GLOBAL BRASS & COPPER HOLDINGS, INC. BRSS Cash Flow

Global brass & copper holdings, inc. (BRSS)

CashFlow / Quarterly

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'13	Sep'13	Jun'13	Mar'13
Cash flows from operating activities
Net income
18,000	6,700	14,900	21,100	15,900	5,800	12,400	15,800	17,700	7,900	4,100	8,600	12,200	3,500	7,000	17,200	8,100	2,900	10,300	9,100	9,800	6,300	10,000	-17,100	11,500
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Lower of cost or market adjustment to inventory
-2,800	2,800	1,200	-200	-900	-2,800	-700	700	-800	400	-2,200	-200	300	1,800	2,300	600	1,900	0	0	100	100	-	-	-	-
Unrealized (gain) loss on derivatives
3,300	-1,500	-700	1,800	-2,400	300	300	-600	-800	900	-400	700	1,900	700	-800	-300	1,000	-2,700	100	-200	-200	-	-	-	-
Depreciation
5,600	5,500	5,300	5,200	5,100	5,000	4,500	4,500	4,500	3,800	3,700	3,700	3,600	3,500	3,400	3,300	3,300	3,400	3,500	3,000	2,300	2,500	2,100	2,000	1,900
Amortization of intangible assets
100	100	100	100	100	0	100	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount and issuance costs
300	300	300	300	300	300	400	300	300	300	400	600	700	700	700	700	700	700	700	700	600	600	700	600	600
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	0	-20,100	-400	-2,900	-800	-2,300	0	0	-	-	-	-	-	-	-	-
Share-based compensation expense
2,400	2,100	1,500	1,400	1,700	1,900	2,000	1,800	2,500	2,000	2,200	1,600	1,100	1,100	1,200	1,200	700	400	-300	1,300	300	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	100	100	-	-	-	-
Provision for bad debts, net of reductions
-100	200	200	500	-100	-200	-100	100	300	100	0	-100	-300	-100	-200	600	0	-	-	-	-	-	-	0	100
Deferred income taxes
800	-1,800	5,400	800	900	-	-	-	200	2,700	0	800	1,200	-1,500	-3,200	-1,800	-800	3,300	2,600	800	-300	1,400	-800	700	800
Loss on disposal of property, plant and equipment
-	-200	0	100	-200	0	0	0	0	-	-	-	-	-	-	-	-	0	0	100	-100	-	-	-	-
Equity earnings, net of distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	100	-200	300	-100	200	300	-200	300	500	400
Change in assets and liabilities, net of effects of business acquisition:
Accounts receivable
42,900	-33,600	2,800	-13,300	12,500	18,600	-7,400	-23,100	61,700	-12,100	9,000	-4,800	22,900	-34,900	-9,800	-26,300	39,600	-41,200	-1,500	-19,400	43,200	-26,900	-4,700	-17,100	55,800
Inventories
-4,900	2,600	-16,100	26,500	300	-2,800	7,300	26,900	-21,700	-1,900	-2,000	7,200	-16,300	-18,700	4,600	11,500	-2,200	-26,700	24,100	-3,900	5,600	-17,900	9,200	14,500	10,900
Prepaid expenses and other current assets
-400	-1,100	1,600	-900	-600	-2,300	1,400	300	-2,000	2,100	-2,000	-800	-1,800	600	-5,100	-11,600	6,800	5,600	-1,500	-7,800	10,700	-5,300	2,000	8,700	4,300
Accounts payable
20,100	-6,900	-20,000	16,200	9,200	10,300	-9,000	-1,000	18,600	10,600	-9,600	17,100	400	-23,500	-11,200	4,600	18,500	-25,900	0	-100	23,700	-19,400	-1,700	-11,800	37,400
Accrued liabilities
-13,100	7,000	900	6,400	-10,800	-2,700	2,000	4,800	-14,200	9,700	1,700	2,000	-12,500	1,100	1,400	-19,500	13,500	2,600	5,100	-19,400	13,000	-3,200	6,300	-1,900	6,200
Accrued interest
200	-	-	-	-	-	-	-	-100	-3,400	900	-7,400	7,100	-8,500	8,300	-8,900	8,900	-	-	-	8,900	-	9,100	-8,800	8,900
Income taxes, net
