DUCOMMUN INCORPORATED DCO Cash Flow

Ducommun incorporated (DCO)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'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
Cash Flows from Operating Activities
Net Income
7,930	8,871	8,303	7,815	7,472	673	-	4,171	1,591	2,600	9,484	4,655	3,823	2,115	2,836	5,014	3,861	13,550	-65,173	-9,515	1,782	-1,973	5,156	2,933	6,619	5,159	-5,244	6,985	5,666	3,971	4,621	5,105	5,507	2,390	-48,494	961	-2,973	2,923
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities
Net Cash Provided by Operating Activities:
Depreciation and amortization
7,336	7,554	6,992	7,004	6,755	6,661	-	6,320	6,334	5,981	5,696	5,619	5,748	5,782	5,440	6,089	5,476	5,855	6,782	6,636	6,514	6,914	7,195	6,704	7,699	7,426	9,551	7,202	7,140	7,033	7,952	7,654	7,003	6,804	6,986	7,455	3,606	3,411
Non-cash operating lease cost
811	697	599	740	633	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,211	0	0	18,815	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment impairment due to restructuring
-	-	-	-	-	-	-	1,409	3,298	1,077	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation expense
2,279	1,839	2,051	1,807	1,464	1,626	-	1,299	1,025	1,090	411	1,100	1,342	1,822	428	594	985	1,000	703	331	837	1,624	1,205	1,232	924	364	727	906	112	693	431	486	476	566	11	888	855	609
Deferred income taxes
1,495	-1,943	-68	-36	217	-1,404	-	-520	4,172	-206	-15,247	-642	-54	532	5,121	1,542	-582	-2,562	-30,709	22	826	751	-1,728	1,075	1,602	-604	-2,384	-1,035	3,751	-1,883	4,698	357	-3,113	-844	-	-	-	-
Allowance for credit losses
97	-	-	-	104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory reserves
398	-	-	-	154	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	110	7	400	109	1	78	-63	124	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax (benefit) expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,981	-693	-799
Income tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	114	-	-	-	-
Recovery of doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17	-34	62	-	-21	173	62	-	107	-123	157	-	-	-	36	-	-	-	-
Provision for doubtful accounts
-	-	-	-	-	-77	-	374	113	-143	248	84	15	26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-65	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	229
Recovery of doubtful accounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-92
Other
-194	-790	-449	278	19	-2,384	-	-225	-240	-8,810	-1,035	-69	426	1,860	2,281	1,522	2,031	1,370	1,552	-8,843	2,306	-643	5,564	180	-788	757	-5,168	-270	-165	266	1,899	-578	-1,094	-408	970	-470	-755	277
Changes in Assets and Liabilities:
Accounts receivable
14,591	-11,324	7,799	5,726	-4,581	3,276	-	401	-1,880	-9,292	-4,147	-4,340	10,357	-4,590	2,557	-3,039	-766	-1,972	392	-4,942	316	-210	-13,359	-793	4,467	8,599	-664	-13,047	9,309	-1,066	-5,730	2,760	5,661	-1,487	-1,221	-7,879	4,193	8,897
Contract assets
10,543	4,195	1,948	7,221	6,641	-1,401	-	6,403	3,500	78,163	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract assets
10,543	4,195	1,948	7,221	6,641	-1,401	-	6,403	3,500	78,163	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unbilled receivables increase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-775	989	27	-	2,193	-1,606	1,227
Inventories
7,667	-232	521	5,179	3,023	-334	-	6,508	6,812	-36,229	-14,996	6,027	2,197	7,305	-9,873	2,180	509	12,366	-15,460	-697	-3,429	-1,399	-2,626	3,267	-6,694	8,388	-8,017	698	-636	993	-13,832	3,162	2,011	2,789	-13,658	6,377	3,591	8,518
Production cost of contracts
-973	-458	376	1,266	-105	122	-	1,607	-215	55	-332	-1,178	1,822	-45	99	2,229	-363	-429	-890	1,908	-1,253	-95	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Production cost of contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-326	2,247	-513	-	1,553	-716	2,559	-	-	-	1,340	-	-	-	-
Production cost of contracts - (increase)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,377
Other assets
-871	-833	-52	-941	468	1,828	-	-2,234	-1,063	-412	418	480	-328	-610	4,121	595	-606	-7,084	-4,270	6,328	-3,530	-4,412	1,833	-70	-1,123	-5,440	1,691	7,009	4,929	-1,456	-431	-1,688	-797	-3,913	-6,320	1,891	2,392	1,435
Accounts payable
-4,711	2,814	1,648	8,947	-1,789	-4,114	-	2,493	7,904	12,213	-17,816	-1,197	8,533	6,465	-4,531	9,715	2,568	7,303	-6,352	-3,548	-4,420	342	2,857	1,916	-225	-4,138	7,443	-1,196	383	-2,097	-5,021	1,800	-1,356	-3,520	967	-13,731	5,306	-4,865
Contract liabilities
13,361	2,667	-1,333	-1,847	-2,115	2,037	-	-56	-559	15,723	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liabilities
-700	-	-	-	-627	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract liabilities
13,361	2,667	-1,333	-1,847	-2,115	2,037	-	-56	-559	15,723	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,666	-9,044	8,611	-12,386	-15,074	6,889	-8,626	11,919	-	-	-	-
Accrued and other liabilities
-9,567	-1,584	3,818	4,060	-8,492	7,191	-	4,145	-1,073	-4,524	1,602	2,411	-1,923	415	4,487	-3,969	-4,921	3,437	-	-7,781	466	-10,761	-	-6,235	6,902	-6,067	-	-	-	-	-	-	-	-	-	-	-	-
Accrued and other liabilities - (decrease)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,012
Net Cash Used in Operating Activities
-12,034	30,962	12,019	9,739	-1,689	12,835	-	7,175	15,891	10,336	8,077	11,110	3,010	13,237	15,697	15,496	6,623	5,452	11,593	-5,471	14,071	3,485	32,647	5,310	25,302	-9,837	31,251	7,768	13,065	-6,122	36,150	5,671	10,506	-4,793	25,894	-6,015	2,446	-25,327
Cash Flows from Investing Activities
Purchases of property and equipment
3,867	3,592	7,132	4,341	3,225	4,821	-	5,283	4,172	3,341	3,011	8,357	9,445	6,797	4,289	5,093	3,818	3,801	4,088	4,021	2,210	5,572	8,767	3,332	3,805	2,192	5,082	2,068	2,641	2,612	3,483	3,567	3,846	4,917	3,350	5,383	4,294	1,509
Post closing cash received from the acquisition of Nobles Worldwide, Inc., net
190	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of assets
-	-	-	-	-	279	-	50	26	41	910	0	0	3	16	0	0	0	615	10	270	9	8	32	46	5	16	12	106	5	13	7	8	3	19	3	111	337
Proceeds from divestitures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,379	0	0	55,272	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Net of Cash Acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	325,315	400
Net Cash Used in Investing Activities
-3,677	-80,236	-7,132	-4,341	-3,225	-4,543	-	-4,951	-35,139	-3,300	-2,721	-67,247	-9,445	-6,794	-7,652	-5,093	-3,818	51,471	-3,473	-4,011	-430	-5,563	-7,809	-1,700	-3,759	-2,187	-5,066	-2,056	-2,535	-2,607	-3,470	-3,560	-3,838	-4,914	-3,331	-5,380	-329,498	-1,572
Cash Flows from Financing Activities
Borrowings from senior secured revolving credit facility
65,900	134,900	56,700	44,900	61,900	56,700	-	50,100	112,900	76,700	75,400	197,500	67,400	55,600	42,100	20,500	9,200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of senior secured revolving credit facility
15,900	134,900	59,200	45,600	58,700	127,400	-	52,100	91,700	83,300	82,000	145,000	55,200	55,600	42,100	25,500	4,200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of term loans
7,362	56,430	570	3,000	3,000	167,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of other debt
54	-	-	-	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of term loan
-	-	-	-	-	-	-	-	-	-	-	0	5,000	5,000	-	5,000	5,000	55,000	15,000	215,000	80,000	10,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of other debt
-	-	-	-	-	-	-	-	-	-	0	0	0	3	1	8	7	7	9	4	7	6	-19	-14,993	7,506	7,506	-22,518	7,506	7,506	7,506	15,014	10,491	482	491	-	-	-	-
Borrowings of senior notes and term loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-18,490
Cash dividends paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	790
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	184	0	0	181	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	110	7	400	109	1	78	-63	124	-	-	-	-	-	-	-	-	-	-	-	-
Net cash paid upon issuance of common stock under stock plans
858	268	-934	1,333	1,805	361	-	183	217	789	295	46	507	1,758	326	105	61	931	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from issuance of common stock under stock plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-947	-	920	362	7	722	881	492	-127	-	-	-	-39	-	-	-	-
Net Cash Provided by (Used in) Financing Activities
41,726	82,116	-2,189	-5,081	-1,622	-1,602	-	-2,183	20,983	-7,389	-6,895	52,454	6,693	-6,761	-10,079	-10,113	-68	-55,938	-14,907	-5,119	-19,504	-10,844	-20,063	-6,509	-7,207	-7,375	-9,968	-6,625	-7,014	-7,814	-15,014	-10,491	-629	-530	-490	-579	357,333	17,700
Net Increase (Decrease) in Cash and Cash Equivalents
26,015	32,842	2,698	317	-6,536	6,690	-	41	1,735	-353	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (Decrease) Increase in Cash and Cash Equivalents
-	-	-	-	-	-	-	-	-	-	-	-3,683	258	-318	-2,034	290	2,737	985	-6,787	-14,601	-5,863	-12,922	4,775	-2,899	14,336	-19,399	16,217	-913	3,516	-16,543	17,666	-8,380	6,039	-10,237	22,073	-11,974	30,281	-9,199
Interest paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,957	11,397	1,974	23,689	-10,086	12,037	-	-	-	-	-	-	-	-
Taxes paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,191	58	1,293	4,799	1,180	563	-	-	-	-	-	-	-	-
Purchases of property and equipment not yet paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	540	182	-	-	-	-	-	-	-	-	-	-	-	-