CECO ENVIRONMENTAL CORP CECE Cash Flow

Ceco environmental corp (CECE)

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
19,255	17,707	10,242	-4,604	-11,020	-7,121	-19,642	-3,691	2,696	-3,029	-42,612	-39,822	-41,271	-38,254	9,707	-944	-2,877	-5,734	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	6,842	11,571	11,013	10,850	10,540	9,591	9,059	8,272	0	0	0
Adjustment to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization
10,034	10,609	11,328	11,836	12,546	13,272	14,080	14,876	15,447	16,088	15,991	16,743	17,846	18,903	20,320	19,905	18,263	16,520	14,382	12,822	11,950	11,268	11,549	10,723	9,003	6,647	0	0	0	-	-	-	-	-	-	-	-
Unrealized foreign currency loss
582	526	-569	-348	-1,596	-836	-690	-140	1,989	2,103	633	306	-1,372	-777	-55	197	1,244	-2,364	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on interest rate swaps
-	248	394	420	267	276	271	302	322	327	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments to earnout liabilities
-	-	-	-	-	-	-	-	-	-6,610	-1,931	1,430	7,768	4,218	1,793	7,817	10,737	11,222	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnout payments
-	-	-	-	-	2,862	2,862	2,050	5,889	7,797	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	941	609	585	561	549	545	436	304	0	0	0	-	-	-	-	-	-	-	-
Loss on sale of property and equipment
-	-	-	-	-	217	171	-38	-44	-130	-105	-111	-291	-217	0	0	0	-	-	-	-	62	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on divestitures, net of selling costs
-	-70	-490	-15,564	-15,637	-4,390	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt discount amortization
895	1,060	1,209	1,408	1,121	1,143	1,142	1,111	1,072	1,033	1,004	1,019	1,036	1,054	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,223	1,263	1,340	1,399	0	0	0
Non cash interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	92	91	91	91	0	0	0
Share-based compensation expense
2,467	2,668	3,529	3,455	3,359	3,187	2,931	2,579	2,385	1,768	1,735	1,808	1,714	2,280	2,476	2,365	2,182	2,070	1,756	1,763	1,747	1,659	1,665	1,477	1,317	1,100	825	707	666	662	648	634	595	693	0	0	0
Bad debt expense
204	295	842	1,105	1,348	1,357	2,936	3,581	3,824	3,895	2,708	1,514	948	848	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0	-	331	280	344	402	0	0	0
Inventory reserve expense
168	316	419	436	440	519	-35	368	371	240	1,032	645	1,096	1,167	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Inventory reserve expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	220	202	247	269	0	0	0
Deferred income tax benefit
-	-	-	-	-	-42	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory reserve expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of divestitures:
Accounts receivable
-16,201	15,616	-7,882	6,591	25,299	6,084	18,667	9,774	-7,190	-14,107	-10,791	-16,024	-6,803	-13,294	-16,251	-6,449	1,765	15,605	11,371	7,934	-787	-2,492	6,145	-242	3,373	-2,753	620	4,314	892	5,089	1,024	-1,416	-4,225	-3,261	0	0	0
Costs and estimated earnings in excess of billings on uncompleted contracts
9,349	5,029	5,307	4,062	3,502	4,557	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	0	0	-8,541	-	-18,418	-13,134	-10,977	-4,447	14,258	9,959	14,976	6,625	-2,893	1,502	-1,999	941	0	0	0	-	-	-	-	-	-	-	-
Costs and estimated earnings in excess of billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,211	3,712	2,662	-2,298	0	0	0
Inventories
-737	207	-1,984	2,004	144	1,704	1,668	335	-258	-887	-1,317	-4,599	-7,513	-9,449	-3,879	-558	1,120	3,477	-2,416	-1,607	-1,247	-1,993	-773	-2,253	-2,032	-1,680	-1,207	-907	-591	-458	-544	-689	-30	181	0	0	0
Prepaid expense and other current assets
11,306	7,097	1,496	5,000	-466	-773	-226	-4,129	-4,663	-3,530	-2,409	-3,345	-168	2,218	61	804	-873	-3,132	-5,950	-3,241	-1,765	-1,500	-1,223	-1,778	-2,451	-1,894	3,247	284	570	-527	-47	653	-250	330	0	0	0
Deferred charges and other assets
-1,208	-758	1,308	1,900	633	416	565	-574	-1,254	-1,585	-273	400	565	73	-676	-567	-447	191	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
-4,701	-4,028	-2,079	425	10,394	21,321	12,408	4,776	4,570	-15,847	-5,655	-10,998	-8,025	-6,593	-20,946	-14,899	-24,890	-8,582	6,775	10,834	11,388	2,867	2,984	-811	1,141	4,472	1,645	3,041	1,893	319	-27	-3,674	-5,195	-3,676	0	0	0
Billings in excess of costs and estimated earnings on uncompleted contracts
10,456	14,274	-5,406	-1,186	5,740	70	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred charges and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-5,049	-332	-66	-203	-217	81	109	109	0	0	0
Accrued litigation settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,536	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Billings in excess of costs and estimated earnings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	0	0	6,543	-	11,435	15,904	3,845	4,324	-1,747	-422	-531	-2,169	-2,939	-4,080	-3,415	-2,147	2,567	4,010	1,974	1,303	7	1,210	2,041	1,837	0	0	0
Income taxes payable
