Bmc stock holdings, inc. (BMCH)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11
Cash flows from operating activities
Net income

109,845

119,738

57,425

30,880

-4,831

94,032

21,655

-14,533

-42,133

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense

54,100

50,400

53,200

47,959

20,963

15,457

12,457

10,299

15,257

Amortization of intangible assets

18,000

15,000

16,000

20,721

3,626

0

1,310

1,470

1,457

Amortization of debt issuance costs

1,441

1,684

1,684

3,114

2,525

2,277

1,303

902

1,553

Deferred income taxes

-12,161

-1,266

-2,318

3,571

5,892

70,492

0

3,633

5,926

Non-cash stock compensation expense

12,462

11,315

6,769

7,252

2,749

3,410

2,425

1,305

384

Gain on sale of property, equipment and real estate

1,973

3,321

1,683

1,396

497

804

772

-169

2,609

Amortization of original issue discount

-

-

-

-

-

257

57

-

-

Insured Event, Gain (Loss)

107

0

2,000

1,003

0

0

-

-

-

Impairment of assets

-

-

-

11,928

0

134

73

481

610

Gain (Loss) on Extinguishment of Debt

-

-

-

-12,529

0

0

-

-

-

Amortization of inventory step-up charges

-

-

-

2,884

10,285

0

0

-

-

Other non-cash adjustments

-3,769

-613

-987

-98

-244

0

-

-

-

Gain on reduction of earnout liability

-

-

-

-

-

-

-

0

0

Bad debt expense

-

-

-

-

-

-

-

2,333

1,753

Change in assets and liabilities, net of effects of acquisitions
Accounts receivable, net of allowances

-846

-16,078

3,252

10,128

24,061

6,299

10,680

27,026

677

Inventories

-68

-3,257

32,297

31,200

16,452

15,927

14,028

22,712

-14,593

Contract assets

-

-

-

0

-

-

-

-

-

Costs in excess of billings on uncompleted contracts

-

-

-

3,845

4,026

-276

1,554

1,288

1,165

Income taxes payable/receivable

-

-

-

9,627

-8,176

0

-

12,110

8,920

Prepaid expenses and other current assets

-

-

-

12,208

1,202

9,163

3,743

784

-1,022

Other long-term assets

-

-

-

126

-1,240

1,688

-453

-2,314

5,771

Accounts payable

52,364

-51,348

3,477

28,592

873

9,666

3,777

24,821

-1,162

Accrued expenses and other liabilities

-

-

-

-5,859

4,377

1,633

18,810

1,798

-699

Contract liabilities

-

-

-

0

-

-

-

-

-

Restructuring reserve

-

-

-

-

-

-

-

1,125

-462

Billings in excess of costs on uncompleted contracts

-

-

-

-197

8,360

1,776

-343

131

47

Interest on subordinate note

-

-

-

-

-

-

-16,840

-

-

Insurance reserves

-

-

-

-16

7,973

6,165

997

-

-

Other long-term liabilities

-

-

-

853

2,665

22

0

-1,525

8,007

Other assets and liabilities

17,176

-45,355

8,720

-

-

-

-

-

-

Net cash provided by operating activities

245,853

210,025

93,934

106,888

743

30,732

15,357

-12,243

-7,001

Cash flows from investing activities
Purchases of businesses, net of cash acquired

