Belmond Ltd. BEL Cash Flow

Belmond ltd. (BEL)

CashFlow / Quarterly

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
Cash flows from operating activities:
Net (losses)/earnings
-24,379	12,598	-1,550	-14,921	-29,670	7,670	-4,971	-17,977	6,709	22,885	8,308	-1,469	493	9,481	15,334	-9,454	-1,970	14,883	5,996	-20,644	-17,952	16,125	17,337	-47,006	-22,461	17,682	11,678	-13,787	-28,070	-50,067	5,221	-14,680	-26,484	-22,475	-782	-12,839
Less: Net (losses)/earnings from discontinued operations, net of tax
-2	-4	-2	-2	-3	-3	93	35	981	-4	156	-101	-910	-381	-53	-190	-1,111	-1,469	-467	-735	-4,413	-505	402	-802	1,010	4,585	-1,503	446	-46,826	-18,450	-766	-1,663	-37,785	749	-1,561	4,298
(Losses)/earnings from continuing operations
-24,377	12,602	-1,548	-14,919	-29,667	7,673	-5,064	-18,012	5,728	22,889	8,152	-1,368	1,403	9,862	15,387	-9,264	-859	16,352	6,463	-19,909	-13,539	16,630	16,935	-46,204	-23,471	13,097	13,181	-14,233	18,756	-31,617	5,987	-13,017	11,301	-23,224	779	-17,137
Adjustments to reconcile net (losses)/earnings to net cash provided by operating activities:
Depreciation and amortization
15,678	14,963	14,775	15,862	16,990	17,052	15,082	13,728	12,843	13,155	13,331	13,067	13,329	12,180	12,425	12,579	15,052	12,062	12,771	12,119	14,367	10,656	12,239	11,478	12,173	10,545	10,514	10,521	11,080	11,184	10,377	10,992	8,362	11,685	11,487	11,096
Impairment of property, plant and equipment and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	750	0	0	35,680	3,837	0	0	0	-	-	-	-	-	-	-	-
Amortization of finance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,645	1,499	2,018	-	1,359	1,297	1,274	1,071	2,086	2,805	931	2,379	816	700	890
(Gain)/loss on disposal of property, plant and equipment and equity method investments
300	150	150	150	-603	150	150	150	150	488	150	150	150	150	19,825	150	150	121	153	3,704	0	0	0	0	-	-	-	-	12,870	-18	-86	606	-19	149	-722	592
Gain on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-14,506	3,517	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
(Earnings)/losses from unconsolidated companies, net of tax
519	4,043	3,417	1,376	-18,002	3,939	3,474	376	3,301	4,618	2,259	835	3,676	3,717	1,357	325	5,297	3,149	1,451	-413	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs and discount on secured term loan
767	720	762	754	856	1,349	757	720	836	768	732	708	733	727	748	695	566	916	958	1,481	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Undistributed earnings of unconsolidated companies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-857	-	2,520	3,336	-46	1,980	3,214	2,198	-765	963	1,519	4,819	-2,815
Tax on earnings of unconsolidated companies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-230	-	761	1,001	-14	848	985	670	-233	-	-	-	-
Share-based compensation
1,135	1,615	1,731	883	784	1,471	2,019	1,535	1,014	2,109	1,507	1,642	1,926	1,048	2,983	750	2,224	2,713	2,200	791	3,857	2,645	2,336	1,550	2,434	818	1,572	1,937	1,956	1,184	2,040	1,572	1,404	1,499	1,575	1,487
Excess share-based compensation tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10	0	96	267	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss/(gain) on derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,382	-1,211	-	-	-	-	-	-	-	-	-	-	-	-
Change in provisions for uncertain tax positions