5,300	600	-4,800	2,700	1,600	4,700	-5,800	500	1,500	700	-3,000	-1,000	2,100	-2,700	1,000	3,400	4,000	-3,600	2,100	-1,400	-900	-3,300	1,400	200	-1,000
Other, net
400	-1,500	600	800	300	-600	-200	200	-400	500	200	-300	0	-	-	-	-	200	-500	-700	100	-700	-400	200	-100
Net cash provided by (used in) operating activities
-3,700	48,800	18,000	41,600	13,700	16,300	15,900	24,100	-7,100	46,300	14,100	23,500	12,100	28,900	24,300	21,900	13,800	39,800	11,300	15,400	-2,000	23,500	22,400	-12,800	-5,100
Cash flows from investing activities
Capital expenditures
6,900	8,800	4,700	5,200	7,500	6,300	5,900	4,700	7,800	11,600	8,500	6,700	7,600	8,400	5,400	2,600	5,000	3,900	5,400	5,400	8,700	13,000	4,900	5,200	3,100
Business acquisition
-	0	100	0	1,600	40,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	200
Net cash used in investing activities
-6,900	-8,700	-4,800	-5,200	-9,100	-46,200	-5,900	-4,700	-7,800	-11,500	-8,500	-6,700	-7,600	-8,400	-5,300	5,400	-5,000	-3,600	-4,700	-5,300	-8,700	-13,000	-4,900	-5,200	-2,900
Cash flows from financing activities
Borrowings on ABL Facility
200	200	300	200	200	200	200	200	200	200	400	200	400	300	300	300	300	3,300	70,900	66,300	107,900	83,600	107,400	136,400	93,400
Payments on ABL Facility
200	200	300	200	200	200	200	200	200	200	400	200	400	300	300	300	300	11,800	78,900	72,800	90,400	100,600	140,900	105,400	82,900
Payments on term loan
800	-	-	-	800	-	-	-	-	0	305,300	4,500	35,500	8,600	21,100	0	0	-	-	-	-	-	-	-	-
Principal payments under finance lease obligation
500	400	500	400	500	400	200	400	300	300	300	200	300	300	200	300	200	-	-	-	-	-	-	-	-
Premium payment on extinguishment of debt
-	-	-	-	-	-	-	-	-	0	14,500	300	2,200	700	1,800	0	0	-	-	-	-	-	-	-	-
Payments on term loan
-	-	-	-	-	800	9,500	800	800	800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
2,000	2,000	1,900	1,400	1,400	1,400	1,300	800	900	800	800	800	800	800	800	800	800	800	800	800	800	-	-	-	-
Distribution to noncontrolling interest owner
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	200	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	0	600	0	700	100	0	0	700	-	-	-	-	-	-	-	-	0	0	0	100	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	100	100	-	-	-	-
Share repurchases
1,500	12,600	0	0	3,400	0	100	200	4,800	0	0	400	400	0	0	200	100	-	-	-	-	-	-	-	-
Net payment from stockholder
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5,200	-300
Net cash used in financing activities
-4,800	-15,800	-2,600	-3,000	-5,400	-2,900	-2,600	-2,200	-6,100	-1,600	-9,300	-6,400	-39,200	-10,500	-23,900	-1,100	-1,300	-9,500	-8,800	-7,600	16,900	-17,800	-33,500	36,200	10,200
Effect of foreign currency exchange rates
200	100	-600	-200	-300	400	100	-200	-300	-400	200	-200	-100	0	0	100	0	500	200	0	-100	0	100	0	-300
Net increase (decrease) in cash
-15,200	24,400	10,000	33,200	-1,100	-32,400	7,500	17,000	-21,300	32,800	-3,500	10,200	-34,800	10,000	-4,900	26,300	7,500	27,200	-2,000	2,500	6,100	-7,300	-15,900	18,200	1,900
Noncash investing and financing activities
Purchases of property, plant and equipment not yet paid
1,600	1,200	0	-200	3,400	3,500	-800	700	1,600	-200	1,600	800	1,900	2,500	-900	1,700	1,000	2,700	-1,500	1,200	1,700	-	-	-	-
Acquisition of equipment under finance lease obligation
100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-