Aar corp. (AIR)
CashFlow / Quarterly
Feb'20Nov'19Aug'19May'19Feb'19Nov'18Aug'18May'18Feb'18Nov'17Aug'17May'17Feb'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11Nov'10Aug'10May'10Feb'10Nov'09Aug'09
Cash flows provided from (used in) operating activities:
Net income (loss)

2,300

14,200

4,400

22,800

-37,400

7,000

15,100

12,000

15,600

-22,600

10,600

21,200

13,700

12,100

9,500

12,000

4,800

8,000

22,900

15,100

-34,400

15,200

14,500

17,200

18,000

20,000

18,000

800

18,500

17,900

18,300

13,000

20,800

17,600

16,600

21,394

17,918

16,814

13,674

11,066

9,785

13,193

9,158

Less: Loss from discontinued operations

-300

-5,900

-12,700

-3,800

-64,800

-4,200

-3,800

-6,100

-15,800

-35,800

-400

4,900

0

0

-400

-7,000

-5,100

-1,200

15,500

-

-

-

2,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations

2,600

20,100

17,100

26,600

27,400

11,200

18,900

18,100

31,400

13,200

11,000

16,300

13,700

12,100

9,900

19,000

9,900

9,200

7,400

-

-

-

11,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to reconcile income from continuing operations to net cash provided from (used in) operating activities:
Depreciation and intangible amortization

11,000

11,000

10,800

11,500

10,800

10,400

10,100

9,100

10,600

10,600

10,200

9,500

1,900

11,900

12,400

-4,600

12,100

12,500

13,200

16,600

6,500

21,700

13,200

5,500

20,000

19,900

19,300

19,300

19,800

20,300

20,300

20,400

18,900

16,900

15,800

16,137

14,359

14,437

14,367

12,321

9,131

8,781

8,697

Amortization of stock-based compensation

3,200

2,800

4,300

4,700

3,600

1,200

4,000

6,600

3,400

2,700

2,600

3,400

2,700

2,400

2,500

300

2,300

1,900

2,000

900

2,400

2,100

2,000

2,300

2,300

2,400

1,600

3,100

3,200

1,900

2,900

2,600

3,800

3,500

2,600

2,833

3,639

3,205

2,623

-

-

-

-

Provision for doubtful accounts

1,900

700

700

2,100

700

12,400

600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

600

700

700

-

1,600

1,500

1,500

1,500

2,400

2,800

2,900

3,300

3,400

3,300

3,200

3,150

3,099

3,040

3,011

2,890

2,944

2,888

2,867

Amortization of overhaul costs

-

-

-

-

-

-

-

-

-

-

-

-

-

6,100

4,500

-

6,400

5,200

4,700

8,500

4,500

4,000

6,200

6,900

8,600

8,800

8,700

8,300

7,900

6,800

5,900

3,400

2,700

1,300

900

-

-

-

-

-

-

-

-

Deferred tax provision

600

-500

1,400

5,200

-11,600

-500

1,900

11,200

-2,000

-22,300

200

14,200

0

-800

-900

-2,000

9,500

2,000

-4,000

-45,500

-15,700

7,400

1,200

14,300

-4,400

5,000

4,100

6,500

13,300

4,100

5,600

17,300

9,900

2,800

2,800

26,560

9,785

1,203

1,352

1,697

106

-57

-5,609

Gain on asset disposal

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,600

-

-

-

1,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax benefits from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

