Cogent communications holdings, inc. (CCOI)
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

9,227

7,466

13,701

7,136

9,217

7,100

8,231

6,552

6,784

-6,227

3,650

4,317

4,136

3,892

3,459

4,224

3,354

2,480

3,160

841

-1,585

-352

-184

1,208

125

52,599

2,122

1,607

361

-276

-94

-1,791

-2,090

-

-

-

-

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

19,500

20,000

19,960

19,940

20,300

20,900

20,296

20,204

19,800

19,317

19,148

18,897

18,538

20,074

18,804

18,604

17,753

18,010

17,634

17,370

17,513

17,544

17,432

17,301

17,204

16,560

16,024

15,900

15,874

16,125

15,610

15,504

15,239

-

-

-

-

Amortization of debt discount and premium

477

479

486

428

414

407

375

381

370

340

332

287

280

226

183

480

216

181

117

37

-164

-293

-286

1,140

1,415

1,390

1,503

1,613

1,580

1,553

1,519

1,495

1,464

-

-

-

-

Equity-based compensation expense (net of amounts capitalized)

5,075

4,980

4,796

5,290

3,434

4,400

4,821

4,695

3,784

3,694

3,734

3,225

2,647

2,876

2,991

2,687

2,181

2,571

2,704

3,099

3,141

3,001

2,692

1,872

2,006

2,007

2,061

2,137

2,514

2,531

2,530

2,024

1,238

-

-

-

-

Losses on debt extinguishment and redemption

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-10,144

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on capital lease terminations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-23,236

1,483

0

10,110

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains - equipment transactions and other, net

