Badger meter, inc. (BMI)
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
Operating activities:
Net earnings

11,854

12,274

12,721

11,358

10,824

11,239

2,851

6,154

7,546

7,233

7,975

10,614

8,749

6,113

8,792

9,400

7,990

5,483

8,327

7,901

4,227

6,001

10,231

8,814

4,632

6,380

9,049

6,281

2,907

5,484

8,857

7,442

6,249

1,187

6,880

7,834

3,260

Adjustments to reconcile net earnings to net cash provided by operations:
Depreciation

2,975

2,881

2,625

3,085

2,978

2,558

2,902

2,719

3,175

2,977

3,082

3,079

2,918

2,238

2,874

2,810

2,793

2,226

2,579

2,986

2,202

1,949

2,092

2,376

2,474

2,055

2,140

2,126

2,191

1,815

1,849

1,789

2,134

1,686

1,665

1,865

1,928

Amortization

3,256

3,254

3,026

3,033

3,264

3,286

3,132

3,006

3,537

3,253

3,095

3,049

2,945

3,158

2,894

2,969

2,706

2,979

2,649

2,532

2,446

2,952

1,273

1,274

1,274

1,177

1,321

1,320

1,164

1,136

1,339

1,071

921

588

587

616

556

Deferred income taxes

392

-1,542

33

-14

-1

-5,401

73

58

1

-3,912

-135

-41

-12

566

13

22

109

-3,033

10

135

-135

-1,236

-9

-23

-66

1,507

-7

-14

-24

-624

-39

49

63

-734

-51

-6

-9

Noncurrent employee benefits

88

110

117

-384

117

203

177

-10

94

1,320

-1,147

426

115

-11

234

234

203

961

24

128

148

3,484

1,071

-25

-113

807

184

146

255

-473

113

-207

689

3,228

-336

870

942

Stock-based compensation expense

307

332

328

289

265

800

2,430

473

471

534

412

413

366

400

385

390

362

380

380

410

371

360

413

313

363

680

434

1

273

345

345

292

284

634

294

261

281

Changes in:
Receivables

-1,385

-896

1,473

-7,971

1,943

-3,463

4,697

1,846

4,919

-7,074

4,287

-2,204

5,958

2,285

-3,376

2,341

2,311

-2,888

-99

8,608

-110

-7,726

-2,232

6,183

4,772

-6,293

3,168

5,278

1,838

-8,226

1,931

822

4,661

-2,020

-2,103

7,643

-2,904

Inventories

-7,437

-3,039

1,694

2,731

-166

-3,450

-1,242

98

-265

8,096

2,830

2,664

-7,423

-4,454

1,721

4,462

-2,684

3,133

3,624

-333

692

3,389

1,296

-740

2,998

6,489

631

-4,922

-2,445

701

-953

3,333

1,662

1,625

26

-5,356

3,663

Payables

4,517

757

1,744

4,601

4,540

-7,400

-1,213

3,224

-4,479

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

609

1,926

1,860

1,845

2,101

-511

2,472

1,515

1,586

1,657

846

915

2,819

725

358

347

-469

400

229

1,408

-405

1,648

364

694

-646

-186

167

67

-416

1,378

-489

-229

245

-487

48

-327

1,616

Other liabilities

-1,064

-500

4,669

-2,275

-294

7,758

-213

-309

2,670

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liabilities other than debt

-

-

-

-

-

-

-

-

-

-

4,090

8,772

-1,319

2,094

-3,002

870

3,146

2,684

-4,603

7,995

-2,302

-8,650

547

4,823

-859

-6,523

4,390

1,455

-3,481

-3,047

-935

-2,641

6,435

-2,615

-2,422

3,141

611

Total adjustments

18,684

7,301

7,515

11,730

6,991

9,228

11,833

12,270

-771

-3,411

609

14,323

3,659

9,889

3,695

145

10,161

5,552

-2,715

4,503

2,553

1,548

5,959

2,601

-4,051

-307

4,496

4,611

1,401

5,299

1,086

-3,573

3,958

3,669

1,766

4,787

1,934

Net cash provided by operations

30,538

19,575

20,236

23,088

17,815

20,467

14,684

18,424

6,775

3,822

8,584

24,937

12,408

16,002

12,487

9,545

18,151

