Air T, Inc. AIRT Cash Flow

Air t, inc. (AIRT)

CashFlow / Quarterly

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	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)
360	6,001	4,155	3,661	-2,318	-1,426	3,282	1,462	-714	478	1,229	300	1,665	1,079	-7,989	-1,746	2,446	3,793	-736	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,818	72	417	454	456	138	392	632	227	417	10	578	592	168	694	598	546	298
Adjustments to reconcile net income to net cash provided by operating activities:
Change in accounts receivable reserves
-	-	180	-	-	-	45	174	-21	2	20	1,215	1,074	-2,569	86	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
992	1,614	2,033	2,462	2,147	1,581	1,495	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred Income Tax Expense (Benefit), Total
-	-	-	-	-	-	-	-	-	-	-	-659	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-158	0	0	163
Bargain purchase acquisition gain
0	14	34	-0	0	0	1,983	0	0	0	501	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	73	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of investment
1,095	395	814	-	2,000	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on sale of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2	-1	-2	1	-	-	-	-	-	-	-	-
(Gain) Loss on sale of marketable securities
-	-	36	-	-	-	-10	-	-	-	0	-6	9	429	143	56	-6	0	0	0	0	0	8	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of property and equipment
-	-	-2	-	-	-	-1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale of property and equipment
-	-	-	-	-	-	-	-	-	-	1	-11	-13	0	0	-44	56	-10	5	-185	780	86	187	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit from sale of assets on lease
-	-	4	-	-	-	-91	1,781	94	-430	405	-	-	-	-2,434	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in accounts receivable and inventory reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-305	-95	-71	9	-125	29	-128	-146	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, amortization and impairment
-	-	-	-	-	-	-	-	-	529	398	426	411	353	1,989	589	296	192	178	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in accounts receivable and inventory reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55	-54	-31	-19	6	35	-83	66	-190	-10	-20	-15	-215	55	5	19
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	222	216	212	214	181	144	153	136	118	124	172	74	62	53	639	-86	-90	-96
Change in cash surrender value of life insurance
-	-	-20	-	-	-	15	-13	97	6	14	-13	152	-6	18	-10	105	-5	20	-14	112	-11	17	55	34	0	17	46	17	17	17	40	17	17	17	145	-17	-17	-17
Gain on settlement of bankruptcy
0	17	4,509	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in warranty reserve
-	-	335	-	-	-	-0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on marketable securities
-	-	-6	-	-	-	-322	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in warranty reserve
-	-	-	-	-	-	-	69	52	-26	27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Warranty reserve
-	-	-	-	-	-	-	-	-	-	-	-	-38	-67	39	233	-10	-60	-22	66	-48	192	-41	116	146	57	37	30	54	57	42	127	161	168	31	94	61	27	5
Compensation expense related to stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3	5	5	5	6	5	6	6	1	0	0	0	0	1	-	-	-	-
Other-than-temporary impairment loss on investments
-	-	-	-	-	-	-	0	788	0	771	1,253	0	0	1,502	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net
-	-	0	-	-	-	97	132	-199	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in operating assets and liabilities:
Accounts receivable
-2,623	3,076	4,254	936	-829	1,882	-29	-1,733	-3,248	-834	1,071	4,173	-7,012	9,480	-1,117	-2,046	-4,750	7,552	774	-3,787	-3,361	6,894	-386	255	-3,077	2,084	-619	3,142	194	-2,170	1,525	-1,922	-1,267	5,529	-5,009	11,316	-1,578	-3,810	114
Notes receivable and other non-trade receivables
-	937	2,046	-	-	904	2,221	-586	-898	656	-811	930	-890	1,154	406	-257	248	146	-257	-396	-32	-168	-275	1,464	-23	-169	113	256	3	-18	-194	24	-6	-86	-42	-313	42	96	100
Inventories
13,757	-3,516	-2,374	-9,721	10,314	1,196	-11,319	10,981	676	-6,796	1,896	-723	2,484	380	5,704	1,261	-3,595	-516	3,729	813	-935	-6,242	2,603	-407	-1,340	2,577	3,192	-3,546	-479	672	-1,237	3,212	-1,158	-410	1,615	10,574	-2,258	-1,400	-2,216
Prepaid expense and other assets
-	-	-677	-	-	-	-288	-185	342	-108	-380	580	36	47	-534	502	34	96	-211	66	-4	121	-331	-116	-533	990	-92	94	70	-106	-197	100	151	342	-228	219	-119	-281	239
Accounts payable
-1,435	386	2,801	4,728	-3,587	-818	3,942	3,958	-2,423	1,176	-1,047	2,531	-1,389	1,139	1,864	1,171	-3,582	2,378	639	-1,682	769	-797	0	223	-1,438	43	1,856	-67	1,687	-681	-1,196	712	-1,273	2,801	-2,340	7,980	-2,498	-1,022	-982
Accrued expenses
367	-3,159	3,898	1,024	-1,220	4,215	-1,982	-904	-341	1,009	-1,206	1,935	-1,114	53	744	1,064	211	-137	78	-273	1,006	87	-52	-590	834	-234	105	-518	850	-466	102	-519	610	-333	-78	-514	-577	247	395
Income taxes payable/ receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	632	-288	130	64
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	729	1,737	-	-	5,343	680	650	-3,216	-892	766	760	-2,099	2,749	-812	12,962	-366	-4,642	-1,298
Income taxes payable/receivable
-	-	835	-	-	-	-205	-865	-48	1,007	-355	-1,180	476	-30	428	1,422	200	-1,700	602	691	-479	-756	-21	-	-	-53	236	281	-321	-173	-141	283	-166	77	519	-	-	-	-
Non-current liabilities
-	-	94	-	-	-	75	-	39	78	47	54	-137	-235	-207	12	-34	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total adjustments
-	-2,087	1,231	-	-	778	11,434	-10,040	1,978	8,702	-3,374	2,818	1,415	-10,074	3,231	1,972	4,523	-3,260	-3,778	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by operating activities - continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	226	6,969	533	-4,514	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by operating activities
