Babcock & wilcox enterprises, inc. (BW)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Cash flows from operating activities:
Net loss

-31,622

5,458

-56,990

-27,641

-49,866

-233,325

-105,594

-265,603

-120,335

-107,235

-114,089

-150,850

-6,841

-71,286

9,011

-63,400

10,593

-5,230

6,285

5,541

12,741

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization of long-lived assets

4,208

4,482

5,281

6,536

7,306

7,516

7,549

7,868

9,070

9,101

9,572

9,883

11,582

12,170

14,972

6,148

6,293

6,047

7,427

9,866

11,592

Amortization of deferred financing costs, debt discount and payment-in-kind interest

9,877

18,996

19,070

17,420

5,695

15,606

2,885

2,285

4,951

3,217

2,426

419

345

1,244

0

-311

311

-

-

-

-

Non-cash operating lease expense

1,223

1,222

1,273

1,318

1,543

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from equity method investees

-

-

-

-

-

153

0

0

6,605

3,513

1,234

2,961

618

11,553

2,827

-616

2,676

-185

2,235

-221

-2,071

Other-than-temporary impairment of equity method investment in TBWES

-

-

-

-

-

0

0

0

18,362

0

0

18,193

0

-

-

-

-

-

-

-

-

Gains on asset disposals

915

3,716

266

-42

0

609

12

-1,407

-527

-1,328

-429

541

-655

-32

-425

-14,481

0

-

-

-

-

Benefit from deferred income taxes, including valuation allowances

-424

-133

54

-601

-175

353

99,184

-2,533

1,056

52,404

-774

-303

-1,023

-

-

-

-

-

-

-

-

Provision for (benefit from) deferred taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-989

-6,659

35

-

-1,485

-4,289

4,289

Mark to market (gains) losses and prior service cost amortization for pension and postretirement plans

246

10,554

497

-348

-42

-70,123

5,463

710

439

10,389

619

789

-189

-5,700

-660

-29,995

9

-40,311

-100

-100

-100

Stock-based compensation, net of associated income taxes

880

1,243

1,232

205

404

252

972

877

153

3,290

2,001

2,292

4,230

2,230

3,244

5,737

4,918

5,291

2,482

0

0

Changes in assets and liabilities:
Accounts receivable

-10,599

-22,640

-47,039

5,957

-192

-34,997

-4,738

-23,304

-17,337

-8,039

4,968

-12,176

5,833

2,327

394

-31,983

-17,493

31,560

54,579

-13,058

-18,274

Contracts in progress

-7,690

-

-

-

-8,729

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advance billings on contracts

7,321

-

-

-

-1,165

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contracts in progress and advance billings on contracts

