BWX TECHNOLOGIES, INC. BWXT Cash Flow

Bwx technologies, inc. (BWXT)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	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	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income
271,187	244,677	205,189	208,268	210,002	227,305	189,691	158,306	158,992	148,365	198,072	192,587	189,664	183,612	149,128	211,955	136,139	131,446	28,164	-15,467	25,344	21,457	286,041	282,659	328,868	332,590	208,494	200,729	205,364	217,557	151,366	142,015	114,020	70,618	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
62,214	61,722	62,433	62,510	61,158	60,097	58,114	56,778	56,642	56,557	55,599	54,084	52,625	50,554	50,701	51,575	64,083	78,621	113,408	122,460	115,228	105,798	76,584	71,722	70,180	70,525	68,220	68,023	69,340	69,697	70,328	70,758	71,403	73,003	0	0	0
Income of investees, net of dividends
6,938	7,969	8,277	11,036	8,767	8,106	6,682	1,851	1,558	-2,520	-5,797	-3,383	-1,175	1,017	3,915	2,772	-1,009	-1,947	-1,622	-28,586	-23,982	-18,763	-46,876	-21,844	-14,428	-11,537	7,079	16,182	15,807	15,115	16,281	21,922	23,915	20,854	0	0	0
Gains on asset disposals and impairments, net
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-26,441	0	0	0	-	-	-	-	-	-	-2,388	-1,610	-1,419	723	4,048	3,337	3,087	0	0	0
Gain on deconsolidation of Generation mPower LLC
-	-	-	-	-	-	-	-	-	-	-	-	-	13,600	13,571	13,571	13,571	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
In-kind research and development costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,831	10,335	14,255	16,947	15,794	15,754	16,571	17,318	17,942	0	0	0	-	-	-	-
Recognition of losses for pension and postretirement plans
-6,352	-6,222	-70,197	-34,856	-34,696	-34,554	22,196	-12,924	-12,882	-12,823	-23,038	-23,019	-22,980	-22,940	-51,740	-51,739	-54,001	-54,105	-234,771	-246,126	-244,052	-244,136	209,228	220,237	220,122	219,915	0	0	0	-	-	-	-	-	-	-	-
Amortization of pension and postretirement costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Stock-based compensation expense
13,299	12,726	12,503	12,480	9,951	11,883	13,862	13,879	16,271	15,222	16,877	16,439	16,314	15,371	14,967	15,285	27,187	31,699	36,780	38,494	25,808	23,461	27,720	27,341	29,366	29,006	31,314	31,825	32,088	31,797	18,511	17,280	17,057	17,927	0	0	0
Other, net
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	681	726	924	177	194	138	178	1,571	1,355	1,163	1,458	4,083	0	0	0
Changes in assets and liabilities:
Accounts receivable
-7,701	-15,605	-17,261	-41,089	-15,707	-37,282	-6,385	31,276	-34,081	34,459	-15,201	-5,754	9,320	-28,570	-35,988	-15,866	-19,495	-40,094	-11,867	-3,445	50,272	50,080	-2,169	-50,520	-51,011	-19,726	34,869	46,881	37,294	52,034	24,678	-2,812	24,171	26,887	0	0	0
Accounts payable
21,822	44,592	17,951	16,914	-7,028	1,888	5,563	15,594	17,055	-7,476	5,936	-17,641	4,426	19,549	12,475	4,010	18,583	-23,985	402	30,717	-40,328	-81,044	-65,681	-80,548	-47,574	54,895	-1,935	18,003	60,855	30,391	52,263	50,665	32,071	48,246	0	0	0
Retainages
-9,666	-11,477	-32,282	-36,196	-21,406	-24,911	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contracts in progress and advance billings on contracts
70,851	78,645	110,623	49,659	3,594	34,012	-3,186	14,761	33,991	-35,272	-9,482	-11,702	16,973	60,473	74,764	14,760	-6,227	-57,174	-34,834	50,368	12,046	98,400	143,934	181,153	223,604	210,582	3,503	3,162	7,251	-32,527	106,423	63,131	104,071	28,746	0	0	0
Inventories
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,550	-6,029	-9,189	-11,971	-18,838	-5,191	4,518	16,448	22,871	13,175	13,654	6,052	0	0	0
Income taxes