-958	-1,671	183	-1,406	-1,923	1,839	-993	1,129	1,010	-1,827	-3,322	-143	319	143	3,500	-269	1,336	1,166	-476	-16	-1,962	-1,164	1,155	775	222	-134	-2,376	-2,117	353	465	1,056	114	-350	-1,253	0	0	0
Other liabilities
-2,694	-2,246	-5,807	-5,899	-3,216	-3,446	5,554	4,779	4,559	5,061	706	1,141	849	279	4,032	1,126	811	-1,668	-11,923	-8,402	-7,485	-4,704	-1,321	-411	-168	1,538	2,550	2,275	1,773	169	78	-431	-134	-152	0	0	0
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	64,864	-	74,382	55,002	20,515	12,637	2,502	17,599	18,300	17,665	20,105	17,837	16,927	24,181	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) operating activities
30,969	10,227	17,677	820	4,963	21,952	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,665	14,876	15,609	8,738	0	0	0
Cash flows from investing activities:
Acquisitions of property and equipment
6,208	5,655	4,939	3,700	3,047	3,090	2,119	978	1,084	1,028	1,071	1,165	1,274	1,076	1,048	974	856	763	876	781	855	1,151	1,645	1,852	1,739	1,377	572	377	253	273	493	789	826	913	0	0	0
Net cash proceeds from divestitures
-	-	-	-	-	35,052	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	104,432	0	0	0	-	-	-	-	-	-	-	-
Net proceeds from sale of assets
-	-	-	-	-	6,296	6,312	436	469	368	723	410	386	657	1,110	1,100	3,387	3,205	2,659	3,010	3,024	7,738	0	0	0	-	-	-	-	-	-	-	-	714	0	0	0
Net cash provided by (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-888	-	-289	-37,355	-34,950	-35,039	-71,532	-42,170	-42,230	-37,812	-2,169	-74,566	-76,763	-105,594	0	0	0	-	-	-	-	-	-	-	-
Net cash used in by investing activities
-5,699	-5,146	-2,457	6,844	7,497	38,258	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-378	-601	-638	-199	0	0	0
Cash flows from financing activities:
Borrowings on revolving credit lines
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments on revolving credit lines
0	-	-	-	-	-3,723	0	0	0	-	-	-	-	-13,407	-22,627	-23,398	-17,250	-10,727	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Repayments of long-term debt
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of debt
-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net borrowings on revolving credit lines
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Repayments of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Earnout payments
-	-	-	-	-	-	-	-	-	-	-	-	-	9,270	10,003	3,074	3,038	2,488	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on finance leases and financing liability
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on capital leases and sale-leaseback transactions
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from employee stock purchase plan, exercise of stock options, and dividend reinvestment plan
-	-	-	-	-	54	62	124	217	1,352	2,294	2,460	2,769	1,685	670	481	249	205	633	734	893	1,383	1,055	1,767	1,834	1,364	0	0	0	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	248	267	151	106	112	0	0	0
Cash paid for repurchase of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	973	0	0	0	-	-	-	-	-	-	-	-	991	0	0	0
Dividends paid to common shareholders
-	-	-	-	-	-	-	-	-	7,792	10,044	9,682	9,332	8,995	8,981	8,973	8,481	7,977	7,297	6,601	6,392	5,937	5,672	5,396	4,735	4,337	3,811	3,202	2,834	2,460	0	0	0	-	-	-	-
Effect of exchange rate changes on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
31,950	-12,116	-17,145	-12,947	-16,117	-44,900	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,750	-2,935	-1,807	-1,607	0	0	0
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-50,955	-	-62,195	24,286	30,295	38,920	82,505	23,372	23,193	16,348	-13,483	69,451	72,137	81,080	0	0	0	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-2,019	-445	-546	-602	-1,460	-1,531	-1,433	-384	1,073	881	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash, cash equivalents and restricted cash
55,201	-7,480	-2,471	-5,885	-5,117	13,779	6,839	6,916	-12,817	-17,347	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of subordinated debt to common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,600	1,340	1,440	1,200	1,200	0	0	0
Common stock issued in business acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	104,753	0	0	0	-	-	0	0	-	-	-	-
Cash paid during the period for:
Interest
-	-	-	-	-	-	-	-	-	-	-	-	6,552	-	7,152	6,480	5,766	4,742	3,720	3,096	2,849	2,816	3,407	3,033	2,279	1,838	0	0	0	-	-	-	-	-	-	-	-
Interest
3,091	3,549	3,922	4,935	5,617	5,559	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,003	986	1,040	1,047	0	0	0
Income taxes
5,804	5,908	6,872	10,469	9,848	10,205	8,287	3,662	3,152	3,048	7,399	7,372	6,044	6,415	5,612	6,232	7,502	5,080	3,306	3,357	6,551	8,665	5,811	4,729	1,508	2,237	4,615	4,806	3,814	2,637	2,118	3,211	3,203	4,793	0	0	0
Net (decrease) increase in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,051	40,717	15,600	16,032	13,424	-1,199	-737	-3,799	4,453	12,722	12,301	-333	-10,869	-14,713	-12,934	10,270	14,537	11,340	13,164	6,932	0	0	0
Net consideration receivable from divestiture
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-