ALEXANDER & BALDWIN, INC. ALEX Cash Flow

Alexander & baldwin, inc. (ALEX)

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	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Cash Flows from Operating Activities:
Net income (loss)
5,600	5,000	-50,900	-1,200	8,700	-135,800	15,600	3,000	47,400	212,100	6,600	4,800	7,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:
Depreciation and amortization
13,600	13,900	13,200	12,500	10,900	11,200	10,300	11,100	10,200	10,000	10,400	10,500	10,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,600
Deferred income taxes
-	-	-	-	-	19,000	300	0	-2,700	-218,100	19,000	-700	800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on asset transactions, net
500	0	100	-100	2,600	-8,100	11,400	700	50,000	12,900	10,100	4,200	7,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense
1,500	1,300	1,400	1,300	1,400	700	1,300	1,400	1,300	1,000	1,200	1,100	1,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Income) loss from affiliates, net of distributions of income
2,900	-2,100	2,100	600	800	-10,900	1,200	1,600	-4,800	-2,300	2,600	2,000	-7,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Trade, contracts retention, and other contract receivables
-7,000	-15,400	-4,100	0	11,000	-700	-6,800	9,600	2,100	-1,800	-2,100	10,500	-4,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings on uncompleted contracts - net
-	-	-	-	-	-	-	-	-	-	-	-	2,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
0	-3,100	-4,300	-800	2,500	-5,800	3,500	-900	-2,300	1,800	-4,000	6,000	-15,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses, income tax receivable and other assets
-2,400	-2,700	5,600	-35,900	4,500	9,100	5,600	-2,900	1,400	3,200	16,100	900	2,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Development/other property inventory
3,200	-	-	-	-27,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued pension and post-retirement benefits
600	0	1,500	1,500	1,600	1,100	-2,500	3,900	1,100	600	-49,600	1,300	300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-3,500	-2,600	100	-5,600	-4,800	-700	-5,600	6,000	-8,700	6,300	600	-400	-3,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued and other liabilities
-1,700	-3,400	8,000	-2,500	1,100	81,500	6,100	-4,800	-8,600	-1,900	-1,600	1,600	-38,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate development for sale proceeds, net of margins recognized in net income (loss)
-	-	-	-	-	-99,400	6,900	56,200	-22,100	-31,100	-13,600	-600	-2,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expenditures for real estate development for sale
-	-	-	-	-	-	-	-	-7,200	-5,800	-5,500	-4,600	-4,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) operations
18,900	53,600	22,900	56,500	24,600	272,200	10,900	18,300	8,500	43,900	-28,600	-6,000	-10,600	62,800	18,600	24,300	5,500	13,800	45,900	42,600	26,800	37,100	23,900	8,800	-29,400	71,100	-92,600	8,400	-25,200	23,700	11,500	2,600	-26,900
Cash Flows from Investing Activities:
Capital expenditures for acquisitions
0	0	0	176,000	42,400	40,100	6,900	0	194,700	0	0	10,100	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures for property, plant and equipment
6,200	4,900	4,400	10,800	16,600	14,400	14,700	12,600	12,700	8,800	10,300	7,200	6,100	-71,600	5,500	7,700	92,100	9,800	14,500	11,800	8,600	32,900	7,600	11,200	8,500	-70,400	89,800	6,600	6,500	11,000	22,000	7,500	4,900
Capital expenditures related to 1031 commercial property transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-100	6,300	-	0	1,300	0	-	-	-	-	447,500	0	15,500	9,800	-	-	-	-
Proceeds from investment tax credits and grants related to Port Allen Solar Farm
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,000	3,500	2,400	0	0	0	-	-	-	-
Proceeds from disposal of property, investments and other assets
5,900	1,400	0	300	2,700	2,400	14,000	-100	155,400	30,500	100	8,600	8,000	77,400	9,500	1,900	0	43,000	0	0	5,100	1,000	300	7,800	400	-1,100	0	2,200	100	1,400	0	0	800
Payments for purchases of investments in affiliates and other investments
0	0	0	800	2,500	1,300	5,500	6,600	9,200	10,400	7,600	9,400	14,500	11,200	9,600	21,000	5,400	6,900	4,400	7,000	11,100	37,200	28,900	4,000	5,000	7,500	7,900	23,300	4,700	9,500	700	400	6,900
Distributions of capital from investments in affiliates and other investments
3,200	1,400	1,600	4,000	6,600	9,500	12,500	15,200	5,100	29,400	1,900	1,400	600	35,300	3,000	2,700	300	6,800	400	3,800	33,400	21,800	8,200	5,700	500	1,800	1,200	1,500	600	1,100	1,700	0	100
Proceeds from disposals related to 1031 commercial property transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	59,300	0	-	0	20,600	4,600	-800	14,700	2,300	69,400	313,300	2,000	800	14,700	-	-	-	-
