Cogent communications holdings, inc. (CCOI)
CashFlow / TTM
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

37,530

37,520

37,154

31,684

31,100

28,667

15,340

10,759

8,524

5,876

15,995

15,804

15,711

14,929

13,517

13,218

9,835

4,896

2,064

-1,280

-913

797

53,748

56,054

56,453

56,689

3,814

1,598

-1,800

-4,251

0

0

0

-

-

-

-

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

79,400

80,200

81,100

81,436

81,700

81,200

79,617

78,469

77,162

75,900

76,657

76,313

76,020

75,235

73,171

72,001

70,767

70,527

70,061

69,859

69,790

69,481

68,497

67,089

65,688

64,358

63,923

63,509

63,113

62,478

0

0

0

-

-

-

-

Amortization of debt discount and premium

1,870

1,807

1,735

1,624

1,577

1,533

1,466

1,423

1,329

1,239

1,125

976

1,169

1,105

1,060

994

551

171

-303

-706

397

1,976

3,659

5,448

5,921

6,086

6,249

6,265

6,147

6,031

0

0

0

-

-

-

-

Equity-based compensation expense (net of amounts capitalized)

20,141

18,500

17,920

17,945

17,350

17,700

16,994

15,907

14,437

13,300

12,482

11,739

11,201

10,735

10,430

10,143

10,555

11,515

11,945

11,933

10,706

9,571

8,577

7,946

8,211

8,719

9,243

9,712

9,599

8,323

0

0

0

-

-

-

-

Losses on debt extinguishment and redemption

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,144

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains on capital lease terminations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11,643

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gains - equipment transactions and other, net