-

-

-

-

-

-

10,749

12,163

18,331

30,683

22

-51,827

45,123

-40,724

32,299

-24,429

46,113

-14,422

-43,379

28,026

-33,196

Inventories

-1,286

-2,430

2,620

712

3,239

-5,140

728

-1,659

-4,266

-9,157

664

-1,765

-1,616

-10,859

3,244

3,748

998

-5,532

135

-1,267

604

Income taxes

-1,888

-347

325

1,344

-49

1,524

-2,830

-14,162

10,126

17,422

10,095

-4,237

3,338

16,297

8,733

-2,037

-400

21,510

-10,160

3,998

-6,073

Accounts payable

-26,451

-9,175

-39,596

-36,282

4,594

7,945

2,798

-12,065

-3,038

-20,178

-19,940

26,304

-850

36,932

4,394

-20,760

-16,024

25,686

3,546

10,210

-21,579

Accrued and other current liabilities

6,110

-2,004

-5,427

-22,150

6,480

9,905

8,498

24,116

-3,785

-14,038

-29,850

47,556

-33,717

9,692

-7,316

2,243

1,340

-15,408

34,607

-9,164

1,429

Accrued contract loss

-2,593

-834

-4,041

-14,876

-30,903

20,114

-8,303

2,797

6,923

-

-

-

-

-

-

-

-

-

-

-

-

Pension liabilities, accrued postretirement benefits and employee benefits

10,258

10,596

5,640

-484

594

9,647

11,750

7,939

9,640

16,624

14,920

10,579

2,461

25,767

12,554

-6,325

14,977

-4,739

-162

244

6,993

Other, net

-4,384

16,539

-24,129

18,898

-10,980

16,718

4,313

-10,443

-4,565

7,009

-6,550

7,080

251

12,843

-9,258

2,927

-2,270

-9,464

536

9,947

-3,989

Net cash used in operating activities

-35,461

24,800

-8,106

-155,315

-37,696

-68,393

-62,849

-65,806

-84,837

-

-

-

-

-

-

-

-

-

-

-

-

Net cash from operating activities

-

-

-

-

-

-

-

-

-

-

-69,104

-6,925

-74,762

-

-23,926

22,115

-37,944

77,351

37,418

3,198

52,432

Cash flows from investing activities:
Purchase of property, plant and equipment

2,394

2,170

1,200

146

288

454

669

1,146

3,204

3,612

2,925

3,282

4,459

2,074

6,769

9,564

4,043

13,466

6,716

9,439

5,776

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

-

-

-

-

-

-

0

0

0

52,547

1,800

142,980

0

0

-

-

-

-

Proceeds from sale of business

-

-

-

-

-

111,096

38,815

0

5,105

0

0

0

0

-

-

-

-

-

-

-

-

Proceeds from sale of equity method investments in joint venture

-

-

-

-

-

0

7,686

0

21,078

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in restricted cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,671

-320

908

-2,215

Purchases of available-for-sale securities

6,352

5,445

-718

-1,849

6,036

17,013

6,440

1,771

9,612

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Purchases of available-for-sale securities

-

-

-

-

-

-

-

-

-

-

-

-

13,831

-

13,995

8,761

7,982

4,073

5,016

502

4,417

Sales and maturities of available-for-sale securities

3,420

6,415

2,252

1,923

957

17,004

4,638

4,127

9,451

4,414

5,181

6,144

15,696

8,860

9,262

5,181

6,543

-731

4,350

1,373

274

Other, net

-831

-2,887

-80

557

-95

-913

568

-22

-167

-647

-151

197

-107

-1,202

-6

-116

678

-

-

-

-

Net cash used in investing activities

-4,495

1,687

1,850

10,514

-5,272

111,546

43,462

1,232

22,985

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from asset disposals

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash from investing activities

-

-

-

-

-

-

-

-

-

-

-165

-3,832

-55,034

-

-149,220

-36,234

-6,160

-20,814

-7,858

-9,476

-7,704

Cash flows from financing activities:
Increase in short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net transfers from our former Parent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

105,658

-25,069

Shares of our common stock returned to treasury stock

9

73

21

1

22

39

20

26

720

40

54

29

844

19

26,084

16,023

36,284

24,133

1,275

0

0

Debt issuance costs

5,749

1,110

1,109

7,725

6,675

14,280

1,344

1,295

5,441

-

-

-

-

-

-

-

-

-

-

-

-

Debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Other, net

550

-

-

-

0

-

-

-

-78

-784

273

767

-1,338

920

-936

-228

-2

-235

-218

-37

-1

Net cash from financing activities

30,792

-14,024

5,902

142,037

33,103

-51,728

12,284

50,573

71,483

-

-

-

-

-

-

-

-

-

-

-

-

Effects of exchange rate changes on cash

-1,392

1,133

-671

-3,352

72

-964

5,670

-1,816

-5,210

-

-

-

-

-

-

-

-

-

-

-

-

Net cash from financing activities

-

-

-

-

-

-

-

-

-

-

51,990

27,503

76,044

-

-13,157

-16,251

-35,221

-25,448

-1,493

105,621

-25,070

Effects of exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-

1,364

2,724

1,325

-

369

-5,445

950

-47

-1,479

2,038

-6,919

Net decrease in cash, cash equivalents and restricted cash

-

-

-

-

-

-

-

-

-

-

-15,915

19,470

-52,427

-

-185,934

-35,815

-78,375

31,042

26,588

80,998

7,905

Cash flow from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,042

26,588

101,381

12,739

Operating cash flows from discontinued operations, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-20,471

-4,723

Investing cash flows from discontinued operations, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

88

-111

Less net increase in cash and cash equivalents of discontinued operations

-

-

-

-

-

17,646

-7,209

1,234

1,279

-

-

-

-

-

-

-

-

0

0

-20,383

-4,834

Net decrease in cash, cash equivalents and restricted cash

-10,556

-

-

-

-9,793

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash, cash equivalents and restricted cash of continuing operations

-

-

-

-

-

-

-

-12,025

3,142

-

-

-

-

-

-

-

-

-

-

-

-

U.S. Revolving Credit Facility
Borrowings under credit facilities

70,200

39,683

72,217

108,500

71,200

118,800

139,100

150,200

157,100

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of lines of credit

64,200

52,383

64,917

99,400

40,800

164,500

144,800

130,944

74,356

-

-

-

-

-

-

-

-

-

-

-

-

Last Out Term Loan Tranche A-2
Borrowings under credit facilities

0

-

-

-

10,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Last Out Term Loan Tranche A-4
Borrowings under credit facilities

30,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign Revolvers
Repayments of lines of credit

0

0

0

5

600

1,715

585

0

5,022

-

-

-

-

-

-

-

-

-

-

-

-

Last Out Term Loans - cash interest
Borrowings under our last out term loan from related party

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-