Change in restricted cash associated with 1031 transactions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-9,900	-6,300	-	0	2,700	0	-15,800	14,700	-2,300	2,800	4,600	2,000	-14,700	4,900	-	-	-	-
Net cash provided by (used in) investing activities
2,900	-2,100	-2,800	-183,300	-52,200	-43,900	-600	-4,100	-56,100	40,700	-15,900	-16,700	-12,000	21,400	-2,600	45,200	-97,200	11,900	-18,500	1,600	23,400	-61,400	-28,000	3,900	57,500	-78,800	-96,200	-26,200	-10,500	-10,300	-21,000	-7,900	-10,900
Cash Flows from Financing Activities:
Proceeds from issuance of notes payable and other debt
108,000	14,100	57,900	12,500	41,400	14,900	29,400	0	504,100	147,000	62,000	26,500	57,000	50,000	90,000	10,000	122,000	61,000	20,000	31,000	20,000	157,000	53,000	28,000	45,000	157,000	349,000	44,000	35,000	12,000	28,000	50,000	44,000
Payments of notes payable and other debt and deferred financing costs
44,200	48,600	46,100	60,000	49,200	34,200	42,500	35,400	355,700	134,600	11,300	16,100	19,000	143,200	96,800	71,700	22,600	66,000	45,200	68,400	68,500	137,700	43,100	32,400	11,000	183,500	166,400	25,200	5,200	26,100	30,200	187,800	13,100
Borrowings (payments) on line-of-credit agreement, net
51,400	-5,400	1,100	400	3,600	-9,500	-700	12,600	2,300	-7,200	-1,600	4,500	6,900	1,900	-6,900	-2,000	-2,900	-2,600	2,100	-5,800	3,300	2,200	-800	-5,700	-58,000	38,100	11,300	-2,300	4,500	-2,500	2,000	-9,400	3,900
Contributions from Alexander & Baldwin Holdings, Inc.(a)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,700	-300	146,000	300
Distribution to noncontrolling interests
-	-	-	-	-	-	-	-	-	300	0	0	200	900	0	0	500	0	0	0	1,100	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid
13,800	13,800	13,800	11,900	10,500	0	0	0	156,600	0	3,400	3,500	3,400	3,500	2,900	3,000	2,900	2,900	2,500	2,400	2,500	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance (repurchase) of capital stock and other, net
-900	2,000	-2,100	2,800	-1,700	2,800	-2,700	-100	1,500	3,100	100	8,000	-4,000	300	0	100	800	-600	0	300	-800	-1,000	0	100	0	-1,600	-1,700	800	1,500	200	11,600	0	0
Dividends paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,900	2,000	0	0	0	-	-	-	-
Net cash provided by (used in) financing activities
100,500	-43,500	-18,400	-58,400	-16,400	-1,100	-12,300	-48,100	-12,000	1,800	45,600	11,400	37,300	-95,400	-16,600	-66,600	93,900	-11,100	-25,600	-45,300	-49,600	17,900	7,100	-12,000	-25,900	6,900	192,200	17,300	35,800	-16,400	11,100	-1,200	35,100
Cash, Cash Equivalents and Restricted Cash
Net increase (decrease) in cash, cash equivalents and restricted cash
122,300	8,000	1,700	-185,200	-44,000	227,200	-2,000	-33,900	-59,600	86,400	1,100	-11,300	14,700	-11,200	-600	2,900	2,200	14,600	1,800	-1,100	600	-6,400	3,000	700	2,200	-800	3,400	-500	100	-3,000	1,600	-6,500	-2,700
Other Cash Flow Information:
Interest paid, net of capitalized interest
7,000	7,300	9,900	6,900	8,400	8,300	9,100	7,600	9,400	9,800	6,600	-100	8,600	4,100	8,100	5,400	8,600	4,000	9,000	4,600	9,700	5,100	9,900	5,000	9,800	5,000	6,000	900	7,200	3,000	2,700	3,800	5,400
Income tax (payments)/refunds, net
-500	0	0	-23,200	-2,600	-700	-1,900	0	0	0	400	3,300	300	0	0	0	0	-	-	-	-	1,600	1,600	7,500	3,500	2,000	4,800	4,400	800	-4,300	5,300	-500	1,500
Noncash Investing and Financing Activities:
Notes payable assumed in connection with acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Capital expenditures included in accounts payable and accrued and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,300	-1,100	4,500	-	-1,100	600	4,200	5,700	-3,100	1,900	1,200	-1,100	300	900	6,500	6,600	-2,900	-1,000	9,500
Capital expenditures included in accounts payable and accrued and other liabilities
2,600	-	-500	1,900	1,200	-	600	200	1,200	-	900	800	1,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of shares for stock dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	19,700	-	-	-	-
Fair value of loan assumed in connection with acquisition
-	-	-	-	-	0	0	0	61,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Uncollected proceeds from disposal of equipment
-	-	-	-	-	-	-	-	-	0	-200	-2,300	4,400	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax-deferred property sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,200	100	8,900
Tax-deferred property purchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	9,400	0
Right-of-use ("ROU") assets and corresponding lease liability recorded upon ASC 842 adoption
0	0	0	0	31,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of shares for stock dividend
-	-	-	-	-	0	0	0	626,400	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-