DARLING INGREDIENTS INC. DAR Cash Flow

Darling ingredients inc. (DAR)

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	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
387,418	320,967	119,665	87,691	27,509	105,944	170,744	184,565	224,031	133,354	68,090	88,296	111,959	107,224	151,419	115,172	86,118	85,279	68,192	91,503	121,141	68,311	22,016	33,713	25,556	108,967	115,276	124,797	134,604	130,770	131,465	135,425	151,427	169,418	149,933	120,183	79,327	44,243	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
331,017	325,510	324,334	322,769	321,737	321,192	316,709	315,069	309,605	302,100	298,774	292,225	288,766	289,908	282,374	279,048	275,762	269,904	269,009	268,993	270,246	269,517	232,191	188,011	142,589	98,787	89,487	86,880	86,478	85,371	84,178	82,607	79,988	78,909	67,744	56,414	44,565	31,908	0	0	0
Loss (gain) on disposal of property, plant, equipment and other assets
16,271	20,582	20,608	17,767	3,079	-709	-772	-421	574	237	-334	-559	-921	-1,744	-1,557	-1,905	-1,962	-1,311	834	1,365	1,474	2,437	1,423	1,457	1,951	1,245	-1,364	-1,101	-1,249	-1,099	1,541	1,315	1,022	622	43	15	16	51	0	0	0
Gain on insurance proceeds from insurance settlements
5,755	6,600	1,371	845	1,595	1,253	2,680	2,680	1,930	1,427	0	0	0	-	-	-	-	561	561	1,891	1,891	1,550	5,512	3,962	3,512	1,981	-8,159	-7,153	-5,803	-4,272	0	0	0	-	-	-	-	-	-	-	-
Deferred taxes
-11,252	-20,530	27,917	21,349	16,722	16,974	97,339	102,498	104,610	98,805	2,513	2,139	6,783	11,532	-21,670	-6,394	-12,015	-7,807	43,348	30,873	31,218	21,216	-71,792	-61,014	-50,586	-24,593	7,717	2,660	2,903	-10,338	-27,169	-24,993	-24,871	-24,702	15,359	8,739	1,799	-2,402	0	0	0
Increase (decrease) in long-term pension liability
921	1,831	2,960	2,350	1,950	1,463	434	1,144	1,840	2,383	2,249	2,528	1,418	-430	-6,594	-6,757	-6,218	-4,811	9,974	16,462	10,542	9,593	-5,883	-16,129	-10,028	-9,010	279	3,223	2,985	2,790	7,409	-1,143	-1,025	-895	-8,426	891	1,167	1,353	0	0	0
Stock-based compensation expense
21,498	21,007	23,716	19,729	20,114	18,779	16,494	19,827	19,858	17,598	17,087	16,266	14,622	10,330	10,480	9,420	10,153	8,995	10,646	10,866	13,630	20,807	18,668	19,141	15,009	9,433	8,889	8,853	8,716	8,904	8,255	6,654	5,789	3,932	4,093	3,508	2,815	2,146	0	0	0
Debt extinguishment costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,330	-4,330	-4,330	-4,330	0	0	0	0	-725	-1,461	-1,461	-1,461	-4,920	-5,035	-5,035	-5,035	-851	0	0	0
Write-off deferred loan costs
243	270	-3,122	-3,238	347	320	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred loan cost amortization
5,688	5,846	6,040	6,216	6,505	7,870	8,420	9,034	9,499	8,736	9,359	9,937	10,553	11,171	11,168	10,887	10,540	10,155	9,935	9,906	9,906	9,949	8,533	6,825	5,135	3,451	3,074	3,060	3,046	3,042	3,090	3,146	3,188	3,324	2,742	2,071	1,422	670	0	0	0
Equity in net income of Diamond Green Diesel and other unconsolidated subsidiaries
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Equity Method Investments
-	-	-	-	-	-	-	0	124,952	-	49,415	59,850	65,442	70,379	120,706	90,547	80,867	73,416	49,890	60,856	58,724	65,609	4,926	17,934	13,932	7,660	7,859	-4,927	-3,621	-2,662	-1,953	-1,290	-1,808	-1,572	0	0	0	-	-	-	-
