AXALTA COATING SYSTEMS LTD. AXTA Cash Flow

Axalta coating systems ltd. (AXTA)

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'12
Operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
52,400	42,200	66,400	99,900	44,100	76,800	-11,600	77,100	71,000	-55,600	56,300	-18,900	65,900	-35,100	-5,400	53,300	31,800	37,000	36,400	-24,300	46,700	900	-18,300	55,800	-3,700	-29,000
Adjustment to reconcile net income to cash used for operating activities:
Depreciation and amortization
86,600	85,700	87,000	88,700	91,600	94,200	92,800	90,200	91,900	91,600	88,600	84,900	82,400	86,300	81,200	78,600	76,000	82,200	75,400	77,500	72,600	79,600	76,200	71,800	81,100	0
Amortization of deferred financing costs and original issue discount
2,200	2,100	2,300	2,200	2,200	2,200	1,900	2,000	1,900	1,900	1,900	2,100	2,100	3,200	4,500	5,000	5,100	5,100	5,300	5,200	5,000	5,300	5,400	5,100	5,200	0
Debt extinguishment and refinancing related costs
2,400	0	0	200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,000	0	3,100	0
Fair value step up of acquired inventory sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Bridge financing commitment fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Deferred income taxes
-45,700	21,300	-4,000	-2,000	400	7,900	-5,800	8,900	-4,900	113,400	-8,800	-12,900	0	-900	-7,800	-3,900	-3,300	-5,100	6,000	10,100	-17,200	-22,300	-1,800	1,000	-15,100	0
Unrealized losses on derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	700	-700	-3,100	-
Realized and unrealized foreign exchange losses, net
-3,700	-4,400	1,300	-1,900	-900	-1,100	-10,100	-7,400	1,300	2,200	-1,000	-1,300	3,700	-4,900	-4,600	-18,500	-7,500	-3,500	-23,700	-61,700	-4,800	-28,400	-65,900	22,600	-3,400	0
Share-based Payment Arrangement, Noncash Expense
5,100	6,200	4,200	-1,400	6,700	9,800	9,400	9,700	8,400	-	-	-	-	9,500	10,000	11,400	10,200	8,100	7,900	12,400	1,800	1,900	2,300	2,000	1,800	0
Divestiture and Impairment
500	-	-	-	5,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on assets held for sale
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income on swaps designated as net investment hedges
3,700	3,700	3,800	3,700	3,500	3,500	5,900	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash, net
1,900	-3,400	2,900	300	300	-3,000	7,400	-8,800	5,300	2,500	-4,100	-3,100	300	-8,500	7,500	0	2,900	-7,300	-1,600	-3,500	-100	-700	18,500	2,600	4,900	0
Changes in operating assets and liabilities:
Trade accounts and notes receivable
-5,400	-118,800	-24,000	62,500	90,400	-97,200	-14,000	81,200	52,300	-29,300	-84,400	66,400	62,500	-36,000	14,100	63,200	26,500	-50,500	-13,300	71,400	53,500	-69,500	-2,600	47,000	65,300	0
Inventories
27,100	-14,800	2,600	-20,800	22,200	-3,700	20,000	-11,100	42,900	-17,700	32,500	-6,100	11,200	1,800	13,300	-20,900	7,500	-9,500	3,600	15,200	25,900	-25,900	26,300	-4,000	28,300	0
Prepaid expenses and other assets
38,200	23,900	13,400	21,100	60,500	29,400	68,200	29,500	30,200	5,000	19,000	33,400	27,500	33,300	11,000	6,400	13,800	8,300	11,300	9,700	36,300	6,400	6,300	43,300	-1,900	0
Accounts payable
29,000	-11,700	9,200	-14,700	35,400	4,100	8,400	3,100	33,900	5,600	40,500	-5,500	-800	18,300	10,000	20,600	-16,600	3,400	6,100	-15,200	-1,000	1,200	-7,100	30,200	29,300	0
Other accrued liabilities
-73,300	5,300	54,000	15,200	-69,200	25,200	27,000	26,400	-87,000	34,500	-14,400	41,400	-54,800	58,300	15,600	54,700	-69,900	54,900	500	49,100	-91,100	19,400	-26,600	29,300	-76,900	29,000
Other liabilities
1,800	700	2,400	4,800	1,700	-42,800	79,800	-400	-4,200	-3,500	-4,000	-400	-4,700	2,800	-3,400	-3,000	-3,400	-4,600	-2,500	-10,600	-4,700	-9,000	-4,100	-3,500	-1,900	0
Cash used for operating activities
-800	283,300	221,000	126,700	-57,900	250,600	124,500	142,000	-21,000	233,600	212,300	98,800	-4,700	228,000	145,300	199,300	-13,300	246,000	158,800	103,700	-98,700	192,000	45,700	80,900	-67,200	0
Investing activities:
Acquisitions, net of cash acquired
0	1,200	200	200	1,700	3,600	1,000	0	78,200	5,100	26,000	476,400	56,900	11,300	103,500	0	0	9,700	16,800	-100	3,200	0	0	0	0	0
Investment in non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of property, plant and equipment
22,700	38,600	26,700	26,700	20,500	33,900	34,900	35,100	39,500	37,800	29,800	25,100	32,300	40,900	30,500	24,500	40,300	44,300	37,200	25,100	31,500	32,800	54,800	50,600	50,200	0