124,412

20,970

38,438

0

149,485

236

6,705

5,732

0

Purchases of property, equipment and real estate

89,392

55,174

63,278

38,067

31,319

28,275

15,057

2,741

1,339

Proceeds from sale of property, equipment and real estate

4,880

11,432

13,445

3,187

3,280

1,919

4,554

1,393

6,106

Insurance proceeds

107

1,991

0

1,151

0

0

-

-

-

Proceeds from sale of business

0

7,773

0

0

-

-

-

-

-

Change in restricted assets

-

-

-

-

-36,106

-10,326

46,432

-3,069

-2,555

Cash acquired in the Merger

-

-

-

-

6,342

0

0

-

-

Other investing activities

-

-

-

-

-

-4

359

-

-

Loan to seller of Total Building Services Group, LLC

-

-

-

-

-

-

-

850

0

Net cash used in investing activities

-208,817

-54,948

-88,271

-33,729

-135,076

-16,262

-63,999

-4,861

7,322

Cash flows from financing activities
Proceeds from revolving credit facility

110,987

854,946

995,306

1,544,064

293,183

0

338,618

1,042,850

787,394

Repayments of proceeds from revolving credit facility

110,987

859,408

990,844

1,696,324

208,637

0

378,618

1,004,482

766,544

Tax benefits related to stock based compensation

-

-

-

-

-

1,014

2,553

0

-

Repurchases of common stock under share repurchase program

16,446

2,891

0

0

1,454

1,607

461

-

-

Payments on finance lease obligations

6,697

7,759

9,926

-

-

-

-

-

-

Repurchases of common stock related to equity award activity

1,712

2,044

977

2,023

-

-

-

-

-

Acquisition-related post-closing payments, net

1,028

370

0

0

-

-

-

-

-

Earnout payments

628

0

0

-

-

-

-

-

-

Loans from related parties

-

-

-

-

-

-

-

11

134

Sale of Class B Senior Preferred stock

-

-

-

-

-

-

-

328

0

Dividends paid on Class B Senior Preferred stock

-

-

-

-

-

-

-

10,628

0

Payments of Debt Issuance Costs

901

0

38

7,011

3,567

10

10,785

555

0

Holdback payment related to acquisition

-

-

-

-

-

-

-

0

-

Payments on finance lease obligations

-

-

-

8,800

4,542

3,813

2,407

1,311

1,511

Principal payments on other notes

0

336

2,627

3,303

6,081

5,999

2,415

-

-

Proceeds from issuance of Senior Notes

-

-

-

350,000

0

0

248,778

-

-

Redemption of Extinguished Senior Notes

-

-

-

250,000

0

0

-

-

-

Proceeds from issuance of common stock, net of offering costs

-

-

-

13,776

0

0

-

0

0

Secured borrowings

2,445

431

2,880

1,427

767

0

0

997

665

Redemption of Class B Senior Preferred stock

-

-

-

-

-

-

-

12,372

0

Redemption of Class A Junior Preferred stock and Class A Common stock

-

-

-

-

-

-

-

-

25,000

Cash received from stockholder

-

-

-

-

-

-

-

-

5,000

Exercise of stock options

2,704

1,327

3,396

1,301

0

0

-

0

-

Payments of debt extinguishment costs

-

-

-

8,438

0

0

-

-

-

Principal payments on subordinate term note

-

-

-

-

-

-

102,825

-

-

Borrowings under other notes

-

-

-

-

2,491

9,991

3,660

-

-

Net cash provided by (used in) financing activities

-22,263

-16,104

-2,830

-65,331

72,160

-424

96,098

14,838

138

Net increase in cash and cash equivalents

14,773

138,973

2,833

7,828

-62,173

14,046

47,456

-2,266

459

Supplemental disclosure of cash flow information
Interest paid

21,715

22,361

24,210

28,081

23,970

24,351

27,859

3,046

1,165

Cash paid for income taxes, net

32,884

31,260

22,858

8,210

4,310

12,917

1,025

244

2,049

Income tax refunds received

-

-

-

-

-

-

-

16,399

24,782

Supplemental disclosure of non-cash investing and financing transactions
Accrued purchases of property and equipment

8,333

1,963

811

505

1,968

0

0

0

0

Acquisition-related holdback payments due at future date

8,478

1,403

375

0

-

-

-

-

-

Non-cash fixed asset additions

-

-

-

-

-

-

-

0

-

Sale of assets in exchange for note receivable

-

-

-

-

-

-

-

0

0

Assets acquired under capital lease obligations

-

821

2,481

15,089

2,342

3,929

9,966

6,135

1,401

Consideration transferred in connection with the Merger

-

-

-

-

453,390

0

0

-

-

Disposal of capital lease assets

-

-

-

-

-

-

-

0

198

Reclassification and conversion of preferred stock to common stock in connection with the IPO

-

-

-

-

-

-

-

0

0

Dividends accrued on Class B Preferred stock

-

-

-

-

-

-

-

4,480

-4,188

Issuance of Convertible Class C Preferred stock

-

-

-

-

-

-

-

5,000

0

Dividends on Convertible Class C Preferred stock

-

-

-

-

-

-

-

5,000

0

Beneficial conversion feature on Class C Convertible Preferred stock

-

-

-

-

-

-

-

5,000

0

Issuance of Class B common stock

-

-

-

-

-

-

-

107

0

Fair value of earnout agreement

-

-

-

-

-

-

-

1,075

0