ANDERSONS, INC. ANDE Cash Flow

Andersons, inc. (ANDE)

CashFlow / TTM

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
-21,903	15,060	33,061	37,057	29,059	41,225	87,301	91,792	43,662	42,609	-15,825	-15,101	27,057	14,470	-43,556	-47,847	-30,889	-11,322	63,361	83,590	100,561	122,645	129,297	128,057	109,419	95,702	75,258	72,410	70,149	75,565	83,561	79,601	97,165	96,825	100,732	89,869	69,613	64,881	0	0	0
Adjustments to reconcile net income (loss) to cash used in operating activities:
Depreciation and amortization
159,304	146,166	120,733	109,211	101,378	90,297	89,826	88,766	88,088	86,412	86,627	85,824	84,426	84,325	83,335	83,239	81,835	78,456	75,063	70,167	65,672	62,005	57,979	55,557	54,362	55,307	55,282	54,661	53,283	48,977	46,079	43,386	41,448	40,837	41,072	40,051	39,047	38,913	0	0	0
Bad debt expense
7,999	4,007	4,593	3,082	1,391	542	1,488	1,324	1,840	3,000	1,478	1,539	1,396	1,191	3,289	3,309	3,538	3,302	1,787	1,357	994	1,183	685	887	1,295	1,187	711	1,246	764	1,129	-2,027	-2,022	-1,616	187	-4,966	-5,444	-5,683	-8,716	0	0	0
Equity in earnings of affiliates, net of dividends
-9,007	-7,671	1,883	13,009	22,272	23,167	26,716	17,893	14,785	10,494	206	-3,792	-9,664	-14,766	-15,995	-8,484	-4,952	677	-16,238	-13,555	14,908	-28,749	19,824	33,406	6,423	50,953	23,336	5,650	-63	-8,134	938	9,701	16,361	23,591	23,597	11,295	6,415	17,594	0	0	0
Loss (gain) on sales of assets
-	-	-	-	-	5,218	7,139	8,855	9,426	14,401	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sale of facilities and investments in affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	23,566	-	0	0	0	17,055	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of Rail Group assets and related leases
4,031	4,122	5,162	6,867	8,014	9,558	9,259	9,995	9,661	10,990	12,295	11,278	12,185	11,019	7,209	8,793	11,202	13,281	13,602	11,759	9,583	15,830	16,656	18,034	20,436	19,366	18,781	29,607	27,070	23,665	23,013	10,058	9,945	8,417	9,070	10,815	9,978	7,771	0	0	0
Stock-based compensation expense
14,310	16,229	13,363	10,910	10,155	6,624	6,445	6,168	6,145	6,097	5,995	6,226	6,734	6,987	4,843	3,607	2,636	1,899	3,637	4,516	7,855	8,581	9,544	8,957	5,033	4,339	3,024	2,550	2,967	3,990	4,616	5,083	5,071	4,071	3,402	3,087	2,612	2,589	0	0	0
Excess tax benefit from share-based payment arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,335	1,460	422	1,806	2,169	2,368	2,554	1,001	0	0	0	-	-	-	-	-	-	-	-	876	0	0	0
Deferred income tax
27,228	5,114	-653	16,811	5,378	11,018	0	0	0	-	-	-	-	-	-	14,942	29,737	27,279	31,295	25,349	12,105	21,815	25,630	25,051	45,833	40,374	33,795	34,629	20,165	16,503	10,704	5,429	3,470	5,473	10,322	13,849	10,424	12,205	0	0	0
Inventory write down
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-3,013	-3,540	-4,812	211	-3,147	1,451	2,071	-1,587	-600	55	2,673	4,084	2,775	2,070	2,507	2,038	2,349	1,439	-1,211	-2,905	-3,098	296	584	3,217	2,741	135	67	-476	224	176	-149	-302	-383	-254	-329	-333	-249	-215	0	0	0
Changes in operating assets and liabilities:
Accounts receivable
-69,045	-1,487	-944	172,846	73,353	24,788	10,738	37,164	28,512	-9,781	21,338	-30,307	-18,608	26,429	-45,636	-43,617	-35,950	-45,058	17,867	26,782	10,679	1,703	-16,139	-25,833	-4,241	-35,446	-39,253	-7,023	-25,293	21,737	38,569	-38,642	-19,546	15,708	4,129	96,771	67,842	848	0	0	0
Inventories
3,996	1,578	-205,185	-199,475	-165,943	44,060	28,151	45,828	102,577	-16,141	54,326	-16,861	-17,674	-28,165	-63,548	14,623	-65,599	-73,350	97,540	41,626	9,681	172,040	-32,731	-12,774	-28,483	-162,443	-379,565	-277,258	-170,820	-122,428	212,041	115,018	11,692	114,427	3,703	210,046	374,950	214,171	0	0	0
Commodity derivatives