800

-

131

14

1

594

0

34

189

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-200

-

-

-

-

3

0

0

97

-20

0

0

913

Loss (Earnings) from joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

400

700

600

-

600

800

1,200

1,000

3,200

1,200

1,400

900

100

300

200

687

56

2,529

28

-38

56

11

83

Changes in certain assets and liabilities:
Accounts receivable

23,600

10,400

600

-38,900

21,200

30,800

21,300

-600

-48,700

0

13,900

-9,900

-3,000

39,400

-9,700

-21,800

1,500

-17,500

40,000

-18,700

-16,300

22,100

19,400

-31,200

-10,700

32,800

-12,000

-4,500

17,700

1,500

-20,700

-26,200

-9,600

-9,500

9,000

-11,142

41,951

11,332

2,859

-11,767

8,012

-5,702

-24,469

Contract assets

2,600

100

2,700

4,500

-8,200

14,300

-900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

41,200

26,800

30,000

9,100

19,700

27,600

24,500

-10,900

14,600

28,800

-6,700

7,700

9,600

9,000

-3,000

-19,000

13,900

2,500

22,100

-29,100

10,300

41,300

6,700

-11,000

32,500

-10,800

15,300

-37,600

700

16,500

4,300

-9,400

-3,200

23,400

36,800

-1,981

-1,970

8,469

8,482

-3,416

-8,632

-3,921

-3,046

Rotable spares and equipment on or available for short-term lease

-200

6,700

-2,800

-2,900

-12,000

-300

-6,300

19,100

-2,800

-1,400

1,700

-5,200

13,400

-5,800

700

-11,100

3,400

4,200

700

-11,200

2,200

2,600

-200

-5,300

1,300

-700

-6,600

-5,400

100

-6,600

1,500

4,200

-9,400

-8,700

8,300

9,995

679

-4,350

15,276

-2,828

-916

-7,618

-7,795

Rotable assets supporting long-term programs

4,600

5,300

13,800

11,000

11,500

18,800

7,900

2,800

7,300

16,600

11,800

6,800

27,800

30,600

17,300

2,500

2,600

900

4,200

-27,500

7,900

6,300

7,100

31,600

8,600

-400

1,900

0

500

0

-1,300

1,000

6,600

-4,600

-19,500

-1,237

-2,192

2,205

-2,076

1,018

-3,739

1,184

-2,407

Accounts payable

64,600

17,700

24,800

-30,200

12,300

25,300

10,100

-6,700

-7,400

16,400

-500

-18,600

21,500

25,100

-8,400

-6,000

9,200

2,000

8,600

-23,500

-11,300

6,600

31,200

16,400

15,500

-4,500

-1,400

-26,600

4,800

-3,300

-25,600

8,900

-11,500

15,900

5,000

5,648

28,238

-407

15,221

5,315

11,806

-12,226

-6,369

Accrued and other liabilities

8,300

1,900

-19,800

20,100

32,500

4,900

-34,600

20,000

-5,600

22,300

-28,700

16,800

-17,600

13,100

-5,800

1,800

-19,800

11,800

-24,900

40,000

16,200

3,400

-13,200

23,100

-2,700

13,400

-29,000

700

8,900

5,600

-3,400

-5,600

-7,500

-2,700

-5,100

16,405

-3,538

2,430

-7,097

15,611

264

-2,002

-14,249

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

87

Other

36,500

-15,500

25,100

-38,800

37,800

-18,000

-2,600

7,800

9,700

3,100

5,000

20,000

1,300

-3,500

6,800

-17,200

7,100

5,100

3,300

-7,100

11,400

-6,900

2,700

-1,100

18,500

8,800

-4,500

-14,700

29,100

16,200

8,700

21,200

42,600

28,100

31,800

46,650

4,755

-2,071

11,266

9,187

6,886

6,492

-3,008

Net cash provided from (used in) operating activities - continuing operations

9,700

19,900

-30,100

44,100

57,600

-8,300

-32,900

40,200

50,400

-3,900

-30,900

24,300

-37,500

200

-500

58,800

1,100

50,500

-64,400

-

-

-

16,800

-

-

-

-

-

-

-

-

-

-

-

-25,600

-

-

-

-

-

-

-

-

Net cash provided from (used in) operating activities - discontinued operations

-700

-5,400

-2,300

-1,200

2,400

-200

5,900

-8,800

-7,600

14,600

10,300

8,700

27,500

-300

-600

-12,800

900

-2,700

700

-

-

-

-1,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided from (used in) operating activities

9,000

14,500

-32,400

42,900

60,000

-8,500

-27,000

31,400

42,800

10,700

-20,600

33,000

-10,000

-100

-1,100

46,000

2,000

47,800

-63,700

-52,000

-22,000

16,000

15,000

63,100

10,400

38,800

27,500

75,100

27,500

27,100

33,200

-

-

-

-

48,698

30,090

22,594

7,218

-

36,511

24,014

34,122

Cash flows used in investing activities:
Property, plant and equipment expenditures

8,100

5,700

4,500

5,100

4,300

3,800

4,200

3,600

4,800

7,900

5,700

5,100

1,200

9,500

9,400

-34,500

43,800

15,800

15,000

22,200

2,800

9,300

7,800

-400

6,900

7,100

7,200

13,700

4,800

8,100

11,000

28,500

7,500

13,400

41,800

42,546

22,424

22,884

37,046

8,106

5,749

6,057

8,943

Proceeds from aircraft joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,258

348

4,096

598

7

0

0

37

Proceeds from asset disposals

-

-

-

-

-

-

-

-

-

-

-

600

-12,100

15,000

3,000

-6,400

0

0

6,500

-

-

-

-

-

-

-

-

0

300

500

11,000

-

-

-

-

-

0

6

15

25

30

24

30

Investment in aircraft joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

312

3,276

1,207

41

81

3,645

472

Payments for acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,000

-

-

-

-

4,800

0

0

16,500

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from leveraged leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,220

