CECO ENVIRONMENTAL CORP CECE Cash Flow

Ceco environmental corp (CECE)

CashFlow / Quarterly

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
3,412	8,397	1,931	5,515	1,864	932	-12,915	-901	5,763	-11,589	3,036	5,486	38	-51,172	5,826	4,037	3,055	-3,211	-4,825	2,104	198	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,703	4,493	3,021	-	-1,461	3,043	2,208	3,052	3,268	2,485	2,045	2,742	2,319	1,953	1,258
Adjustment to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization
2,196	2,456	2,633	2,749	2,771	3,175	3,141	3,459	3,497	3,983	3,937	4,030	4,138	3,886	4,689	5,133	5,195	5,303	4,274	3,491	3,452	3,165	2,714	2,619	2,770	3,446	1,888	899	414	-	-	-	-	-	-	-	-
Unrealized foreign currency loss
-505	1,022	-238	303	-561	-73	-17	-945	199	73	533	1,184	313	-1,397	206	-494	908	-675	458	553	-2,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on interest rate swaps
-	0	0	204	44	146	26	51	53	141	57	71	58	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments to earnout liabilities
-	-	-	-	-	-	-	-	-	-921	-3,934	-5,652	3,897	3,758	-573	686	347	1,333	5,451	3,606	832	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnout payments
-	-	-	-	-	0	812	1,803	247	0	0	5,642	2,155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	468	162	161	150	136	138	137	138	132	29	5	-	-	-	-	-	-	-	-
Loss on sale of property and equipment
-	-	-	-	-	3	205	0	9	-43	-4	-6	-77	-18	-10	-186	-3	-	-	-	-	49	0	-2	15	-	-	-	-	-	-	-	-	-	-	-	-
Loss on divestitures, net of selling costs
-	0	0	0	-70	-420	-15,074	-73	11,177	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt discount amortization
104	132	81	578	269	281	280	291	291	280	249	252	252	251	264	269	270	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	300	292	318	313	340	369	377
Non cash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23	23	23	23	22	23	23
Share-based compensation expense
597	-16	928	958	798	845	854	862	626	589	502	668	9	556	575	574	575	752	464	391	463	438	471	375	375	444	283	215	158	169	165	174	154	155	151	135	252
Bad debt expense
46	-415	316	257	137	132	579	500	146	1,711	1,224	743	217	524	30	177	117	-	-	-	-	-	-	-	-	-	-	-	-37	-	117	3	21	190	66	67	79
Inventory reserve expense
69	-138	93	144	217	-35	110	148	296	-589	513	151	165	203	126	602	236	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	435	24	45	-	29	25	57	-	-	-	-	-	-	-	-	-	-	-	-
Inventory reserve expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	207	127	129	-	-	-	-	-	-	-	-	-	65	26	56	73	47	71	78
Deferred income tax benefit
-	-	-	-	-	1,037	-335	471	-1,215	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory reserve expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-182	-	-37	2	-69	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of divestitures:
Accounts receivable
-12,190	9,526	-956	-12,581	19,627	-13,972	13,517	6,127	412	-1,389	4,624	-10,837	-6,505	1,927	-609	-1,616	-12,996	-1,030	9,193	6,598	844	-5,264	5,756	-2,123	-861	3,373	-631	1,492	-6,987	6,746	3,063	-1,930	-2,790	2,681	623	-4,739	-1,826
Costs and estimated earnings in excess of billings on uncompleted contracts
5,927	-167	2,780	809	1,607	111	1,535	249	2,662	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-1,463	6,566	-4,920	-	-2,201	-2,332	1,084	-14,969	3,083	-175	7,614	3,736	-1,216	4,842	-737	-5,782	3,179	1,341	2,203	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-200	-583	4,369	-375	301	-1,633	-591
Inventories
-1,765	734	-2,456	2,750	-821	-1,457	1,532	890	739	-1,493	199	297	110	-1,923	-3,083	-2,617	-1,826	3,647	238	-939	531	-2,246	1,047	-579	-215	-1,026	-433	-358	137	-553	-133	-42	270	-639	-278	617	481
Prepaid expense and other current assets
3,022	3,244	487	4,553	-1,187	-2,357	3,991	-913	-1,494	-1,810	88	-1,447	-361	-689	-848	1,730	2,025	-2,846	-105	53	-234	-5,664	2,604	1,529	31	-5,387	2,049	856	588	-246	-914	1,142	-509	234	-214	239	71
Deferred charges and other assets
-491	-2,386	-75	1,744	-41	-320	517	477	-258	-171	-622	-203	-589	1,141	51	-38	-1,081	392	160	82	-443	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
-4,611	189	4,074	-4,353	-3,938	2,138	6,578	5,616	6,989	-6,775	-1,054	5,410	-13,428	3,417	-6,397	8,383	-11,996	-10,936	-350	-1,608	4,312	4,421	3,709	-1,054	-4,209	4,538	-86	898	-878	1,711	1,310	-250	-2,452	1,365	-2,337	-1,771	-933
Billings in excess of costs and estimated earnings on uncompleted contracts
-375	11,395	1,025	-1,589	3,443	-8,285	5,245	5,337	-2,227	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred charges and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-240	160	-	-4,724	-268	-42	-15	-7	-2	-179	-29	291	26	-179
Accrued litigation settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,536	-	-	-	-	-	-	-	-	-	-	-	-
Billings in excess of costs and estimated earnings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-2,698	-10,884	-944	-	-4,301	11,207	-47	4,576	168	-852	432	-1,495	1,493	-961	-1,206	-2,265	352	-296	62	2,449	1,795	-2,332	-609	1,153	2,998	-1,501	-813
Income taxes payable
-6	8	-23	-937	-719	1,862	-1,612	-1,454	3,043	-970	510	-1,573	206	-2,465	3,689	-1,111	30	892	-80	494	-140	-750	380	-1,452	658	1,569	0	-2,005	302	-673	259	465	414	-82	-683	1	-489
Other liabilities