-32,094	-21,714	4,748	134,393	-20,016	16,610	-22,292	-27,465	29,507	-20,285	6,509	-78,123	-9,657	9,990	-10,530	74,180	-2,164	-14,098	139,147	-68,379	-55,494	27,652	-134,214	11,333	-17,706	-69,633	-126,307	-43,507	102,245	-2,947	44,471	-73,225	-124,683	-134,309	-69,195	196,424	114,451	158,183	0	0	0
Other assets
-8,273	-30,497	-21,945	-13,158	-13,493	-3,290	84,532	67,314	63,728	74,237	6,707	5,576	-8,506	-19,407	-11,686	7,876	20,747	26,315	24,627	16,634	13,719	11,407	-7,092	-10,457	-2,878	4,926	8,979	7,534	22,602	12,927	-4,505	8,270	-10,146	1,104	8,272	4,325	4,909	3,970	0	0	0
Accounts payable for grain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-97,974	-41,446	-20,722	101,265	172,253	49,606	24,794	117,309	-69,132	-11,786	-14,212	20,703	0	0	0
Payables and other accrued expenses
-67,672	103,842	-139,059	-137,126	-25,955	-69,935	33,603	75,500	36,914	-5,623	38,899	-50,784	-102,004	-94,688	-138,722	-67,277	-71,816	-120,267	39,800	13,390	-398,258	-12,429	-392,672	-454,596	-41,026	-55,934	-67,460	-6,512	8,785	5,914	24,180	-61,794	33,339	49,708	25,856	117,136	77,508	31,656	0	0	0
Net cash used in operating activities
242,177	348,562	255,276	-76,437	221,143	-35,519	43,381	76,585	-74,187	75,285	58,973	188,717	78,203	39,585	137,707	19,171	172,940	154,134	-54,572	190,116	201,883	-10,071	310,501	137,272	174,558	337,188	496,170	402,903	179,506	328,482	29,523	92,936	325,012	290,265	129,369	-281,238	-397,521	-239,285	0	0	0
Investing Activities
Acquisition of business, net of cash acquired
-44,763	102,580	151,870	149,941	149,591	2,248	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,252	138,719	130,490	208,316	220,257	0	0	0	-	-	-	-	-	-	-	-
Purchases of Rail Group assets
102,651	105,254	127,392	142,353	153,362	167,005	173,561	144,601	147,462	143,020	104,802	124,270	103,002	85,268	60,665	88,780	98,917	115,032	163,119	113,420	99,517	90,067	60,324	66,088	62,348	92,584	79,925	91,095	122,051	111,224	128,575	109,034	86,761	64,161	43,167	41,553	20,807	18,354	0	0	0
Proceeds from sale of Rail Group assets
18,547	18,090	40,977	45,861	66,812	79,439	66,172	68,473	45,850	36,896	30,996	55,682	57,343	56,689	55,708	60,667	68,741	76,625	66,183	29,259	19,485	32,099	40,506	73,184	86,553	97,232	121,132	128,013	116,765	90,827	67,873	28,681	31,445	30,398	22,468	25,239	23,247	20,102	0	0	0
Purchases of property, plant and equipment and capitalized software
139,802	165,223	181,236	175,488	157,893	142,579	94,591	72,926	58,408	34,602	48,307	59,273	71,043	77,740	86,220	78,698	78,032	72,469	62,438	67,256	60,894	59,675	55,055	48,870	46,115	46,786	48,947	49,652	60,454	69,274	66,238	69,761	55,014	44,162	37,105	28,224	30,200	30,897	0	0	0
Proceeds from sale of assets
30,253	30,617	6,030	13,300	47,880	47,486	49,585	54,426	19,973	33,879	26,832	84,165	83,610	69,904	69,773	4	410	284	542	1,571	1,373	1,401	1,082	536	430	390	650	528	676	1,116	916	1,536	1,375	931	2,550	1,970	1,985	1,942	0	0	0
Purchase of investments
40	0	0	0	0	-	-	-	-	-	-	-	-	-9,186	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-3,287	-1,470	872	-1,628	283	-1,534	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	19,996	0	0	0	-	-	-	-	-	-	-	-
Investments in affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	34	-	8	46	33	21	8	24	17	10	5	-4,772	-18,150	-18,253	-11,760	-6,928	6,432	6,517	9,004	9,023	9,016	9,010	0	0	0
Net cash used in investing activities
-149,612	-325,032	-404,981	-410,947	-347,480	-185,993	-164,501	-95,776	-144,596	-113,494	-97,891	-107,280	-41,715	-28,218	-21,248	-45,438	-220,708	-238,480	-289,615	-277,148	-144,518	-89,738	-43,717	-71,101	-51,198	-106,261	-201,163	-144,024	-235,232	-290,557	-203,234	-231,046	-153,155	-85,997	-95,868	-84,165	-87,579	-89,005	0	0	0
Financing Activities
Net change in short-term borrowings