581

358

513

1,154

856

1,109

1,166

1,644

3,145

4,833

4,944

4,822

7,660

7,674

8,972

9,509

6,030

4,866

5,620

7,260

9,146

10,382

8,757

6,083

3,394

1,001

797

816

650

971

0

0

0

-

-

-

-

Unrealized foreign currency exchange gain on 2024 Euro notes

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

12,025

12,158

12,875

11,133

11,066

11,117

22,371

22,868

24,073

24,679

10,606

10,217

10,130

9,224

12,332

11,867

9,210

7,709

5,082

3,866

2,756

3,163

52,398

51,045

51,357

50,069

-1,995

-2,453

-2,761

-2,692

0

0

0

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

3,987

-1,067

967

1,458

2,295

3,204

2,124

4,561

2,849

4,161

5,022

2,079

2,753

3,183

2,477

1,452

1,391

-1,119

739

-158

-739

3,938

3,865

5,854

5,672

6,293

299

1,239

2,354

-1,247

0

0

0

-

-

-

-

Prepaid expenses and other current assets

3,636

3,730

4,637

3,354

2,412

438

162

-1,715

-1,000

-1,146

-978

688

1,773

2,923

2,900

3,209

565

2,898

2,702

1,784

1,745

2,338

3,765

2,627

6,061

3,642

2,235

3,323

977

-459

0

0

0

-

-

-

-

Accounts payable, accrued liabilities and other long-term liabilities

8,887

5,042

6,727

7,410

-869

-96

-6,633

-2,905

-2,916

-2,571

4,358

-581

229

10,268

1,089

5,432

3,647

-2,644

647

-2,636

8,051

4,497

15,328

10,409

4,454

6,234

2,126

6,774

5,894

4,371

0

0

0

-

-

-

-

Deposits and other assets

2,106

-1,131

-1,758

-3,567

-3,998

-1,490

442

-736

-172

1,111

-2,658

-2,064

-1,735

-336

1,700

1,882

2,052

221

-765

-238

-113

-219

453

-336

-824

-770

-841

-518

-486

436

0

0

0

-

-

-

-

Net cash provided by operating activities

148,630

148,809

143,438

141,740

132,379

133,921

124,555

121,593

118,367

111,702

114,221

108,271

103,924

107,967

96,087

96,657

92,994

83,809

79,751

72,422

80,782

73,046

84,393

83,217

77,525

81,851

84,860

85,451

82,219

79,943

74,939

75,349

75,032

75,814

0

0

0

Cash flows from investing activities:
Purchases of property and equipment

46,536

46,958

47,996

48,052

48,320

49,937

49,618

48,438

48,457

45,801

42,378

40,196

42,449

45,234

43,001

41,094

37,700

35,582

43,642

52,206

57,325

60,032

57,105

51,868

48,338

49,031

49,222

50,244

48,364

44,337

44,475

42,725

45,303

45,856

0

0

0

Proceeds from asset sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

90

99

140

75

50

63

22

32

141

162

163

153

44

0

0

0

Net cash used in investing activities

-46,536

-46,958

-47,996

-48,052

-48,320

-49,937

-49,618

-48,438

-48,457

-45,801

-42,378

-40,196

-42,449

-45,234

-43,001

-41,065

-37,589

-35,471

-43,532

-52,126

-57,262

-59,942

-57,006

-51,728

-48,263

-48,981

-49,159

-50,222

-48,332

-44,196

-44,313

-42,562

-45,150

-45,812

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

248,603

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of 2018 secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

251,280

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

116,639

112,647

109,387

105,586

101,633

97,887

93,204

89,319

85,477

81,657

78,023

74,313

71,038

68,210

66,056

64,183

66,484

66,314

64,459

62,955

51,865

54,216

57,232

49,952

48,215

35,352

0

0

0

-

-

-

-

-

-

-

-

Purchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39,394

49,949

53,723

52,505

58,582

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from issuance of senior unsecured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

170,512

0

0

0

Proceeds from exercises of stock options

2,182

1,637

1,518

1,685

1,644

1,768

1,823

1,738

1,219

1,222

1,245

1,076

1,314

1,220

1,029

834

499

423

383

451

508

533

682

782

1,158

1,218

1,048

983

525

404

592

636

660

633

0

0

0

Principal payments on installment payment agreement

10,186

10,007

9,897

9,957

9,859

9,437

8,507

7,105

5,549

3,802

2,183

951

19,237

21,203

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments of finance lease obligations

12,234

9,097

9,163

9,233

11,012

10,286

9,991

11,212

9,651

11,201

12,176

11,210

12,951

12,466

12,931

16,537

19,934

20,215

19,711

21,044

18,479

18,208

17,673

12,265

9,579

11,164

11,291

15,076

14,702

16,794

16,504

16,851

19,564

15,540

0

0

0

Net cash used in financing activities

15,257

22,020

18,634

92,334

-57,563

-52,545

-40,017

-105,898

-101,287

-97,267

28,475

32,548

7,088

8,341

-112,177

-124,699

-120,104

-128,847

-136,508

-139,952

-21,116

-26,627

-18,404

80,209

-950

24,584

36,481

-35,276

-30,480

-27,204

-21,749

-20,449

-21,874

152,636

0

0

0

Effect of exchange rates changes on cash

-1,373

-542

-2,363

-1,025

-3,384

-2,357

-1,127

533

4,207

4,058

2,296

902

-1,417

-346

-48

-420

699

-3,690

-4,200

-5,685

-6,101

-3,553

-1,979

802

475

127

529

155

-741

535

-864

-2,357

-1,056

-714

0

0

0

Net decrease in cash and cash equivalents

115,978

123,329

111,713

184,997

23,112

29,082

33,793

-32,210

-27,170

-27,308

102,614

101,525

67,146

70,728

-59,139

-69,527

-64,000

-84,199

-104,489

-125,341

-3,697

-17,076

7,004

112,500

28,787

57,581

72,711

108

2,666

9,078

8,013

9,981

6,952

181,924

0

0

0

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

478

978

863

1,192

1,387

968

1,228

1,201

1,854

3,861

4,177

4,474

7,917

7,739

9,510

9,947

6,146

8,156

8,734

10,725

12,752

11,031

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

PP&E obtained for installment payment agreement

10,164

11,255

10,261

9,465

10,793

9,925

11,059

10,096

8,286

9,027

0

0

0

-

-

-

-

21,873

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease obligations incurred

13,841

14,307

16,318

17,877

20,064

20,050

19,564

21,750

20,254

22,595

23,424

23,136

21,115

18,439

21,094

24,994

24,858

25,794

27,420

28,719

28,700

28,707

24,886

19,875

18,810

33,428

35,501

33,294

34,335

17,805

15,810

19,127

27,426

41,959

0

0

0