-30	26	21	29	93	31	19	17	-3,554	68	68	68	63	56	72	88	117	136	224	19	-386	1,000	781	-3,921	82	94	-305	289	-533	-712	297	-2,056	437	108	68	540
(Benefit from)/provision for deferred income tax
-2,971	10,900	3,459	-17,607	-20,145	16,018	97	-9,611	-12,379	15,600	11,069	-14,595	-5,516	7,304	12,570	-14,482	-12,756	9,549	6,692	-14,731	553	5,607	3,224	-11,462	10,150	-3,379	5,764	-8,331	-1,536	-7,980	4,462	-6,274	11,351	4,104	1,763	-3,378
Other non-cash movements
565	1,856	1,430	-180	124	840	30	602	-1,206	471	836	466	-169	-924	-57	74	3,950	-752	895	-143	-	-	-	-	-	-	-	-	-	-2,268	491	-378	-	-1,898	1,463	-277
Effect of exchange rates on net (losses)/earnings
-2,687	-866	3,128	1,546	1,513	-54	1,213	-248	-1,547	-2,270	-4,716	-4,084	-1,100	-362	418	1,940	-2,579	-1,358	2,849	-3,430	186	2,331	-3,001	-3,355	1,546	2,817	-7,487	2,020	-	-	-	-	-	-	-	-
Change in assets and liabilities, net of effects from acquisitions:
Accounts receivable
-19,876	3,543	10,250	11,503	-6,449	-3,231	7,803	2,510	-5,965	895	2,425	684	-4,989	-446	1,955	4,016	-7,061	391	4,637	440	-7,463	-176	3,024	4,201	-11,091	-4,080	1,240	5,385	-	-	-	-	-	-	-	-
Increase in receivables, prepaid expenses and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-60	5,894	2,324	-	10,981	-8,165	5,492
Due from unconsolidated companies
-3,773	1,248	1,552	-1,319	-305	1,251	-896	369	-28	-537	436	917	-646	761	-896	-386	1,113	1,151	1,126	-606	1,160	994	1,800	-1,540	-1,163	-406	3,421	1,380	-8,847	-2,674	13,772	1,268	-2,303	1,685	100	-1,500
Prepaid expense and other
-1,440	641	1,446	628	-764	-523	-546	2,182	33	-1,118	-409	826	-1,204	1,508	-999	1,420	2,502	1,129	-4,475	3,344	-740	-896	995	1,641	-4,687	-1,248	-2,485	3,922	-	-	-	-	-	-	-	-
Inventories
-427	-124	1,068	-1,241	-825	-1,096	-253	-365	129	-673	144	904	70	-1,228	71	-875	-847	-554	-918	68	902	-969	1,944	-135	-703	-475	224	343	-406	-662	2,742	926	758	2,670	-115	-2,109
Escrow and prepaid customer deposits
-	-	-	-	-	-	-	-	-	967	-1,554	3,881	-3,796	3,649	118	1,313	-712	710	-967	1,584	-715	-606	-3,565	1,047	1,653	1,007	332	-1,771	-126	-123	1,577	-1,992	-	-	-	-
Accounts payable
-3,090	8,985	3,253	-2,159	-1,344	-447	3,915	-4,612	-71	1,466	3,427	-3,945	-5,004	-390	5,154	-5,463	1,576	-46	5,537	-3,889	1,477	-4,342	6,793	-5,248	-3,136	-896	3,988	-4,847	-	-	-	-	-	-	-	-
Accrued liabilities
-12,491	12,932	23,214	-2,274	-16,546	18,224	10,377	750	-11,310	5,241	5,344	970	-14,341	11,886	7,902	4,680	-13,607	8,165	1,934	1,449	-22,863	9,684	6,948	2,603	-22,197	4,303	7,305	1,244	-	-	-	-	-	-	-	-
Deferred revenue
-10,754	-2,925	884	21,295	-4,671	-6,798	-3,956	14,936	-5,491	-8,936	342	12,651	-10,679	4,926	-1,102	12,732	-10,802	979	-4,724	14,774	-7,300	-95	-3,974	14,998	-5,394	971	-5,594	14,418	-	-	-	-	-	-	-	-
Other, net
-970	-282	-61	385	-61	-613	9	-262	-678	274	37	219	832	1,415	764	-3	-5,426	-60	5,532	-94	2,820	-2,970	-1,611	1,354	4,648	2,286	-2,472	1,938	-	-	-	-	-	-	-	-
Other cash movements:
Dividends from equity method investees
1,110	1,110	1,110	960	1,260	1,110	1,110	960	1,431	956	956	1,106	960	810	1,069	810	810	1,295	810	810	2,788	3,751	651	651	-1,049	1,751	1,139	683	-	-	-	-	-	-	-	-
Proceeds from insurance settlements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-320	0	0	320	-	-	-	-	-	-	-	-
Payment of key money