-37,054	-278,824	-213,462	19,340	-274,058	183,000	113,000	61,000	232,941	-8,059	17,941	-56,059	-18,000	14,000	-79,700	41,000	-35,500	15,000	79,700	111,000	82,400	0	0	-23,000	-66,000	-24,219	-275,522	-259,608	-72,900	-47,281	170,522	115,408	-95,000	-169,600	0	0	0	-	-	-	-
Proceeds from issuance of long-term debt
319,569	922,594	886,698	830,099	775,761	132,000	107,000	120,000	120,000	85,175	38,736	19,371	20,027	81,760	107,170	107,723	227,876	181,767	154,414	148,301	30,606	3,405	15,996	38,324	46,347	68,003	204,064	204,859	293,665	275,346	153,115	136,239	57,730	73,752	60,384	60,917	40,949	18,986	0	0	0
Payments of long-term debt
352,329	608,483	501,981	401,468	375,642	121,090	115,858	124,490	125,852	57,189	60,539	55,278	55,059	97,606	96,835	95,637	109,407	92,474	92,287	112,705	102,603	69,697	78,721	99,050	107,424	94,752	165,596	147,976	134,562	143,943	96,665	95,020	112,972	104,008	67,788	60,566	53,120	36,598	0	0	0
Proceeds from long-term financing agreements
-	-	-	-	-	-	-	-	-	-	-	-	24,423	14,027	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from noncontrolling interest owner
-	-	-	-	-	46,736	30,738	21,429	14,323	-377	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions by noncontrolling interest owner
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-35,920	-29,591	-31,457	0	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of facilities and investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interest owner
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of treasury shares to employees and directors
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	1,340	-	392	461	413	1,509	1,816	1,866	1,851	1,939	1,643	1,519	1,665	1,322	1,451	1,455	1,936	815	747	725	165	1,305	0	0	0
Payments of debt issuance costs
1,023	6,561	5,649	6,447	6,447	1,446	1,446	787	2,778	2,024	2,038	2,038	57	323	334	334	488	296	271	271	107	3,175	3,175	3,175	3,175	46	573	611	674	637	2,465	2,427	2,364	3,170	7,264	8,172	8,172	7,508	0	0	0
Purchases of treasury stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49,089	49,089	34,160	27,783	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
22,326	22,118	21,234	20,368	19,504	18,639	18,643	18,480	18,319	18,152	17,827	17,667	17,507	17,362	16,930	16,556	16,200	15,921	15,137	14,296	13,437	12,485	12,364	12,234	12,104	11,986	11,777	11,577	11,375	11,166	10,405	9,652	8,900	8,153	7,777	7,393	7,009	6,581	0	0	0
Excess tax benefit from share-based payment arrangement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,335	1,460	422	1,806	2,169	2,368	2,554	1,001	0	0	0	-	-	-	-	-	-	-	-	876	0	0	0
Other
-3,611	-2,615	-2,218	-1,265	-1,259	-1,375	-879	-1,603	-968	-1,071	-68	497	-354	-1,130	-1,617	-2,441	-2,809	-2,389	-3,785	-2,555	-1,588	-1,015	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-103,766	8,707	152,489	439,536	125,602	209,186	113,462	58,868	220,635	10,498	-14,762	-93,886	-53,144	-12,487	-78,959	16,877	39,608	33,392	57,899	80,615	-46,597	-94,572	-74,279	-94,901	-137,951	-60,060	-240,936	-206,889	82,136	79,903	215,571	143,424	-162,303	-213,097	-20,723	179,702	432,961	211,580	0	0	0
Effect of exchange rates on cash, cash equivalents and restricted cash
903	65	1,695	324	-771	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in cash, cash equivalents and restricted cash
-10,298	32,302	4,479	-47,524	-1,506	-12,326	-7,658	39,677	1,852	-27,711	-53,680	-12,449	-16,656	-1,120	37,500	-9,390	-8,160	-50,954	-286,288	-6,417	10,768	-194,381	192,505	-28,730	-14,591	170,867	54,071	51,990	26,410	117,828	41,860	5,314	9,554	-8,829	12,778	-185,701	-52,139	-116,710	0	0	0
Supplemental disclosure of cash flow information
Capital project costs incurred but not yet paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Purchase of capitalized software through seller-financing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-