Bwx technologies, inc. (BWXT)
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
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income

75,620

61,569

74,998

59,000

49,110

22,081

78,077

60,734

66,413

-15,533

46,692

61,420

55,786

34,174

41,207

58,497

49,734

-310

104,034

-17,319

45,041

-103,592

60,403

23,492

41,154

160,992

57,021

69,701

44,876

36,896

49,256

74,336

57,069

-29,295

39,905

46,341

13,667

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

15,614

15,694

15,195

15,711

15,122

16,405

15,272

14,359

14,061

14,422

13,936

14,223

13,976

13,464

12,421

12,764

11,905

13,611

13,295

25,272

26,443

48,398

22,347

18,040

17,013

19,184

17,485

16,498

17,358

16,879

17,288

17,815

17,715

17,510

17,718

18,460

19,315

Income of investees, net of dividends

1,929

-673

2,328

3,354

2,960

-365

5,087

1,085

2,299

-1,789

256

792

-1,779

-5,066

2,670

3,000

413

-2,168

1,527

-781

-525

-1,843

-25,437

3,823

4,694

-29,956

-405

11,239

7,585

-11,340

8,698

10,864

6,893

-10,174

14,339

12,857

3,832

Gains on asset disposals and impairments, net

-

-

-

-

-

-

-

-

-

-

2

31

0

-

-

-

-

0

0

-26,426

-15

-

-

-

-

-

-

-156

69

319

-2,620

622

260

2,461

705

-89

10

Gain on deconsolidation of Generation mPower LLC

-

-

-

-

-

-

-

-

-

-

-

-

-

29

0

0

13,571

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

In-kind research and development costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

0

1,657

4,173

4,505

3,920

4,349

3,020

4,465

4,737

5,096

3,644

-

-

-

-

Recognition of losses for pension and postretirement plans

-777

-4,278

-649

-648

-647

-68,253

34,692

-488

-505

-11,503

-428

-446

-446

-21,718

-409

-407

-406

-50,518

-408

-2,669

-510

-231,184

-11,763

-595

-594

222,180

-754

-710

-801

-

-

-

-

-

-

-

-

Amortization of pension and postretirement costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

974

778

779

-

18,355

20,547

20,474

Stock-based compensation expense

3,102

3,587

2,787

3,823

2,529

3,364

2,764

1,294

4,461

5,343

2,781

3,686

3,412

6,998

2,343

3,561

2,469

6,594

2,661

15,463

6,981

11,675

4,375

2,777

4,634

15,934

3,996

4,802

4,274

18,242

4,507

5,065

3,983

4,956

3,276

4,842

4,853

Other, net

283

-

-

-

-1,663

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

403

22

-44

-

16

-208

760

113

61

-10

13

130

5

30

1,406

-86

-187

325

4,031

Changes in assets and liabilities:
Accounts receivable

2,092

-12,530

3,761

-1,024

-5,812

-14,186

-20,067

24,358

-27,387

16,711

17,594

-40,999

41,153

-32,949

27,041

-25,925

3,263

-40,367

47,163

-29,554

-17,336

-12,140

55,585

24,163

-17,528

-64,389

7,234

23,672

13,757

-9,794

19,246

14,085

28,497

-37,150

-8,244

41,068

31,213

Accounts payable

-21,158

26,468

6,933

9,579

1,612

-173

5,896

-14,363

10,528

3,502

15,927

-12,902

-14,003

16,914

-7,650

9,165

1,120

9,840

-16,115

23,738

-41,448

34,227

14,200

-47,307

-82,164

49,590

-667

-14,333

20,305

-7,240

19,271

28,519

-10,159

14,632

17,673

9,925

6,016

Retainages

15,760

-23,818

9,739

-11,347

13,949

-44,623

5,825

3,443

10,444

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contracts in progress and advance billings on contracts

35,941

-33,015

42,111

25,814

43,735

-1,037

-18,853

-20,251

74,153

-38,235

-906

-1,021

4,890

-12,445

-3,126

27,654

48,390

1,846

-63,130

6,667

-2,557

24,186

22,072

-31,655

83,797

69,720

59,291

10,796

70,775

-137,359

58,950

14,885

30,997

1,591

15,658

55,825

-44,328

Inventories

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,528

-2,584

-3,082

-1,412

1,049

-5,744

-5,864

-8,279

14,696

3,965

6,066

-1,856

5,000

4,444

-1,536

Income taxes

20,332

1,297

1,054

-13,743

7,559

23,254

-34,209

-6,800

-5,502

-6,463

3,110

21,084

-2,607

-3,001

3,035

17,795

-4,613

10,266

18,696

-25,160

-10,793

10,545

-3,914

-1,124

-6,766

-5,080

-5,351

240

3,827

-38,577

-14,521

29,776

28,844

-18,670

14,026

15,126

21,479

Accrued and other current liabilities

-8,073

911

146

-4,444

-10,748

8,252

2,371

609

364

7,126

5,589

-9,515

-29,810

2,666

-1,225

-13,380

30,481

-10,950

-3,247

1,307

7,357

5,351

10,532

2,705

-31

-24,911

-13,129

-7,967

17,508

-11,529

-7,620

-15,782

4,378

1,659

-19,010

-14,290

8,535

Pension liabilities, accrued postretirement benefit obligations and employee benefits

