Air transport services group, inc. (ATSG)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Write off of Deferred Debt Issuance Cost

2,764

-

-

-

3,816

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

16

2,870

Purchase of common stock

-

-

-

-

-

0

0

3,017

564

0

0

9,721

1,463

1,415

51,337

7,739

3,079

17,264

-4,324

-2,595

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Withholding taxes paid for conversion of employee stock awards

1,115

917

25

112

1,384

996

0

10

1,319

1,478

0

0

1,436

1,069

0

0

1,231

1,924

0

-24

-590

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

OPERATING ACTIVITIES:
Net earnings from continuing operations

133,733

-41,104

105,085

-26,632

22,634

-5,196

32,933

24,464

15,682

94,091

-28,229

-53,918

9,796

-755

2,116

11,528

8,171

13,343

6,347

10,570

8,895

6,659

9,595

9,298

6,522

-42,840

7,799

6,915

8,501

12,211

11,556

11,219

6,662

13,530

-4,826

12,280

2,881

Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent

3,772

914

243

31

31

866

170

170

196

1,026

-4,655

192

192

2,287

47

47

47

1,425

214

214

214

-2,948

312

211

211

-1

0

-1

-1

-198

-186

-160

-230

-599

24

19

-117

Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization

77,001

74,712

71,125

69,937

69,579

61,088

49,201

47,950

46,320

49,162

41,492

41,064

39,033

38,031

35,371

34,066

32,534

34,296

30,754

31,400

28,993

29,826

26,307

27,142

24,979

25,672

23,392

21,765

20,920

21,606

21,057

21,514

20,300

22,198

22,616

23,878

22,371

Pension and post-retirement

972

3,925

3,925

3,925

3,925

940

942

942

942

2,017

14,926

1,995

1,995

21,678

-3,382

-10,146

3,382

1,730

1,730

1,730

1,730

10,868

-791

-792

-793

1,766

1,765

1,765

1,765

1,390

1,391

1,390

1,391

47

-1,527

-1,742

581

Deferred income taxes

7,947

-3,558

6,015

3,316

4,705

3,014

5,497

5,422

5,053

-46,757

4,532

5,305

6,149

1,750

1,088

7,138

3,831

7,703

4,048

6,500

5,440

2,759

5,951

5,351

3,696

5,036

4,625

4,106

5,005

6,067

6,960

6,817

3,905

10,332

-1,729

7,175

1,348

Amortization of stock-based compensation

1,821

1,721

1,887

1,920

1,474

1,479

1,264

1,290

1,014

984

938

926

784

917

673

921

654

486

323

890

755

816

822

716

570

609

848

649

626

563

852

1,061

755

712

864

802

499

Amortization of DHL promissory note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