Other

200

2,500

-1,000

1,900

0

-1,800

500

4,000

-1,000

500

-1,200

-

-

-

-

-

-

-

-

-4,000

-1,000

1,400

100

500

0

500

100

400

0

300

400

600

6,400

-900

500

10,659

60

193

1,188

865

273

318

984

Net cash used in investing activities - continuing operations

-8,300

-8,200

-3,500

-5,200

-4,300

-4,300

-4,700

-6,300

-3,800

-24,000

-4,500

-

-

-

-

-10,500

-29,200

1,900

-6,000

-

-

-

-8,900

-

-

-

-

-

-

-

-

-

-

-

-42,300

-

-

-

-

-

-

-

-

Net cash used in investing activities - discontinued operations

-

-

-

0

-100

-100

-300

400

-400

-1,900

-2,400

-

-

-

-

-400

0

0

27,300

-

-

-

-1,200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-8,300

-8,200

-3,500

-5,200

-4,400

-4,400

-5,000

-5,900

-4,200

-25,900

-6,900

-17,300

-9,100

2,900

-6,600

-10,900

-29,200

1,900

21,300

713,100

-6,600

-7,200

-10,100

-4,400

-23,000

-6,200

-7,300

-18,900

10,900

-7,900

-16,900

-

-

-

-

-35,173

-22,448

-22,251

-38,828

-

-4,989

-9,996

-5,112

Cash flows provided from (used in) financing activities:
Short-term borrowings, net

10,000

-5,000

60,000

-35,000

-42,000

10,000

57,000

-17,000

-21,000

3,000

34,000

-13,000

15,000

12,000

7,000

-25,000

30,000

0

55,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

14,991

-

0

0

103

Proceeds from long-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

174,500

-12,700

0

20,000

-148,300

321,900

13,200

50,000

-

-

-

-

-

-

-

-

Repayments on long-term borrowings

-

-

-

0

0

0

25,000

-

-

-

-

0

5,000

0

5,000

25,700

5,000

9,600

30,300

348,000

7,300

32,200

7,300

70,900

7,600

2,700

7,700

5,000

70,000

11,700

27,600

64,200

9,800

6,400

3,100

45,034

2,984

3,036

7,446

-44,983

20,723

30,713

18,768

Reduction in equity due to convertible bond repurchases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

200

300

-

-

-

-

-36

0

0

236

120

0

0

254

Reduction in capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,500

-

-

-

-

-

-

-

-

-

-

6,200

500

-

453

445

436

433

425

417

540

Cash dividends

2,600

2,600

2,900

2,600

2,600

2,600

2,700

2,600

2,500

2,600

2,600

2,500

2,500

2,600

2,600

2,600

2,600

2,600

2,600

3,000

2,400

3,500

3,000

2,900

2,900

3,000

3,000

2,900

2,800

4,100

3,000

3,000

3,000

3,100

3,000

-

-

-

-

-

-

-

-

Purchase of treasury stock

-

-

-

-

-

-

-

0

7,900

0

5,200

3,200

1,800

0

14,800

1,400

7,300

3,000

7,100

-

-

-

-

-

-

-

-

6,200

-100

2,400

6,100

0

0

2,700

1,000

-39

0

0

2,539

-

-

-

-

Stock compensation activity

4,100

1,300

-4,300

-

100

1,700

6,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock option exercises

-

-

-

-

-

-

-

1,600

900

2,600

6,500

3,200

1,400

3,300

600

-

-

-

-

-

-

0

200

-

0

0

5,200

-

-

-

-

100

0

0

2,900

615

1,038

300

47

683

1,149

142

323

Tax benefits from exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

600

-

0

200

800

-

-

-

-

-

100

0

800

-

131

14

1

594

0

34

189

Other

-

-

-

-

-

-

-

-

-

-

-

500

300

-300

-400

0

0

-1,700

1,300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

231

0

231

Net cash provided from (used in) financing activities - continuing operations

11,500

-11,700

52,800

-46,900

-45,300

9,100

35,800

-18,000

-30,600

27,600

32,700

-

-

-

-

-54,400

15,100

-15,400

16,300

-

-

-

-11,000

-

-

-

-

-

-

-

-

-

-

-

46,100

-

-

-

-

-

-

-

-

Net cash used in financing activities - discontinued operations

-

-

-

0

-700

-200

-500

-400

-500

-400

-400

-

-

-

-

-

-

-

-

-

-

-

-600

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided from (used in) financing activities

11,500

-11,700

52,800

-46,900

-46,000

8,900

35,300

-18,400

-31,100

27,200

32,300

-15,500

6,200

12,400

-15,200

-

-

-

-

-674,800

5,300

3,000

-11,600

-83,900

28,300

-25,600

-4,700

-28,200

-60,200

-18,300

-17,000

-

-

-

-

-10,747

-2,268

-3,167

4,382

-

-19,768

-30,954

-18,716

Effect of exchange rate changes on cash

-

-

-

-100

100

-100

-100

-

-

-

-

0

0

-100

-400

100

-300

-200

100

1,400

-2,300

-1,000

-700

-300

500

600

100

-100

0

600

700

-1,400

400

600

-100

-124

22

-11

13

-30

69

-201

41

Increase in cash and cash equivalents

12,200

-5,300

16,900

-9,300

9,700

-4,100

3,200

7,000

7,500

12,000

4,800

200

-12,900

15,100

-23,300

-19,200

-12,400

34,100

-26,000

-12,300

-25,600

10,800

-7,400

-25,500

16,200

7,600

15,600

-

-

-

-

8,400

31,400

-7,600

-21,900

2,654

5,396

-2,835

-27,215

-38,156

11,823

-17,137

10,335