Distributions of earnings from Diamond Green Diesel and other unconsolidated subsidiaries
-	-	-	-	-	-	-	-	-	26,761	26,600	26,129	51,317	26,317	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of effects from acquisitions:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0
Accounts receivable
37,291	26,086	-4,384	-15,654	-19,935	6,347	-18,450	9,006	10,355	-3,482	25,049	-14,990	30,667	22,796	2,502	34,449	-3,063	-8,214	-49,286	-60,484	-6,233	-982	37,171	38,755	-9,991	-4,424	-2,081	-5,564	13,307	2,324	-1,864	-11,821	-14,718	10,086	20,772	29,171	16,291	6,276	0	0	0
Income taxes refundable/payable
-2,620	-9,542	-8,087	-2,769	1,155	9,809	18,810	8,935	-400	-9,360	-19,739	-14,137	-10,015	-2,839	-9,854	-15,304	-14,634	-12,377	4,801	20,638	12,569	22,451	23,037	18,224	23,742	15,316	3,388	-1,319	-3,505	-17,845	-6,420	-8,594	26,343	15,568	7,101	7,772	-15,515	2,632	0	0	0
Inventories and prepaid expenses
59,047	39,111	6,020	-15,578	-7,510	-2,391	9,924	23,631	14,544	15,022	4,347	-12,892	-25,889	-15,343	-15,501	-36,486	-39,841	-34,536	-9,586	29,839	54,405	11,194	1,489	-3,133	-19,149	-2,059	40,094	27,782	23,895	15,168	2,073	6,543	-9,078	-5,760	-18,284	-17,708	-6,297	-4,661	0	0	0
Accounts payable and accrued expenses
58,662	32,436	17,739	10,390	9,940	14,534	10,445	31,087	43,329	73,386	51,785	24,891	27,585	39,286	26,307	21,045	11,872	-11,449	-49,400	-7,510	12,616	-31,223	5,777	-16,364	-48,970	8,521	6,044	-3,008	21,028	3,923	-7,627	-20,528	-50,756	-29,083	10,420	25,945	27,665	25,490	0	0	0
Other
9,521	-3,569	-13,868	-5,620	-7,049	-12,426	344	4,292	23,717	24,380	16,127	2,584	-9,586	8,199	-5,378	-8,999	699	-35,396	-33,683	-60,354	-60,879	-47,363	-55,399	-15,619	-26,965	-13,214	6,123	6,370	6,312	-3,832	-857	-3,621	-725	1,410	-630	679	-2,173	-2,232	0	0	0
Net cash provided by operating activities
348,566	362,621	461,599	424,872	420,292	398,615	341,363	340,946	342,902	410,436	379,207	420,302	440,413	390,998	404,867	401,642	406,762	420,959	392,529	421,698	364,916	275,172	221,313	122,565	120,735	210,721	221,672	236,757	255,448	249,537	263,268	264,320	213,735	240,864	207,540	173,424	147,428	81,510	0	0	0
Cash flows from investing activities:
Capital expenditures
336,828	359,498	353,262	350,637	349,578	321,896	291,448	285,474	268,463	274,168	271,745	261,941	252,440	243,523	235,808	240,532	232,385	229,848	237,198	224,109	228,396	228,918	186,572	167,149	143,275	118,307	116,978	116,606	117,115	115,413	100,286	85,779	72,086	60,153	52,861	43,190	32,872	24,720	0	0	0
Acquisitions, net of cash acquired
0	1,431	57,857	58,069	109,158	107,727	0	0	0	-	-	-	-	8,511	8,888	8,888	8,888	377	18,749	18,749	12,710	2,094,400	2,688,286	2,809,726	2,815,765	734,075	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated subsidiary
0	-	-	-	-	12,250	10,000	9,000	6,000	4,750	4,750	2,250	2,250	0	0	0	0	-	-	-	-	-	-	-	-	44,959	53,967	62,865	44,608	43,424	43,479	38,082	33,055	23,305	14,242	10,741	1,601	0	0	0	0
Proceeds from sale of investment in subsidiary
