CARPENTER TECHNOLOGY CORPORATION CRS Cash Flow

Carpenter technology corporation (CRS)

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	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09
OPERATING ACTIVITIES
Net income
39,900	38,800	41,200	48,900	51,100	35,500	31,500	42,800	30,200	92,100	23,400	25,500	20,700	7,000	-6,200	14,900	-24,000	11,500	8,900	22,500	-1,400	24,100	13,500	38,100	30,600	29,500	34,600	40,900	32,900	33,200	39,500	41,000	33,000	23,900	23,700	25,900	28,800	9,400	7,600	5,900	2,100	3,400	-9,300
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization
31,200	30,400	30,600	30,600	30,800	30,400	29,700	29,400	29,200	29,300	28,700	29,000	30,100	29,800	28,900	29,300	29,700	30,400	29,900	31,100	30,600	30,300	30,300	31,000	27,400	26,800	26,700	27,000	26,000	25,600	25,500	25,300	21,300	18,700	18,500	18,500	17,900	15,000	15,100	15,000	14,900	14,800	14,400
Deferred income taxes
1,500	2,000	3,500	9,500	2,100	3,700	1,200	7,800	-2,700	-66,800	600	4,200	-1,700	1,600	37,500	7,400	-9,100	3,500	-1,000	-8,000	-1,100	66,900	2,600	-11,700	2,700	0	-700	-27,900	37,600	-400	100	18,600	4,600	7,500	6,100	-900	100	-500	-3,700	4,200	3,900	-4,200	-4,800
Net pension expense
3,900	3,800	3,800	2,900	2,900	2,900	2,900	3,600	3,500	3,500	3,600	8,700	8,700	14,200	16,800	13,500	13,400	13,500	13,400	9,900	11,600	11,500	11,500	14,900	15,000	13,000	15,000	17,100	17,400	17,100	17,200	11,800	10,600	9,800	9,900	15,300	15,200	15,100	15,200	15,500	15,300	15,200	15,300
Share-based compensation expense
3,900	4,400	4,100	4,900	4,600	5,100	3,000	4,800	4,700	3,900	4,200	3,000	3,500	3,500	3,000	1,900	1,900	2,200	2,700	3,200	4,600	-300	2,500	2,400	3,100	2,800	3,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss on disposals of property, plant and equipment and assets held for sale
100	-100	0	-500	-600	0	-100	-500	-1,600	-300	-100	-300	-1,900	-200	-100	-400	-100	0	-100	-400	-400	-400	0	-	-	-	-	-1,200	-500	-400	-100	-	-	-	-	-900	600	-400	-100	-2,600	-100	0	700
Changes in working capital and other:
Accounts receivable
-2,600	-7,100	2,100	-6,800	51,500	-42,900	3,500	32,400	50,600	2,600	1,200	19,600	15,800	12,400	-13,200	-15,600	800	-9,000	-24,400	-18,800	16,100	-6,500	-16,200	24,400	48,800	-21,100	-57,700	-11,900	69,100	-33,700	-36,100	27,800	25,800	-21,700	-800	-26,800	79,200	-4,100	8,600	-4,700	68,500	-5,800	4,500
Inventories
-23,000	57,100	51,100	-74,300	17,400	100,400	50,500	-41,500	-40,400	35,200	46,300	-14,400	14,800	40,700	33,500	-19,600	-16,800	1,800	33,000	-54,400	-43,800	31,400	30,800	-23,600	1,300	11,900	47,400	-26,800	-47,100	10,100	78,700	-33,300	300	15,400	94,900	5,300	-5,700	49,900	66,600	9,200	8,100	6,600	-4,800
Other current assets
-7,700	2,800	10,100	800	-15,600	1,500	6,500	-6,000	-2,000	8,600	9,000	800	-9,200	-39,000	44,600	-10,900	4,800	3,400	4,800	-11,700	-49,400	55,100	6,300	-1,400	-3,200	600	9,000	-44,100	24,300	3,600	4,700	-5,000	5,300	-3,500	1,600	-6,100	4,000	-3,000	-1,300	-2,600	-2,300	-11,700	-7,600
Accounts payable
