Air transport services group, inc. (ATSG)
CashFlow / TTM
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

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,886

0

0

0

Purchase of common stock

-

-

-

-

-

3,581

3,581

3,581

10,285

11,184

12,599

63,936

61,954

63,570

79,419

23,758

13,424

10,345

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Withholding taxes paid for conversion of employee stock awards

2,169

2,438

2,517

2,492

2,390

2,325

2,807

2,807

2,797

2,914

2,505

2,505

2,505

2,300

3,155

3,155

3,131

1,310

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

OPERATING ACTIVITIES:
Net earnings from continuing operations

171,082

59,983

95,891

23,739

74,835

67,883

167,170

106,008

27,626

21,740

-73,106

-42,761

22,685

21,060

35,158

39,389

38,431

39,155

32,471

35,719

34,447

32,074

-17,425

-19,221

-21,604

-19,625

35,426

39,183

43,487

41,648

42,967

26,585

27,646

23,865

0

0

0

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

4,960

1,219

1,171

1,098

1,237

1,402

1,562

-3,263

-3,241

-3,245

-1,984

2,718

2,573

2,428

1,566

1,733

1,900

2,067

-2,306

-2,208

-2,211

-2,214

733

421

209

-3

-200

-386

-545

-774

-1,175

-965

-786

-673

0

0

0

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

292,775

285,353

271,729

249,805

227,818

204,559

192,633

184,924

178,038

170,751

159,620

153,499

146,501

140,002

136,267

131,650

128,984

125,443

120,973

116,526

112,268

108,254

104,100

101,185

95,808

91,749

87,683

85,348

85,097

84,477

85,069

86,628

88,992

91,063

0

0

0

Pension and post-retirement

12,747

15,700

12,715

9,732

6,749

3,766

4,843

18,827

19,880

20,933

40,594

22,286

10,145

11,532

-8,416

-3,304

8,572

6,920

16,058

13,537

11,015

8,492

-610

1,946

4,503

7,061

6,685

6,311

5,936

5,562

4,219

1,301

-1,831

-2,641

0

0

0

Deferred income taxes

13,720

10,478

17,050

16,532

18,638

18,986

-30,785

-31,750

-31,867

-30,771

17,736

14,292

16,125

13,807

19,760

22,720

22,082

23,691

18,747

20,650

19,501

17,757

20,034

18,708

17,463

18,772

19,803

22,138

24,849

23,749

28,014

19,325

19,683

17,126

0

0

0

Amortization of stock-based compensation

7,349

7,002

6,760

6,137

5,507

5,047

4,552

4,226

3,862

3,632

3,565

3,300

3,295

3,165

2,734

2,384

2,353

2,454

2,784

3,283

3,109

2,924

2,717

2,743

2,676

2,732

2,686

2,690

3,102

3,231

3,380

3,392

3,133

2,877

0

0

0

Amortization of DHL promissory note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,550