11,035

5,612

12,404

6,780

7,549

16,190

11,415

581

6,073

13,545

10,892

4,308

10,783

9,943

3,869

10,207

4,856

8,646

12,621

5,194

Investing activities:
Property, plant and equipment expenditures

1,942

1,907

1,123

2,306

2,160

1,424

1,977

2,199

3,043

3,515

4,792

2,956

3,806

2,747

2,336

2,266

3,247

6,894

5,268

4,407

3,197

3,556

3,131

2,317

3,328

4,995

3,775

2,738

2,803

3,678

2,111

1,119

1,294

1,640

1,330

750

1,616

Acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

2,000

0

18,176

200

1,800

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

1

0

1,256

50,261

0

0

0

3,954

Net cash used for investing activities

-1,942

-1,907

-1,123

-2,306

-2,160

-1,424

-1,977

-10,247

-3,043

-5,515

-4,792

-21,132

-4,006

-4,547

-2,336

-2,266

-3,247

-8,428

-5,641

-4,407

-3,197

-22,885

-3,131

-3,817

-3,328

-5,932

-8,358

-12,619

-2,803

-3,679

-2,111

-2,375

-51,555

-1,640

-1,330

-750

-5,570

Financing activities:
Net decrease in short-term debt

-

0

0

-6,500

-7,000

-12,579

-6,433

-5,500

3,500

4,965

-750

2,035

126

-11,386

-3,900

-7,450

-10,360

4,201

-5,689

-3,050

578

14,607

-6,600

-5,138

3,784

4,853

-1,200

2,302

-2,750

-4,518

-6,685

13,946

62,393

-1,350

-3,362

-8,039

858

Payment of contingent acquisition consideration

-

905

0

650

1,000

0

2,034

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

4,938

4,943

4,935

4,360

4,357

4,370

4,353

3,772

3,770

3,771

3,771

3,337

3,336

3,335

3,335

2,899

2,892

2,892

2,891

2,745

2,733

2,733

2,732

2,588

2,580

2,578

2,575

2,430

2,421

2,406

2,431

2,287

2,389

2,408

2,408

2,106

2,101

Proceeds from exercise of stock options

478

998

215

277

471

510

702

0

231

48

153

360

654

59

447

0

62

371

0

1,143

127

173

7

133

417

370

286

364

620

91

82

22

187

-15

17

156

78

Tax benefit on stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-155

-23

270

49

-123

11

5

145

19

0

0

363

74

108

12

103

24

25

80

61

Repurchase of treasury stock

2,467

1,849

521

964

1,873

344

2,462

370

1,619

725

389

1,046

2,242

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

12,987

17,013

-

-

-

-

Issuance of treasury stock

55

45

45

45

52

-6

98

366

65

6

61

444

89

11

435

0

72

-25

38

397

60

46

39

318

66

48

-30

333

147

47

39

346

45

25

51

391

26

Net cash used for financing activities

-6,872

-6,654

-5,196

-12,152

-13,707

-16,789

-14,482

-9,276

-1,593

523

-4,696

-1,544

-4,709

-14,651

-6,353

-10,349

-13,118

1,502

-8,567

-3,985

-1,919

11,970

-9,275

-7,270

1,832

2,712

-3,519

569

-4,041

-6,712

-8,887

-948

43,326

-3,724

-5,677

-9,518

-1,078

Effect of foreign exchange rates on cash

-219

129

-83

231

-1

203

279

-308

229

-1,060

448

278

280

-135

5

0

-13

-21

-5

291

53

-344

-176

22

60

-211

239

85

-231

106

600

-696

-292

-304

-125

-397

682

Increase in cash and cash equivalents

21,505

11,143

13,834

8,861

1,947

2,457

-1,496

-1,407

2,368

-2,230

-456

2,539

3,973

-3,331

3,803

-3,070

1,773

4,088

-8,601

4,303

1,717

-3,710

3,608

350

-855

2,642

1,907

-1,073

-2,767

498

-455

-150

1,686

-812

1,514

1,956

-772

Supplemental disclosures of cash flow information:
Cash paid during the year for: