Curtiss wright corp (CW)
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'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net earnings

303,751

307,583

301,010

292,983

287,699

275,749

260,664

250,125

225,987

214,891

215,756

197,744

187,057

187,329

188,563

176,515

162,289

145,461

92,362

83,511

94,165

113,338

143,895

155,223

152,202

137,981

129,167

104,105

93,475

113,844

113,515

134,129

143,185

126,389

120,388

116,259

110,361

102,180

0

0

0

Adjustments to reconcile net earnings to net cash used for operating activities
Depreciation and amortization

104,761

102,412

102,801

103,292

104,141

102,949

102,326

101,291

99,670

99,995

98,404

96,982

96,447

96,008

96,801

98,259

99,589

100,810

104,425

109,083

113,687

118,931

122,771

122,650

122,049

121,497

114,402

107,491

100,762

93,896

92,258

92,694

91,312

88,300

86,269

83,154

80,958

79,946

0

0

0

Gain on divestiture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Gain (Loss) on Disposition of Other Assets

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on sale of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-16,991

-29,765

-35,576

-27,932

-29,184

0

0

0

-

-

-

-

29,912

0

0

0

-

-

-

-

-

-

-

-

Gain on sale/disposal of long-lived assets

10,937

11,054

6,884

6,303

927

1,120

277

671

630

-29

2,100

2,238

2,100

2,069

81

304

449

945

828

426

-146

-632

-439

-558

-147

-77

1,037

439

-168

414

-390

435

1,293

670

-70

-471

-1,364

-1,446

0

0

0

Deferred income taxes

-39,604

-40,787

-12,852

-12,666

-14,742

-8,562

12,045

13,086

14,465

5,782

3,843

-17,101

-14,040

-1,224

-84,606

-66,446

-52,087

-63,535

29,794

33,584

30,672

27,241

322

3,115

-9,380

-5,928

8,457

5,204

5,756

3,871

-961

-71

-1,975

-3,345

-1,456

-1,652

-1,966

2,828

0

0

0

Share-based compensation

13,514

13,669

13,510

13,273

12,998

14,094

14,245

13,357

12,799

11,572

10,838

10,509

10,119

9,478

10,061

9,832

9,576

9,473

9,183

8,840

8,718

8,500

8,416

8,453

7,081

7,349

7,434

7,807

9,417

9,428

9,545

9,231

9,509

9,621

13,003

13,380

13,674

13,378

0

0

0

Inventory Write-down

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64,609

82,182

82,182

41,369

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in operating assets and liabilities, net of businesses acquired and divested:
Accounts receivable, net

21,587

12,613

22,908

37,591

47,681

57,492

57,556

46,664

11,466

16,388

41,712

20,835

2,654

-91,692

-31,173

-37,888

-19,860

77,106

-16,797

-2,933

-13,694

-12,845

36,820

22,335

284

-6,599

-35,808

-38,697

-50,564

-26,524

-15,164

49,899

71,749

78,850

55,626

26,835

64,601

53,979

0

0

0

Inventories, net

5,560

3,485

-679

8,652

34,569

41,197

29,860

24,448

5,253

-19,711

-22,112

-19,452

-18,469

-4,391

-6,702

2,677

11,627

4,039

20,778

5,660

15,038

19,375

17,115

33,495

29,142

25,499

29,598

17,334

21,041

30,100

24,888

20,173

18,503

21,123

12,575

15,355

-718

-11,401

0

0

0

Progress payments

5,146

4,834

5,402

4,047

15,836

11,121

1,213

8,808

-1,550

774

-1,186

1,612

3,249

2,583

7,399

5,590

2,334

3,680

3,653

-2,062

-2,311

-6,971

-8,791

-2,423

-1,668

-6,131

-6,091

-16,682

-16,765

-7,923

2,918

8,240

11,273

11,264

-1,429

-532

2,628

6,493

0

0

0

Accounts payable and accrued expenses

-7,935

-18,629

-5,581

121

19,621

48,930

14,596

13,931

435

4,323

19,625

21,752

9,445

4,125

-3,523

-9,522

-22,397

-447

-18,867

-14,067

-409

16,147

-4,702

16,728

2,618

8,567

14,362

850

-14,257

-7,290

8,129

-7,921

20,261

15,628

1,232

4,254

2,856

9,925

0

0

0

Deferred revenue

24,600

36,134

30,189

10,495

4,908

23,082

31,769

43,592

39,565

36,898

-9,249

-9,066

-8,846

-11,084

47,676

36,107

32,382

4,839

-21,954

-18,074

7,346

24,471

24,547

17,159

-16,271

-7,281

-40,932

-36,028

-51,895

-34,436

24,823

48,500

63,679

51,724

24,261

-10,270

-7,160

-20,734

0

0

0

Income taxes payable

-4,790

-15,625

1,449

1,737

1,694

-8,847

-1,741

26

-1,823

-5,479

-8,497

23,992

20,067

11,797

-18,250

-1,886

-2,381

-7,436

64,749

6,060

12,501

38,946

-11,192

-4,427

-4,262

-16,811

1,060

-4,211

-5,519

15,211

-1,390

12,595

15,224

3,917

11,095

3,818

2,853

-1,122

0

0

0

Net pension and postretirement liabilities

-151,033

-1,310

1,633

4,817

5,200

-43,759

-46,954

-45,825

-43,204

3,481

4,797

4,034

-1,058

3,405

6,100

-502

4,419

-139,610

-138,593

-149,582

-163,862

-26,431

-20,303

-27,927

-10,718

-1,630

-3,330

5,675

1,080

-1,132

-2,859

6,730

8,825

-4,234

-5,825

4,951

7,705

24,528

0

0

0

Other Operating Activities, Cash Flow Statement

-

-

-

-

-

-

-

-

-

-

-

-

-

20,405

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current and long-term assets and liabilities

2,127

11,631

7,431

10,875

-9,432

-28,178

-40,035

-43,993

-29,491

-27,110

7,250

12,416

1,236

6,716

-3,915

-1,968

-2,014

-11,870

-13,222

-15,461

-17,125

-4,219

-7,296

-8,315

801

-6,294

-12,434

-8,893

-8,361

-4,571

15,900

9,389

5,638

2,160

-6,293

-3,293

2,177

4,791

0

0

0

Other current and long-term liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Total adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

Net cash used for operating activities

280,686

421,404

396,313

349,974

355,677

336,273

325,380

354,465

342,391

388,712

318,292

327,498

327,996

423,197

434,382

430,380

403,830

162,479

173,902

136,079

175,268

331,766

256,614

261,443

224,314

237,827

232,922

195,035

156,113

152,474

202,969

205,040

239,919

201,853

186,629

183,966

151,713

171,499

0

0

0

Cash flows from investing activities:
Proceeds from sale/disposal of long-lived assets

15,831

15,093

13,721

13,709

9,566

9,117

10,474

10,748

7,503

6,769

4,260

3,779

3,556

3,674

1,567

1,684

1,643

2,277

1,807

1,103

1,002

594

507

732

1,218

1,348

3,122

3,132

3,116

2,557

1,891

2,559

2,379

2,497

1,583

1,032

388

744

0

0

0

Proceeds from divestiture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

31,344

135,810

123,597

156,975

152,965

0

0

0

-

-

-

-

52,123

52,123

59,325

59,325

8,100

0

0

0

-

-

-

-

Payments to Acquire Intangible Assets

0

-

0

0

0

-

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,761

2,439

1,785

1,951

22

119

27

122

1,608

0

0

0

Additions to property, plant, and equipment

71,355

69,752

73,049

67,036

61,480

53,417

48,118

49,269

51,302

52,705

55,523

54,331

48,325

46,776

37,791

35,556

35,241

35,512

36,483

46,808

57,846

67,115

68,846

76,112

75,597

72,242

84,787

74,364

77,797

82,954

80,069

87,499

85,244

84,322

74,263

67,965

61,136

52,769

0

0

0

Payments to Acquire Businesses, Gross

187,215

185,209

50,075

47,505

259,204

210,167

210,167

212,737

-6,742

232,630

232,630

232,630

239,667

295

260

295

0

13,228

13,265

13,230

14,735

34,364

169,267

172,611

170,500

236,135

555,438

552,094

558,931

460,439

51,967

130,707

164,830

178,080

132,344

53,725

54,297

42,200

0

0

0

Payments for (Proceeds from) Previous Acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

