments (Details Tex
Note 11 - Segments (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Number of Operating Segments | 3 | ||||
Number of Reportable Segments | 3 | ||||
Goodwill, Ending Balance | $ 92,069 | $ 92,069 | $ 92,934 | ||
Asset Impairment Charges, Total | 67,940 | $ (72) | 68,184 | $ (90) | |
Refill [Member] | |||||
Asset Impairment Charges, Total | $ 67,699 | $ 67,699 |
Note 11 - Segments - Segment In
Note 11 - Segments - Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Segment net sales: | ||||
Segment net sales | $ 81,770 | $ 82,207 | $ 231,231 | $ 217,762 |
Segment (loss) income from operations: | ||||
Segment income (loss) from operations | (58,184) | 10,551 | (46,575) | 9,829 |
Non-recurring and acquisition-related costs | (139) | (158) | (626) | (7,583) |
Depreciation and amortization | (6,194) | (6,358) | (18,365) | (19,571) |
Impairment charges and other | (67,940) | 72 | (68,184) | 90 |
Depreciation and amortization expense: | ||||
Depreciation and amortization | 6,194 | 6,358 | 18,365 | 19,571 |
Capital expenditures: | ||||
Capital expenditures | 15,796 | 15,554 | ||
Refill [Member] | ||||
Segment net sales: | ||||
Segment net sales | 48,330 | 51,287 | 134,542 | 131,814 |
Exchange [Member] | ||||
Segment net sales: | ||||
Segment net sales | 21,513 | 20,435 | 59,777 | 55,301 |
Dispensers [Member] | ||||
Segment net sales: | ||||
Segment net sales | 11,927 | 10,485 | 36,912 | 30,647 |
Operating Segments [Member] | ||||
Segment (loss) income from operations: | ||||
Non-recurring and acquisition-related costs | (139) | (158) | (626) | (7,583) |
Operating Segments [Member] | Refill [Member] | ||||
Segment net sales: | ||||
Segment net sales | 48,330 | 51,287 | 134,542 | 131,814 |
Segment (loss) income from operations: | ||||
Segment income (loss) from operations | 14,565 | 15,413 | 40,043 | 35,619 |
Depreciation and amortization | (4,651) | (4,555) | (12,705) | (15,010) |
Depreciation and amortization expense: | ||||
Depreciation and amortization | 4,651 | 4,555 | 12,705 | 15,010 |
Capital expenditures: | ||||
Capital expenditures | 9,334 | 10,822 | ||
Operating Segments [Member] | Exchange [Member] | ||||
Segment net sales: | ||||
Segment net sales | 21,513 | 20,435 | 59,777 | 55,301 |
Segment (loss) income from operations: | ||||
Segment income (loss) from operations | 6,274 | 6,039 | 17,567 | 16,572 |
Depreciation and amortization | (1,676) | (1,567) | (5,029) | (4,004) |
Depreciation and amortization expense: | ||||
Depreciation and amortization | 1,676 | 1,567 | 5,029 | 4,004 |
Capital expenditures: | ||||
Capital expenditures | 5,152 | 3,341 | ||
Operating Segments [Member] | Dispensers [Member] | ||||
Segment net sales: | ||||
Segment net sales | 11,927 | 10,485 | 36,912 | 30,647 |
Segment (loss) income from operations: | ||||
Segment income (loss) from operations | 323 | 970 | 2,309 | 2,657 |
Depreciation and amortization | (45) | (47) | (141) | (139) |
Depreciation and amortization expense: | ||||
Depreciation and amortization | 45 | 47 | 141 | 139 |
Capital expenditures: | ||||
Capital expenditures | 94 | 57 | ||
Corporate, Non-Segment [Member] | ||||
Segment (loss) income from operations: | ||||
Segment income (loss) from operations | (5,073) | (5,427) | (19,319) | (17,955) |
Depreciation and amortization | 178 | (189) | (490) | (418) |
Depreciation and amortization expense: | ||||
Depreciation and amortization | (178) | 189 | 490 | 418 |
Capital expenditures: | ||||
Capital expenditures | $ 1,216 | $ 1,334 |
Note 11 - Segments - Identifiab
Note 11 - Segments - Identifiable Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Identifiable assets | $ 318,482 | $ 383,753 |
Operating Segments [Member] | Refill [Member] | ||
Identifiable assets | 268,810 | 343,513 |
Operating Segments [Member] | Exchange [Member] | ||
Identifiable assets | 24,469 | 23,296 |
Operating Segments [Member] | Dispensers [Member] | ||
Identifiable assets | 18,906 | 12,486 |
Corporate, Non-Segment [Member] | ||
Identifiable assets | $ 6,297 | $ 4,458 |