| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Net income (loss) attributable to Covia Holdings Corporation | ||||||
-1,290,102 | -270,498 | 154,171 | 3,665 | |||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||
Depreciation, depletion, and amortization | ||||||
222,042 | 200,525 | 112,705 | 116,259 | |||
Amortization of deferred financing costs | ||||||
9,828 | 3,489 | - | - | |||
Prepayment penalties on Senior Notes | ||||||
- | 2,213 | - | - | |||
Goodwill and other asset impairments | ||||||
1,430,166 | 267,034 | - | 9,634 | |||
Inventory write-downs | ||||||
3,982 | 6,744 | - | - | |||
(Gain) loss on disposal of fixed assets | ||||||
21 | -107 | - | - | |||
Earnings of investee companies | ||||||
- | - | - | 1,022 | |||
Gain on sale of subsidiaries | ||||||
125,430 | - | - | -12,923 | |||
Gain on extinguishment of debt | ||||||
13,411 | - | - | - | |||
Change in fair value of interest rate swaps, net | ||||||
- | 296 | - | - | |||
Deferred income tax provision (benefit) | ||||||
-268,345 | -6,542 | -47,215 | -18,528 | |||
Stock compensation expense | ||||||
10,028 | 8,212 | - | - | |||
Net income from non-controlling interest | ||||||
123 | 103 | - | - | |||
Other, net | ||||||
-15,659 | -14,447 | 1,308 | -3,182 | |||
Change in operating assets and liabilities, net of business combination effect: | ||||||
Accounts receivable | ||||||
-62,405 | -105,850 | 55,554 | 39,117 | |||
Inventories | ||||||
-33,607 | -14,653 | 7,383 | -7,832 | |||
Prepaid expenses and other assets | ||||||
-18,943 | 6,067 | -5,101 | 10,888 | |||
Accounts payable | ||||||
-24,458 | -59,062 | 32,405 | -2,062 | |||
Accrued expenses | ||||||
18,898 | -33,525 | 39,285 | 11,345 | |||
Net cash provided by operating activities | ||||||
103,914 | 247,387 | 232,207 | 93,223 | |||
Capital expenditures | ||||||
87,535 | 264,052 | 108,854 | 73,516 | |||
Cash of HPQ Co. distributed to Sibelco prior to Merger | ||||||
- | 31,000 | - | - | |||
Payments to Fairmount Santrol Holdings Inc. shareholders, net of cash acquired | ||||||
- | 64,697 | - | - | |||
Capitalized interest | ||||||
7,312 | - | - | - | |||
Proceeds from sale of fixed assets | ||||||
11,025 | 3,180 | 695 | 23 | |||
Proceeds from sale of subsidiaries | ||||||
232,249 | - | - | - | |||
Other investing activities | ||||||
- | - | -770 | -2,239 | |||
Net cash provided by (used in) investing activities | ||||||
148,427 | -356,569 | -107,389 | -71,254 | |||
Proceeds from borrowings on term loan | ||||||
- | 1,650,000 | - | - | |||
Payments on term loan | ||||||
12,375 | 8,250 | - | - | |||
Repurchase of term loan | ||||||
48,335 | - | - | - | |||
Fees for repurchase of term loan | ||||||
157 | - | - | - | |||
Proceeds from borrowings on term debt | ||||||
- | - | 49,642 | 12,725 | |||
Payments on term debt | ||||||
- | - | 103 | 210,331 | |||
Prepayment on Senior Notes | ||||||
- | 100,000 | - | - | |||
Fees for Term Loan and Senior Notes prepayment | ||||||
- | 36,733 | - | - | |||
Payments on other long-term debt | ||||||
1,664 | 36,818 | - | - | |||
Payments on finance lease liabilities | ||||||
4,401 | - | - | - | |||
Fees for Revolver | ||||||
- | 4,500 | - | - | |||
Cash Redemption payment to Sibelco | ||||||
- | 520,377 | - | - | |||
Proceeds from share-based awards exercised or distributed | ||||||
14 | 464 | - | - | |||
Tax payments for withholdings on share-based awards exercised or distributed | ||||||
636 | 318 | - | - | |||
Dividends paid | ||||||
- | - | 50,000 | - | |||
Net cash used in financing activities | ||||||
-67,554 | -66,799 | -461 | -197,606 | |||
Effect of foreign currency exchange rate changes | ||||||
567 | 2,052 | 341 | -480 | |||
Increase (decrease) in cash and cash equivalents | ||||||
185,354 | -173,929 | 124,698 | -176,117 | |||
Supplemental disclosure of cash flow information: | ||||||
Interest paid, net of capitalized interest | ||||||
77,601 | 67,960 | 17,360 | 23,040 | |||
Income taxes (paid) refunded | ||||||
7,030 | -15,532 | -32,390 | -5,206 | |||
Non-cash increase in asset retirement obligations | ||||||
13,785 | - | - | - | |||
Non-cash investing activities: | ||||||
Capital expenditures and capitalized interest in accounts payable and accrued expenses | ||||||
2,491 | 12,222 | -3,063 | - | |||
Right-of-use assets obtained in exchange for lease liabilities | ||||||
426,079 | - | - | - | |||
Unimin [Member] | ||||||
Prepayment on term loans | ||||||
- | 314,642 | - | - | |||
Fairmount Santrol Holdings Inc [Member] | ||||||
Prepayment on term loans | ||||||
- | 695,625 | - | - | |||