Proceeds from sale of a business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Investment in real estate property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchase of interest rate cap
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Settlement of foreign currency contract
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	-100	-1,800	-	2,400	-100	2,000	0
Purchase of intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	0
Interest proceeds on swaps designated as net investment hedges
-3,700	-3,700	-3,800	-3,700	-3,500	-3,500	-5,900	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Sale of Intangible Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Proceeds from sale of affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Investment in equity affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other investing activities, net
-400	-1,200	2,200	-100	100	100	100	-5,300	0	4,800	-4,900	100	200	3,600	0	-500	2,900	-300	-300	1,800	-2,700	-	-	-	-	-
Cash used for investing activities
-18,600	-34,900	-25,300	-14,900	-18,800	-11,600	-30,100	-29,800	-117,700	-42,900	-51,400	-505,900	-89,400	-51,900	-137,900	-24,000	-43,200	-55,100	-54,200	-26,700	-30,200	-24,800	-46,200	-50,400	-52,400	0
Financing activities:
Proceeds from short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,000	-100	1,600	1,500	7,000	7,000	0	16,700	0
Proceeds from long-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Payments on short-term borrowings
10,600	10,000	9,000	9,200	11,300	10,900	10,800	13,700	9,300	7,100	2,600	2,100	2,300	1,400	1,700	5,200	300	1,300	1,900	3,000	10,700	2,900	13,700	7,600	9,600	0
Payments on long-term borrowings
307,200	7,600	6,300	6,400	7,300	6,200	6,600	491,600	6,900	37,600	6,300	1,100	5,000	380,200	1,261,800	106,800	6,900	106,800	6,900	6,800	6,800	7,000	107,000	7,100	0	0
Financing-related costs
0	0	-600	1,200	900	5,900	400	4,500	0	500	1,000	6,600	2,300	8,000	78,300	0	0	-	-	-	-	-	-	-	-	0
Purchases of common stock
0	0	0	39,600	65,700	106,000	44,000	100,500	3,300	0	50,100	8,300	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash flows associated with stock-based awards
-1,100	-	-	-	11,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt modification fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3,000	0
Equity contribution
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Proceeds from option exercises
-	-	-	-	-	200	6,700	4,300	6,200	4,900	7,000	4,100	8,800	2,900	7,900	3,900	2,000	-5,400	15,900	51,900	0	-	-	-	-	0
Refinancing related costs
0	0	-600	1,200	900	5,900	400	4,500	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bridge financing commitment fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Dividends paid to noncontrolling interests
-	-	-	-	-	0	0	0	1,000	300	1,800	500	400	0	1,500	0	1,500	300	300	600	3,500	600	0	700	900	0
Purchase of noncontrolling interests
1,600	0	0	4,200	26,900	0	0	0	26,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net transfer from DuPont
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other financing activities, net
-800	-	-	-	-1,100	-	-	-	-	-	-	-	-	-	0	100	-300	0	0	0	-200	2,500	0	0	0	-
Deferred acquisition-related consideration
-	-	-	-	-	-	-	-	-	0	1,800	0	3,400	0	0	0	0	-	-	-	-	-	-	-	-	-
Cash used for financing activities
-321,300	-	-	-	-101,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Cash Provided by (Used in) Financing Activities, Continuing Operations
-	-	-	-	-	-	-	-143,000	-41,200	-	-56,600	441,900	-4,600	-159,800	42,200	-108,000	-7,000	-114,800	6,700	43,100	-19,700	-2,700	-108,300	-15,400	3,200	0
Decrease in cash
-340,700	235,000	198,600	65,700	-178,500	110,200	39,200	-30,800	-179,900	177,300	104,300	34,800	-98,700	16,300	49,600	67,300	-63,500	76,100	111,300	120,100	-148,600	164,500	-108,800	15,100	-116,400	0
Effect of exchange rate changes on cash
-19,800	15,400	-13,100	200	800	-4,700	-2,100	-18,700	10,300	3,600	2,700	8,200	2,600	-9,300	-1,700	-6,400	-1,900	-4,700	-7,500	-35,200	-10,600	-11,000	-8,200	-4,400	-3,300	0
Cash paid during the year for:
Interest, net of amounts capitalized
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Income taxes, net of refunds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0