454

227

-353

253

231

382

288

-45

484

439

766

1,456

2,172

550

644

4,294

2,186

1,848

1,181

815

1,022

2,602

2,821

2,701

2,258

977

147

12

-135

773

166

-154

186

-

-

-

-

Unrealized foreign currency exchange gain on 2024 Euro notes

2,904

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

2,439

2,873

4,454

2,259

2,572

3,590

2,712

2,192

2,623

14,844

3,209

3,397

3,229

771

2,820

3,310

2,323

3,879

2,355

653

822

1,252

1,139

-457

1,229

50,487

-214

-145

-59

-1,577

-672

-453

10

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

2,790

-1,110

1,048

1,259

-2,264

924

1,539

2,096

-1,355

-156

3,976

384

-43

705

1,033

1,058

387

-1

8

997

-2,123

1,857

-889

416

2,554

1,784

1,100

234

3,175

-4,210

2,040

1,349

-426

-

-

-

-

Prepaid expenses and other current assets

3,093

-1,132

1,315

360

3,187

-225

32

-582

1,213

-501

-1,845

133

1,067

-333

-179

1,218

2,217

-356

130

-1,426

4,550

-552

-788

-1,465

5,143

875

-1,926

1,969

2,724

-532

-838

-377

1,288

-

-

-

-

Accounts payable, accrued liabilities and other long-term liabilities

1,067

3,692

-3,738

7,866

-2,778

5,377

-3,055

-413

-2,005

-1,160

673

-424

-1,660

5,769

-4,266

386

8,379

-3,410

77

-1,399

2,088

-119

-3,206

9,288

-1,466

10,712

-8,125

3,333

314

6,604

-3,477

2,453

-1,209

-

-

-

-

Deposits and other assets

-94

599

2,053

-452

-3,331

-28

244

-883

-823

1,904

-934

-319

460

-1,865

-340

10

1,859

171

-158

180

28

-815

369

305

-78

-143

-420

-183

-24

-214

-97

-151

898

-

-

-

-

Net cash provided by operating activities

28,458

46,097

33,443

40,632

28,637

40,726

31,745

31,271

30,179

31,360

28,783

28,045

23,514

33,879

22,833

23,698

27,557

21,999

23,403

20,035

18,372

17,941

16,074

28,395

10,636

29,288

14,898

22,703

14,962

32,297

15,489

19,471

12,686

27,293

15,899

19,154

13,468

Cash flows from investing activities:
Purchases of property and equipment

12,866

9,899

12,051

11,720

13,288

10,937

12,107

11,988

14,905

10,618

10,927

12,007

12,249

7,195

8,745

14,260

15,034

4,962

6,838

10,866

12,916

13,022

15,402

15,985

15,623

10,095

10,165

12,455

16,316

10,286

11,187

10,575

12,289

10,424

9,437

13,153

12,842

Proceeds from asset sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-1

65

27

8

40

0

2

21

-1

10

111

42

0

0

2

Net cash used in investing activities

-12,866

-9,899

-12,051

-11,720

-13,288

-10,937

-12,107

-11,988

-14,905

-10,618

-10,927

-12,007

-12,249

-7,195

-8,745

-14,260

-15,034

-4,962

-6,809

-10,784

-12,916

-13,023

-15,403

-15,920

-15,596

-10,087

-10,125

-12,455

-16,314

-10,265

-11,188

-10,565

-12,178

-10,382

-9,437

-13,153

-12,840

Cash flows from financing activities:
Net proceeds from issuance of 2022 secured notes - net of debt costs of $1,363

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

4

-60

248,659

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of 2018 secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

251,280

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

30,557

29,776

28,565

27,741

26,565

26,516

24,764

23,788

22,819

21,833

20,879

19,946

18,999

18,199

17,169

16,671

16,171

16,045

15,296

18,972

16,001

14,190

13,792

7,882

18,352

17,206

6,512

6,145

5,489

-

-

-

-

-

-

-

-

Purchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

12,169

19,106

8,119

10,555

15,943

17,888

14,196

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from issuance of senior unsecured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-1

170,513

Proceeds from exercises of stock options

718

367

351

746

173

248

518

705

297

303

433

186

300

326

264

424

206

135

69

89

130

95

137

146

155

244

237

522

215

74

172

64

94

262

216

88

67

Principal payments on installment payment agreement

2,566

2,659

2,574

2,387

2,387

2,549

2,634

2,289

1,965

1,619

1,232

733

218

0

0

19,019

2,184

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of finance lease obligations

6,167

2,062

2,029

1,976

3,030

2,128

2,099

3,755

2,304

1,833

3,320

2,194

3,854

2,808

2,354

3,935

3,369

3,273

5,960

7,332

3,650

2,769

7,293

4,767

3,379

2,234

1,885

2,081

4,964

2,361

5,670

1,707

7,056

2,071

6,017

4,420

3,032

Net cash used in financing activities

-38,572

-34,124

-32,817

120,770

-31,809

-37,510

40,883

-29,127

-26,791

-24,982

-24,998

-24,516

-22,771

100,760

-20,925

-49,976

-21,518

-19,758

-33,447

-45,381

-30,261

-27,419

-36,891

73,455

-35,772

-19,196

61,722

-7,704

-10,238

-7,299

-10,035

-2,908

-6,962

-1,844

-8,735

-4,333

167,548

Effect of exchange rates changes on cash

-1,326

1,077

-1,583

459

-495

-744

-245

-1,900

532

486

1,415

1,774

383

-1,276

21

-545

1,454

-978

-351

574

-2,935

-1,488

-1,836

158

-387

86

945

-169

-735

488

571

-1,065

541

-911

-922

236

883

Net decrease in cash and cash equivalents

-24,306

3,151

-13,008

150,141

-16,955

-8,465

60,276

-11,744

-10,985

-3,754

-5,727

-6,704

-11,123

126,168

-6,816

-41,083

-7,541

-3,699

-17,204

-35,556

-27,740

-23,989

-38,056

86,088

-41,119

91

67,440

2,375

-12,325

15,221

-5,163

4,933

-5,913

14,156

-3,195

1,904

169,059

Supplemental disclosure of non-cash financing activities:
Non-cash component of network equipment obtained in exchange transactions

36

207

87

148

536

92

416

343

117

352

389

996

2,124

668

686

4,439

1,946

2,439

1,123

638

3,956

3,017

3,114

2,665

2,235

-

-

-

-

-

-

-

-

-

-

-

-

PP&E obtained for installment payment agreement

2,343

2,310

3,462

2,049

3,434

1,316

2,666

3,377

2,566

2,450

1,703

1,567

3,307

-

-

-

-

6,271

10,005

3,893

1,704

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease obligations incurred

3,164

2,965

2,780

4,932

3,630

4,976

4,339

7,119

3,616

4,490

6,525

5,623

5,957

5,319

6,237

3,602

3,281

7,974

10,137

3,466

4,217

9,600

11,436

3,447

4,224

5,779

6,425

2,382

18,842

7,852

4,218

3,423

2,312

5,857

7,535

11,722

16,845