8,940	-3,833	18,124	-17,139	-10,196	-23,257	-52,974	-15,655	12,229	15,124	18,586	18,511	15,222	13,216	26,483	42,144	-811	-6,991	-6,712	-29,322	-5,286	-1,259	-16,884	-18,321	-16,957	-6,364	-39,861	-49,031	-19,495	5,522	25,429	53,976	39,326	31,961	0	0	0
Accrued and other current liabilities
-11,460	-14,135	-6,794	-4,569	484	11,596	10,470	13,688	3,564	-26,610	-31,070	-37,884	-41,749	18,542	4,926	2,904	17,591	-5,533	10,768	24,547	25,945	18,557	-11,705	-35,366	-46,038	-28,499	-15,117	-9,608	-17,423	-30,553	-17,365	-28,755	-27,263	-23,106	0	0	0
Pension liabilities, accrued postretirement benefit obligations and employee benefits
19,707	8,822	24,135	152,969	164,372	187,425	217,100	92,960	89,349	79,311	30,634	35,831	32,693	21,057	29,069	16,201	16,768	32,877	11,764	47,124	59,554	37,103	65,798	60,576	51,208	68,961	58,893	22,178	88,465	168,004	154,374	244,435	334,640	144,802	0	0	0
Other, net
8,284	9,006	-3,796	-3,341	2,820	2,634	3,755	7,012	3,266	990	4,914	-4,086	-3,594	9,098	289	-13,150	-14,116	-19,369	-11,120	-1,463	-8,768	-12,358	-23,220	-25,339	-22,797	-12,084	27,615	29,637	39,838	43,718	25,701	47,569	22,201	27,439	0	0	0
NET CASH USED IN OPERATING ACTIVITIES
290,644	279,368	268,732	199,046	170,172	169,290	68,690	175,165	258,031	221,960	292,262	230,997	198,034	239,907	188,773	324,899	317,310	335,157	404,727	271,649	199,235	80,674	58,718	18,408	50,684	137,886	258,137	271,385	261,846	184,927	140,022	150,554	151,930	173,591	0	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Decrease (increase) in restricted cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,570	-10,297	125	-3,595	9,719	11,337	15,003	8,552	-3,092	-8,621	-24,934	-15,016	-15,650	-8,481	1,561	-229	17,223	35,056	46,489	48,923	0	0	0
Purchases of property, plant and equipment
202,373	182,124	171,479	151,079	136,223	109,338	108,007	102,093	100,801	96,880	71,130	62,902	56,265	52,634	47,007	46,213	57,068	68,335	72,345	78,808	76,164	76,029	75,539	69,339	67,365	64,950	73,143	78,520	83,993	86,635	78,657	73,227	64,562	63,874	0	0	0
Acquisition of business
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of securities
3,933	4,208	4,095	4,736	5,273	4,520	3,111	-6,990	767	3,237	4,286	15,230	18,408	18,648	21,354	20,736	10,616	13,466	12,108	10,594	10,289	23,622	32,314	39,905	62,829	90,836	114,099	185,106	252,060	268,929	278,406	212,431	161,209	145,198	0	0	0
Sales and maturities of securities
7,754	5,874	3,261	3,032	2,785	3,933	3,824	-4,179	12,483	12,852	13,772	23,942	9,043	9,261	8,910	9,745	9,581	6,456	14,503	14,939	16,745	40,725	77,865	104,932	150,001	168,879	207,123	270,866	268,902	247,649	190,426	144,609	120,726	147,288	0	0	0
Purchase of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,200	0	0	0	-	-	-	-	-	-	-	-
Investments, net of return of capital, in equity method investees
-	-	-	-	-	-	-	-	-	-	-	-	7,041	9,165	9,365	10,693	4,025	200	0	0	0	4,900	8,977	8,871	9,054	6,884	2,434	2,405	2,222	6,064	12,852	9,281	40,032	38,176	0	0	0
Proceeds from asset disposals
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	63	211	1,047	967	997	1,288	584	305	1,028	1,017	902	1,287	580	6,055	5,886	6,470	6,468	0	0	0
Other, net
-	-	-	-	-	-5,253	-6,354	-2,358	-405	-1,088	-19	-19	-734	-43	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET CASH USED IN INVESTING ACTIVITIES
-214,263	-179,995	-172,116	-361,011	-355,518	-326,724	-328,758	-110,579	-90,483	-89,681	-186,729	-180,524	-189,824	-188,923	-57,188	-57,547	-62,163	-71,887	-79,456	-85,358	-212,169	-199,806	-163,012	-131,798	35,992	20,053	31,596	11,700	-70,074	-111,397	-200,473	-189,316	-197,003	-154,322	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of short-term borrowing and long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,539	4,478	1,922	600	211	208	4,646	4,643	4,643	4,681	283	1,037	1,782	0	0	0