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payment of swap termination costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,985	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in real estate assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,462	630	-1,076	-	-11,684	-9,278	5,724
Increase in payables, accrued liabilities, and deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,828	21,460	15,271	-	10,084	3,767	5,143
Net cash provided by operating activities from continuing operations
-10,416	64,557	32,888	-7,292	-16,793	48,839	24,060	-4,195	-7,092	47,594	21,993	-1,730	-12,488	43,409	39,358	-821	-10,007	43,964	30,957	-11,261	-18,430	52,243	37,202	-5,942	-9,214	34,651	29,443	-9,412	-9,129	15,280	37,585	2,289	14,494	34,154	32,591	-7,020
Net cash (used in)/provided by operating activities from discontinued operations
-2	-4	-2	-2	97	-3	-7	0	-13	-4	156	-101	-910	-381	-53	-190	-366	-749	-467	-735	2,463	41	552	-1,149	-208	-580	198	734	-589	-1,516	-95	-1,251	-12,561	5,011	-3,610	-5,911
Net cash provided by operating activities
-10,418	64,553	32,886	-7,294	-16,696	48,836	24,053	-4,195	-7,105	47,590	22,149	-1,831	-13,398	43,028	39,305	-1,011	-10,373	43,215	30,490	-11,996	-15,967	52,284	37,754	-7,091	-9,422	34,071	29,641	-8,678	-9,718	13,764	37,490	1,038	1,933	39,165	28,981	-12,931
Cash flows from investing activities:
Capital expenditure to acquire property, plant and equipment
40,205	42,996	52,296	30,583	24,818	15,597	15,420	11,995	14,548	13,480	16,063	11,013	13,788	11,242	14,523	16,842	10,973	12,441	22,042	17,998	14,320	13,989	17,652	20,685	28,099	24,441	25,436	19,072	20,178	13,915	11,408	14,408	21,302	9,124	22,412	11,740
Acquisitions, net of cash acquired
0	0	2	45,404	0	0	68,632	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,156	7,702	-8,584	6,643	117	0	0	46,285
Capital expenditure to acquire intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	8	0	0	706	-18	287	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in unconsolidated companies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-808	46	4,526	318	-791	1,519	3,814	990	916	213	2,894	835	-	-	-	-	-	-	-	-
Increase in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,357	1,244	-9,354	1,558	10,019	-438	-962	-2,442
Release of restricted cash
-	-	-	-	-	-	-	-	-	-	-	80	-87	106	378	122	3,742	682	17	6,883	6,538	1,925	-102	219	1,013	-39	39	0	3,116	0	-6,891	5,333	11,462	-3,105	-2,251	-4,440
Proceeds from insurance settlements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	200	-103	200	-234	0	169	65	0	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment and equity method investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	37,842	291	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities from continuing operations
-43,220	-42,547	-45,420	-75,987	-9,160	-15,597	-84,052	-11,995	-14,591	-12,924	-13,910	-10,933	-13,883	-10,483	24,383	-17,426	-10,431	-11,279	-27,267	26,609	-6,437	-13,594	-21,547	-21,391	-32,393	-31,121	-28,291	-19,907	-272	-20,373	20,205	-24,826	-49,829	-3,745	-1,281	-56,027
Net cash provided by investing activities from discontinued operations
-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	-50	-62	-40	18,964	24,336	41,017	2,245	21,057	-7,327	23,110	-3,497	-228	20,574	-2,731	-15,348	17,915
