ANDERSONS, INC. ANDE Cash Flow

Andersons, inc. (ANDE)

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	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Operating activities
Net loss
-51,111	5,667	-5,870	29,411	-14,148	23,668	-1,874	21,413	-1,982	69,744	2,617	-26,717	-3,035	11,310	3,341	15,441	-15,622	-46,716	-950	32,399	3,945	27,967	19,279	49,370	26,029	34,619	18,039	30,732	12,312	14,175	15,191	28,471	17,728	22,171	11,231	46,035	17,388	26,078	368	25,779	12,656
Adjustments to reconcile net income (loss) to cash used in operating activities:
Depreciation and amortization
46,898	47,770	34,250	30,386	33,760	22,337	22,728	22,553	22,679	21,866	21,668	21,875	21,003	22,081	20,865	20,477	20,902	21,091	20,769	19,073	17,523	17,698	15,873	14,578	13,856	13,672	13,451	13,383	14,801	13,647	12,830	12,005	10,495	10,749	10,137	10,067	9,884	10,984	9,116	9,063	9,750
Bad debt expense
4,310	392	1,912	1,385	318	978	401	-306	-531	1,924	237	210	629	402	298	67	424	2,500	318	296	188	985	-112	-67	377	487	90	341	269	11	625	-141	634	-3,145	630	265	2,437	-8,298	152	26	-596
Equity in earnings of affiliates, net of dividends
129	-4,777	-3,928	-431	1,465	4,777	7,198	8,832	2,360	8,326	-1,625	5,724	-1,931	-1,962	-5,623	-148	-7,033	-3,191	1,888	3,384	-1,404	-20,106	4,571	31,847	-45,061	28,467	18,153	4,864	-531	850	467	-849	-8,602	9,922	9,230	5,811	-1,372	9,928	-3,072	931	9,807
Loss (gain) on sales of assets
-	-	-	-	-	1,037	3,839	619	-277	2,958	5,555	1,190	4,698	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sale of facilities and investments in affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	685	-	0	0	0	0	0	0	17,055	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of Rail Group assets and related leases
645	2,607	217	562	736	3,647	1,922	1,709	2,280	3,348	2,658	1,375	3,609	4,653	1,641	2,282	2,443	843	3,225	4,691	4,522	1,164	1,382	2,515	10,769	1,990	2,760	4,917	9,699	1,405	13,586	2,380	6,294	753	631	2,267	4,766	1,406	2,376	1,430	2,559
Stock-based compensation expense
2,880	4,592	4,345	2,493	4,799	1,726	1,892	1,738	1,268	1,547	1,615	1,715	1,220	1,445	1,846	2,223	1,473	-699	610	1,252	736	1,039	1,489	4,591	1,462	2,002	902	667	768	687	428	1,084	1,791	1,313	895	1,072	791	644	580	597	768
Excess tax benefit from share-based payment arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,075	224	36	125	37	1,608	399	324	223	55	-	-	-	-	-	-	-	-	87	23	38	728
Deferred income tax
16,474	16,785	-17,464	11,433	-5,640	11,018	0	0	0	-	-	-	-	-	-	-613	-988	8,358	8,185	14,182	-3,446	12,374	2,239	938	6,264	16,189	1,660	21,720	805	9,610	2,494	7,256	-2,857	3,811	-2,781	5,297	-854	8,660	746	1,872	927
Inventory write down
10,571	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-4,001	97	-2,535	3,426	-4,528	-1,175	2,488	68	70	-555	-1,170	1,055	725	2,063	241	-254	20	2,500	-228	57	-890	-150	-1,922	-136	2,504	138	711	-612	-102	70	168	88	-150	-255	15	7	-21	-330	11	91	13
Changes in operating assets and liabilities:
Accounts receivable
11,737	3,392	-186,796	102,622	79,295	3,935	-13,006	3,129	30,730	-10,115	13,420	-5,523	-7,563	21,004	-38,225	6,176	37,474	-51,061	-36,206	13,843	28,366	11,864	-27,291	-2,260	19,390	-5,978	-36,985	19,332	-11,815	-9,785	-4,755	1,062	35,215	7,047	-81,966	20,158	70,469	-4,532	10,676	-8,771	3,475
Inventories
-122,323	407,198	-10,990	-269,889	-124,741	200,435	-5,280	-236,357	85,262	184,526	12,397	-179,608	-33,456	254,993	-58,790	-180,421	-43,947	219,610	19,381	-260,643	-51,698	390,500	-36,533	-292,588	110,661	185,729	-16,576	-308,297	-23,299	-31,393	85,731	-201,859	25,093	303,076	-11,292	-305,185	127,828	192,352	195,051	-140,281	-32,951
Commodity derivatives