-25,900	-19,000	18,000	-16,500	-16,200	5,300	47,500	-6,200	5,100	-4,100	15,900	1,900	23,400	17,900	-700	-1,000	11,000	-20,100	2,500	-17,600	-14,300	-29,300	1,300	16,300	49,600	-34,200	-14,900	22,600	15,100	-47,500	-500	-100	17,700	-30,800	9,300	23,200	16,800	-28,400	22,900	7,300	41,700	-9,000	20,800
Accrued liabilities
-16,300	13,700	-30,800	20,300	2,800	12,800	-40,800	23,200	11,700	15,500	-21,700	21,700	900	14,500	-10,500	8,800	-11,000	-9,700	-1,600	10,600	2,300	-7,800	-17,200	10,300	3,800	-16,700	-18,500	18,400	11,900	3,100	-23,500	-100	24,300	9,300	-13,400	7,700	12,300	0	-15,400	4,500	12,300	-100	-3,300
Boarhead settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	21,800	-	-	-	-	-	-	-	-
Pension plan contributions
1,300	1,200	2,400	1,200	1,000	1,000	2,300	1,000	800	700	4,200	0	0	100,000	0	-	-	-	-	1,700	1,600	1,100	2,800	1,700	1,500	1,600	1,500	1,600	85,400	9,800	48,100	10,700	3,900	3,800	11,600	-	-	-	-	-	-	-	-
Other postretirement plan contributions
1,100	700	900	600	1,000	700	800	900	700	1,300	500	800	600	400	1,400	3,500	3,400	2,700	3,400	3,000	3,500	3,100	3,600	3,300	2,800	3,800	3,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-3,300	-900	3,100	4,400	2,000	-2,800	2,100	600	200	600	1,000	-3,300	3,800	3,700	-1,500	5,600	-1,800	2,300	-3,400	100	-2,300	-900	2,200	2,300	500	900	2,400	1,600	2,600	2,800	-300	1,500	1,100	-1,400	-1,000	-2,900	1,900	1,800	-1,600	5,000	7,800	8,300	4,100
Net cash provided from operating activities
72,300	21,900	700	175,200	10,000	37,800	9,400	118,500	73,400	24,700	-7,400	94,000	61,700	-29,500	4,100	120,200	65,600	30,100	41,500	134,200	120,900	12,500	15,000	95,600	80,900	23,600	39,500	179,200	7,100	38,900	-36,700	98,300	75,700	46,200	-74,000	117,200	11,100	-33,600	-30,500	48,100	8,200	22,700	36,200
INVESTING ACTIVITIES
Purchases of property, plant, equipment and software
49,700	46,800	47,500	49,600	49,000	40,100	41,600	54,100	25,200	26,800	28,900	35,400	18,000	18,500	26,600	29,100	16,600	19,600	29,900	18,200	24,900	68,400	59,000	51,000	93,700	114,100	90,400	109,100	64,200	80,500	56,400	50,500	47,000	33,000	27,300	44,000	17,900	9,600	8,100	17,100	8,000	7,800	11,300
Proceeds from disposals of property, plant and equipment and assets held for sale
200	0	100	100	200	0	100	-100	2,000	0	0	-	-	-	-	-	-	-	-	0	100	0	100	-	-	-	-	-	-	-	-	600	400	0	200	100	900	0	100	100	0	0	900
Proceeds from sales and maturities of marketable securities
0	0	0	0	0	0	2,900	700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	0	30,400	8,900	55,700	11,600	89,800	38,500	1,800	0	15,000
Purchases of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,400	16,900	9,900	53,100	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-4,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for investing activities
-49,500	-46,800	-47,400	-49,500	-37,400	-119,100	-38,600	-53,500	-30,200	-26,800	-28,900	-20,000	-47,000	-18,500	-26,600	-27,100	-10,300	-19,300	-25,900	-17,900	-24,800	-68,400	-58,900	-50,700	-93,700	-113,800	-90,400	-108,200	-63,900	-72,500	-56,400	-51,600	-58,100	-34,400	3,300	-50,200	21,800	-55,700	28,700	4,200	-82,400	-59,300	4,600
FINANCING ACTIVITIES
Credit agreement borrowings