Net cash used in investing activities
-43,220	-42,547	-45,420	-75,987	-9,160	-15,597	-84,052	-11,995	-14,591	-12,924	-13,910	-10,933	-13,883	-10,483	24,383	-17,426	-10,431	-11,279	-27,267	26,609	-6,487	-13,656	-21,587	-2,427	-8,057	9,896	-26,046	1,150	-7,599	2,737	16,708	-25,054	-29,255	-6,476	-16,629	-38,112
Cash flows from financing activities:
Proceeds from working capital facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-382	382	-1,142	641	370	131	-	-	-	-	730	-2,544	-3,177	6,056
Repayments of revolving credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2	-2	4	133	-	-	-	-	-	-	-	-	161	491	-689	1,109	-517	5,292	-1,805	3,179
Repurchase of shares
-	-	-	-	-	-	-	-	0	0	0	1,992	10,178	10,868	16,519	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	123,878	0	0	138,000
Issuance costs of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	157	6,601	0	193	7,032
Exercised stock options and vested share awards
1	1	2	3	302	0	-1	4	0	1	13	3	2	1	15	17	15	2	1	1	2	2	2	1	0	1	0	2	-	-	-	-	-	-	-	-
Excess share-based compensation tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10	0	96	267	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividend to non-controlling interest
0	4	-1	13	0	0	0	0	8	0	0	7	0	0	0	20	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of long-term debt
17,131	0	48,000	39,951	-544,739	604,478	45,000	0	-	-	-	-	-	-	-	-	82	2,867	0	569,097	30,995	68,224	29,771	6,398	24,636	56,669	21,042	2,661	5,193	94,676	25,798	-458	377,751	-225	-847	9,586
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	432	1,112	3,323	12,931	1,641	1,832	197	635	-113	1,263	1,142	321	-	-	-	-	-	-	-	-
Principal payments under long-term debt
1,587	40,486	1,586	1,619	-543,144	546,145	983	1,670	1,352	1,345	9,865	1,342	1,347	1,345	1,329	1,411	1,390	1,727	1,959	559,975	36,125	67,449	10,570	10,300	13,811	70,960	17,401	19,200	17,845	111,480	71,954	8,515	446,729	4,980	47,898	7,756
Net cash provided by financing activities from continuing operations
15,512	-39,198	43,984	38,322	-1,229	48,630	44,016	-1,666	-1,411	-1,344	15,734	-3,338	-11,379	-12,212	-18,833	-1,414	-1,829	42	-5,285	-3,845	-6,369	-1,055	18,624	-4,154	9,796	-14,912	2,869	-16,727	-16,846	-17,295	-45,467	-10,239	39,446	-13,041	-50,310	135,675
Net cash provided by financing activities from discontinued operations
-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	6,757	0	0	-6,757
Net cash provided by financing activities
15,512	-39,198	43,984	38,322	-1,229	48,630	44,016	-1,666	-1,411	-1,344	15,734	-3,338	-11,379	-12,212	-18,833	-1,414	-1,829	42	-5,285	-3,845	-6,369	-1,055	18,624	-4,154	9,796	-14,912	2,869	-16,727	-16,846	-17,295	-45,467	-10,239	46,203	-13,041	-50,310	128,918
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-202	-1,872	-3,998	2,708	-1,323	5,400	2,515	528	-2,092	38	-425	1,487	-340	-2,423	1,342	-4,775	-1,075	-6,092	644	37	-768	1,951	-514	-367	-471	919	-1,418	667	6,044	6,132	-12,227	949	856	-637	-219	50
Net (decrease)/increase in cash, cash equivalents and restricted cash
-38,328	-19,064	27,452	-42,251	-28,408	87,269	-13,468	-17,328	-25,199	33,360	23,548	-14,615	-39,000	17,910	46,197	-24,626	-23,708	25,886	-1,418	10,805	-29,591	39,524	34,277	-14,039	-8,154	29,974	5,046	-23,588	-28,119	5,338	-3,496	-33,306	19,737	19,011	-38,177	77,925