Advanced Emissions Solutions, Inc. ADES Cash Flow

Advanced emissions solutions, inc. (ADES)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14
Cash flows from operating activities
Net (loss) income
-1,893	9,098	3,923	8,114	14,402	6,998	5,503	15,291	7,662	6,985	5,792	6,408	8,688	75,830	9,612	7,860	4,376	-2,908	-8,654	-12,447	-6,132	4,677	-3,699	992	-583
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Increase in valuation allowance on deferred tax assets
-	-	-	-	-	-	3,229	-498	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense (benefit)
788	-	-	-	-677	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, amortization, depletion and accretion
2,297	2,469	2,043	757	2,102	461	74	72	116	102	87	118	482	386	139	223	231	387	528	573	531	501	470	456	438
Operating lease expense
774	-	-	-	775	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount and debt issuance costs
354	-	473	470	381	-	0	0	0	-	-	-	-	-	-	-	-	-	25	25	25	-	25	25	25
Gain on settlement of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Impairment of cost method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-428	2,469	-2	48	79	205	16	55
Provision for accounts receivable and other receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	511	500	0	0	0
Interest costs added to principal balance of notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	554	248	330
Stock-based compensation expense
506	685	468	541	317	561	919	675	335	561	475	566	607	630	695	907	636	783	637	4,505	954	981	1,986	841	904
Earnings from equity method investments
8,273	12,125	14,426	20,935	21,690	16,351	9,715	15,889	12,253	17,754	12,120	10,155	13,814	15,518	10,735	13,754	5,577	3,788	-41	4,860	314	20,693	5,603	9,791	6,625
Gain on sale of equity method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,078	0	0	0	0	-	-	-	-
Gain on settlement of note payable, licensed technology, and sales-type lease
-	-	-	-	-	-	-	-	-	-	-	-	-	0	891	150	869	-	-	-	-	-	-	-	-
Other non-cash items, net
0	-59	223	399	75	99	-2	29	163	72	-73	54	455	-26	27	-516	550	-485	82	731	-43	-14	13	14	26
Changes in operating assets and liabilities:
Receivables and related party receivables
-2,988	-	1,359	-2,199	-1,845	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables, net
-	-	-	-	-	-	-	-	223	284	-269	116	-6,874	-3,376	3,050	1,639	-1,012	-782	46	-7,681	56	939	5,302	-2,562	-28
Related party receivables
-	-	-	-	-	-	-	-	-17	-	-	-	-	557	932	-349	-1,124	-273	526	202	24	-118	947	-280	260
Prepaid expenses and other assets
-226	1,760	487	33	-80	-40	422	560	-185	-162	60	38	415	-364	-25	-310	-496	-1,027	674	152	308	1,065	-670	664	818
Costs incurred on uncompleted contracts
-	-	-	-	-	0	0	0	15,945	-33	1,447	21,751	3,883	1,048	11,374	2,588	14,613	-	-	-	-2,231	-	-	-	-
Inventories, net
-1,572	-939	-772	-532	-3,262	-237	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax assets, net
-	-	-	-	-	-	720	1,833	-1,587	-12,122	-2,980	-2,720	-5,386	0	0	0	0	-	-	-	-	-	-	-	-
Costs incurred on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,794	16,606	15,075
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-313	1,525
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Other long-term assets, net
89	219	1,513	-1,472	2	753	0	0	0	-807	-1	-38	805	0	-3,591	1,526	1,104	-61	87	-25	-206	-34	183	30	-132
Accounts payable
-1,477	1,208	1,768	31	-789	143	-663	26	297	-317	-300	414	-717	-417	-927	-2,660	-250	-2,754	-1,299	2,829	-116	-674	775	703	1,524
Accrued payroll and related liabilities
-973	-869	443	-329	-4,500	-646	435	893	-741	87	162	150	-1,137	-642	-649	-1,152	-444	-1,263	-490	1,782	-131	520	849	1,478	-2,161
Other current liabilities
-23	17	-1,140	-1,292	2,154	1,105	-469	-2,143	638	-669	310	-1,008	-219	-1,011	-1,993	970	-1,071	-2,436	276	1,725	-377	257	282	501	-1,712
Billings on uncompleted contracts
-	-	-	-	-	0	0	0	15,945	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	24,066	4,605	-197	11,559	3,889	17,021	7,930	-2,164	5,743	3,677	-15,885	-12,033	-11,484	-16,219
Operating lease liabilities
634	-	872	759	804	-	0	0	0	-	-	-	-	-	-	-	396	958	1,090	769	727	718	757	283	377
Other long-term liabilities
-22	271	-67	-61	-401	-25	-22	-91	-44	7	-17	21	143	792	-1,013	-2,196	242	497	79	84	-65	-19	38	-39	164
Legal settlements and accruals
-	-	-	-	-	-	-	-	-	-4,482	-921	-1,559	-9,126	-5,665	-1,313	3,995	-1,228	-1,194	-1,056	-728	-744	-708	-518	-3,056	-340
Distributions from equity method investees, return on investment
17,116	17,082	18,718	18,600	19,488	1,500	1,300	300	2,400	963	800	1,375	1,500	1,050	950	1,000	4,900	2,500	2,500	19	0	1,250	0	9	1,250
Net cash provided by operating activities
13,237	14,664	17,026	14,554	16,018	-5,578	-864	-3,586	139	-2,668	-2,933	-3,327	-2,820	-2,762	-6,650	-6,987	-1,858	-16,229	148	-5,580	-8,208	-9,330	-11,903	-10,547	-8,381
Cash flows from investing activities
