DARLING INGREDIENTS INC. DAR Cash Flow

Darling ingredients inc. (DAR)

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
Cash flows from operating activities:
Net income
86,091	243,446	26,837	31,044	19,640	42,144	-5,137	-29,138	98,075	106,944	8,684	10,328	7,398	41,680	28,890	33,991	2,663	85,875	-7,357	4,937	1,824	68,788	15,954	34,575	-51,006	22,493	27,651	26,418	32,405	28,802	37,172	36,225	28,571	29,497	41,132	52,227	46,562	10,012	11,382	11,371	11,478
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
84,671	86,453	80,407	79,486	79,164	85,277	78,842	78,454	78,619	80,794	77,202	72,990	71,114	77,468	70,653	69,531	72,256	69,934	67,327	66,245	66,398	69,039	67,311	67,498	65,669	31,713	23,131	22,076	21,867	22,413	20,524	21,674	20,760	21,220	18,953	19,055	19,681	10,055	7,623	7,206	7,024
Loss (gain) on disposal of property, plant, equipment and other assets
-61	-263	2,669	13,926	4,250	-237	-172	-762	462	-300	179	233	125	-871	-46	-129	-698	-684	-394	-186	-47	1,461	137	-77	916	447	171	417	210	-2,162	434	269	360	478	208	-24	-40	-101	180	-23	-5
Gain on insurance proceeds from insurance settlements
0	5,229	526	0	845	0	0	750	503	1,427	0	0	0	-	-	-	-	0	220	0	341	0	1,550	0	0	3,962	0	-450	-1,531	-6,178	1,006	900	0	-	-	-	-	-	-	-	-
Deferred taxes
6,377	-15,765	-1,628	-236	-2,901	32,682	-8,196	-4,863	-2,649	113,047	-3,037	-2,751	-8,454	16,755	-3,411	1,893	-3,705	-16,447	11,865	-3,728	503	34,708	-610	-3,383	-9,499	-58,300	10,168	7,045	16,494	-25,990	5,111	7,288	3,253	-42,821	7,287	7,410	3,422	-2,760	667	470	-779
Increase (decrease) in long-term pension liability
-264	709	112	364	646	1,838	-498	-36	159	809	212	660	702	675	491	-450	-1,146	-5,489	328	89	261	9,296	6,816	-5,831	-688	-6,180	-3,430	270	330	3,109	-486	32	135	7,728	-9,038	150	265	197	279	426	451
Stock-based compensation expense
10,818	2,464	4,361	3,855	10,327	5,173	374	4,240	8,992	2,888	3,707	4,271	6,732	2,377	2,886	2,627	2,440	2,527	1,826	3,360	1,282	4,178	2,046	6,124	8,459	2,039	2,519	1,992	2,883	1,495	2,483	1,855	3,071	846	882	990	1,214	1,007	297	297	545
Debt extinguishment costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-4,330	0	0	0	0	0	0	0	-725	-736	0	0	-4,184	-851	0	0	0
Write-off deferred loan costs
0	-4,451	174	4,520	27	-7,843	58	8,105	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred loan cost amortization
1,416	1,411	1,425	1,436	1,574	1,605	1,601	1,725	2,939	2,155	2,215	2,190	2,176	2,778	2,793	2,806	2,794	2,775	2,512	2,459	2,409	2,555	2,483	2,459	2,452	1,139	775	769	768	762	761	755	764	810	817	797	900	228	146	148	148
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries
98,689	-	-	-	23,773	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Equity Method Investments
-	-	-	-	-	-	-	15,236	97,154	-	7,703	8,260	706	32,746	18,138	13,852	5,643	83,073	-12,021	4,172	-1,808	59,547	-1,055	2,040	5,077	-1,136	11,953	-1,962	-1,195	-937	-833	-656	-236	-228	-170	-1,174	0	-	-	-	-
Distributions of earnings from Diamond Green Diesel and other unconsolidated subsidiaries
-	-	-	-	-	-	-	-	-	161	794	806	25,000	0	323	25,994	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of effects from acquisitions:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	11	-	-2	-13	-9
Accounts receivable
-487	46,474	6,830	-15,526	-11,692	16,004	-4,440	-19,807	14,590	-8,793	23,016	-18,458	753	19,738	-17,023	27,199	-7,118	-556	14,924	-10,313	-12,269	-41,628	3,726	43,938	-7,018	-3,475	5,310	-4,808	-1,451	-1,132	1,827	14,063	-12,434	-5,320	-8,130	11,166	12,370	5,366	269	-1,714	2,355
Income taxes refundable/payable
-348	-1,484	-918	130	-7,270	-29	4,400	4,054	1,384	8,972	-5,475	-5,281	-7,576	-1,407	127	-1,159	-400	-8,422	-5,323	-489	1,857	8,756	10,514	-8,558	11,739	9,342	5,701	-3,040	3,313	-2,586	994	-5,226	-11,027	8,839	-1,180	29,711	-21,802	372	-509	6,424	-3,655
Inventories and prepaid expenses
24,999	4,740	16,997	12,311	5,063	-28,351	-4,601	20,379	10,182	-16,036	9,106	11,292	10,660	-26,711	-8,133	-1,705	21,206	-26,869	-29,118	-5,060	26,511	-1,919	10,307	19,506	-16,700	-11,624	5,685	3,490	390	30,529	-6,627	-397	-8,337	17,434	-2,157	-16,018	-5,019	4,910	-1,581	-4,607	-3,383
Accounts payable and accrued expenses
-16,790	52,235	10,050	13,167	-43,016	37,538	2,701	12,717	-38,422	33,449	23,343	24,959	-8,365	11,848	-3,551	27,653	3,336	-1,131	-8,813	18,480	-19,985	-39,082	33,077	38,606	-63,824	-2,082	10,936	6,000	-6,333	-4,559	1,884	30,036	-23,438	-16,109	-11,017	-192	-1,765	23,394	4,508	1,528	-3,940
Other
14,981	2,604	-4,736	-3,328	1,891	-7,695	3,512	-4,757	-3,486	5,075	7,460	14,668	-2,823	-3,178	-6,083	2,498	14,962	-16,755	-9,704	12,196	-21,133	-15,042	-36,375	11,671	-7,617	-23,078	3,405	325	6,134	-3,741	3,652	267	-4,010	-766	888	3,163	-1,875	-2,806	2,197	311	-1,934
Net cash provided by operating activities
34,546	99,939	108,378	105,703	48,601	198,917	71,651	101,123	26,924	141,665	71,234	103,079	94,458	110,436	112,329	123,190	45,043	124,305	109,104	128,310	59,240	95,875	138,273	71,528	-30,504	42,016	39,525	69,698	59,482	52,967	54,610	88,389	53,571	66,698	55,662	37,804	80,700	33,374	21,546	11,808	14,782
Cash flows from investing activities:
Capital expenditures
61,599	114,406	77,221	83,602	84,269	108,170	74,596	82,543	56,587	77,722	68,622	65,532	62,292	75,299	58,818	56,031	53,375	67,584	63,542	47,884	50,838	74,934	50,453	52,171	51,360	32,588	31,030	28,297	26,392	31,259	30,658	28,806	24,690	16,132	16,151	15,113	12,757	8,840	6,480	4,795	4,605
Acquisitions, net of cash acquired
0	0	0	0	1,431	56,426	212	51,089	0	-	-	-	-	0	0	0	8,511	377	0	0	0	18,749	0	-6,039	2,081,690	612,635	121,440	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated subsidiary
0	-	-	-	-	2,250	3,500	3,000	3,500	0	2,500	0	2,250	0	0	0	0	-	-	-	-	-	-	-	-	0	0	32,424	12,535	9,008	8,898	14,167	11,351	9,063	3,501	9,140	1,601	0	0	0	0
Proceeds from sale of investment in subsidiary
-	-	-	-	-	-45	0	80,000	2,805	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross proceeds from disposal of property, plant and equipment and other assets
379	2,833	5,588	1,946	7,868	15,967	1,117	765	1,479	3,137	1,350	2,263	1,340	2,837	2,088	980	1,424	1,367	989	950	534	6,452	502	984	1,324	692	374	880	412	881	473	288	2,228	529	335	392	273	466	14	103	41
Proceeds from insurance settlement
0	5,229	526	0	845	0	0	750	503	2,753	0	0	3,301	0	0	356	1,181	0	220	0	341	0	1,550	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments related to routes and other intangibles
3,416	501	0	372	2,778	2,630	959	279	15	1,500	1,000	4,635	0	-	-	-	-	906	697	1,489	753	3,078	898	500	6,812	49	1,725	36	613	137	0	0	0	-	-	-	-	-1	377	817	174
Net cash used by investing activities
-64,636	-103,174	-72,107	-83,028	-79,765	-153,554	-78,150	-55,396	-55,315	-73,332	-70,547	-80,273	-59,901	-72,485	-56,730	-54,695	-59,281	-67,500	-63,030	-48,423	-50,716	-90,309	-49,299	-45,648	-2,138,538	-644,580	-153,821	-57,896	-39,128	-37,157	-39,077	-43,785	-33,813	-26,256	-19,317	-24,025	-14,085	-748,361	-9,753	-20,793	-4,738
Cash flows from financing activities:
Proceeds from long-term debt
8,264	5,621	4,263	505,584	2,138	922	3	619,819	3,876	9,332	7,664	7,756	8,649	7,562	11,488	8,517	8,760	4,546	6,225	574,031	5,943	5,267	15,721	23,687	1,797,509	344,704	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt
8,638	15,056	39,877	515,256	10,974	25,360	10,292	641,354	9,622	55,373	26,276	58,709	9,265	76,064	69,109	43,048	16,207	13,383	12,136	570,134	13,602	22,989	23,707	23,095	263,971	518	22	19	21	19	8	3	30,002	30,002	2	3	240,002	28,752	1,253	1,252	1,252
Borrowings from revolving credit facility
219,933	143,742	52,000	116,656	156,829	157,462	138,461	112,791	135,184	57,495	62,000	33,000	47,000	16,276	42,000	8,000	33,000	0	37,000	13,816	27,428	0	0	-53,167	223,310	293,235	0	0	0	-	-	-	-	0	0	41,000	90,000	-	-	-	-
Payments on revolving credit facility
100,782	128,785	66,000	128,737	138,147	148,511	140,831	141,613	80,019	57,608	67,000	28,000	52,327	11,000	45,821	26,207	21,000	35,879	47,370	45,563	37,943	74,335	20,000	-16,220	273,474	5,000	0	0	0	-	-	-	-	0	20,000	81,000	190,000	-	-	-	-
Net cash overdraft financing
-9,594	10,509	16,680	-3,347	14,525	99	-1,156	4,848	-331	-3,304	3,667	0	-1,077	1,071	0	0	0	0	-381	-32,042	31,162	3,144	-8,596	9,529	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net payments on revolver
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred loan costs
-	-	-	-	-	0	344	8,230	1,094	5,540	0	42	1,135	3,879	0	0	0	-	-	-	-	0	358	6,079	38,786	2,182	11,138	0	0	-	-	-	-	-83	215	0	267	24,020	0	0	0
Issuance of common stock
67	0	27	0	12	0	0	0	182	0	0	0	22	45	0	98	45	0	0	90	81	-1	0	-2,087	2,504	840,526	0	16	16	8	0	0	64	-72	0	346	292,843	18	10	3	4
Repurchase of common stock
55,044	-	-	-	0	-	-	-	-	-	-	-	-	0	0	0	5,000	0	5,912	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Minimum withholding taxes paid on stock awards
4,328	1,225	54	3	3,190	0	92	105	2,018	909	49	96	1,995	0	31	24	1,788	36	63	306	4,469	3,212	1,319	786	4,709	640	120	6	2,523	719	1,151	57	2,157	64	12	51	1,154	143	0	0	442
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	-446	-	-	23	-35	969	122	369	960	419	16	1	702	483	1,058	126	985	-1	-10	327	809	11	39	2	182
Payments to Noncontrolling Interests
8,784	-	-	-	0	-	-	-	-	4,852	-1,706	1,702	433	667	885	0	0	475	954	1,828	38	4,272	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests
688	-	4,500	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
40,406	5,253	-49,225	-32,106	21,193	-17,640	-21,273	-54,827	46,158	-75,697	-20,801	-47,793	-10,561	-66,656	-61,945	-52,631	-2,636	-45,505	-29,069	-73,542	8,527	-94,228	-38,137	-35,409	1,443,343	1,470,544	-11,264	-8	-1,826	-247	-101	66	-31,110	-30,056	-20,239	-39,381	-47,771	657,114	-1,204	-1,247	-1,508
Effect of exchange rate changes on cash
-6,916	1,746	-4,879	722	-1,575	-1,927	5,083	-9,649	-1,672	3,852	5,443	10,924	309	-5,354	-2,884	-5,375	7,316	-3,302	5,861	7,544	-13,704	4,019	-1,195	9,892	-1,736	-5,134	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash, cash equivalents and restricted cash
3,400	3,764	-17,833	-8,709	-11,546	25,796	-22,689	-18,749	16,095	-3,512	-14,671	-14,063	24,305	-34,059	-9,230	10,489	-9,558	7,998	22,866	13,889	3,347	-84,643	49,642	363	-727,435	862,846	-125,560	11,794	18,528	15,563	15,432	44,670	-11,352	10,386	16,106	-25,602	18,844	-57,873	10,589	-10,232	8,536
Supplemental disclosure of cash flow information:
Accrued capital expenditures
1,630	2,736	11,520	-16,165	8,623	11,246	1,041	-4,402	-1,934	5,053	1,913	-2,658	-2,787	2,365	382	2,911	-6,595	4,385	666	-1,890	2,164	2,776	864	-3,737	1,437	-956	1,045	-1,267	2,341	0	0	0	0	-	-	-	-	-	-	-	-
Cash paid during the period for:
Interest, net of capitalized interest
5,863	29,405	4,531	23,594	21,602	16,275	19,117	20,472	19,142	20,014	19,531	19,666	19,022	19,699	20,582	21,216	20,597	21,215	20,240	11,406	26,118	29,649	27,334	12,379	35,472	12,394	-596	9,589	167	10,085	-199	10,140	155	11,234	1,433	12,444	3,579	5,506	725	744	768
Income taxes, net of refunds
11,453	8,303	8,868	9,713	2,894	4,480	11,528	10,034	7,120	12,585	5,733	5,557	2,429	9,202	2,219	6,685	5,114	-7,040	-7,431	6,287	5,149	13,109	3,905	5,835	5,466	1,123	12,569	9,595	8,118	15,708	16,997	10,491	295	16,356	18,105	52,575	1,205	6,283	5,452	12,700	3,679
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability
9,121	24,171	8,933	2,698	4,794	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash financing activities
Debt issued for assets
21	25	0	0	0	-2	7	0	17	9,456	3	0	0	0	0	0	10	70	0	2,521	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution of Property
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,674	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-