Borrowings under short-term arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,967	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings of long-term debt
701,100	699,600	845,000	942,200	1,371,300	1,158,800	937,100	735,800	35,800	109,400	371,800	613,100	613,100	539,500	0	0	0	-	-	-	-	1,156,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
638,245	654,095	749,582	756,952	982,712	876,206	667,720	559,677	113,528	137,053	309,076	385,750	332,632	305,906	91,150	181,100	177,350	177,350	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt issuance costs
1,340	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	82	0	0	0
Repurchases of common shares
20,000	20,000	172,201	234,759	234,759	214,759	0	0	0	-	-	-	-	292,997	344,656	151,213	119,780	69,747	18,088	50,032	134,109	149,774	166,724	131,006	115,684	157,093	0	0	0	-	-	-	-	-	-	-	-
Dividends paid to common shareholders
67,173	65,374	64,974	64,734	64,671	63,821	58,985	53,967	49,005	42,043	40,021	38,485	36,841	37,370	34,795	31,954	33,211	34,479	38,775	42,915	43,152	43,469	43,728	41,972	39,965	38,011	0	0	0	-	-	-	-	-	-	-	-
Exercises of stock options
4,877	4,446	3,195	1,955	1,871	3,573	4,609	5,527	9,977	17,117	15,567	17,974	21,000	18,323	22,448	19,047	12,567	7,319	4,396	4,370	4,153	4,604	8,065	5,850	5,653	4,275	516	3,390	2,410	2,926	2,605	1,835	2,687	4,463	0	0	0
Cash paid for shares withheld to satisfy employee taxes
5,614	9,190	10,336	10,740	10,713	6,796	6,062	5,714	7,733	8,049	7,601	7,661	9,605	9,254	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-3,011	726	924	177	3,886	138	178	1,571	1,355	1,163	1,458	4,083	0	0	0
Other, net
5,025	900	691	496	498	-671	-650	-636	-630	-550	-544	-520	-514	-511	-514	-489	-506	-464	-435	-128	-294	-305	-287	-582	-509	-499	-533	-556	-519	-514	0	0	0	-	-	-	-
NET CASH PROVIDED BY FINANCING ACTIVITIES
-21,370	-43,713	-148,207	-123,780	71,371	-9,323	136,291	113,136	-125,119	-61,178	30,106	-13,555	10,862	-88,897	-222,014	-215,192	-462,560	-414,423	-375,227	-341,859	94,546	98,850	91,537	90,531	-133,964	-190,878	-267,943	-247,593	-176,139	-108,006	-3,530	-1,293	3,852	7,535	0	0	0
EFFECTS OF EXCHANGE RATE CHANGES ON CASH
-1,191	332	-1,522	1,128	-7,639	-9,979	-16,311	-9,511	4,194	7,443	14,209	5,074	-186	-352	-266	-1,268	710	-7,087	-11,044	-13,440	-15,273	-12,865	-10,150	-3,428	-5,773	-4,492	-2,261	-57	-4,137	2,814	2,697	-11,546	-1,340	-2,737	0	0	0
TOTAL INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS
53,820	55,992	-53,113	-284,617	-121,614	-176,736	-140,088	168,211	46,623	78,544	149,848	41,992	18,886	-38,265	-90,695	50,892	-206,703	-158,240	-61,000	-169,008	66,339	-33,147	-22,907	-26,287	-53,061	-37,431	19,529	35,435	11,496	-31,662	-61,284	-51,601	-42,561	24,067	0	0	0
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest
39,571	39,670	39,010	29,195	28,297	16,993	16,815	14,828	14,385	14,252	12,907	10,775	8,438	6,512	5,720	5,111	6,302	6,647	7,782	9,087	7,522	6,061	0	0	0	-	-	-	-	-	-	0	0	-	0	0	0
Income taxes (net of refunds)
65,192	70,056	64,115	46,970	40,536	58,715	53,779	54,276	35,713	38,425	53,937	67,349	71,967	66,291	84,478	92,295	108,178	117,753	103,943	105,032	90,627	74,734	69,167	76,172	90,773	86,924	92,047	104,473	87,448	83,062	62,980	18,538	26,455	33,505	0	0	0
SCHEDULE OF NON-CASH INVESTING ACTIVITY:
Accrued capital expenditures included in accounts payable
43,712	39,528	34,212	31,899	35,984	29,470	14,231	13,343	10,173	8,454	10,776	7,630	8,978	8,724	10,208	8,539	6,161	6,741	6,179	6,463	5,707	7,219	5,302	8,634	8,960	8,141	8,536	6,587	3,613	7,902	0	0	0	-	-	-	-