216,500	26,500	88,100	0	41,700	122,200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit agreement repayments
135,400	7,600	38,100	100,000	21,700	42,200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change in short-term credit agreement borrowings
-30,000	22,400	7,900	-7,300	6,400	20,600	0	0	-9,300	6,000	3,300	-14,200	14,200	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid
9,700	9,700	9,700	9,700	9,600	9,700	9,600	8,600	8,600	8,600	8,600	8,500	8,600	8,500	8,500	8,500	8,400	8,900	9,000	9,100	9,500	9,700	9,600	9,700	9,600	9,600	9,600	9,600	9,600	9,500	9,600	9,500	8,000	8,100	8,100	8,000	8,100	8,000	8,000	8,000	7,900	8,000	8,000
Purchases of treasury stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	27,600	50,400	45,900	64,200	50,300	10,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on seller financed debt related to purchase of software
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,200	1,200	1,300	1,200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	100,000	-	-	-	-	-	-	-	-
Proceeds from stock options exercised
100	1,600	2,600	200	100	400	3,200	8,400	1,000	2,100	1,400	0	400	1,500	300	200	100	100	100	0	1,600	0	700	300	1,200	3,100	2,500	0	400	800	1,100	200	100	800	700	1,100	200	200	100	-	-	-	-
Withholding tax payments on share-based compensation awards
100	200	7,500	0	100	200	4,100	1,500	300	400	200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefits on share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	500	100	100	300	900	1,000	200	400	300	3,000	900	500	200	600	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided from financing activities
41,400	33,000	43,300	-116,800	16,800	91,100	-10,500	-56,700	-17,200	-900	-4,100	-22,800	-20,700	18,100	-8,400	-35,000	-51,600	-21,000	-56,000	-73,200	-95,200	17,800	-8,800	-9,300	-8,100	-5,600	-6,100	-110,400	288,200	-16,800	-5,500	-8,400	-161,100	-7,100	-106,800	240,600	-7,800	-11,000	-7,900	-27,900	-7,900	-9,700	-8,000
Effect of exchange rate changes on cash and cash equivalents
-1,100	-2,800	1,000	-800	1,000	1,700	500	1,100	100	-1,200	-1,000	-1,500	100	1,500	-200	500	-1,400	700	1,000	-2,500	-300	900	-1,300	-900	0	1,000	500	2,200	200	900	200	-2,400	-200	-700	-200	800	1,800	-800	2,600	-2,400	-2,000	-800	1,700
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
63,100	5,300	-2,400	8,100	-9,600	11,500	-39,200	9,400	26,100	-4,200	-41,400	49,700	-5,900	-28,400	-31,100	58,600	2,300	-9,500	-39,400	40,600	600	-37,200	-54,000	34,700	-20,900	-94,800	-56,500	-37,200	231,600	-49,500	-98,400	35,900	-143,700	4,000	-177,700	308,400	26,900	-101,100	-7,100	22,000	-84,100	-47,100	34,500
SUPPLEMENTAL CASH FLOW INFORMATION:
Non-cash investing activities:
Acquisition of property, plant, equipment and software
1,600	-7,100	19,600	-	1,700	1,000	10,100	-	7,100	-3,200	9,000	-	-200	-3,600	9,600	-	1,600	-5,000	10,700	-	1,700	-30,300	37,900	-	-23,700	-16,600	81,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Seller financed debt related to purchase of software
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-