-	-	-	-	-	82,760	82,805	82,805	2,805	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross proceeds from disposal of property, plant and equipment and other assets
10,746	18,235	31,369	26,898	25,717	19,328	6,498	6,731	8,229	8,090	7,790	8,528	7,245	7,329	5,859	4,760	4,730	3,840	8,925	8,438	8,472	9,262	3,502	3,374	3,270	2,358	2,547	2,646	2,054	3,870	3,518	3,380	3,484	1,529	1,466	1,145	856	624	0	0	0
Proceeds from insurance settlement
5,755	6,600	1,371	845	1,595	1,253	4,006	4,006	3,256	6,054	3,301	3,301	3,657	1,537	1,537	1,757	1,401	561	561	1,891	1,891	1,550	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments related to routes and other intangibles
4,289	3,651	5,780	6,739	6,646	3,883	2,753	2,794	7,150	7,135	0	0	0	-	-	-	-	3,845	6,017	6,218	5,229	11,288	8,259	9,086	8,622	2,423	2,511	786	750	137	0	0	0	-	-	-	-	1,367	0	0	0
Net cash used by investing activities
-322,945	-338,074	-388,454	-394,497	-366,865	-342,415	-262,193	-254,590	-279,467	-284,053	-283,206	-269,389	-243,811	-243,191	-238,206	-244,506	-238,234	-229,669	-252,478	-238,747	-235,972	-2,323,794	-2,878,065	-2,982,587	-2,994,835	-895,425	-288,002	-173,258	-159,147	-153,832	-142,931	-123,171	-103,411	-83,683	-805,788	-796,224	-792,992	-783,645	0	0	0
Cash flows from financing activities:
Proceeds from long-term debt
523,732	517,606	512,907	508,647	622,882	624,620	633,030	640,691	28,628	33,401	31,631	35,455	36,216	36,327	33,311	28,048	593,562	590,745	591,466	600,962	50,618	1,842,184	2,181,621	2,165,900	2,142,213	344,704	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long-term debt
578,827	581,163	591,467	561,882	687,980	686,628	716,641	732,625	149,980	149,623	170,314	213,147	197,486	204,428	141,747	84,774	611,860	609,255	618,861	630,432	83,393	333,762	311,291	287,606	264,530	580	81	67	51	30,032	60,015	60,009	60,009	270,009	268,759	270,010	271,259	32,509	0	0	0
Borrowings from revolving credit facility
532,331	469,227	482,947	569,408	565,543	543,898	443,931	367,470	287,679	199,495	158,276	138,276	113,276	99,276	83,000	78,000	83,816	78,244	78,244	41,244	-25,739	170,143	463,378	463,378	516,545	293,235	0	0	0	-	-	-	-	131,000	0	0	0	-	-	-	-
Payments on revolving credit facility
424,304	461,669	481,395	556,226	569,102	510,974	420,071	346,240	232,627	204,935	158,327	137,148	135,355	104,028	128,907	130,456	149,812	166,755	205,211	177,841	116,058	351,589	282,254	262,254	278,474	5,000	0	0	0	-	-	-	-	291,000	0	0	0	-	-	-	-
Net cash overdraft financing
14,248	38,367	27,957	10,121	18,316	3,460	57	4,880	32	-714	3,661	-6	-6	1,071	0	-381	-32,423	-1,261	1,883	-6,332	35,239	4,077	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net payments on revolver
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred loan costs
-	-	-	-	-	9,668	15,208	14,864	6,676	6,717	5,056	5,056	5,014	3,879	0	0	0	-	-	-	-	45,223	47,405	58,185	52,106	13,320	0	0	0	-	-	-	-	399	24,502	24,287	24,287	24,020	0	0	0
Issuance of common stock
94	39	39	12	12	182	182	182	182	22	67	67	165	188	143	143	135	171	170	170	-2,007	416	840,943	840,943	843,046	840,558	40	40	24	72	-8	-8	338	293,117	293,207	293,217	292,874	35	0	0	0