Net gain on financial instruments

-10,900

2,100

-1,400

-6,900

-3,800

-

-

-

-

1,554

0

-363

209

-

-

-194

-121

573

96

264

-13

127

639

31

299

206

-317

452

290

923

294

202

460

556

-1,881

376

-3,932

Changes in assets and liabilities:
Accounts receivable

4,123

28,393

7,393

-5,481

-15,754

-7,221

-7,153

-439

-10,567

43,083

-9,865

-8,392

6,487

12,347

3,626

-6,157

-219

18,610

2,777

-7,878

901

6,369

-20,570

6,269

-1,650

7,177

1,840

697

-4,720

6,946

1,175

4,205

-7,998

-2,821

-6,704

7,498

47

Inventory and prepaid supplies

4,543

6,507

-4,256

-199

4,441

3,750

2,956

1,438

-4,871

1,446

839

-2,591

4,413

1,066

2,643

2,901

-1,341

4,985

-7

1,496

-2,578

-986

1,437

-1,332

5,045

-1,616

4,205

-426

-1,263

-750

3,010

66

-567

-1,374

528

508

351

Accounts payable

6,169

5,750

1,489

-6,105

2,206

9,627

3,164

-1,459

-608

11,802

-2,546

7,312

6,932

4,877

3,278

-557

-1,995

607

1,079

1,939

799

4,341

-4,168

2,651

-3,627

2,169

2,086

-377

-1,866

-877

5,814

-6,857

-3,768

-851

-9,986

700

8,422

Unearned revenue

3,604

-1,384

1,934

-2,184

3,080

-2,412

92

2,248

-3,752

-14,326

5,188

-2,958

4,765

-333

258

-422

-2,719

-2,647

-823

3,588

-1,234

2,831

651

-963

-1,371

-529

-2,597

-1,818

-1,261

-3,348

-2,418

-3,018

9,438

1,708

-2,050

103

9,576

Accrued expenses, salaries, wages, benefits and other liabilities

-17,742

8,261

3,255

11,141

-9,267

8,223

-1,212

6,673

-10,079

8,137

-564

3,118

-9,911

1,411

4,905

282

-920

9,902

4,436

-3,165

-2,798

-2,950

3,198

-113

209

-1,632

4,484

-2,470

-494

1,087

4,529

-232

-486

-7,017

-1,105

2,566

-2,653

Pension and post-retirement assets

-5,483

-1,713

-5,672

-2,495

-2,252

-3,293

-23,677

-3,739

-4,584

-2,425

-4,811

-2,808

-3,039

-1,268

-6,670

-1,685

-2,196

-2,371

-7,779

-2,808

-3,140

-2,817

-7,185

-2,197

-2,463

-2,581

-20,532

-9,629

-5,610

-3,237

-19,413

-3,609

-1,667

-9,331

-7,656

-5,180

-992

Other

-186

679

-854

-1,623

-658

4,874

-1,507

3,077

-2,335

-1,826

3,235

-1,708

-283

59

348

-586

-1,432

-69

29

-296

-134

81

-411

1,154

887

39

1,110

1,251

1,078

2,926

1,763

493

-150

3,588

-59

-778

-308

NET CASH PROVIDED BY OPERATING ACTIVITIES

99,034

89,800

97,695

102,041

107,402

97,212

58,830

73,141

68,842

43,719

66,495

80,568

44,210

49,495

46,304

52,984

44,309

40,375

37,434

57,272

39,928

42,244

52,047

33,632

21,802

32,898

13,482

17,381

30,650

23,669

22,350

21,609

43,005

26,344

28,335

32,625

45,916

INVESTING ACTIVITIES:
Expenditures for property and equipment

143,495

116,558

120,175

124,913

91,856

78,890

63,209

71,724

79,092

78,180

74,434

60,539

83,786

82,371

57,030

53,403

71,673

47,741

34,665

32,868

43,440

21,318

67,358

19,146

4,362

15,946

23,925

13,472

59,369

46,904

38,876

22,704

46,759

50,526

59,833

58,230

44,494

Proceeds from property and equipment

32

-283

11,009

78

0

97

21

689

16,763

372

9

0

0

-

-

-

-

5,471

340

850

180

1,692

506

1,214

190

184

27

1,152

158

2,288

1,002

697

1,785

10,706

218

223

0

Investment in nonconsolidated affiliate

3,049

2,598

3,333

2,585

15,844

858,273

3,135

2,700

2,450

4,892

6,254

6

640

-17,395

0

0

0

-

-

-

-

0

0

0

-15,000

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of long term deposits

-

-

-

-

-

-

-

-

-

0

0

5,250

4,725

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in non-controlling affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

NET CASH USED IN INVESTING ACTIVITIES

-146,512

-119,439

-112,499

-127,420

-107,700

-937,066

-66,323

-73,735

-64,779

-82,700

-80,679

-55,295

-79,701

-87,393

-57,023

-53,403

-71,673

-42,270

-34,325

-32,018

-43,260

-19,626

-66,852

-17,932

-19,172

-8,959

-23,898

-12,320

-59,211

-44,616

-37,874

-22,007

-44,974

-39,820

-59,615

-56,257

-44,494

FINANCING ACTIVITIES:
Principal payments on long term obligations

499,064

594

22,968

7,969

7,969

18,751

10,749

11,750

17,390

4,315

229,631

10,163

10,337

20,446

11,000

6,434

6,189

16,147

6,106

21,065

26,026

25,987

8,949

20,911

23,374

5,838

15,303

19,767

12,858

16,824

3,790

3,758

1,851

12,686

2,836

189,589

9,313

Other financing payments

-

-

-

-

-

-

0

17

-17

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings

80,000

30,018

30,000

40,000

0

885,000

30,000

0

30,000

25,000

0

30,000

60,000

30,000

95,000

0

60,000

25,000

0

0

20,000

0

30,000

0

15,000

0

20,000

0

60,000

25,000

0

0

25,000

25,000

25,000

215,000

0

Proceeds from Issuance of Unsecured Debt

500,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Convertible Debt

0

-

-

-

-264

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reimbursement of Hanger Construction Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,651

-2,734

1,119

-

-

-

-

-

-

-

-

Payments for financing costs

7,481

0

0

1,081

0

-

-

-

-

1,418

6,469

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Funding for hangar construction

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,427

3,433

1,872

1,147

-

-

-

-

-

-

-

-

-

-

-

-

Reimbursement of hangar construction costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

72,340

29,007

6,853

30,756

-9,617

855,714

19,251

-15,174

10,710

17,789

5,055

10,116

46,764

7,070

32,663

-14,173

49,501

4,731

-10,430

-23,684

-6,616

-25,500

24,484

-19,039

-7,227

-9,104

6,348

-19,271

48,261

8,176

-3,790

-3,758

23,149

12,314

22,164

22,875

-9,313

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

24,862

-632

-7,951

5,377

-9,915

15,860

11,758

-15,768

14,773

-21,192

-9,129

35,389

11,273

-30,828

21,944

-14,592

22,137

2,836

-7,321

1,570

-9,948

-2,882

9,679

-3,339

-4,597

14,835

-4,068

-14,210

19,700

-12,771

-19,314

-4,156

21,180

1,724

-9,116

-757

-7,891

SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid, net of amount capitalized

8,864

12,147

15,061

13,413

16,925

8,191

2,637

4,037

2,413

2,464

4,128

3,695

3,406

2,945

2,689

2,517

2,587

2,529

2,573

2,694

2,952

3,310

3,148

3,502

3,616

3,776

3,559

3,678

2,739

3,955

2,983

3,454

2,803

3,515

2,790

3,438

3,242

Federal alternative minimum and state income taxes paid

48

761

0

533

0

1

406

280

526

653

65

1,107

113

162

297

464

0

-1

370

229

272

39

0

510

55

299

348

566

100

105

1

70

201

100

-20

46

2,322

SUPPLEMENTAL NON-CASH INFORMATION:
Debt extinguished

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

1,550

Accrued expenditures for property and equipment

27,914

2,868

8,927

10,789

15,812

-12,541

5,020

-5,874

24,629

12,581

-54

-5,636

18,251

-10,603

13,798

-1,161

7,084

-6,208

9,623

631

2,987

7,187

-723

959

225

-339

-8,553

4,080

5,867

-10,620

5,039

343

10,008

-1,487

-1,170

7,421

6,157

Net (gain) loss on financial instruments

107,044

-72,868

91,952

-35,886

4,500

-21,411

17,895

11,697

-885

20,424

-34,433

-67,649

1,869

-14,664

-8,473

5,558

-528

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-