GLOBAL BRASS & COPPER HOLDINGS, INC. BRSS Cash Flow

Global brass & copper holdings, inc. (BRSS)

CashFlow / Yearly

Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11
Cash flows from operating activities
Net income
58,600	51,700	32,800	35,800	32,100	10,700	12,900	55,300
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Lower of cost or market adjustment to inventory
2,900	-3,600	-1,700	6,600	200	300	300	-
Unrealized (gain) loss on derivatives
-2,800	-800	3,100	600	-3,000	200	1,600	-
Mark to market on commodity contracts
-	-	-	-	-	-	-	-1,100
Mark to market on interest rate cap agreements
-	-	-	-	-	-	-200	-1,900
Depreciation
21,100	18,500	14,800	13,500	12,200	8,500	6,800	4,500
Amortization of intangible assets
400	100	100	100	100	100	100	200
Amortization of debt discount and issuance costs
1,200	1,300	2,000	2,800	2,700	2,500	4,600	4,700
Term loan call premium
-	-	-	-	-	-	6,400	-
Gain (Loss) on Extinguishment of Debt
-500	-200	-23,400	-3,100	0	0	-19,600	-
Uncertain tax positions
0	2,100	0	0	-	-	-	-
Profits interest compensation expense
-	-	-	-	-	29,300	19,500	900
Share-based compensation expense
6,700	8,200	6,900	4,200	1,700	1,200	-	-
Excess tax benefit from share-based compensation
-	-	-	-	200	0	-	-
Provision for bad debts, net of reductions
800	100	-300	300	0	-200	800	4,200
Deferred income taxes
5,300	18,000	4,700	-7,300	6,400	2,100	5,200	10,500
Loss on disposal of property, plant and equipment
-300	0	-100	-400	0	0	-	-
Gain on sale of investment in joint venture
-	-	-	6,300	0	0	-	-
Equity earnings, net of distributions
-	-	-	-100	700	1,000	-	900
Distributions from equity method investment
-	-	-	-	-	-	-	500
Change in assets and liabilities, net of effects of business acquisition:
Accounts receivable
-31,600	49,800	15,000	-31,400	-18,900	7,100	1,600	-3,800
Inventories
13,300	9,700	-13,000	-4,800	-900	16,700	-11,500	-6,600
Prepaid expenses and other current assets
-1,000	-2,600	-2,500	-9,300	7,000	9,700	-4,700	-18,300
Accounts payable
-1,500	18,900	18,500	-11,600	-2,300	4,500	2,300	-
Accrued liabilities
3,500	-10,100	900	-3,500	1,300	7,400	500	-37,000
Accrued interest
-100	-	-2,800	-200	-100	-	-800	-100
Income taxes, net
100	900	-1,200	5,700	-3,800	-2,700	3,700	-2,700
Other, net
200	-1,000	400	300	-900	-1,000	-600	1,400
Net cash provided by (used in) operating activities
122,100	49,200	96,000	88,900	64,500	28,000	80,100	64,800
Cash flows from investing activities
Capital expenditures
26,200	24,700	34,400	21,400	23,400	26,200	18,600	22,400
Business acquisition
1,700	40,000	0	0	-	-	-	-
Proceeds from sale of property, plant and equipment
100	100	100	100	1,100	200	-	100
Proceeds from sale of investment in joint venture
-	-	-	8,000	0	0	-	-
Net cash used in investing activities
-27,800	-64,600	-34,300	-13,300	-22,300	-26,000	-18,600	-22,300
Cash flows from financing activities
Deferred financing fees
-	-	-	-	-	-	12,900	1,700
Proceeds from senior secured notes
-	-	-	-	-	-	375,000	-
Borrowings on ABL Facility
900	800	1,200	1,200	248,400	420,800	204,300	168,000
Payments on ABL Facility
900	800	1,200	1,200	253,900	429,800	189,800	168,000
Payments on term loan
0	0	345,300	29,700	0	0	-	-
Principal payments under finance lease obligation
1,800	1,300	1,100	1,000	200	0	-	900
Premium payment on extinguishment of debt
0	0	17,000	2,500	0	0	-	-
Payments of debt issuance costs
400	200	5,400	0	0	-	-	-
Proceeds from term loan, net of discount
25,400	8,700	316,800	0	0	-	-	-
Payments on term loan
28,600	11,900	800	0	0	-	310,900	3,300
Distribution to stockholder
-	-	-	-	-	-	160,000	-
Dividends paid
6,700	4,400	3,200	3,200	3,200	800	-	-
Distribution to noncontrolling interest owner
0	400	200	200	0	0	-	-
Proceeds from exercise of stock options
1,300	800	500	100	100	0	-	-
Excess tax benefit from share-based compensation
-	-	-	-	200	0	-	-
Share repurchases
16,000	5,100	800	300	400	0	-	-
Net payment from stockholder
-	-	-	-	-	4,900	-2,500	-2,400
Net cash used in financing activities
-26,800	-13,800	-56,500	-36,800	-9,000	-4,900	-96,800	-8,300
Effect of foreign currency exchange rates
-1,000	0	-500	100	600	-200	-300	-200
Net increase (decrease) in cash
66,500	-29,200	4,700	38,900	33,800	-3,100	-35,600	34,000
Noncash investing and financing activities
Purchases of property, plant and equipment not yet paid
4,400	5,000	4,100	4,300	4,100	4,700	5,300	-
Acquisition of equipment under finance lease obligation
400	0	0	-	6,000	0	-	-
Supplemental disclosure of cash flow information
Interest, net of amount capitalized
16,900	16,800	27,000	36,500	37,000	37,300	35,800	33,600
Income taxes, net of refunds
12,400	12,600	13,300	17,500	14,400	22,900	10,200	24,000