Repurchase of common stock
0	-	-	-	0	-	-	-	-	-	-	-	-	5,000	5,000	10,912	10,912	5,912	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Minimum withholding taxes paid on stock awards
5,610	4,472	3,247	3,285	3,387	2,215	3,124	3,081	3,072	3,049	2,140	2,122	2,050	1,843	1,879	1,911	2,193	4,874	8,050	9,306	9,786	10,026	7,454	6,255	5,475	3,289	3,368	4,399	4,450	4,084	3,429	2,290	2,284	1,281	1,360	1,348	1,297	585	0	0	0
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	1,079	1,425	2,420	1,870	1,764	1,396	1,138	1,202	2,244	2,369	2,652	2,168	1,100	1,301	1,125	1,137	1,186	861	234	0	0	0
Payments to Noncontrolling Interests
0	-	-	-	0	-	-	-	-	5,281	1,096	3,687	1,985	1,552	1,360	1,429	3,257	3,295	7,092	6,138	4,310	4,272	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-35,672	-54,885	-77,778	-49,826	-72,547	-47,582	-105,639	-105,167	-98,133	-154,852	-145,811	-186,955	-191,793	-183,868	-162,717	-129,841	-150,752	-139,589	-188,312	-197,380	-159,247	1,275,569	2,840,341	2,867,214	2,902,615	1,457,446	-13,345	-2,182	-2,108	-31,392	-61,201	-81,339	-120,786	-137,447	549,723	568,758	606,892	653,155	0	0	0
Effect of exchange rate changes on cash
-9,327	-3,986	-7,659	2,303	-8,068	-8,165	-2,386	-2,026	18,547	20,528	11,322	2,995	-13,304	-6,297	-4,245	4,500	17,419	-3,601	3,720	-3,336	-988	10,980	1,827	3,022	-6,870	-5,134	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash, cash equivalents and restricted cash
-19,378	-34,324	-12,292	-17,148	-27,188	453	-28,855	-20,837	-16,151	-7,941	-38,488	-33,047	-8,495	-42,358	-301	31,795	35,195	48,100	-44,541	-17,765	-31,291	-762,073	185,416	10,214	21,645	767,608	-79,675	61,317	94,193	64,313	59,136	59,810	-10,462	19,734	-48,525	-54,042	-38,672	-48,980	0	0	0
Supplemental disclosure of cash flow information:
Accrued capital expenditures
-279	6,714	15,224	4,745	16,508	5,951	-242	630	2,374	1,521	-1,167	-2,698	2,871	-937	1,083	1,367	-3,434	5,325	3,716	3,914	2,067	1,340	-2,392	-2,211	259	1,163	2,119	1,074	2,341	0	0	0	0	-	-	-	-	-	-	-	-
Cash paid during the period for:
Interest, net of capitalized interest
63,393	79,132	66,002	80,588	77,466	75,006	78,745	79,159	78,353	78,233	77,918	78,969	80,519	82,094	83,610	83,268	73,458	78,979	87,413	94,507	95,480	104,834	87,579	59,649	56,859	21,554	19,245	19,642	20,193	20,181	21,330	22,962	25,266	28,690	22,962	22,254	10,554	7,743	0	0	0
Income taxes, net of refunds
38,337	29,778	25,955	28,615	28,936	33,162	41,267	35,472	30,995	26,304	22,921	19,407	20,535	23,220	6,978	-2,672	-3,070	-3,035	17,114	28,450	27,998	28,315	16,329	24,993	28,753	31,405	45,990	50,418	51,314	43,491	44,139	45,247	87,331	88,241	78,168	65,515	25,640	28,114	0	0	0
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability
44,923	40,596	16,425	7,492	4,794	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash financing activities
Debt issued for assets
46	25	-2	5	5	22	9,480	9,476	9,476	9,459	3	0	0	10	80	80	2,601	2,591	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contribution of Property
-	-	-	-	-	-	-	-	-	-	-	-	-	2,674	2,674	2,674	2,674	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-