-1,231	8,228	-112,875	73,784	9,149	34,690	16,770	-80,625	45,775	-4,212	11,597	-23,653	-4,017	22,582	-73,035	44,813	15,630	2,062	11,675	-31,531	3,696	155,307	-195,851	-18,646	86,842	-6,559	-50,304	-47,685	34,915	-63,233	32,496	98,067	-70,277	-15,815	-85,200	46,609	-79,903	49,299	180,419	-35,364	-36,171
Other assets
10,887	-11,715	8,638	-16,083	-11,337	-3,163	17,425	-16,418	-1,134	84,659	207	-20,004	9,375	17,129	-924	-34,086	-1,526	24,850	18,638	-21,215	4,042	23,162	10,645	-24,130	1,730	4,663	7,280	-16,551	9,534	8,716	5,835	-1,483	-141	-8,716	18,610	-19,899	11,109	-1,548	14,663	-19,315	10,170
Accounts payable for grain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-408,185	-	63,558	-5,980	-398,656	243,104	120,086	14,744	-276,669	314,092	-2,561	-10,068	-184,154	127,651	54,785	-12,494	-149,239
Payables and other accrued expenses
-362,609	363,008	79,035	-147,106	-191,095	120,107	80,968	-35,935	-235,075	223,645	122,865	-74,521	-277,612	268,167	33,182	-125,741	-270,296	224,133	104,627	-130,280	-318,747	384,200	78,217	-541,928	67,082	3,957	16,293	-128,358	52,174	-7,569	77,241	-113,061	49,303	10,697	-8,733	-17,928	65,672	-13,155	82,547	-57,556	19,820
Net cash used in operating activities
-228,430	28,937	404,472	37,198	-122,045	-64,349	72,759	334,778	-378,707	14,551	105,963	184,006	-229,235	-1,761	235,707	73,492	-267,853	96,361	117,171	227,261	-286,659	-112,345	361,859	239,028	-498,613	208,227	188,630	276,314	-335,983	367,209	95,363	52,917	-187,007	68,250	158,776	284,993	-221,754	-92,646	-251,831	168,710	-63,518
Investing Activities
Acquisition of business, net of cash acquired
0	-47,042	1,929	350	147,343	2,248	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,104	7,803	0	3,345	127,571	-426	77,826	15,286	-	-	-	-	-	-	-	-
Purchases of Rail Group assets
13,270	36,813	25,006	27,562	15,873	58,951	39,967	38,571	29,516	65,507	11,007	41,432	25,074	27,289	30,475	20,164	7,340	2,686	58,590	30,301	23,455	50,773	8,891	16,398	14,005	21,030	14,655	12,658	44,241	8,371	25,825	43,614	33,414	25,722	6,284	21,341	10,814	4,728	4,670	595	8,361
Proceeds from sale of Rail Group assets
2,405	8,908	1,793	5,441	1,948	31,795	6,677	26,392	14,575	18,528	8,978	3,769	5,621	12,628	33,664	5,430	4,967	11,647	38,623	13,504	12,851	1,205	1,699	3,730	25,465	9,612	34,377	17,099	36,144	33,512	41,258	5,851	10,206	10,558	2,066	8,615	9,159	2,628	4,837	6,623	6,014
Purchases of property, plant and equipment and capitalized software
19,307	39,872	38,142	42,481	44,728	55,885	32,394	24,886	29,414	7,897	10,729	10,368	5,608	21,602	21,695	22,138	12,305	30,082	14,173	21,472	6,742	20,051	18,991	15,110	5,523	15,431	12,806	12,355	6,194	17,592	13,511	23,157	15,014	14,556	17,034	8,410	4,162	7,499	8,153	10,386	4,859
Proceeds from sale of assets
36	29,766	56	395	400	5,179	7,326	34,975	6	7,278	12,167	522	13,912	231	69,500	-33	206	100	-269	373	80	358	760	175	108	39	214	69	68	299	92	217	508	99	712	56	64	1,718	132	71	21
Purchase of investments
280	-1,490	250	1,000	240	-	-	-	-	-	-	-	-	-1,743	7,570	-15,035	22	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	0	-6,399	2,500	612	1,817	-4,057	0	2,523	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	19,996	-	-	-	-	-	-	-	-
Investments in affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-1,033	-718	281	-	-798	269	269	-	-761	257	256	256	-723	244	244	243	-707	237	237	238	-5,484	-13,141	134	6,731	-652	219	219	9,218	-633	212	213
Net cash used in investing activities
-30,416	9,839	-63,478	-65,557	-205,836	-70,110	-69,444	-2,090	-44,349	-48,618	-719	-50,910	-13,247	-33,015	-10,108	14,655	250	-26,045	-34,298	-160,615	-17,522	-77,180	-21,831	-27,985	37,258	-31,159	-49,215	-8,082	-17,805	-126,061	7,924	-99,290	-73,130	-38,738	-19,888	-21,399	-5,972	-48,609	-8,185	-24,813	-7,398
Financing Activities
Net change in short-term borrowings
251,712	7,638	-285,802	-10,602	9,942	73,000	-53,000	-304,000	467,000	3,000	-105,000	-132,059	226,000	29,000	-179,000	-94,000	258,000	-64,700	-58,300	-170,500	308,500	0	-27,000	-199,100	226,100	0	-50,000	-242,100	267,881	-251,303	-34,086	-55,392	293,500	-33,500	-89,200	-265,800	218,900	-	-	-	-
Proceeds from issuance of long-term debt
90,736	110,896	63,599	54,338	693,761	75,000	7,000	0	50,000	50,000	20,000	0	15,175	3,561	635	656	76,908	28,971	1,188	120,809	30,799	1,618	-4,925	3,114	3,598	14,209	17,403	11,137	25,254	150,270	18,198	99,943	6,935	28,039	1,322	21,434	22,957	14,671	1,855	1,466	994
Payments of long-term debt
104,913	114,597	103,358	29,461	361,067	8,095	2,845	3,635	106,515	2,863	11,477	4,997	37,852	6,213	6,216	4,778	80,399	5,442	5,018	18,548	63,466	5,255	25,436	8,446	30,560	14,279	45,765	16,820	17,888	85,123	28,145	3,406	27,269	37,845	26,500	21,358	18,305	1,625	19,278	13,912	1,783
Proceeds from long-term financing agreements
-	-	-	-	-	-	-	-	-	-	-	-	10,396	0	14,027	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from noncontrolling interest owner
-	-	-	-	-	15,621	9,309	7,106	14,700	-377	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions by noncontrolling interest owner
3,307	-	-	-	4,715	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,866	1,866	0	-35,920	4,463	0	31,457	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of facilities and investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,317	15,013	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interest owner
10,298	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of treasury shares to employees and directors
-	-	-	-	-	-	-	-	-	-	450	-511	511	-	-123	7	1,275	-	21	23	403	-55	90	-25	1,499	252	140	-40	1,587	-44	16	106	1,244	85	20	587	123	17	-2	27	1,263
Payments of debt issuance costs
250	912	-139	0	5,788	0	659	0	787	0	0	1,991	33	14	0	10	299	25	0	164	107	0	0	0	3,175	0	0	0	46	527	38	63	9	2,355	0	0	815	6,449	908	0	151
Purchases of treasury stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	14,929	6,377	27,783	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
5,723	5,547	5,530	5,526	5,515	4,663	4,664	4,662	4,650	4,667	4,501	4,501	4,483	4,342	4,341	4,341	4,338	3,910	3,967	3,985	4,059	3,126	3,126	3,126	3,107	3,005	2,996	2,996	2,989	2,796	2,796	2,794	2,780	2,035	2,043	2,042	2,033	1,659	1,659	1,658	1,605
Excess tax benefit from share-based payment arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,075	224	36	125	37	1,608	399	324	223	55	-	-	-	-	-	-	-	-	87	23	38	728
Other
-994	-1,028	-1,200	-389	2	-631	-247	-383	-114	-135	-971	252	-217	868	-406	-599	-993	381	-1,230	-967	-573	-1,015	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Net cash provided by financing activities
223,577	-3,550	-332,153	8,360	336,050	140,232	-45,106	-305,574	419,634	44,508	-99,700	-143,807	209,497	19,248	-178,824	-103,065	250,154	-47,224	-82,988	-80,334	243,938	-22,717	-60,272	-207,546	195,963	-2,424	-80,894	-250,596	273,854	-183,300	-46,847	38,429	271,621	-47,632	-118,994	-267,298	220,827	144,742	81,431	-14,039	-554
Effect of exchange rates on cash, cash equivalents and restricted cash
67	-1,630	1,371	1,095	-771	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in cash, cash equivalents and restricted cash
-35,202	33,596	10,212	-18,904	7,398	5,773	-41,791	27,114	-3,422	10,441	5,544	-10,711	-32,985	-15,528	46,775	-14,918	-17,449	23,092	-115	-13,688	-60,243	-212,242	279,756	3,497	-265,392	174,644	58,521	17,636	-79,934	57,848	56,440	-7,944	11,484	-18,120	19,894	-3,704	-6,899	3,487	-178,585	129,858	-71,470
Supplemental disclosure of cash flow information
Capital project costs incurred but not yet paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,638	-533	4,372	-	2,635	0	0	-	-	-	-	-	-	-	-
Purchase of capitalized software through seller-financing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,084	5,099	4,294	-	6,102	0	0	-	-	-	-	-	-	-	-