36,761

-12,786

-1,375

-2,893

25,876

2,527

127,459

8,510

48,929

32,202

3,319

4,899

38,891

-16,475

8,516

1,761

27,255

-8,463

-4,352

2,328

43,364

-29,576

31,008

14,758

20,913

-881

25,786

5,390

38,666

-10,949

-10,929

71,677

118,205

-24,579

79,132

161,882

-71,633

Other, net

461

13,016

1,263

-6,456

1,183

214

1,718

-295

997

1,335

4,975

-4,041

-1,279

5,259

-4,025

-3,549

11,413

-3,550

-17,464

-4,515

6,160

4,699

-7,807

-11,820

2,570

-6,163

-9,926

-9,278

13,283

33,536

-7,904

923

17,163

15,519

13,964

-24,445

22,401

NET CASH USED IN OPERATING ACTIVITIES

-6,447

188,367

43,935

64,789

-17,723

177,731

-25,751

35,915

-18,605

77,131

80,724

118,781

-54,676

147,433

19,459

85,818

-12,803

96,299

155,585

78,229

5,044

165,869

22,507

5,815

-113,517

143,913

-17,803

38,091

-26,315

264,164

-4,555

28,552

-103,234

219,259

5,977

29,928

-81,573

CASH FLOWS FROM INVESTING ACTIVITIES:
Decrease (increase) in restricted cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

649

-10,095

-107

-2,017

1,922

327

-3,827

11,297

3,540

3,993

-10,278

-347

-1,989

-12,320

-360

-981

5,180

-2,278

-2,150

16,471

23,013

9,155

284

Purchases of property, plant and equipment

64,768

59,495

46,928

31,182

44,519

48,850

26,528

16,326

17,634

47,519

20,614

15,034

13,713

21,769

12,386

8,397

10,082

16,142

11,592

19,252

21,349

20,152

18,055

16,608

21,214

19,662

11,855

14,634

18,799

27,855

17,232

20,107

21,441

19,877

11,802

11,442

20,753

Acquisition of business

16,174

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of securities

1,511

1,522

648

252

1,786

1,409

1,289

789

1,033

0

-8,812

8,546

3,503

1,049

2,132

11,724

3,743

3,755

1,514

1,604

6,593

2,397

0

1,299

19,926

11,089

7,591

24,223

47,933

34,352

78,598

91,177

64,802

43,829

12,623

39,955

48,791

Sales and maturities of securities

3,680

3,168

652

254

1,800

555

423

7

2,948

446

-7,580

16,669

3,317

1,366

2,590

1,770

3,535

1,015

3,425

1,606

410

9,062

3,861

3,412

24,390

46,202

30,928

48,481

43,268

84,446

94,671

46,517

22,015

27,223

48,854

22,634

48,577

Purchase of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,200

-

-

-

-

-

-

-

-

Investments, net of return of capital, in equity method investees

-

-

-

-

-

-

-

-

-

-

-

-

1,701

0

-1,328

6,668

3,825

200

0

0

0

0

0

0

4,900

4,077

-106

183

2,730

-373

-135

0

6,572

6,415

-3,706

30,751

4,716

Proceeds from asset disposals

-

-

-

-

-

-

-

-

-

-

2

140

0

-

-

-

-

3

0

87

-27

151

836

7

3

442

132

-272

726

431

17

113

19

5,906

-152

697

17

Other, net

-

-

-

-

-

-11

-3,996

-1,238

-8

-1,112

0

715

-691

-43

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH USED IN INVESTING ACTIVITIES

-78,773

-57,594

-46,733

-31,163

-44,505

-49,715

-235,628

-25,670

-15,711

-51,749

-17,449

-5,574

-14,909

-148,797

-11,244

-14,874

-14,008

-17,062

-11,603

-19,490

-23,732

-24,631

-17,505

-146,301

-11,369

12,163

13,709

21,489

-27,308

23,706

-6,187

-60,285

-68,631

-65,370

4,970

-67,972

-25,950

CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of short-term borrowing and long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

115

2,609

1,374

441

54

53

52

52

51

4,491

49

52

89

93

803

797

Borrowings under short-term arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