-433	1,150	-652	-2,759	15	-2,411	-744	-76	-215	6,589	-1,519	-296	287	2,234	-1,084	-588	-283	5,987	-3,990	-903	-2,762	-4,268	-469	14	19	-885	441	257	1,725	127	166	-245	121	36	-343	52	103
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	4,653	-	8,809	34,682	9,388	21,503	-10,571	195	1,510	11,368	4,526	896	875	13,808	2,258	-14	8,129	-	-	-	-	-	-	-	-
Net cash provided by (used in) operating activities
7,001	10,860	10,664	2,444	-13,741	18,310	-6,193	6,587	3,248	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,248	890	7,668	3,859	2,459	1,623	797
Cash flows from investing activities:
Acquisitions of property and equipment
976	1,909	2,545	778	423	1,193	1,306	125	466	222	165	231	410	265	259	340	212	237	185	222	119	350	90	296	415	844	297	183	53	39	102	59	73	259	398	96	160
Net cash proceeds from divestitures
-	-	-	-	-	1,988	2,372	0	30,692	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	80,053	0	24,379	-	-	-	-	-	-	-	-
Net proceeds from sale of assets
-	-	-	-	-	-15	6,199	0	112	1	323	33	11	356	10	9	282	809	0	2,296	100	263	351	2,310	4,814	-	-	-	-	-	-	-	-	78	110	0	526
Net cash provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-399	-	-249	-331	70	221	-37,315	2,074	-19	-36,272	-7,953	2,014	4,399	-629	-80,350	-183	-24,432	-	-	-	-	-	-	-	-
Net cash used in by investing activities
-976	-1,909	-2,036	-778	-423	780	7,265	-125	30,338	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-65	-59	-73	-181	-288	-96	366
Cash flows from financing activities:
Borrowings on revolving credit lines
49,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,534	430	-111	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments on revolving credit lines
-6,500	-	-	-	-	31	38	-1,456	-2,336	-	-	-	-	-265	-3,940	-5,268	-3,934	-9,485	-4,711	880	2,589	-	-	-	-	-	-	-	-	-	-	-	-	-	-	204	113
Repayments of long-term debt
625	-	-	-	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of debt
-	-	-	-	-	-	3,500	2,600	28,156	-	1,505	3,618	4,038	-	15,424	12,992	3,215	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net borrowings on revolving credit lines
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,030	-	-	-	-	-	-	-	-
Repayments of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,218	-2,234	-	-1,210	1,585	-7,012	-	-	-	-	-	-	-	-	-	-	-	-
Earnout payments
-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,929	1,241	1,100	733	0	1,205	550	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on finance leases and financing liability
125	-	136	116	116	-	164	173	171	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on capital leases and sale-leaseback transactions
-	-	-	-	-	-	-	-	-	-	167	189	186	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from employee stock purchase plan, exercise of stock options, and dividend reinvestment plan
-	-	-	-	-	-28	64	-46	64	-20	126	47	1,199	922	292	356	115	-93	103	124	71	335	204	283	561	7	916	350	91	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18	156	57	53	1	40	12	59
Cash paid for repurchase of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	973	-	-	-	-	-	-	-	-	508	52	0	431
Dividends paid to common shareholders
-	-	-	-	-	-	-	-	-	5	2,614	2,593	2,580	2,257	2,252	2,243	2,243	2,243	2,244	1,751	1,739	1,563	1,548	1,542	1,284	1,298	1,272	881	886	772	663	513	512	-	-	-	-
Effect of exchange rate changes on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	318	-956	226	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
42,250	-2,235	-7,760	-305	-1,816	-7,264	-3,562	-3,475	-30,599	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-507	-912	-459	-872	-692	216	-259
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-5,605	-	-23,670	-10,179	-10,488	-17,858	62,811	-4,170	-1,863	25,727	3,678	-4,349	-8,708	-4,104	86,612	-1,663	235	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-1,127	3	-584	-311	447	-98	-640	-1,169	376	0	409	288	184	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash, cash equivalents and restricted cash
47,148	6,719	284	1,050	-15,533	11,728	-3,130	1,818	3,363	4,788	-3,053	-17,915	-1,167	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of subordinated debt to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,760	400	240	200	500	500	0	200
Common stock issued in business acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-644	97,974	0	7,423	-	-	0	0	-	-	-	-
Cash paid during the period for:
Interest
-	-	-	-	-	-	-	-	-	-	-	-	1,445	-	1,852	1,707	1,816	1,777	1,180	993	792	755	556	746	759	1,346	182	-8	318	-	-	-	-	-	-	-	-
Interest
1,056	898	351	786	1,514	1,271	1,364	1,468	1,456	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	222	185	421	175	205	239	428
Income taxes
133	674	1,652	3,345	237	1,638	5,249	2,724	594	-280	624	2,214	490	4,071	597	886	861	3,268	1,217	2,156	-1,561	1,494	1,268	5,350	553	-1,360	186	2,129	1,282	1,018	377	1,137	105	499	1,470	1,129	1,695
Net (decrease) increase in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14,792	23,216	-804	3,431	14,874	-1,901	-372	823	251	-1,439	-3,434	9,075	8,520	-1,860	-16,068	-1,461	4,676	-81	7,136	2,806	1,479	1,743	904
Net consideration receivable from divestiture
-	-	-	-	-	-	-	706	1,979	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-