3,100

4,650

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

0

0

0

Net gain on financial instruments

-17,100

-10,000

0

0

0

-

-

-

-

1,400

0

0

0

-

-

354

812

920

474

1,017

784

1,096

1,175

219

640

631

1,348

1,959

1,709

1,879

1,512

-663

-489

-4,881

0

0

0

Changes in assets and liabilities:
Accounts receivable

34,428

14,551

-21,063

-35,609

-30,567

-25,380

24,924

22,212

14,259

31,313

577

14,068

16,303

9,597

15,860

15,011

13,290

14,410

2,169

-21,178

-7,031

-9,582

-8,774

13,636

8,064

4,994

4,763

4,098

7,606

4,328

-5,439

-13,318

-10,025

-1,980

0

0

0

Inventory and prepaid supplies

6,595

6,493

3,736

10,948

12,585

3,273

969

-1,148

-5,177

4,107

3,727

5,531

11,023

5,269

9,188

6,538

5,133

3,896

-2,075

-631

-3,459

4,164

3,534

6,302

7,208

900

1,766

571

1,063

1,759

1,135

-1,347

-905

13

0

0

0

Accounts payable

7,303

3,340

7,217

8,892

13,538

10,724

12,899

7,189

15,960

23,500

16,575

22,399

14,530

5,603

1,333

-866

1,630

4,424

8,158

2,911

3,623

-803

-2,975

3,279

251

2,012

-1,034

2,694

-3,786

-5,688

-5,662

-21,462

-13,905

-1,715

0

0

0

Unearned revenue

1,970

1,446

418

-1,424

3,008

-3,824

-15,738

-10,642

-15,848

-7,331

6,662

1,732

4,268

-3,216

-5,530

-6,611

-2,601

-1,116

4,362

5,836

1,285

1,148

-2,212

-5,460

-6,315

-6,205

-9,024

-8,845

-10,045

654

5,710

6,078

9,199

9,337

0

0

0

Accrued expenses, salaries, wages, benefits and other liabilities

4,915

13,390

13,352

8,885

4,417

3,605

3,519

4,167

612

780

-5,946

-477

-3,313

5,678

14,169

13,700

10,253

8,375

-4,477

-5,715

-2,663

344

1,662

2,948

591

-112

2,607

2,652

4,890

4,898

-3,206

-8,840

-6,042

-8,209

0

0

0

Pension and post-retirement assets

-15,363

-12,132

-13,712

-31,717

-32,961

-35,293

-34,425

-15,559

-14,628

-13,083

-11,926

-13,785

-12,662

-11,819

-12,922

-14,031

-15,154

-16,098

-16,544

-15,950

-15,339

-14,662

-14,426

-27,773

-35,205

-38,352

-39,008

-37,889

-31,869

-27,926

-34,020

-22,263

-23,834

-23,159

0

0

0

Other

-1,984

-2,456

1,739

1,086

5,786

4,109

-2,591

2,151

-2,634

-582

1,303

-1,584

-462

-1,611

-1,739

-2,058

-1,768

-470

-320

-760

690

1,711

1,669

3,190

3,287

3,478

6,365

7,018

6,260

5,032

5,694

3,872

2,601

2,443

0

0

0

NET CASH PROVIDED BY OPERATING ACTIVITIES

388,570

396,938

404,350

365,485

336,585

298,025

244,532

252,197

259,624

234,992

240,768

220,577

192,993

193,092

183,972

175,102

179,390

175,009

176,878

191,491

167,851

149,725

140,379

101,814

85,563

94,411

85,182

94,050

98,278

110,633

113,308

119,293

130,309

133,220

0

0

0

INVESTING ACTIVITIES:
Expenditures for property and equipment

505,141

453,502

415,834

358,868

305,679

292,915

292,205

303,430

292,245

296,939

301,130

283,726

276,590

264,477

229,847

207,482

186,947

158,714

132,291

164,984

151,262

112,184

106,812

63,379

57,705

112,712

143,670

158,621

167,853

155,243

158,865

179,822

215,348

213,083

0

0

0

Proceeds from property and equipment

10,836

10,804

11,184

196

807

17,570

17,845

17,833

17,144

381

0

0

0

-

-

-

-

6,841

3,062

3,228

3,592

3,602

2,094

1,615

1,553

1,521

3,625

4,600

4,145

5,772

14,190

13,406

12,932

11,147

0

0

0

Investment in nonconsolidated affiliate

11,565

24,360

880,035

879,837

879,952

866,558

13,177

16,296

13,602

11,792

-10,495

-16,749

-16,755

-17,395

0

0

0

-

-

-

-

-15,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of long term deposits

-

-

-

-

-

-

-

-

-

9,975

9,975

9,975

4,725

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment in non-controlling affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

NET CASH USED IN INVESTING ACTIVITIES

-505,870

-467,058

-1,284,685

-1,238,509

-1,184,824

-1,141,903

-287,537

-301,893

-283,453

-298,375

-303,068

-279,412

-277,520

-269,492

-224,369

-201,671

-180,286

-151,873

-129,229

-161,756

-147,670

-123,582

-112,915

-69,961

-64,349

-104,388

-140,045

-154,021

-163,708

-149,471

-144,675

-166,416

-200,666

-200,186

0

0

0

FINANCING ACTIVITIES:
Principal payments on long term obligations

530,595

39,500

57,657

45,438

49,219

58,640

44,204

263,086

261,499

254,446

270,577

51,946

48,217

44,069

39,770

34,876

49,507

69,344

79,184

82,027

81,873

79,221

59,072

65,426

64,282

53,766

64,752

53,239

37,230

26,223

22,085

21,131

206,962

214,424

0

0

0

Other financing payments

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings

180,018

100,018

955,000

955,000

915,000

945,000

85,000

55,000

85,000

115,000

120,000

215,000

185,000

185,000

180,000

85,000

85,000

45,000

20,000

50,000

50,000

45,000

45,000

35,000

35,000

80,000

105,000

85,000

85,000

50,000

50,000

75,000

290,000

265,000

0

0

0

Proceeds from Issuance of Unsecured Debt

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from Convertible Debt

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Reimbursement of Hanger Construction Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Payments for financing costs

8,562

1,081

0

0

0

-

-

-

-

7,887

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Funding for hangar construction

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,879

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Reimbursement of hangar construction costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

138,956

56,999

883,706

896,104

850,174

870,501

32,576

18,380

43,670

79,724

69,005

96,613

72,324

75,061

72,722

29,629

20,118

-35,999

-66,230

-31,316

-26,671

-27,282

-10,886

-29,022

-29,254

26,234

43,514

33,376

48,889

23,777

27,915

53,869

80,502

48,040

0

0

0

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

21,656

-13,121

3,371

23,080

1,935

26,623

-10,429

-31,316

19,841

16,341

6,705

37,778

-12,203

-1,339

32,325

3,060

19,222

-12,863

-18,581

-1,581

-6,490

-1,139

16,578

2,831

-8,040

16,257

-11,349

-26,595

-16,541

-15,061

-566

9,632

13,031

-16,040

0

0

0

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

49,485

57,546

53,590

41,166

31,790

17,278

11,551

13,042

12,700

13,693

14,174

12,735

11,557

10,738

10,322

10,206

10,383

10,748

11,529

12,104

12,912

13,576

14,042

14,453

14,629

13,752

13,931

13,355

13,131

13,195

12,755

12,562

12,546

12,985

0

0

0

Federal alternative minimum and state income taxes paid

1,342

1,294

534

940

687

1,213

1,865

1,524

2,351

1,938

1,447

1,679

1,036

923

760

833

598

870

910

540

821

604

864

1,212

1,268

1,313

1,119

772

276

377

372

351

327

2,448

0

0

0

SUPPLEMENTAL NON-CASH INFORMATION:
Debt extinguished

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,100

4,650

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

6,200

0

0

0

Accrued expenditures for property and equipment

50,498

38,396

22,987

19,080

2,417

11,234

36,356

31,282

31,520

25,142

1,958

15,810

20,285

9,118

13,513

9,338

11,130

7,033

20,428

10,082

10,410

7,648

122

-7,708

-4,587

1,055

-9,226

4,366

629

4,770

13,903

7,694

14,772

10,921

0

0

0

Net (gain) loss on financial instruments

90,242

-12,302

39,155

-34,902

12,681

7,296

49,131

-3,197

-82,543

-79,789

-114,877

-88,917

-15,710

-18,107

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-