112

2,122

0

733

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings of long-term debt

214,000

112,100

104,100

270,900

212,500

257,500

201,300

700,000

0

35,800

0

0

73,600

298,200

241,300

0

0

-

-

-

-

346,800

247,000

547,300

15,000

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of long-term debt

97,607

155,732

107,649

277,257

113,457

251,219

115,019

503,017

6,951

42,733

6,976

56,868

30,476

214,756

83,650

3,750

3,750

0

173,600

0

3,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt issuance costs

1,340

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

12

70

Repurchases of common shares

20,000

0

0

0

20,000

152,201

62,558

0

0

-

-

-

-

0

211,531

31,433

50,033

51,659

18,088

0

0

0

50,032

84,077

15,665

16,950

14,314

68,755

57,074

-

-

-

-

-

-

-

-

Dividends paid to common shareholders

18,596

16,207

16,191

16,179

16,797

15,807

15,951

16,116

15,947

10,971

10,933

11,154

8,985

8,949

9,397

9,510

9,514

6,374

6,556

10,767

10,782

10,670

10,696

11,004

11,099

10,929

8,940

8,997

9,145

-

-

-

-

-

-

-

-

Exercises of stock options

1,254

1,313

1,733

577

823

62

493

493

2,525

1,098

1,411

4,943

9,665

-452

3,818

7,969

6,988

3,673

417

1,489

1,740

750

391

1,272

2,191

4,211

-1,824

1,075

813

452

1,050

95

1,329

131

280

947

3,105

Cash paid for shares withheld to satisfy employee taxes

4,998

248

288

80

8,574

1,394

692

53

4,657

660

344

2,072

4,973

212

404

4,016

4,622

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

403

22

-44

-

16

-208

760

-3,579

3,753

-10

13

130

5

30

1,406

-86

-187

325

4,031

Other, net

5,068

53

32

-128

943

-156

-163

-126

-226

-135

-149

-120

-146

-129

-125

-114

-143

-132

-100

-131

-101

-103

207

-297

-112

-85

-88

-224

-102

-119

-111

-187

-97

-

-

-

-

NET CASH PROVIDED BY FINANCING ACTIVITIES

77,781

-58,721

-18,263

-22,167

55,438

-163,215

6,164

172,984

-25,256

-17,601

-16,991

-65,271

38,685

73,683

-60,652

-40,854

-61,074

-59,434

-53,830

-288,222

-12,937

-20,238

-20,462

148,183

-8,633

-27,551

-21,468

-76,312

-65,547

-104,616

-1,118

-4,858

2,586

-140

1,119

287

6,269

EFFECTS OF EXCHANGE RATE CHANGES ON CASH

-1,419

339

-454

343

104

-1,515

2,196

-8,424

-2,236

-7,847

8,996

5,281

1,013

-1,081

-139

21

847

-995

-1,141

1,999

-6,950

-4,952

-3,537

166

-4,542

-2,237

3,185

-2,179

-3,261

-6

5,389

-6,259

3,690

-123

-8,854

3,947

2,293

TOTAL INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS

-8,858

72,391

-21,515

11,802

-6,686

-36,714

-253,019

174,805

-61,808

-66

55,280

53,217

-29,887

71,238

-52,576

30,111

-87,038

18,808

89,011

-227,484

-38,575

116,048

-18,997

7,863

-138,061

126,288

-22,377

-18,911

-122,431

183,248

-6,471

-42,850

-165,589

153,626

3,212

-33,810

-98,961

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest

14,668

4,328

15,515

5,060

14,767

3,668

5,700

4,162

3,463

3,490

3,713

3,719

3,330

2,145

1,581

1,382

1,404

1,353

972

2,573

1,749

2,488

2,277

1,008

288

-

-

-

-

-

-

1,535

618

-

755

838

892

Income taxes (net of refunds)

1,327

12,877

19,076

31,912

6,191

6,936

1,931

25,478

24,370

2,000

2,428

6,915

27,082

17,512

15,840

11,533

21,406

35,699

23,657

27,416

30,981

21,889

24,746

13,011

15,088

16,322

31,751

27,612

11,239

21,445

44,177

10,587

6,853

1,363

-265

18,504

13,903

SCHEDULE OF NON-CASH INVESTING ACTIVITY:
Accrued capital expenditures included in accounts payable

15,433

21,329

6,995

-45

11,249

16,013

4,682

4,040

4,735

774

3,794

870

3,016

3,096

648

2,218

2,762

4,580

-1,021

-160

3,342

4,018

-737

-916

4,854

2,101

2,595

-590

4,035

2,496

646

-3,564

8,324

-

-

-

-