Proceeds from Equity Method Investment, Distribution, Return of Capital
-	-	-	-	-	13,600	8,075	14,450	11,050	15,512	11,050	9,138	13,175	13,600	9,775	14,875	0	3,921	0	4,630	100	21,037	6,226	9,733	6,588
Acquisition of business
0	0	0	0	661	62,501	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of property, plant, equipment, and intangible assets, net
1,289	1,421	2,633	2,710	1,087	276	60	57	74	85	96	105	142	-	-	-	-	-	-	-	-	-	-	-	-
Mine development costs
447	2,643	1,562	197	324	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturity of investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Maturity of investment securities, restricted
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	336	-	-	-	-	-	-	-	-
Purchase of investment securities, restricted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	299	1	-405
Increase in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	900	0	1,200	-	900	-1	344
Acquisition of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	142	36	11	100	70	57	269	111	345	337	365	516
Proceeds from sale of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Contributions to equity method investees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	500	500	0	0	0
Acquisition of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2,124	-	0	0	0
Contributions to equity method investee
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	223	1,045	853	-238	468	1,499	1,353	127	3,652
Proceeds from sale of equity method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,773	0	0	0	0	-	-	-	-
Net cash used in investing activities
-1,736	-4,064	-4,195	-2,907	-2,072	-49,177	8,015	13,643	10,976	15,427	10,893	9,033	13,033	13,510	9,739	14,864	1,786	5,848	-1,810	4,599	-4,303	17,185	3,741	9,241	2,481
Cash flows from financing activities
Borrowings on Line of Credit
-	-	-	-	-	-	-	-	-	-	0	0	808	0	0	0	0	-	-	-	-	-	-	-	-
Repayments on Line of Credit
-	-	-	-	-	-	-	-	-	-	0	0	808	14,496	0	0	0	3,234	0	0	0	-	-	-	-
Principal payments on term loan
6,000	6,000	8,000	10,000	6,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance lease obligations
340	338	335	337	344	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments on notes payable, related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	11,500	2,996	-	152	297	717	238	0	0	0
Debt issuance costs paid
-	-	-	-	-	-	-	-	-	-	-	-	-	172	0	228	579	0	0	0	0	-	-	-	-
Dividends paid
4,518	4,545	4,550	4,608	4,571	4,939	5,010	5,074	5,142	5,232	10,458	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common shares
159	2,867	95	2,138	693	14,174	2,058	7,469	1,642	3,373	51	12,973	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common shares to satisfy tax withholdings
376	-	-	-	245	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds received upon exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	243
Repurchase of common shares to satisfy tax withholdings
-	-	-	-	-	-	-348	-92	-267	-48	-1	-338	-179	-4	-107	-1	-84	0	-14	-47	-215	-202	-1,294	-4	0
Net cash used in financing activities
-11,393	-13,675	-13,096	-17,092	-11,853	46,613	-7,416	-12,635	-7,051	-8,889	-10,510	-13,311	-179	-176	-107	-11,729	-3,659	11,471	-166	-344	-932	-510	-1,294	-4	243
Increase in Cash and Cash Equivalents and Restricted Cash
108	-3,075	-265	-5,445	2,093	-8,142	-265	-2,578	4,064	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash
-	-	-	-	-	-	-	-	-	3,870	-2,550	-7,605	10,034	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in Cash and Cash Equivalents and Restricted Cash
-	-	-	-	-	-	-	-	-	3,870	-2,550	-7,605	10,034	10,572	2,982	-3,852	-3,731	-	-	-	-	-	-	-	-
Supplemental disclosure of cash flow information:
Issuance of common stock to settle liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	127
Decrease in Cash and Cash Equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,828	-1,325	-13,443	-	-9,456	-1,310	-5,657
Cash paid for interest
-	-	-	-	-	-	-	-	-	-	600	1,600	191	748	1,463	407	1,029	939	2,342	1,394	1,599	3,284	-169	426	1,660
Cash paid (refunded) for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	-89	-	-	-	-	-	-	-	-
Cash paid for income taxes
-	-	-	-	-	-	-	-	-	-	321	739	100	-	-	-	-	-	-	-	-	460	11	6	89
Supplemental disclosure of non-cash investing and financing activities:
Cash paid (refunded) for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44	-	-	-	-
Settlement of RCM6 note payable
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	13,234	0	0	0	0	-	-	-	-
Non-cash reduction of equity method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Stock award reclassification (liability to equity)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	501
Acquisition of property, plant and equipment through accounts payable
1,890	-	-	1,561	0	-	-	-	-	-	-	-	-	-	0	0	11,156	-	-	-	-	0	0	0	13,301