457

436

1,195

1,195

989

1,349

2,786

5,122

6,663

7,675

5,655

4,295

2,524

0

0

0

-

-

-

-

0

0

0

0

Net cash used for investing activities

-242,774

-240,040

-108,381

-99,800

-310,804

-255,516

-249,963

-247,248

-32,319

-272,328

-278,295

-282,719

-283,973

-42,934

-41,075

-25,574

-6,285

-15,576

87,433

65,824

86,558

53,448

-182,502

-198,679

-250,001

-313,692

-644,100

-628,065

-636,841

-492,998

-81,613

-159,083

-190,321

-251,827

-197,043

-120,685

-115,167

-95,833

0

0

0

Cash flows from financing activities:
Borrowings under revolving credit facility

222,579

37,692

37,772

12,536

373,101

372,980

373,369

372,684

11,254

7,658

5,219

6,820

5,568

7,839

8,987

46,685

71,419

70,324

69,940

29,388

202,370

364,557

735,832

824,243

729,517

983,109

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

500,000

500,000

400,000

400,000

0

0

0

0

-

-

-

645,600

513,100

0

0

0

Payment of revolving credit facility

76,312

37,934

38,716

13,495

373,922

372,887

372,753

372,545

10,851

8,176

5,613

7,113

5,902

8,430

9,574

46,610

71,471

70,134

69,134

28,992

252,081

414,770

736,398

824,575

694,117

1,229,148

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-25

0

0

0

0

-

-

-

896,667

581,771

0

0

0

Repurchases of common stock

150,203

50,661

157,558

177,542

198,735

198,592

92,086

71,788

51,570

52,127

63,892

76,745

88,526

105,249

189,202

251,974

276,753

294,130

205,889

138,423

107,192

65,220

44,555

23,911

5,013

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from share-based compensation

12,159

11,770

11,748

10,991

10,466

11,940

13,460

15,165

15,135

14,179

15,795

14,576

19,585

22,300

32,449

32,551

29,000

28,706

17,874

20,959

24,663

38,182

40,818

45,073

41,252

27,450

22,935

15,290

14,485

15,492

15,190

14,886

14,191

11,746

11,498

10,972

11,263

10,560

0

0

0

Proceeds from (Payments for) Other Financing Activities

-827

-812

-795

-782

-768

-752

-737

-721

-649

-692

-678

-663

-705

-635

-1,479

-1,170

-875

-581

567

577

436

296

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

11,101

11,647

11,549

10,356

9,119

6,136

6,743

7,492

9,610

9,081

8,484

7,546

2,137

808

346

37

57

497

497

1,360

1,343

1,631

1,685

958

985

0

0

0

Net cash provided by (used for) financing activities

-20,804

-68,145

-224,337

-244,417

-266,186

-263,639

-255,213

-232,811

-211,421

-213,898

-67,827

-81,271

-86,474

-96,141

-170,581

-241,104

-270,846

-289,218

-213,672

-134,748

-149,325

-92,438

-17,174

-16,166

35,695

140,138

345,364

362,550

371,194

254,241

62,320

112,080

129,265

179,804

-17,207

-77,439

-64,831

-71,855

0

0

0

Effect of exchange-rate changes on cash

-13,779

1,748

-11,800

-8,311

-20,777

-16,172

-6,478

1,781

24,961

18,786

7,968

-3,948

-21,906

-18,971

-18,598

-25,531

-5,030

-19,104

-22,209

-16,315

-24,874

-17,954

-5,829

4,499

-838

-1,002

-2,370

442

-2,733

3,919

888

-8,044

235

-3,562

-1,310

5,502

548

-702

0

0

0

Net decrease in cash and cash equivalents

3,329

114,967

51,795

-2,554

-242,090

-199,054

-186,274

-123,813

123,612

-78,728

-19,862

-40,440

-64,357

265,151

204,128

138,171

121,669

-161,419

25,454

50,840

87,627

274,822

51,109

51,097

9,170

63,271

-68,184

-70,038

-112,267

-82,364

184,564

149,993

179,098

126,268

-28,931

-8,656

-27,737

3,109

0

0

0

Supplemental disclosure of non-cash activities:
Capital expenditures incurred but not yet paid

2,569

2,015

1,597

1,853

2,275

2,193

904

-240

-212

976

2,580

3,378

3,302

2,512

2,369

2,536

2,186

2,108

2,680

1,867

2,233

2,891

3,684

3,636

3,515

4,546

-692

-99

-554

1,478

6,315

6,311

7,077

3,600

0

0

0

-

-

-

-

Property and equipment under build to suit transaction

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,735

21,111

18,601

14,233

6,225

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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0

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