-10,294	-4,784	5,387	19,734	-13,669	154	14,716	-8,578	1,264	9,180	-2,144	3,118	3,080	-8,995	-4,757	-	-	-	-	-	-	1,088	-1,665	-	-	-4,887	-541	8,981	-3,848	-1,120	349	749	-2,677	2,156	-980	347	231	-4,096	-999
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities
916	159	27	-0	0	1,229	784	1,511	272	704	30	213	-0	1,580	924	1,202	1,414	793	1,070	418	135	3,864	108	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sale of marketable securities
-	-	309	-	-	-	0	-	-	-	-	221	526	4,038	1,215	171	54	0	0	0	3	53	458	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of businesses, net of cash acquired
0	0	500	-0	0	50	3,325	-500	0	0	2,900	0	540	4,033	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash used for equity method investments
-	-	0	-	-	-	197	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-51	-	-	-	-
Investment in funds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9
Investment in reinsurance entity
-	0	0	-	-	0	2,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures related to property & equipment
442	277	297	422	134	303	459	463	-6,603	7,769	489	828	606	391	519	195	537	293	219	-974	221	1,278	275	1,015	123	46	97	82	71	90	130	252	144	210	395	82	89	46	37
Capital expenditures related to assets on lease
22,271	14,315	3,298	-0	1	19,149	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property and equipment
-	-	33	-	-	-	50	1	0	0	1	0	-4	10	0	14	166	0	19	0	2,534	274	548	-	-	-	-	0	4	0	3	-	-	-	-	-	-	-	-
Increase (Decrease) in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	0	3	-	-	0	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities - continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,255	-1,649	-1,087	-1,274	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
-9,331	5,713	-3,780	-257	4,830	-20,859	-6,716	-8,421	-6,722	-8,473	-3,418	-890	-621	-1,956	-232	-	-	-	-	-	-	-4,814	623	-2,474	-84	-46	-97	-82	-67	-90	-126	-244	-106	-210	-344	34	1,126	956	-47
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from lines of credit
84,801	23,820	24,446	20,991	35,369	22,217	28,933	28,584	38,498	31,448	17,002	15,812	12,094	28,320	12,047	-176	181	14,291	0	5,000	0	467	863	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on lines of credit
65,560	18,180	17,143	26,368	25,211	20,198	38,156	30,359	42,199	32,097	14,520	15,702	14,496	10,879	8,727	11	1,381	17,890	18	0	1,330	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from term loan
14,448	13,001	0	5,186	825	18,314	3,400	17,600	18,441	0	2,400	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on term loan
18,287	10,873	7,026	8,943	3,597	1,785	1,404	2,380	1,636	600	200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	46	-	-	-	35	248	156	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distribution to non-controlling member
-	-	115	-	-	-	47	-	1,100	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of cash dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	733	0	0	0	611	0	0	0	611	0	0	0	802
Payments for repurchase of stock
-	-	126	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds received from exercise of warrants
634	3,388	2,018	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,848	-4,224	-3,599	-18	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	17	65	47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment on capital leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1	3	3	3	3	3	3
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	124	-	-	-	-
Net cash provided by financing activities - continuing operations
13,837	10,318	2,008	-10,375	6,664	20,567	-7,309	13,203	12,099	-1,248	4,682	-1,052	-3,054	9,160	3,634	-	-	-	-	-	-	402	815	-171	-2,058	783	-733	0	0	0	-611	-52	-1	-3	-490	-3	-3	-3	-805
Effect of foreign currency exchange rates on cash and cash equivalents
-36	23	2	-	109	2	2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of foreign currency exchange rates on cash and cash equivalents
-	-	-	-	-	-	-	-6	-14	11	6	-33	25	12	-19	14	-12	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCREASE/ (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
-5,824	11,271	3,617	9,082	-2,066	-134	692	-3,802	6,626	-529	-874	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash capital expenditures related to property & equipment
-	-	71	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment leased to customers transferred to inventory
-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
-	-	-	-	-	-	-	-	-	-	-	1,141	-569	-1,778	-1,375	834	1,082	-4,152	-5,807	4,822	8,607	-3,323	-225	-3,113	3,199	-4,150	-1,373	-340	3,781	1,029	-1,087	-1,046	2,569	-2,370	145	379	1,354	-3,143	-1,852
Finished goods inventory transferred to equipment leased to customers
-	-	-	-	-	-	-	-	-	-	-	-48	0	0	321	0	144	1,143	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-56	-82	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment leased to customers transferred to inventory
-	9,891	8,818	-	-	-0	234	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of Debt - Trust Preferred Securities
-	0	4,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of warrant liability
-	0	-840	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Exercise of warrants
-	-	84	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest
-	-	678	-	-	-	629	374	308	222	160	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-9	11	24	20	-0	2	13	2	-	-	-	-	5	0	0	16	0	-0	1	0	0	1	0	0
Income taxes
-	-	29	-	-	-	181	201	144	1,294	18	64	628	344	56	860	1,699	-2	269	496	-563	787	17	-4	186	248	325	593	36	-47	93	15	46	413	614	1	51	438	397